The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1890-02-06


C. s. Powers in the Spring Valley
vidette takes occasion to criticise the
article OF Mr.. Blaine in the following
vigorous style:
In the article, covering p pages in
the North American Review, Mr..
Gladstone attempts to prove, and
does prove, that under the free trade
tariff OF 1916 the people Of the United
States enjoyed a season Of prosperity
ut that time almost unparalleled in
the history of our country. Mr..
Blaine is forced to admit this, straight;
but goes on to explain why the times
were SO prosperous under free trade.
| wish could quote that part of his
article in full, but your space would
not permit. The following gives an
idea of what practically desire read
ers Of The Vidette to note. He says:
Under ordinary circumstances the
free trade tariff Of 1916 would have
promptly fallen under popular repro
baton and been doomed to speedy
repeal. But it had a singular history,
and for time was generally acqui-
esced in, even attaining in many sec
tons q certain degree OF popularity.
Never did any other tariff meet with
SO many and SO great aids OF an adj
yentitious character to sustain it as
did this enactment Of 1916. Our war
with Mexico began just as the duties
we're lowered, and the consequence
was the disbursement of more than
500. 600. 900 in way that reached all
localities and favorably affected all
interests. This was a great sum of
money for that period, and for the
years 1876, 1847 and 1S4S it considera-
bly, more than doubled the ordinary
outlay Of the government"
To this Mr.. Powers says:
Now observe, Mr.. Blaine admits
that times were exceptionally'good
from 1876 to 1856, even under free
trade regime Of the most liberal char
acter; but, he explains that it was be-
cause there was plenty of money in
circulation among the people $780,
OOO, 900 for Mexican war purposes.
or the Sl0O,OOO,OoO referred to by
Mr.. Blaine, though he does not tell
us SO, 81, 6s7. 800 was issued under the
act OF July %, 1916, and SCI, 122, 100
under the act Of January %, 1847.
These treasury notes. or greenbacks
in all but the name. were received in
payment of all debts due the United
States, including customs, etc, and
circulated everywhere as money.
They were called in and destroyed
and heavy interest bearing bonds is
sued in their place, and this more
than any other one thing precipitat-
ed the panic of 1857, while the bonds
maturing about 1873. did their share
to aid in that great panic.
The Indianapolis platform Of the
Greenback party in 1884 said in effect
q quote from memory: =
We have had periods of depression
under free trade and also under q
high tariff, but we never had finan.
cial depression or hard times when
there was plenty Of money in circula.
tion.' Mr.. Blaine virtually says the
same. Mr.. Gladstone further speaks
of the terrible times which we en-.
dured in this country from 1873 to
1875. although there was a very:heayy
protective tariff, amounting in some
cases to almost entire prohibition.
Mr.. Blaine, who had come out sc
squarely on the greenback platform
for the first time in his life in speak.
ing Of the free trade tariff Of 1876 So
would have done well to have taken
counsel OF his new made friends and
staid there. He should have spoken
of the demonetizing of silver in 1873,
thereby driving out as a legal tender
one-half of the money Of the country,
the destruction of tens of millions
yes, hundreds of millions-of the lie.
gal tender money Of the nation. and
supplying its place with heavy inter
est-bearins; bonds; pla cling all the in.
debtedness of the country on gold
basis, In violation of law and con
tract, and other things of like char
acter. All this he knew; he held the
winning cards in his own hand. But
alas! lie could not rise to the sublin
ity of the occasion. Instead, he speaks
of two great fires in Chicago ant
Boston as the cause of the hard times
in 1873 and following years. How
puerile. How inconceivably ridicu-
lous. Three hundred million dollar
by fire did it all though money wa
poured into those cities from all owe
the country, and Europe as well. No
a word about nine thousand million
dollars of property destroyed in tn
war (the country had stood that, will
plenty of money, as Mr.. Blaine knew
and doubled in wealthy; not a wor
about destroying silver as money il
the greatest bearing nation o.
the globe: not a word about the lie
!, struction of nearly two thousan,
millions of dollars of legal tende
money Of the country, thereby cor
tracing the currency to less tina
; one-quarter-less than one-fifth it
former volume per capita.
!
III The Atlantic Pacific Pathway Tun
mel, the great project of Brick
POMerOy, is really being cut thrOug