Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1890-12-03
THE TARIFF.
Congress and tho Country Congratulated
Upon tho Passage of Laws Of High

Upon the Passage 0f Laws Of High
Importance.
/ congratulate congress and the coun-
try upon the passage at the flrst session OF
the Fifty-krst congress Of an unusual
number of laws OF very high import ance.
That the results of this legislation will be
the quickcning and enlargement of our
manufacturing industries. larger and better
markets for our brcadstuffs, aud better
wages for our working people, and an in
creased supply Of provisions both ut home
and abroad, more constant employment and
q safe currency for the transaction of busl-
ness, do not doubt. Some of these meas
ures were enacted at SO late a period that
the beneficial effects upon commerce which
were In the contemplation Of congress have
as yet but partially manifested themselves.
The general trade and industrial conditions
throughout the country during the year
have shown marked Improvement. for
many years prior TO 1883 the merchandise
balances OF foreign trade had been largely
IN our favor, but during that year and the
year following they turned against us. 1t
Is very gratifying to know that the last
fiscal year again shows balance In our
favor Of over Sos, 600 900. The bank clcarings
which furnish n good test Of the volume OF
business transacted for the first ten months
OF tho year 1890 show, rs compared with the
same months OF 1889, an increase for the
whole country Of about 6.4 per cent, while
York was over 13 per cent. During the
month OF October the clearings Of the whole
country showed an increase Of 81 per cent.
over October, 1889, while outside Of New
York the increase was 1tL per cent. These
figures show that the increase in the voi-
umc Of business was very general through,
out the country. That this larger business
was being conducted upon safe and profit
able basis Is shown by the fact that there
were 800 less failures reported In October,
1890, than In the same month OF the pre-
ccling year. with liabilities diminished by
about $57 100000. Tho value Of our exports
OF merchandise during the last year was
over 5000, 900 greater than the preceding
year and was only exceeded once in our
history. About S1O0, ,0O0, 900 Of this excess
was In agricultural products. The produce
tion Of pig iron-nlways a good gauge Of
general prospcrity-is shown by
. recent census bulletin to have been
1850. and the production OF steel 200 per
cent greater. Mining In coal has had no
limitation except that resulting from inefh-
cient transportation. The general tcsti-
mOny Is that labor II cvefywhere fully en,-
ployed, and the reports for the last year
show smaller number OF employees affected
by strikes and lock-0uts than in any year
since 1884. Tho depression in the prices of
agricultural products has been greatly re-
lievcd and . bOuyant and hopeful tone
was beginning TO be felt by nll our people.
These promising influences have been in
sOme degree checked by tho surprising and
very unfavOrable monetary events which
have recently taken place In England. 1t
IL gratifying to know that these did not
grow In any degree out OF financial rela-
ti0ns With our people. or out OF any dis
credit attached 70 our securities held In
stocks WAS caused by money strlngency In
England. not by any loss OF value or credit
in tho securities themselves. We could
not, however, wholly escape the iil-efects
of foreign monetary agitation. ACCOM-
panied By such extraordinary incidents as
characterized this. II Is not believed, how
ever, that these evil incidents which have
for the time unfayorably affected values In
this country. can long Withstand the strong,
safe and wholesome Influences which are
operating to give to our people profitable
returns In NIL branches OF legitimate trade
and industry.
The apprehension that our tariff may
again and " Once b subjected 70 isnpor.
tsnt general changes would undoubtedly
add depressing influence OF the most seri-
Qua character. The general tariff act has
only partially gone into operation, some OF
it, important provisions being limited to
take eject ~ dates yet In the future. The
general provisions Of the law have bean II
ioscs les sas. = sis.y - Says i. n, nsrs..ssns
stando n conjecture. It u curious to uote
that the advance N the prices Of articles
wholly una4octe0 by the taSi3 act WAS By
many hastily ascribed 70 that act. Notice
Was not taken of the fact that the general
tendency OF Ne markets was upward from
tariff lesisla4loa. The enlarEement d our
curfency ~ the silver !, bill undoubtedly
gavo IN upward tendency to trade and had
: marked 01ect On prices. hut this natural