River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1890-12-04

ing the power OF appointment IN the CLASSIFIED
service with fidelity and lmpartiality and the
service has been increasingly satisfactory. The
report of the commission shows large amount
OF good work done during the year with very
limited appropriations
The Tariff and Its Effects.
CONGRESS- CONGRATULATED.
congratulate the Congress of the country
upon the passage at the FIRST session OF the
Elfty-tlrst Congress Of an unusual number of
laws OF very high importance. That the re-
suits OF this legislation viii be the quiekening
and enlargement OF cur manufacturing indus
tries. larger and better markets for our bread
stuffs and provisions both at home and abroad
more constant employment and better wages
for our working people, and an increased sup
ply OF a safe currency for the transaction OF
business, do not doubt. Some of these meas
ures were enacted at so late period that tue
beneficial effects upon commerce which were
in the contemplation Of Congress have as yet
but partially manifested themselves
SOME STATISTICS.
The general trade and industrial conditions
throughout the country during the year have
shown a marked improvement. For many years
prior to 1883 the merchandise balances OF lot
eign trade had been largely in our favor
but during that year apd the year following
they turned against us. 1t is very gratifying
To know that the last fiscal year ag ain shows
a balance in our favor Of over s6SOOoOOo.
The bank elearings which furnish
good test OF me volume o. o.
the year 1890 show, as compared with the same
months OF 1889 an increase for the whole coun-
tty OF about 81 per cent, While the increase
outside of the city OF New York was over ID
per cent. During the month OF October the
| clearings OF the whole country showed an in
crease OF 81 per cent. over october, 1889, while
outside of New York the increase was 1ls per
cent These figures show that the increase
| in the volume of business was very genera.
/ throughout the country. That this larger bust
| ness was being conducted upon safe and
profitable basis Is shown by the fact that there
were 800 less failures reported In october 1880.
| than in the same month OF the preceding year,
with liabilities diminished by about s5,OOOOOO.
INCREASE IN EXPORTS.
The value OF exports OF domestic mer-
chandise during the last year was over sll5,.
| 1000 greater than the preceding year, and
was only exceeded once in our history. About
| 500 OOOO0 Of this excess was in agricultural
| products. The production OF pig iron-always
| a good gauge OF general prosperlty-ls
| shown by a recent census bulletin to have
/ been 1873 per cent greater IN 1880 than IN
| 1880 and the production of steel 29O per cent
greater Mining in coal has had no Limitation
| except that resulting from deficient trans
! portation. The general testimony Is that labor
/ Is everywhere fully employed. and the reports
| for the last wear show smaller mum
/ Der OF employees affected by strikes ana lock
outs than in any year since 1854 The de
| preston in the prices of agricultural products
| had been greatly relieved, and q buoyant and
hopeful tone was beginning to be felt by all our
ESGLANDs FINANCIAL PANIC.
These promising influences have been in
some degree checked by the surprising and
very unfavorable monetary events which
/
| gratifying to know that these did not grow
| IN any degree out OF the financial relations OF
London with our people, or any dlseredit at
/ The return of our bonds and stocks was
| caused by a money stringency in England
/ not by any loss of value or credit in the Sc
| curities themselves We could not. however
| wholly escape the Ill effects OF foreign
| monetary agitation accompanied by such
this. 1t is not believed, however
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 all
| branches OF legitimate trade and industry The
| apprehension that our tariff may again and at
| once be subjected to important general changes
| would undoubtedly add depressing influence
| Of the most serious character.
THE LATE TARIFF ACT.
| The general tarin act has only partially gone
| into operation, some of its important proyis-
| ions being limited to take eject at dates yet
| in the future. The general provisions OF the law
! have been in force less than sixty days. Its
| permanent effect upon trade and prices still
| largely stand in conjecture. IL is curious 10
| mott. that the advance in the prices Of articles
| wholly unaffected by the tariff act was by many
| hastily ascribed TO that act. Notice was not
| taken Of the fact that the general tendency OF
| wholly apart from the recent tariff legis ation.
| The enlargement OF our currency by the silver
| bill undoubtedly gave an upward tendency 10
| trade and had marked effect on prices; but
this natural and desired effect Of the silver reg
islation was by many enormously attributed to
the tariff act.
MUST HAVE FAIR TRIAL.
There is neither wisdom nor justice in the
| suggestion that the subject OF tariff revision
| shall be opened before this law has had fair
trial. II is quite true that every tarin seized
| ule is subject 10 objections. No bill was ever
| framed, suppose, that in all OF its rates and
! installations had the full approval even OF a
| party caucus, since legislation is always
and necessarily the product of compromise
| as to details. and the present law Is no ex-
cepton. But in its general scope and eff
| feet / think II will justify the support
| Of those who believe that American legislation
| should conserve American trade and the wages
| Of working men. The misinformation as to the
/ terms Of the act which have been so widely
| disseminated at home and abroad will be cor
| rected by experience, and the evil auguries as
to its results confounded by the market reports.
the savings banks internal trade balances and
the general prosperity OF our people. Already
| we begin to hear from abroad and from our Gus
tom houses tnat the prohibitory effect upon I'm
| portations imputed to the act is not justified.
| The imports at the port OF New
York for the first three weeks OF November
| same period in 1889, and 20 per cent greater
than in the same period OF 1888 And so far
from being an act to limit exports, confident
ly believe that under it we shall secure larger
and more profitable participation in foreign
trade than we have ever enjoyed. and that
we shall recover proportionate participa
tion in the ocean carrying trade OF the world.
FOREIGN CRITICISMS OF THE BILL
The criticisms of the bill that have come to
US from foreign sources may well be rejected
for repugnancy. II these critics really believe
that the adoption BY US of a free-trade poll
cy, or OF tariff rates having reference solely Ia
revenue, would diminish the participation Of
their own countries In the commerce Of the
world, their advocacy and the promotion by
speech and other forms OF organized effort OF
this movement among our people Is rare ex
hibition OF unselhshness in trade And on the
other hand, il they sincerely believe that the
adoption OF a protective tariff policy by this
country inures to their profit and our hurt, II Is
noticeably strange that they should lead the
outcry against the authors OF policy so help
full to their counl rymen and crown with thelI
favor those who would snatch from them a sub
stantial share Of a trade with other lands. al
ready inadequate to their necesst es.
There is no disposition among any OF ouI
people to promote prohibitory legislation
Our policies are adopted not to the hurt OF
others, but TO secure for ourselves those
advantages that fairly grow out OF oul
favored position as a Nation Our form Of
| Government. with its incident OF universal
suffrage, makes it imperative that we shall
save our working people from the agitattons
and distresses which scant work and wages
that have no margin for comfort always
beget. But after all this is done il will be
found that. Que markets are open to friendly
commercial exchanges OF enormous value K
other great powers.
WAGES OF WORKING PEOPLE.
From the time Of my induction into Office
the duty Of using every power and influence
| given by law to the Executive Department 'ol
the development Of larger markets for oul
products, especially our farm products, has
been kept constantly in mind, and no effort Ia:
been or will be. spared 10 promote that end
| We are under no disadvantage in any foreign
market except that we pay our working mel
and working women better wages than are paic
| elseH here-better abstractly better relatively
10 the cost of the necessaries Of life. / do mo-
doubt that a very largely increased foreign
| trade Is accessible to us without barterlng fo
! either our home market for such products o.
| the farm and shop as our own people can sup
| ply or the wages OF our wOrking-people.
souTH ATLANTIC AND GULF PORTS.
The South Atlantic and gulf ports occupy
very favored position toward the new and i'm
| portant commerce which the reciprocity CLAUSE
Of the tariff act and the postal shipping bill ar'
| designed TO promote. steamship lines iron
| these ports 10 some northern port OF Soutl
America will almost certainly effect connee
tiOn between the railroad systems OF the cont
! nents long before any continuous line OF rail
, | roads can be put into operation The very larg'
appropriation made at the last session for th'
| harbor at Galveston was justified. as II seemet
| to me. By thes- considerations TIE grea
| Northwest will feel the advantage Of new trunl
| lines TO the South as well as to the East, anS
TO the new markets opened for their surplus
food products and for many OF their manufact
ured products
THE INTERNATIONAL BANK PROJECT.
/ had occasion in May last to transmit x