The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1890-12-02

Other Recommendations.
WASHINGTON, Dec. 1.-The Presidents
message was read in both houses OF
Congress to day.
1t advises the party to stand firm on
it's tariff position and pass tho federal
election bill.
The first five or six thousand words
are devoted to a resume Of the reports
OF the different departments of the gov
eminent and to statements showing the
peaccfulncss OF the country at homo and
| abroad.
Continuing the President then says:
congratulate the Congress and tho
country upon the passage ut the first
session of tho Fifty-trst Congress Of an
unusual number of laws of very high
Importance. That the results of this
legislation will be the quickcning and
enlargement OF our manufacturing in
duStrleS, larger and better markets for
our breadstu!Es and provisions. both at
homo and abroad, more constant employ
ment and better wages for our working
people and an increased supply OF u safe
currency for the transaction of business.
do not doubt some of these measures
were enacted at SO late II period that tho
cticial effects upon commerce. which
were in the contemplation Of Congress-,
have rs yet but partially manifested
themselves.
The general trade and industrial con-
dition throughout the country during
the year have shown u marked improve
mcnt.
0Thc merchandise balances of foreign
trade had been largely in our
favor, but during that year and the year
following they turned against us. Its
very gratifying to know that tho last
fiscal year again shows balance in our
favor of $50, 100000.
The production OF pig iron. always IL
good guagc Of general prosperity, is
shown 10y Il recent census bulletin to
have been 1872 per cent greater in 1890
than in 1850, and the production of steel
200 per cont. greater. Mining in coal
has had no limitation except that ro-
sulting from deficient Transportation
The general testimony is that labor is
everywhere fully employed, and tho ro-
ports of last year show n smaller num-
Der of employees affected by strikes and
lockouts than in any other year since
1854. The depression in tho prices of
agricultural products has been greatly
relieved and II buoyant and hopeful tono
was beginning to le felt by all our
people.
These promising influences have been
in some degree checked by the surpris-
ing and very unfavorblc monetary
events which have recently taken place
in England
1t is gratifying to know that these did
not grow in any degree out o. the finan-
cial relations OF London with our people
or out of any discrcdit attached to our
securities held in that market. There
turns OF our bonds and stocks was
caused by money stingency in England
not by any loss of value or credit in tho
Scurities themselves.
We could not, however. wholly escape
the i'll effects OF n foreign monetary agi-
taton accompanied by such eXtraordin-
AIRY Incidents as characterized this. 1t
is not believed, however, that these
evil Incidents which have for the time
nnfavorably affected values in this coun-
try can long withstand the strong,
sober and wholesome influences which
are operating 10 give to oar people
profitable returns i'll all branches of
legitimate trade and industry.
The apprehension that our tariff uN<
again, and at once, be subjected to imS
| portunt general changes would undoubt-
eddy add II depressing influence of tho
! most serious character.
Tho general tariff act has only par
TALLY gone into operation, some of its
important provisions being limited 10
take effect At dates yet in the future.
! The general provisions Of the law have
been i'll force less than sixty days. It's
! permanent effect upon trade and prices
| still largely stand i'll conjecture. It's
| curious To toto that the advance in tic
| prices OF articles wholly unair cted by
| the tariff act was by many hastily as
| cribcd to thatac Notice was not taken
of the fact that the general tendency OF
| the markets was upward from Influences
wholly apart from the recent tariff leg
! islation. The enlargement of our cur
rency by the silver bill undoubtedly
gave an upward tendency 10 trade and
had marked effect in prices. but this
natural and desired effect OF the silver
legislation was by many enormously at
xibutcd to the tariff act
There is neither wisdom nor justice
in tho suggestion that the subject OF
tariff revision shall be again opened be-
fore this law has had fair trial; it is
quite true that every tariff schedule is
subject to objections.
No bill was over framed, suppose,
that in all of its rates and claSsitications
had tho full approval, even Of party
caucus. Such legislation is always and
necessarily tho product OF compromise
as to details, and the present law is no
exception. But in its general scope and
effect think it will justify the support
OF those who believe that American