Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1890-12-03
The PRESIDENTS MESSAGE.


The second session of the 51st Congress
met at noon on last Monday. The Presi-
dent sent in bis annual message. As it
was not received here in time to publish
more of it, we give that portion which is of
most general interest as follows -
1.-THE value of our exports of domestic
merchandise during the last year was over
SIZE, 1000, 600 greater than the preceding
year, and was only exceeded once in our
history. About 500, 600, 600 of this excess
was in agricultural products. The pro-
duction of pig iron, always a good gauge
of general prosperity. is shown by recent
census bulletin to have been 1853 per cent.
greater in 1890 than in 1880, and the pro-
duction of steel 200 per cent. greater. Min
ing in coal has had no limitation except
that resulting from deficient transportation.
The general testimony is that labor is
everywhere fully employed, and the re-
ports for the last year show smaller num-
Der of employees affected by strikes and
lockouts than in any year since 1884 The
depression in the prices of agricultural
products had been greatly relieved and q
buoyant and hopeful tone was beginning to
be felt by all our people.
These promising Influences have been in
some degree checked by the surprising and
very unfavorable monetary events which
have recently taken place in England. It
is gratifying to know that these did not
grow in any degree out of the financial, re-
lations of LONDON with our people or out
of any discredit attached to our securities
| L. =.
bonds and stocks was caused by a money
value or credit in the securities themselves.
We could not, however, wholly escape the
ill effects of = foreign monetary agitation,
accompanied by such extraordinary Incl
dents as characterized this. 1t is not be
lieved, however, that these evil incidents
which have for time unfavorably 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 legiti-
mate trade and industry. The apprehen-
sion that our tariff may again and at once
be subjected to important general changes
would undoubtedly add depressing in
fuence of the most serious character. The
general tariff act has only partially gone
into operation, some of its important pro-
visions being limited to take effect 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.
1t is curious to note 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 the
markets was upward from influences Who'll
| ly apart from the recent tariff legislation
The enlargement of our currency by the
Silver bill undoubtedly gave an upward
| tendency to trade and had a marked effect
on prices, but this natural and desired eff.
feet of the silver legislation was by many
enormously attributed to the tariff act.
| There is neither wisdom nur justice in
the suggestion that the subject of tariff re.
vision shall be again opened before this law
has had fair trial. It is quite true that
very tariff schedule is subject to objections
| No bill was ever framed, l suppose, that in
all of its rates and claesifcations had the
full approval even of a party caucus. Such
| legislation is always and necessarily the
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 legislation should conserve
and defend American trade and the wages
| of American workingmen.
The misinformation as to the terms oil
the act which has been so widely dissent
mated at home and abroad will be corrected
| by experience and the evil augures as to
it's result COMPOUNDED by the market re-
ports, the savings bank, international
trade balances and the general prosperity
of our people. Already we begin to hear
| froa abroad and from our custom houses
that the prohibitory effect upon importa-
tions imputed to the act is not justified.
| The imports at the port of New York
for the first three weeks OF November were
nearly per cent greater than for the same
period of 1899, and 20 per cent greater than
In the same period of 1888. And, SO far
from being an act to limit exports, I con-
| fidently believe that under it We shall
secure larger and more profitable. partici
patton in foreign trade than we have ever
enjoyed, and that we shall recover pro-
pOrtionate participation 10 the ocean. carry
ing trade of the world.
The criticisms of the bill that have come
to us from foreign sources may we'll be re,
jected for repugnancy. If these critics
really believe that the adoption by us of a
free-tIade policy or of tariff rates having
reference solely to revenue would diminish
the participation of their own countries in
the commerce of the world, their advocacy
and promotion by speech and other forms
of an organized effort of this movement
among cur people is a rare exhibition of
unselflshness IN trade; and, on the other
hand, il they sincerely believe that the
adoption Of a protective tariff policy by
this country inurts to their profit and our
hurt, it is noticeably strange that they
should lead the outcry against the authors
of policy SO helpful to their countrymen,
and crown with their favor those who
would snatch from them substantial share
Of trade with other lands already made
quate to their necessities. There is no
disposition among any Of our people to
promote prohibitory or retaliatory legisla-
ton. Our policies are adopted not to the
hurt OF others, but to secure for ourselves
those advantages that fairly grow out of
curl favored position as a nation. Our
form Of government, with it's Incident of
universe suffrage, makes it imperative
that W. hall save our working people
from thu agitations and distresses which
scant W.. and wages that have no margin
for comfort always beget; but after all this
is done, it will be found that our markets
are open to friendly commercial exchanges
of enormous value to the other great
powers.
From the time of my induction into Of
flea the duty of using every power and in
nuence given by law to the Executive
Department for the development of large
markets for our products, especially our
farm products, has been kept constantly in
mind, and 10 eff ,rt has been or will be
spared to promote that end. We are under
no disadvantage in any foreign market,
except that We pay our workmen and
workwomen better wages than are paid
Observation-Disclosures abstract]y, better re-
latively, to the cost of the necessaries of
life.
l do not doubt that very largely in
creased foreign trade is accessible to us
without bartering for it either our home
market for such products of the farm and
shop as our own people can supply or the
wages of our working people. In many of
the products of wood and iron, and in meat
and breadstuffs, we have advantages that
Onlv Upa6 hattpr facilitiaa Of iutarcO,trca