Nevada County picayune., 1890-10-02
THE NEW TARIFF AND ITS EFF
 FECTS.

"iii SoutihuS eo oit upoh it tuiS WtSh the law as finally passed will stand on record as the most narrow minded and short-sighted piece of legislation ever enacted in Washington.
 The sharp advance in duties in ev- cry schedule against the protest of at least nine-tenths of the voting con- stituences of the United States would indicate that the Republican leaders were stricken with blindness but for the many evidences that they are acting under fatal necessity from which there is no other escape. The promises made to the protected monopolies two years ago would not be considered binding up to the point of party suicide. But if the promis- es are disregarded these same pro- tected monopolies will not be so com plaisant when next asked to submit to the fat-frying process.
 That is doubtless the simple secret of the crime which the Republican party is about to perpetrate against the honest producers of this country | by the enactment of this robber tar if law. The Republican leaders know that the party has not the con fdence of the American people, and that they would be hopelessly beaten in any fair election at the polls. They are therefore preparing the way for campaign of unlimited money both in the congressional e. lections of this fall and in the Presi- dential election two years hence. There is no other rational explana- tion for the unpopular and danger ous experiment in legislation upon which they have been busily engag- ed ever since Congress assembled in December last
 If the law does not bring a money crisis among the importers at the very outset, its blighting effects up on the commercial interests of the whole country and upon the prosperi- ty of the agricultural sections espe- cially cannot be long postponed. Its first effect will be to stimulate pri- ces in everything except farm prod ucts. Business in all manufactured goods will be placed upon an inilat- ed basis and combinations of farmers will strive, by every effort that inge- nuity can contrive, to save them- selves from ruin in the unequal con test by forcing upward the prices of their products. Smuggling, which always goes hand in hand with exor- bitant tariff, and eventually compe- ttion between manufacturers shut up in the home market and threaten ed with ruin by over-production, will in year or two prick the bub- ble of high prices and in the collapse there is no telling wha: interests will go down.
 Already it has come to this that the Secretary of the Treasury has been compelled to assume the doubt full task of staving off panic as an immediate result of putting the Mckinley tariff into effect. He telegraphed MT. Harrison the other day that he was fully advised" and would take all Unnecessary steps to keep the money market steady. Ths dispatch IS the bitterest satire that could be uttered upon the finan- cial folly and greed of the Republi- can congress. It is an open admis- sion that the impending tariff legis- lation has created deep-rooted finan- cial disorder which can be tempora- rily remedied only by the wisdom Of Secretary Windom using the great resources of the United States Trea Sc ury under the advice and counsel of interested bankers and operators in New York. At least one great pan ic-that of Black Friday in Septem- her, lS69--resulted from an exactly similar cause, and the omniscience of Windom is not so well established as to inspire confidence that he will carry the country safely through the financial complications which the Re publicans in Congress are creating.
 Aut whatever may come Of the snarl in which the banks, the manu- lecturers and tho importers are in- volved, the farmer is sure to suffer in the enhanced cost of all he buys, And this in face of the demonstrated fact that he, above all others, needed lower tariff taxes instead of higher. He asked for bread and the Republi- cans in Congress have given him a stone. e.-St. Louis Republic,
 
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