Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1890-12-13
n ar pro nov

always a good gauge Of general prosper
ity, is shown by a recent census bulletin
to have been l53 per cent. greater in 1890
800 per cent, greater. Mining In coal has
had no limitation except hat resulting
from efficient transportation.
The general testimony Is that labor 10
everywhere fully employed and the reports
o rthe last year show a smaller numbsr Of
employees affected by strikes and lockouts
than in any year since 1884. The depres.
sion in the prices of agricultural products
had been greatly relieved and d buoyant
and hopeful tone was beginning to be felt
by all our people. These promising In
fuences have been In some degree checked
by the surprising and very unfavorable
monetary events which have recently
taken place in England. 1t Is gratifying
to know that these did not grow In any de-
gree out OF financial relations with our
people, or out of any discredit attached to
our securities held in that market. 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 secure
ties themselves.
We could not, however, wholly escape
the Ill effects of a foreign monetary agita-
tion, accompanied by such extraordinary
incidents as char acterlzed this. It Is not
believed, however, that these evil incidents
which have for the time unfavorably af-
fected values IN this country, can long
Withstand the ST. on safe and wholesome
influences which are operating to give to
our people profitable returns in all
branches of Legitimate trade and industry.
TIE TARIFF FREELY DISCUSSED.
The apprehen slon that our tariff may
again and at once be subjected to impor-
tant general changes would undoubtedly
add a depressing influence OF the most Sc
rious character.
The general tariff act has only partially
gone into operation, some Of Its i'm portant
provisions being limited to take effect at
dates yet In the future. The general pro-
visions 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 price Of articles wholly unaffected by
the tariff act was by many hastily ascribed
20 that act. Notice was not taken OF the
enact that tie general ten iency of the
markets was upward from influences
wholly apart from the recent tariff lcgisla.
tion.
The enlargement OF our currency by the
silver bill undoubtedly gave an upward
tendency TO strand trade and have a
marked effect on prices, but this natural
and desired effect of the silver legislation
was by many enormously attributed TO the
tariff act.
There is neither wisdom nor justice In
VIC ehEkehNlbu liidNN ht buiJtut VI Auiii 70
vision shall he opened before this law has
had "a fair trial. 1t is quite true that
every tariff schedule ~ subject TO objec-
tions. No bill was ever framed. / sup
pose, that in all of its rates and classical
lions bad the full approval even of a party
caucus. Such legislation Is always
and necessarily the product OF compromise
rs to details. and the present law IL no
exception. But in itsgenernl scope and ef
feet, | think IL will Justify the support OF
those who believe that American legisla-
tion should conserve and defend American
trade and the wages of American work
men. The misinformation as to the terms
of the act which has been so widely dis
seminated at home and abroad will be cor.
rected by experience, and the evil augur-
les rs to its results c~onfounded by the mar
ket reports, the savings banks, interna-
tiongl trade balances and the general pros.
perity of our people. Already We begin 40
hear from abroad and from our custom
houses that the prohibitory effect upon i'm
portations imputed to the act is not justi-
fed
The imports at the port Of New York
for the first three weeks OF November
were nearly S per cent. greater than for
the same period in 1883 and ~ per cent,
greater than In the same period In lSss.
And so far from being an act to limit ex-
ports ] confidently believe that under IL we
shall secure a larger and more profitable
participation in foreign trade that we have
ever enjoyed and that we shall recover a
proportionate participation In the ocean
carrying trade of the world.
The criticisms of the bill that have come
10 us from foreign sources may well be re-
jectcd for repugnance. If these critics
still believe hat the adoption by us of a free
trade policy or of traffic rates having refer
ence solely to revenue would diminish the
participation of their own countries In the
| N m NJ n of the world thair MI ynaaey md
the promotion OF free speech and other
forms of organized effort of this movement
among our people Is "A rare exhibition of use
fulness in trade, and on the other hand II
they sincerely believe that the adoption of a
protective tariff by this country inurcs to
their profit and our hurt, il is noticeably
strange that they should lead the cutlery
against the authors OF "A policy 80 helpful
to their countrymen, and crown with their
favor those who would snatch from them
a substantial share of a trade with other
lands, already inadequate to their neces-
sites. There is no disposition among
any Of our people TO promote pro-
hiOitory or retaliatory legislation. Our
policies are adopted not to the hurt of 9TH
ers, but to secure for ourselves these ad-
vantages that fairly grow out of our ia
vored position as a nation. Our form Of
government with its inadvent OF universal
suffrage makes It 1 imperative that we shall
save our working PEOPLE from the agita-
tions and distresses which scant work 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 enor-
nous value TO other great powers
DEVELOPING LARGE MARKET FOR OUR PRO-
DUCTS.
From the time of my induction Into Of
fee the duty OF using every power and in
huence given by law to the executive de-
partment for the development of larger
markets for our products, especially cur
farm products, has been kept constantly
in mind, and no effort has been or will be
spared to promote that end. We are un-
der no disadvantage in any foreign market
except that we pay our workingmen and
~workwomen better wages than are paid
elsewhere. Better abstract to secure for
them large foreign markets.
THE RECIPROCITY CLAUSE
of the tariff act wisely and Intellectually
opens the way to secure a large reciprocal
trade in exchange for the free admis-
sion to our ports of certain
products and the right Of
independent nations to make special recip-
rocial trade concessions il well established
and does not impare either the country
due TO other powers or what Is known as
the favored nation clause so generally
found in commercial treaties and what Is
given to one for an adequate agreed con-
siueratlou, cannot De Claimed by anofher
freely. The state of the revenues was such
that we could dispose with any import
duties upon coffee, tea, hides, and
the lower grades of sugar and
molasses. That the large advantage
resulting to the countries producing and
exporting these articles by placing them
on the free list, entitled us to expect n fair
return in way Of customs concessions
upon articles exported by MS to them was
so obvious that to have gratuitiously aban-
doned this opportunity toenlarge our trade
would have been an objectionable error.
There were but two methods of maintain
ing control of this question open to con,
gress: To place all Of these articles upon
the dutiable list subject to such treaty
agreements as could be secured, or to
place them all presently upon the free list.
But subject to the reimpositionof specified
duties of the countries from which we re-
ceived them should refuse To give to Us
suitable reciprocal benefits. This
latter method, / think, posse sses
great advantages. 1t expressesin advance
the consent of ongress better relating to
the cost of the necessaries of life. doubt
that every largely increased foreign trade
is accessible to us without bartering for
either one some market for such products
OF the farm and shop IA our own ueople