Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-12-02

100 100 uansdcteu Ior the first month OF the year y
I9S1, 10 SHOWS, as compared vita the same months
OF 1881. an increase for the whole country of
"oIut % per cent while the increase outside
" 1,i .He city OF New York, was over Is per cent
Dutlng the month of October the clesrinf-S of
the Whole couotry showed an increase 9fsI
Per eent. over October 1889 while outside of
80 lork the Increase was lI}S per cent
inese hgufes show that the increase in the
volume OF business wss very ea,e-aI thIonghoit
the country. That this larger brsiuese yvss be
II! ihs SonGueted upon safe and prof able basis
ls SHOWN by the flct that there were so less
failures reported ia October ISqo ibsn in ihe
same ncntn OF the preceding year, With iiabiIi-
'lgS =, ulhinlshea py aoor! 55 yQJ.O0
Inc value OF our exports OF dCr, etic rrar
ehandlse during the last year was over s1j5
OsO,Ol0 greater han the preceding year and
y, @ss Is OILY exceeded once in our history About
products "st4Sui'u4a "a
The production Of pig-iron-siways coed
ssrge OF general prospedty-is shown by q re-
c nj census bulletin to have been i55 per cert.
greater in 1880 than i'll 1880 and Ihe nToducfion
Of st el go per cent. greater,
Mining ~ eaal mas had no limitation, except
that resulting from inefficient trensno. .tatIOn,
The general testimony is that labor is eTery-
Where fully employed, and the reports for the
ies isst year snow smaller number Of enp.oyes
year since lisa 40 ""'
The depression in the prices Of agricultural
prIaucts mad been greatly relieved and buoy-
ant, hopeful feeling was beginning TO he felt ty
all cur people. These promising Influences
nave oeen IL some degree checked By the sur.
ptislng and very unfsyorsbie monetary events
whlch have recently 'zEen place in England
y is gratifying - knc this did not grow in any
Cegree cut of the tinaacIal relations of London
WIN WIN our people, or out Ct any discredit at
taehed to our securities held in that Inarket.
The return OF our bonds ard stocks was caused
oy money stringency in England. and not by
any loss OF value or credit IN the securities
themselves. We could not however, whoIiv
escape the iii effects of q foreign monetary apf-
tatlon, accompanied by such INC dents as char
acteIized this II is not believed, however that
Vflf IN l. -.
unfavorably affected valCes in this country. can
long withstand the strong safe and wholesome
influences which are operating 20 give to our
gitimste trade and industry.
THE TARIFF
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
general Tariff Act has only partially gone into
operation, sumo of its important provisions be-
ing limited to take effect at dates yet in the fI
ture. The general provisions of the law have
been in effect less than sixty days. Its perma-
nent effect upon trade and prices still largely
stand in conjecture. Il is curious to note that
the advance in the prices of articles wholly IN
affected by the Tariff Act was by many hastily
ascribed to that Act.
Notice was not taken of the fact that the gen
eral tendency OF the markets were upward
from influences wholly apart from the recent
tariff legislation. The enlargement of our
currency by the silver bin gave an upward ten
dency to trade, and had marked effect on the
price, but this natural and desired effect of sill
yer legislation was by many errcneo ously at
tTibuted TO the Tariff Act.
There is neither wisdom nor justice in the
suggestion that the subject OF tariff revision
shall be opened before this law hes had a fair
trial 1t is quite as true that every tariff
schedule is subject TO objections. No bill was
ever framed, suppose. that III all OF rates and
classiications had the fV!l approval even of the
party caucus. Such legislation is always and
necessarily the product OF compromise. AS
to the Details the present law is no exception,
but in its general scope and effect 1t will JUS
tify the support of those who believe that
American legislation should conserve and Ge-
fend American trade and the wages of AmeLi-
can workmen. The misinformation as to the
terms of the Z CT, which has been SO widely
disseminated at home and abroad will be cor
rected by experience. Already we begin to
hear from abroad and from our cuSto u houses
that the prohibitory effect upon importatio1s
imputed to the Act is not justified
The imports at the port OF New York itr the
first three weeks of November were nearly
per cent greater than for the same period in
1889, and 29 per cent greater than in the same
period of 1885, and, so far from being an Act to
limit exports, confidently believe that under
participation in foreign trade than we have ever
enjoyed, and that we shall recover proper
tionate part cpation in the ocean carrying trade.
of the world.
The criticisms of the Act which have come to
us from foreign sources may well be rejected
for repugnancy. II these critics really be-
lleNe lnaC the ADOPTION Oy US OF tree-
trade policy of tariff rates, having reference
solely TO revenue, would diminish the par
ticipation of their own countries in the COM
merte of the world their advocacy and the pro-
motion by speech and other form of organized
effort OF this movement among our people is a
rare exhibition OF uuselfshness in trade; and,
on the other hand, if they sincerely believe that
the adoption of protective tariff policy by this
country nures to their profit and our hurt it is
notlceably strange that they should lead the
outery against the authors of policy so hope
thpjr
favor those who would snatch from til. IN q sub
stantial share of trade with other lands ell
ready inadequate to their necessities
There is no disposition among any OF our pao.
pie to promote prohibitory or Ietalistory less-
lation, Our policies are adopted not to the hurt
of others but to secure for ourselves those ad-
vantages that ordinarily grow out of our favored
position as nation.
Our form o. government, with its incident of
universal siltfrages, makes it imperative that
we shall save our working people from the agi-
ta:ions and distress which cheap work, that
leave no margin Tor comfort, always beget But
after all this IS done. it will be found that our
markets are opened to friendly commercial ex-
changes of enormous value to other great
powers.
From the time of my induction into office the
duty OF using every power, and its influence
given by law to the Executive Department for
the development of larger markets for our prod
,, I,cts, esPeclaliy our farm products, has been
been or will be spared to promote that end
We are under no disadvantage in any foreign
and workwomen better wages than are paid
elsewheFe-bat.er abstractly, better relatively
to the cost OF the necessaries Of life.
:, l do not doubt that very largely increased
iHreign trade is accessible to us Without barter
ing either our Eome market for such products
of the farm and shop as our own people can
supply for the wages of our working people
RECIPROCITY.
In many of the products of wood and iron.
and in meats and b b'eadstufs, we have advant-
ages that only need better facilities of inter
course and transportation TO secure for them
large foreign markets. The reciprocity clause
of the Tariff Act wisely and in effect opens the
way to secure large reciprocal trade in ex-
change for the free admission to our ports of
certain products The right of independent
nations to make reciprocal trade concessions is
well established, and does not impair either the
comfy due TO other Powers or what is known
as the Favored nation clause" so generally
found in commercial treaties. What is given to
one for an adequate agreed consideration can
not be Claimed by another freely.
The state of the revenue was such that we
could dispense with any import duties upon
coffee, tea, hides and the lower grades of sugar
and molasses. That the large advantage re-
sulLing TO the countries producing and export
ing these articles, by . aeing them on the free
So. entitled US to expect fair return in any
way of Customs concessions, upon articles ey-
ported by US 10 them, was so obvious that to
have gratuitously abandoned this op pcor.rnity
TO enlarge our trade would have been an uf-
pardonable error. There were but two methods
of maintaining control OF this question open to
Congress-to place all of the articles on the
dutieble list subject TO such treats agreements
as could be secured or place them ali upon the
free list, but subject 10 the reimposition OF
specified duties If the countries. from which we
received them should refuse to give suit
able reciprocal benefits.
This latter method possesses great advantages,
1t expresses in advance the consent of Congress
20 reciprocity arrangements affecting these pro-
ducts which must otherwise have been DELAYED
ana unasceitalned until each treaty was ratified
by the senate, and the necessary legislation en-
acted by Congress.
Experience has shown that some treaties look
ing 10 reciprocal trads have failed to secure q
twC-tnlrds vote in the Senate for ratification
and others having passed that stage have for
ye=rs awaited the concurrence of the House
and senate in such modification of our revenue
laws as were necessary to give effect to their
PROVISIONS
We now have the concurrence of both houses
IN ADVANCE in distinct offer of free entry to
our ports of specific articles The Executive is
not required TO ceal in conjeetures as to what
congress will accept. Indeed. this reciprocity
provision is more than an offer but part
OF the bargain is complete; the delivery
mas been made, and when the entries from
which we receive sugar, coffee Tea and hides
nave been placed on their free lists such of our
products as shall be agreed upon as an equiya-
ieht ior our concessions, and proclamation of
that TACT completes the transact on and in the
meantime our peODie have FREQ co1iee roo eud