The Globe-republican., 1890-12-10

|
| er shows a large amount of good work done
during the year with very limited appropri-
atoms.
The Country's Trade.
congratulate the Congress and the coun-
! try upon the passage at the first session OF
| the Fifty first Congress of an unusal number
of laws of very high Importance. That the
result of this legislation will be the quicken
| ing and enlargement of our manufacturing
industries, larger and better markets for our
| breadstuffs and provisions, both at home and
abroad, more constant employment and bet
ter wages for our work ling people and an in
creased supply of safe currency for the
transaction of business, do not doubt. Some
of these measures were enacted at so late a
period that the beneficial effects upon COM
merce which were in the contemplation of
Congress have as yet but partially manifest
ed themselves.
The general trade and Industrial conditions
throughout the country during the year
have shown marked improvement. For
many years prior to 1888 the merchandise
balances of foreign trade had been largely in
our favor, but during the year and the year
following they turned against us. 1t is very
gratifying to know that the last fiscal
year again shows balance in our
favor of over SGS,OOO0OO. The bank
clearings, which furnish a good test
of the volume of business transacted
for the first ten months of the year 1890 show,
as compared with the same months of 1859,
an increase for the whole country of about
s4 per cent, while the increase outside of the
City of New York was over II per cent. Du-
ring the month of October the clearings of
the whole country showed an increase of 81
per cent. over october. 1883, while outside of
New York the increase was 1ll2 per cent.
The value of our exports of domestic mer
chandise during the last year was over S1I5,
was only exceeded once in our history.
About 100000 900 of this excess was in agri-
cultural products. The production of pig
irOn-alwaySa good gauge of general pros
perity-is shown by recent census bulletin
to have been 153 per cent. greater in 1880 than
in 1880 and the production of steel 200 per
cent. greater.
1he Mckinley Tariff Bill
The apprehension that our tariff may again
and ut once be subject to important general
changes would undoubtedly add depress-
ing influence of the most serious character.
The general tariff act has only partially
gone into operation, some of its important
provisions being limited to take effect at
future dates. The general provisions of the
law have been in force less than sixty days
Its permanent effect on trade and prices still
largely stand in conjecture. 1t is curious to
note that the advance in prices of articles
wholly unaffected by the 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
wholly apart from the late tariff Legislation
The enlargement of our currency by the
silver bill undoubtedly gave an upward ten
dency to trade and had marked effect on
prices, but this natural effect of the silver
legislation was by many attributed to the
tariff act There is neither wisdom nsr SuS
gestion that the subject of tariff revision
shall be opened before this law has had a fair
trial. 1t is quite true that every tariff sched-
ule is subject to objections. No bill was ever
framed, suppose, that in all of its rates and
classifications 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 excep-
ton, but in its general scope and effect l
think it will justify the support of those
who believe that American legislation
should conserve and defend American trade
and the wages of American workmen- The
transformation as to the terms of the act
which has been widely disseminated at
home and abroad will be corrected by ex-
perience, and the evil auguries as to its re-
suits COMPOUNDED by the market reports,
the savings banks, international trade bal
ances and the general prosperity of our peO-
pie. Already we begin to hear from abroad
and from our custom houses that the prohib-
itory effect upon importations imputed to
the act is not justified The i'm
ports at the port of New York
for the first three weeks of November were
nearly per cent. greater than for the same
period in 1888 and % per cent. greater than in
the same period of 1sSS. and SO FAR from be-
ing an act to Limit exports I confidently be-
lieve that under it we shall secure larger
and more profitable participation in foreign
trade than we have ever enjoyed and that we
shall receive a proportionate participation
in the ocean carrying trade of the world.
The criticisms of the bill that have come to
us from foreign sources may well be rejected
for repugnancy. If these critics really be-
lieve that the adoption by US OF n free trade
policy or of tariff rates having reference
solely to revenue would diminish the partc-
! iDation of their own countries IN the com
merce of the world their advocacy and pro-
motion by speech and other forms of organ
| lied effort os this movement among our peo-
| pie is an exhibition of unselfishness in trade
/ And on the other hand IL they believe the
/ adoption OF protective policy by this coun-
| try inures 70 their profit il is noticeably
/ strange that they should lead the outcry
against the authors of a policy so helpful to
] them. ard crown with their favor those VINO
| would snatch from them substantial share
! of a trade with other lands already made
| ouate to their necessities.
| There is no disposition among any OF our
! people to promote p-ohibitory or retaliatory
/ legislation. Our policies are adopted not TO
the hurt OF others. bat to secure for.ourselves
/ those advantages that fairly grow out OF our
| favored position as Nation Our form of
! Government. which is incident of universal
suffrage makes il imperative that We should
save our work ing people from the agitations
/ and d stre<S es which scant work and wages
that have no margin for comfort always be-
get. but after all this is done it viii be found
! that our markets are open to friendly com
mercial exchange of enormous value TO the
other great powers. From the time
O. nv induction into Office the duty
! of using every power and influence
! given by the law to the Executive Depart
ment fox the development of larger markets
for our products. especially our farm pro-
ducts, has been KEEP. constantly in mind and
no effort has been made or will be spared to
promote that end. We are under no disad-
| vantage in any foreign market except that
We pay our workmen and Wockwomen better