Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1890-08-28
TARIFF ARGUMENTS.
4 GREAT SPEECH BY CONGRESSMAN
BUCHANAN, OF NEW JERSEY.

DOSFlNiNrAiNg VT iNC" GEHOGI.
Hon. James Buchanan, member of
congress from New Jersey, has printed
in the Congressional Record of July IS
one of the best and most comprehensive
arguments in defense of Protection and
of the Mckinley bill which has hitherto
appeared. 1t covers the whole field of
tariff discussion in the light of current
events. We present few extracts from
ii as follows:
EFFECT OF TIE BILL.
What effect will this bill. if it be-
comes law, have upon the prosperity
of the country? Will it advance or re-
tard such prosperity? Many gentlemen
have assumed, with great confidence, to
give full and positive answers to this
question. But when we find that these
answers differ as widely as ''yes" and
mo" our confidence In the proof Is
shaken. All cannot be correct
My own Judgment, whatever that
may be worth, is that the effect upon
the country of any enactment upon any
financial, commercial or Industrial sub
ject can never be accurately foretold.
So many conditions to the problem ex-
list, so many contingencies are liable to
arise, such unforeseen changes in cir
cumstances may occur, that results nice
ly calculated and confidently predicted
may utterly fail to materialize We can
only have a general Judgment based
upon the experience of the past, the
wants such experience has demonstrated
to exist, and the apparent adaptability
of the bill to supply these wants. AS l
have said, the bill is constructed upon
protective lines.
NATIONAL GROWTH IN THE PAST.
Under that policy in the past we have
had as a nation a wonderful prosperity.
have here the Statistical Abstract of
the United States for the year 1889. 1t
is compiled by the bureau of statistics,
under the direction of the secretary of
the treasury, and its figures are official
and accurate. From it l gather these
figures:
In 1867 our national debt, less cash In
the treasury and exclusive of accrued
interest, was S2,5OS, Isl ,211.69, being
s69.26 of principal and 1884 of annual
interest charge to each person. In 1899
it was ION the same basis 1915, ,939, 75022,
or s15.12 of principal and so cents an
nual interest charge per person.
In 1SS3-'S4 our savings banks had
3,O15,955 depositors, and 81 ,O73, ,294 $50 of
deposits. In 1SSS-'89 the depositors We're
4,021 ,523, and the deposits 81 ,425 ,230, ,349.
In 1880 we mined 70,4S1, ,426 tons of
coal; in 1888 we mined 142 ,037, 735 tons.
In 1870 we made 1,G85,179 tons of pig
iron; in 1888 we made 6,499, 1888 tons.
Our production Of minerals, ranging all
the way from gold to building stone,
was in 1894, S413, 3,9O1, ,74S; and in 1888 it
was S591, ,672, ,795.
chandise were 1916, 242 423; in 1889 they |
had risen to $3.50, ,2S2, 500. In 1870 we
made 553, $40 tons of iron and steel rails; |
In 1888 we made 1, ,403, 500 tons In 1869
we raised 26O, 146, 900 bushels of wheat
in 1888 we raised 415, 1855, 900 bushels. In
1869 we produced 874, 1920, 900 bushels of
corn; in 1888, 1887, 700, 900 bushels. The
total tonnage entering our ports (sail
and steam) was 5,008, ,4S7 tons In 1866
and IL, ,952, ,119 in 1888. OF this ,891 ,453
tons in 1860 was American, and in 1889
8, 724, 325 tons was American. In 1860
we had 2S, ,498 postoffces, yielding q rev.
nue. Of S., sis, ,067; in 1889 we had 58, 300,
yielding a revenue of $50, 175, oil.
In 1860 we had 1885 miles Of railway
in the United States; In 1889 we had
161 ,255 miles, and have been building at
the rate of about 5000 miles each year
for several years past. These roads rep
resent a total investment of nearly
50 SOC, ,000, 900, and their gross earnings
exceed $3.50. 900, 900. In 1S71-'72 the pub
lie schools of the country cost $40, O,891,-
374; in 1eS7-'89 the cost was 1922, 49,
252 The total number Of acres devoted
to the production Of grain was 65, ,638, ,444
in 1867, and 148, Psi 600 in 1888, and the
total product had risen from 1, 1929, 729, 400
bushels in 1867 to 5000, 742, 900 bushels
in 1888. The total number of farm ami
mails in 1867 and in 1890 were: