The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1891-12-18

ports would so fail OF az to leave the
treasury bankrupt and that the prices OF
articles entering into the living of the peo-
pie would be so enhanced as to disastrously
affect their comfort and happiness. while
on the other it was argued that the loss OF
the revenue largely, the result of placing
sugar on the free list would be direct gain
to the people, that the prices of the
necessaries of life, including those most
highly protected, would not be enhanced;
that labor would have larger market and
the products of the farm advanced prices;
while the treasury surplus and receipts
would be adequate to meet the appropria-
tions, Including the large exceptional ex-
pendItures for the refundn9 to the states OF
the direct tax and the redemption OF the 4i1
per cent bonds
II is not my purpose to enter at length
into a discussion of the effects of the legis-
lation to which 1 have referred: but brief
examination of the statistics of the treasury
and a general glance at the state OF business
throughout the country will. think, satisfy
any impartial inquirer that its results have
disappointed the evil prophecies OF its op-
ponents and in a large measure realized the
hopeful predict ons of its friends. Rarely.
IL ever before, in the history OF the country
has there been time when the proceeds of
one days labor or the product OF one farrned
acre would purchase so large an amount OF
those things that enter into the living OF the
masses of the people. belieye that full
test Will develop the fact that the tariff act
of the Fifty first congress is very favorable
in its average effect upon the prices OF
articles entering into common use.
EFFACrs OF THE TARIFF.
During the twelve months from October !.
1890 to September 80, 1891. the total value OF
our foreign commerce imports and exports
combined) was Il. az, s0j 406. which was the
largest of any year in the history of the
United States The largest in any previous
year was in 1S9J when cur commerce
amounted to Il 6I7. 1879 O93, and the last year
exceeds this enormous aggregate by over
one hundred millions. 1t is interesting and
to some will be surprising. to know that
during the year ended September 30, 1881,
our imports of merchandise amounted to
S>24 7lj,27O which was an increase of more
than I1,'OO,0JO over the value of the i'm
ports of the corresponding months Of the
preceding year. when the imports OF ner-
chandise were unusually large in anticipa-
tion of the tariff legislation then pending
The average annual value of the imports of
merchandise for 1851 to 1897 was So, ,ls6, 552,
and during the year ended September 30,
1891 this annual average was exceeded by
sIS2 5.s,4j9
The value of free imports during the
twelve months, ended September 80, 1891,
was slls, s,U92, ,3S7 more than the value of free
months of the preceding year, and there
was during the same period decrease of
sln6, $40. sos IN the value of imports of dutiabe
merchandise. The percentag of merchan-
disc admitted free of duty during the year
to which I have reference, the first under
the new tariff was 4s IS, while during the
preceding twelve months, under the old
tariff, the percentage was 3i..7 an increase
of 1891 per cent. II we take the six months
ending September 30 last, which covers the
time during which sugars have been admit
ted free of duty, the percentag, of value OF
merchandise imported free of duty is found
to be 55.s7, which is a larger percentage of
free imports than during any prior fiscal
year in the history of the government
IL we turn to exports of merchandise the
statistics are full of qualification. The
whole of such exports of merchandise for
the twelve months ended September 30 1891
was 1923 ,09l, ,l36 while for the corresponding
previous twelve months it was :S6 l,lT,ll5,
An Increase of 81, 9l4,J2l. which is nearly
three times the average annual increase OF
exports of merchandise during any year In
the history of the government The increase
in the value of expor,s of agricultural
products during the year referred TO over
the CORE ,ponding twelve months of the
rrior year, was s45 $40, 1877, while the increase
in the value of exports of manufactured
products was s16,s3S 24l
There is certainly nothing In the condition
of trade, foreign or domestic. there is GER
tainly nothing in the condition OF our people
of any class, to suggest that the existing
tariff and revenue legislation bears oppress-
lively upon the people or retards the COM
mercial development of the nation. 1t may
be argued that our condition would be bet
ter if our thrift lie sislation were upon a free
trade basis; but it cannot be denied that all
the conditions of prosperity and of general
contentment are present in a larger degree
than ever before in our history. and that
too. just when il was prophesied they would
be in the worst state. Agitation for radical
changes in tariff an financial legislation
cannot help but may seriously impede busi-
ness, to the prosperity of which some degree
of stability in legislation is essential.
think there are conclusive evidences that
the new tariff created several great indus
tries which will. within a few years, give en-
ployment to several hundred thousand
American working men and women. In view
of the somewhat overcrowded condition of
the labor market of the United states, every
patriotic citizen should rejoice at such Il
result.
The report of the secretary of the treasury
shows that the total receipts of the govern
ment, from all sources, for the fiscal year
ended June 81, 1891. were 5s.5i4 2ssO3. while
the expenditures tor the same period were
s4!I sOI, ,47O.I6 leaving surplus of ss7, 2s9 76,
81.
The receipts OF the fl seal year ending June
81, 1892, actual AMI estimated ure SI3i OJO, O0J
and the expenditures SIO9,pOl,O 900. For the
fiscal year ending June 81, ls9i, the estimated
receipts are S45D, ,55 80 and the expenditures
SAL, 3J0,09S.
SILVER AND ITS CONNECTIONS.
Under the law of July, "a. IS ~. the secre-
tary of the treasury has purcha ell since
August l3 during the fiscal year 1898. 1i3
ounces of silver bullion at an average cost
of 81 045 per ounce The highest price paid
during the year was S1203i and the lowest
sO.96S6. In exchange for this silver bullion
tn re have been issuei of the treasury
notes authoriz ID by the act. The lowest
price of silver reached during the fiscal wear
was 30 on April "a 1891; but on Novem.
ber the market price was only so 9j, which
would give to the silver dollar a bullion
value of 7iA cents.
Before the influence OF the prospective e
silver legislation was felt in the market
silver was worth in New York about 50 955
per ounce. The ablest advocates of free
coinage in the last congress were mot CON
fdent in their prediction that purchases by
the government required by the law would
at once bring the price of silver to l. 929 per
ou ace, which would make the bullion value
of a dollar one hundred cents and hold il
| there. The prophecies of the anti i-silver
men of sasters to result from the coinage
| of Z, 90 700 per month were not wider of the
mark The friends of free silver are not
| agreed, think, Us to the causes that brought
their horeful predictions to naught Some
| facts are known The exports of silver
from London to India during the first nine
months of the cal-ndar year. fell off over fifty
| per Ct mt or :l7,2J!,7Sl, compared with the
same months of the pr. ceding year The
| exports OF domestic silver bullion from this
| coun ~. which has averaged for the last
ten years over $500, 900. fell in the last
fiscal year to Sls.7g7 ,S9I; while. for the first
tine in recent years, the imports of silver
into this country exceeded the exports by
the sum of S2,745 355. In the previous year
I the net exports OF silver from the United
slS