The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1891-02-13
to the situation in the beginning Of 1861,

to the situation 10 the beginning of 1861,
SAYS:
ssThe revenue had witheeed away without concern,
the public Indebtedness had beei ncreaseti- ana
money could be i.orrose, only nj very high rates
When Congress me, ln December, $780, The Treasury
vas e,np.y-bankrup;. There no money 10 pay
the public creditors who then pressing for pay
men,. There was not money cnnngh even TO pay
members Of Congress- In the middle o. .anuatE'
1861, General Dix. who had been appointed secretary
OF the Treasury wrote to the chairman 81 the "ays
and Means Committee, saying: within the last lew
DAYS the amount OF overdue treasury notes presented
for redemption has exceeded the power OF the Treas
urer TO place drafts in payment on the assistant
Treasurer a, New York where the holders desired the
remittance 10 be made, and accumulation OF war
rams to The amcun, OF $o.ooo has occurred on this
account on the Treasurers hands which ne has been
unable 10 pay.
We have not the extracts at hand, but Presl-
ident James Buchanan dwclt.upon the poverty
of the treasury, the ruin of manufactures ana
the business depression throughout the coun-
try, in his message to Congress.
The Morrill, Tariff Bill went into OPP
Grafton in 1912, and when Dir. Cleve-
land came in Office in 1885 the trou-
BILE was what to do with the enormous surplus.
It was made the basis of a message to Con-
gress. We have not Mr.. Manning's report,
but the present Committee Of Ways and
Means made the following report:
1--WE are advised from the aunua! repor; of the Sec
rotary Of the Treasury that the ordinary re"rIues OF
the government, actual and estimated for the fiscal
wear ending June 30, 1890. will be $5o .oco ard
that the penditures for the period. actual and
estimated. will be s293. 1000 leaving surplus Of
ss2 100000 The estimated amount required foT the
sinking fund will be $4s.32l. 90. leaving esi-
mated net surplus Of s+3679, OIL Tie excess OF
revenues over expenses estimated for III" fiscal year
ending Jane 60 1891. wc are advised from the same
source. will amount to $43,;s9,522.30, which. with
the amoun, Of cash now on hand and available
reaching nearly seo.6OO,ooo the committee believe
will Justify reduction Of the revenue in the sum CON
,cinpl.ted b:- this bill
Ii has been only within the past ten years
that the South began to derive great benefit
from the protective tariff, but let US see what
has been accomplished within the ten years:
Cotton mills in 20. .,........... ~
Cotton mills in SO. ...... .............-.-. $40
Increase, Ia2 per cent.
Cotton consumed in SO. bales. lSo'oco
Cotton consumed in 50 bales ............ $4,000
Increase, l74 per cent.
Pig iron produced in So tons. .....--....- 2ll'o'~
Pig iron produced in So tons .....--..... l,''oGoVo
Increase. '.55 per cent
Coal produced in 80, tons 1887
Coal produced in 80 tons i2.'4' 'ooo
Increase. 5O3 per cent;
TOTAL VALUE OF PRODUCTS
Value of products in so .............s 3,:47 ,l45
Value Of products in SO. 81. $50
Increase. SIS per cent,
Every country in Europe, except England
and the Netherlands, has a high protective
tariff. On the l4th of May, 1852, Bismarck,
the greatest living statesman, in speech be-
fore the German Rcchstag, said.
1he success o, the United States in material deyel-
opnen, is the most illust7iou Of modern time. The
| American nation has not only successfully borne and
suppressed The gigantic ami expensive war Of all
| history. but Immediately afterwards dis5and'd lis
army. found employment for all il soldiers and ma
rincs paid Off most of It's debt. gave labor and
homes TO all the unemployed Of Europe as fast as they
could arrive within it, territory. and still by system
Of taxation 50 indirect no. 10 he perceived, much
less felt. Bccuasc II IS mv deiibcrGtc jVdg@lat
that the prosperity Of Amcrca is mainly due 70 IT,
system Of protcctjre lars I nrge that ticrD'nny
has no,c rcGchcd that point Wbcre ii Is necessary
a. ~ q. fbT
The Rcichstag did increase the duties, and
now Germany is more prosperous than ever
before in its history. The increased duties did
not increase the price of the articles produced in
Germany, but they so stimulated German
manufactures that they are now sold in Lon
don cheaper than Frec-tradc England can sell
| them.
In regard to the free and unlimited coinage
of silver, VIC would IKE for our contemporary
| to point to single national Democratic plat
form, in the history of the party, or single,
leading Democrat previous to 1880 who advo-
| Gated such policy. 1t is undemocratic; II Is
injurious; it is diotic.
Democratic politicians since the war seem to
have entirely reversed the old established
principles of the party, and they have done so
merely to secure places for themselves with
| out any regard whatever to the interests of the
people The doctrine on which the party
was originally established favored a protective
tariff opposed an internal revenue and en-
dorsed the single gold standard for money.
Now, according to the alleged leaders, the
party opposes protective tariff, favors an in
ternal revenue tax and would have substituted
huctuating silver standard for the gold
standard.
And what amazeS us is that these little po-
litical bosses have nred the masses Of the
party from the principles Of Jefferson and
Madison and Jackson and led them to the
qualification of the most cherished doctrines
and traditions of the party.
The age Of statesmen has passed and the
age of the ring master and the pcttifogger has
come. They lash the rccalcitrants as the cow
boy lashes his cattle, keeping them in line and
compelling them to abandon all conviction and
independence of action. "Those who are
not free traders must take up their grip-sacks
and walk,' cxclaims the lunatic of Louisville;
and no one has walked into more different
camps, has enlisted under more diverse colors,
or has advocated more conflicting doctrines,
than be.
So far as We are concerned, we snap our fin
pcrS in thc face of the whole scuttlcShn crew