Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1891-12-10

'olBttas LOT euen httt9n as may DC neces- |
sary."
The President urges government aid in
the construction Of the Nicaraugian Canal. |
CLAIMS Foa TIE N'giSLEY BILL.
On the tariff question he says: The gen
eHl interest in the operations OF the treas
iirT department has been much augmented
during the last year by reason Of the con-
ilicting predictions, which accompanied
and followed the tariff and other legislA-
ton Of the last Congress affecting the
reycniies, as t. the results OF this legisla-
tiOn upon the treasury and upon the
country. On the one hand il was con-
tended that imports would 80 fall off Us 10
leave the treasury bankrupt, and that the
prices Of articles entering into the living Of
the people would be so enhanced as to
disas:rously affect their comfort and hap
pincss. while OH the other IL was argued
that the loss to the revenues 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, in
Guiding those most highly protected,
would not be enhanced; that labor would
have a larger market and the products Of
the farm advanced in prices, while the
treasury surplus and receipts would be
adequate 10 meet the appropriations, in
Guiding the large exceptional expenditures
for the reiundiug TO the states OF the direct
tax and the redemption OF the ~ per cent
bonds.
TIME or PROSPERITY ASD PLENTY.
1t is not my purpose 70 enter at any
length into a discussion OF the effects Of
the legislation to which ] 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 amy impartial in
nuirer that iis results have disappointed
kn
a large measure realized the hopeful pre-
diciions Of its friends Rarely, il ever
before In the history Of the country, has
there been Il time when the proceeds III
one days labor or the product of one
larlned acre would purchase 50 large an
amount Of those things that enter into
/ itSing Of the masses of the people. ! be.
/ lieye that full list will develop the fact
that the tariff act Of the 5lst congress is
1 very favorable in its average effect upon
4 the prices Of articles entering into common
/ use. During the 2 months from October
I lsi. 1880, 10 September Both, 1881, the total
\ value Of our foreign commerce, imports
and exports combined) was tie larges. If
1 any year in the history of the
United States the largest in any
previous year was in 1880, when
I our commerce amounted TO Sl,Gi1,-
1909 and the last year exceeds this
enormous aggregate by over one hundred
millions Of dollars. Ii IS interesting and
to some will be surprising to know that
during the year ending September 3Dth,
1871, our imports Of merchandise
amounted 70 1924, 1920, which was an
increase of more than Sll ,OpO,OO over the
value Of the imports of the corresponding
months Of the preceding year when the
Imports Of merchandise were unusually
large in anticipation Of the tariff legislation
then pending.
STATISTICS or IMPORTS ASD EXPORTS.
The average annual value Of the imports
Of merchandise for the ten wears from
1881 TO 1880 was SG92, 1852, and during
the year ending September 3Hh, 1851, this
annual average was exceeded by sl32 52s,-
~ and the value Of free imports during
the II months ending September 3Uth,
J 81, was SllS,J92, 3s7 more than the value
nt free imports Of dutiable merchandise
The percentage Of merchandise admitted
freeuf duty during the yeart to which have
referred-thet ir.t under thenew tariff--was
dS.ls, while during the preceding II
months, under the old tariff the percentage
was H.27, an increase of 1891 pc. cent II
we take the six months ending September
jUtli last, which covers the time during
which sugars have been admitted free Of
duty, the per cent Of value Of merchandise
imported Tree of duty is found TO be 55.37
which is larger percentage Of free i'm
ports than during any like period Of q
fiscal year in the history Of the gov
ernment. If We turn to exports Of
merchandise, the statistics are full
: of qualification. The value Of such
! exports Of merchandise for the /.
months ending September Both, 1891
: was s323, 09l ,lj9, while for the correspond
ing previous II months it was $500. III Ii,
} IN increase of G2,9l4 02l-which I,
nearly three times the average annual in
4 crease Of exports of merchandise for thu
1 preceding 70 years This exceeds il
2 amount and value the exports of merchan
+ disc during any gear III the history of Til,
2 government. The increase in the value o.
t he exports Of agricultural products durnl
5 the year referred 10 over the corTespoudin,
+ months II the prior year was $40, Si6
~, While the increase in the value OF ex
1 ports Of manufactured products wa
/, SIC, $50, $40. There is certainly nothing il
= the condition Of trade foreign ordonestic
I there is certainly nothing in the condition
! OF our people, Of any class, 10 suggest tina
! the existing tariff aud revenue Legislation
: bears opprcssively upon the people or re
tards the commercial development of til,
l nation. II may be argued tLat our condi
i ton would be better if our tariff lcgisla
r iure were upon free trade basis, bu
4 il cannot be denied that all the con
!. ditlpns Of prosperity and Of genera
contentmcnt are present in larger degree
4 AlltAll fNNl b'l'iN III blll lll5ltHl ull tilht
/ too, just when it was proplicsed the,
would be in the worst state OF agitation
I for radical changes in tariff and linancia
i legislation cannot help but may scriuasl,
q impede business 20 the prosperity Of which
4 some degree OF stability in Legislation
Il is essential, think there are conclusive
evidence that the new tariff has creates
several great industries which will within
few years give employment to scvera
o hundred thousand American working me-
I aud women. In view Of the somewha
e oycrcrOwdcd condition Of the labor maj
l. ket of the United States every patriot
citizen should rejoice at such result
c RECEIPTS AYD ESrENDirrRgs or THE NArios
,, The report of the Secretary Of the Ire;
a. sury shows that the total receipts of tn
+ government from all sources for the fisei
I year ending Jnnr Both, 1891 we're SlbS, 5ii
:, 23.O3, while Tie expenditures fol the sam
= period were Si2l ,3Ul i1O,l6 leaving SUI
y plusuf 50 20 1921. The receipts of th
/ fiscal year ending ,lune 10Th, 1852, uctui
and estimated, arc Si35 ,OU and the {,
y pendtures SiilON0,0J1. For the fiscal yea
ending June ,0th, lsaj the estimated n
l. ceipts are Si5hNB,3iO and the cNpcnd
e lures slll ,3ODml3.
4 The Presidents conclusions on the silvC
is question are given in the message as 10
II lows: Under the law Of July NH. ism
&c the Secretary 81 the Treasury has nj
1t chased since August 18th, during the Gsci
Y year 1885, HI ounces Of silver bullion {
&c m average cost Of sl.04j per ounce; III
n highest price paid during the year W
g 2125 and tic lowest sOg8G In q.
10 change for Ills silver bullion there Nah
Il been issued s5p,517i 9s Of the trcHtr
J. notes authorized by the act. The lowe
q price Of silver reached during the iist,
70 year was S0.9536 on April 22d, 1891 but &
II Nuyembur l,t the market price II.
$; only sUaG, which would give To ii
10 silver dollar bullion value ,