The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1891-01-09

which furnish a good test of the tpiun.t 81
business transacted for the First ten months
of the year 1890 show, AS compared with the
same months OF 1880, an increase for the
whole country OF about 8.4 per cent, while
the increase outside Of the city of New
York was over IL per cent, During the
month OF October tho ~clearings OF the whole
country showed an Increase Of 81 per cent.
over October, 1885, while outside of New
York the increase was liz per cent. These
hgures show That the Increase in the vol.
m OF business was very general through.
out the country. Thut this lsrget business
was being conducted upon \ saFH ind profit
able basis is showh by the fact that there
were 400 less failures reported in October,
ls9o. than In the same Moath OF the pre-
ceu1ng year, with liabilities diminished by
about S57, 900, 900. The value Of our exports
Of MERCHANDISE during The last sant Was
over S115.oOo 600 greater thau Vic preceding
year ard was emily Exceeded once in our
history, Ahoht 500, 900, 900 of this excess
WIS IN agricultural products. The produce
ton tof pig iron-always u good enuge Of
general prospcrity-is shown by
1853 per cent, greater in 1850 tkal In
1850, and the production bf steel 200 per
cent. greater. Mining In coal has had no
limitation except that resulting from inefa-
cient transportation. The general testi-
mony is that labor is everywhere fully EN-.
ployed, and the reports for the last year
show a smaller UNI Der of employees afectet
by strikes and lock.outs than III any wear
since 1854. The aepseeslon in the prices of
Agricultural Products has been greatly re-
ileVeu ahd a bouyant and hopeful tone
was beginning to be felt by all our people,
Ihese promising influences have besn In
some degree checked by the surprising and
have recently taken place in England. It
Is gratifying to know that these did not
grow In any degree out Of financial rela-
tlons with our people, or out OF my dis
credit attached to our securities held in
that market. The return OF our bonds and
stocks was caused by 4 money stringcncy in
England, not BY any loss Of value or credit
In the securities themselves. We could
not, however, wholly escape the ill-effecte
OF a foreign monetary agitation, acroth-
panied by such extraordinary Incidents as
characterized this It is not believed, how
ever, that these evil incidents which have
for the time ~unfavorably affected values in
this country, can long withstand the strong,
safe and wholesome influences which are
operating to give to our people profitable
returns in all branches of legitimate trade
and industry.
The apprehension that our tariff may
again and at once be subjected to impor-
tant general changes would undoubtedly
add a depressing influence of the most seri-
GUS character. The general tariff art has
only partially gone into operation, some OF
It's important provisions being limited to
take effect atdates yet in the future. The
general provisions Of the law have been in
force less than sixty days. Its permanent
effect upon trade and prices still largely
stands In conjecture. 1t Is curiou to note
that the advance in the prices of articles
wholly una ffected by the tariff act was by
many hastily Inscribed to that act. Notice
was not taken of the fact that the general
/ tnhHpnNv nf tho ~ pEotc Huac NV VII frD,,
influences wholly apart from the recent
tariff legislation. The enlargement of our
currency by the silver bill undoubtedly
gave an upward tendency to trade and had
a marked effect on prices. but this natural
and desired effect Of the silver
neously attributed to the tariff act.
There is neither wisdom nor justice in the
suggestion that the subject of tariff revision
shall be opened before his law has had a
tair trial. 1t Is quite true that every tariff
schedule is subject to objections. No bill
was ever framed. l suppose, that in all OF
It's rates and classtfcatlons had the full APP
prevail OF even u party caucus. Such legisla-
ton Is always and necessarily the product
OF compromise us to details, and the present
law is no exception. But in its genera
scope and effect l think it will justify the
support of those h believe that American
legislation should conserve and defend
American trade and the wages of American
Workmen. The misinformation as to the
terms of the act which has been so widely
disseminated at home and abroad, will be
corrected by experience, and the evil
augurtes as to its results confounded by the
market reports. the savings banks, inter-
national trade balances, and the general
prosperity Of our people. Already We be-
gin to hear from abroad and from our GUS
tom houses that the prohibitory effect upon
importations imputed to the act is not justi-
fed. The imports at the port Of New York
for the first three weeks of November,
here nearly 8 per cent. greater than for the
same period in 1889, and 90 per cent. greater
than in the same period of 1883. And so fan
from being an act to limit exports, I conf
IDENTIFY believe that under 1t we shall secure
a larger and more profitable participation
in foreign trade than we have ever enjoyed,
and that we shall recover u proportionate
participation in the ocean carrying trade OF
the world. The criticisms of the bill that have
come to us from foreign sources may we'll be
rejected for repugnancy. If these critics
still believe that the adoption by us of q
free trade policy or OF tariff rates having
reference solely to revenue. would diminish
the participation OF their own countries in
the Of the world, their advocacy
and the promotion by speech and other
forms of organized efforts of this movement
among our people is q rare exhibition OF
usefulness in trade. and on the other nand,
II they sincerely believe that the adoption
Of a protective tariff policy in this coun-
noticeably strange that they should lead
the ontcry against the authors
OF q policy so helpful to their country
men, and crown with their favor
those who would snatch from them
a substantial share of q trade with other
lands, already inadequate to their %necessi-
ties. There is no disposition among any OF
our people to promote prohibitory or retail
iatory legislation. Our policies are adopted
not to the hurt of others, but to secure fol-
ourselves these advantages that fairly grew
out of our favored position as a nation.
Our form Of government with its incident OF
universal suffrage makes 1T imperative that
we shall save our working people from the
agitations and distresses which scant work
and wages that have no margin for comfort
always beget. Blu after oil this is
done 1t will be found that onl
cial exchanges of enormous value tC
other great powers From the time of my
induction into Office, the duty of using
every power and influence given by law to
the executive department for the develop
ment of larger markets for our praducts,
especially our farm products. has been kept
constantly in mind, mi no effort has been
or will be spared to promote that end. We
are under no disadvantage in any foreign
market except that We pay our w~orkingmer
and workwomen better wages than
are paid elsewhere, relative to 9the
cost of the necessaries OF life
I doubt that every largelysincreased for
eign trade is accessible to US without bar
tering for either our home market for such
products of the farm ind shop as our owT
people can supply, or the. wages of oul
WORKING people. In many OF the products
OF Wood aud iron and In meats and bread
tstuffs, w4haye adyantages that only need
better facilities OF intereststhan transporta.
tion \ o secure fortlem large foreign
( markets. The reciprocity clause OF ths
aa@tavif net Wisely and effectually opens Ink
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