The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1891-02-06
WINDOWS LAST WORDS.
Text of the Speech Delivered by the Sec.
rotary just Before He Died.

Cry prosperity DepeuO0nG u pom Its In
struments of Commerce., Mr.. Window
said:
am to speak briefly of the instru-
ments of commerce in relation to the
wealth and prosperity of the country.
The subject is very broad and my time
very limited. l shall, therefore, confine
my remarks to the two chief instrument
talities of commerce = transportation
and money.
A nations wealth and prosperity are
usually in proportion to the extent and
success of its commerce, and commerce
itself is dependent upon the adequacy
and adaptation of those two essential in
struments The history of all civilized
countries attest the fact that the nation
best equipped in these respects, rapidly
becomes the most powerful, the richest
and the most prosperous.
Our own country is no exception to
the rule. No nation has ever fostered
more literally, or protected more care
fully, its internal and coastwise trade
than we have done, and the resultant
magnitude and prosperity of our domes-
tic commerce is, l believe,
without a Parallel in History.
We have more miles of railroad than
all Europe, Asia and Africa combined.
The floating tonnage Of the United States
engaged in coastwise commerce, and on
our lakes and rivers, is far in excess of
that of any other nation. Our increase
of wealth from 1870 to 1890, as COM
pared with that of other nations. was:
United States, $13, 573, 491 ,493; Great
Britain, $3,25O, 600, 900; France, 81, 49,
600, 700; Germany, So, 625. 900. 900. Our
home markets in 1880 absorbed five
times as much of our manufactured
products as Great Britain exported of
hers to all the markets of the world.
Compare4hese grand results of our
literally developed domestic commerce,
operating upon our protected industries
with the present shameful condition of
our foreign carrying trade.
We stood First Once.
There was a time when we stood first
among the nations in ship building, and
Great Britain alone excelled us in ocean
tonnage. Once 50 per cent. of our i'm
ports and 80 per cent. Of our exports
were carried in American boats, and our
merchant marine became the boast of
every citizen and the envy of the world.
Now, so far as foreign trade is con-
cerned, our ship yards are comparatively
silent, and our flag has almost disap-
peared from the high seas. In my
Judgment
The Remedy Is Plain
and easily applied. If we would regain
our lost prestige, reinstate our flag upon
the ocean and open the markets of the
world to American producers, we must
make the contest with the same weapons
which have proved so successful in the
hands of our rivals. The folly and dam
ger of depending on our competitors for
the means of reaching competitive
markets cannot be estimated
Suppose that for twenty-five years we
had given S. 5000, 900 year in aid of our
foreign shipping, and reduced by that
amount the prepayment of our bonded
debt, should we not have been far bet
ter Off than we are now?
Protection or Shame?
Shall we give that protection and sup
port to our foreign merchant marine
that other nations give to theirs, or
which we freely give to all other great
interests, or shall we accept as inevita-
BILE our present shameful position?
Presidents of the United States have
repeatedly expressed the national situa-
ton and appealed to congress for action
in behalf Of our rapidly vanishing mer-
chant marine, but thus far their words
have fallen upon deaf ears. Let us hope
that the urgent appeals of President
Harrison on this subject may bear fruit
in some well devised measure of protec-
ton and encouragement.
Currency Question.
Il : = Z sential to commerce that the
cur ~ with which it is conducted be
adapted, both in quantity and quality,
to the wants of trade as that the vehi-
cles OF transportation should be adapted
to their purposes.
The ideal financial system would be
one that should furnish just enough of
absolutely sound currency to meet the
legitimate wants of trade, and no more;
and that should have enough elasticity
of volume to adjust itself to the VARYING
necessities Of the people. Could such a
circulating medium be secured the
gravest commercial disasters which
threaten our future might be avoided.
These disasters have always come when
unusual activity in business has caused
an abnormal demand for money as in
the autumn for the movement of our
immense crops. There will ALWAYS be a
great danger at those times under any
cast iron system of currency such as we
now have. Had it not been for the Pc
culiar condition which enan,ed the
United States to disburse over $75. OOO.-
600 in about two and half months last
autumn, | am fully convinced that the
stringency in August and September
would have resulted in widespread finan-
cial ruin.
A Better Method Might Be Devised.
am thoroughly convinced that bet
ter method can be devised which will in
a large degree place the power of expan-
sion and contraction in the hands of the
people themselves. The opportunity for
securing such currency may be found
In our bonded debt, which should. in nv
Judgment, be in part EXCHANGED for
lnter-convertible bonds, bearing a low
rate OF interest, and always interchang-
able for money at the will of the holder.
The quality of circulation is even more
important than the quantity. Believing
that there is not enough of either cold
or silver in the world to meet the neces-
stiles of business, I am
Et An Earnest Bi-Metalist.
and concede to no one stronger desire
than feel for the free and unlimited
coinage OF silver, as soon as conditions
can be reached through international
agreements, or otherwise, by which such
100 EanVI h. G. n