Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1891-12-07

country On the one hand it was contended
that imports would so fall off as to leave the
treasury bankrupt, and that the prices of
articles entering into the living of the people
would be so enhanced as to dangerously affect
their comfort and happiness, while on the
other it was argued that the loss to the reve-
! nue. 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 prices; while the treasury surplus
! and receipts would be adequate to meet the
! appropriations including the large exceptional
! expenditures for the refunding to the states Of
! the direct tax and the redemption of the AZ
! per cent. bonds.
Treasury Statistics.
1t is not my purpose to enter at length into a
| discussion of the effects of the legislation to
| which [ have referred; but brief examina-
ton of the statistics of the treasury and gen.
eral glance at the state of business through
out the country will, / think satisfy any i'm
partial inquirer that its results have disap-
pointed the evil prophecies of its opponents
and in a large measure realized the hopeful
predictions of its friends. Rarely, if ever, be-
fore in the history of the country has there
been a time when the proceeds of one days
labor or the product of one farmed acre would
purchase so large an amount of those things
that enter into the living of the masses of the
people. | believe that full test will develop
the fact that the tariff act of the Fifty first
congress is very favorable in its average effect
on the prices of articles entering into common
Our Foreign Commero7.
: Da1Eg the Twelve months from oct. |, 1880,
to Sept 80 1891, the total value of foreign
commerce imports and exports combined)
was 81, IA, 806 406, which the largest of any
year in the history of the United States. The
largest in any previous year was in $780, when
our commerce amounted to 81, 647 139, 093, and
the last year exceeds this enormous aggregate
by over one hundred millions. 1t is interest
ing, and to some will be surprising, to know
that during the year ending Sept 30, 1891, our
imports of merchandise amounted to 1924, u.s.
go which was an increase of more than eleven
million dollars 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. The average annual
value of the imports of merchandise for the
ten years from 1881, was 1892, Sl6,522, and dur
ing the year ending Sept. 30, 1891, this annual
average was exceeded by S132, 52S, 569.
Ere Imports.
The value of free imports during the twelve
months ending Sept. 50, 1891 was Sl18, 092,3S7,
more than the value of free imports during the
corresponding twelve months of the preceding
year, and there was during the same period
decrease of $106, $40 sos in the value of imports
of dutiable merchandise. The percentage of
merchandise admitted free of duty during the
year to which have referred, the first under
cedng twelve months, under the old tariff, the
percentage was 1927 an increase of 1891 per
cent. If we take the six months ending Sept.
80 last, which covers the time during which
sugars have been admitted free of duty, the
per cent of value of merchandise imported free
of duty is found to be 55.37, which is larger
percentage of free imports than during any
prior fiscal year in the history of the govern
ment.
Tariff Not Oppressive.
IF we turn To eXOOrtS merchandise the
statistics full of qualification. The value
of such exports of merchandise for the twelve
months ending Sept. so, 1891 was 1928, 091 1856,
while for the corresponding previous twelve
months it was $3.50, III lis, an increase of S62,-
914,021, which is nearly three times the aver
age annual increase of exports of merchan-
disc for the preceding twenty years; this X
ceeds in amount and value the exports of mer-
chandise during any year in the history of the
government. The increase in the value of X
ports of agricultural products during the year
referred to over the corresponding twelve
months of the prior year was S45,3i6l2 1, while
the increase in the value of exports S16,-
S36, 240. There is certainly nothing in the
dition of trade, foreign or domestic, there is
certainly nothing in the condition of our peo-
pie of any class, to suggest that the existing
tariff and revenue legislation bears oppres-
sively upon the people or retards the CONNER
cial development of the nation.
General Prosperity and Contentment.
1t may be argued that our condition would
be better if our tariff legislation were upon q
free trade basis; but it cannot be denied that
all the conditions of prosperity and of general
contentment are present in larger degree
than ever before in our history, and that, too,
just when it prophesied they would be in
the worst state. Agitation for radical changes
in tariff aud financial legislation cannot help,
but may seriously impede business, TO the
prosperity of which some degree of stability in
legislation is essential. think there are con-
elusive evidences that the new tariff has Gre '
Rted several great industries which Will,
within Il few years, give employment to sew
eral hundred THOUSAND American wOr<ingmen
and women. In view of the somewhat over
crowded condition of the labor market of the
United States, every patriotic citizen should
rejoice at such a result.
Last Years Revenues and Expenses.
The report of the secretary of the treas
ury shows that the total receipts of the
government, from all sources, for the tis-
cal year ending June 30, 1891, were $453,
"a, 1888. 03, while the expenditures for the
same period were 1921 304, 470.46, leaving a
surplus of $37, 239, 762. 81 The receipts of
the fiscal year ending June 80, 1892, actual
and estimated, are $433, 600, and the ex-
penditures S4O9, 10000 For the fiscal year
ending June 80, 1898, the estimated re-
ceipts are 1856, 336, $50, and the expendi-
lures S441 30O, O93.
Silver Bullion.
With regard to the prophecies of the anti
silver men, that the coinage of 50 100000
per month would create disaster, they were
not wide of the mark. The president says
that he is still of the opinion that the free
coinage of silver, under existing condi-
tions would disastrOusly affect our bust
ness interests at home and abroad, and
that we could not hope to maintain an
equality in the purchasing power of the
gold and silver dollar in our markets, and
in foreign trade the stamp gives no added
value to the bullion contained in coins
The producers of the country, its farmers
and laborers, have the highest interest
that every dollar, paper or coin, is
sued by the government, shall be as good
as any other. If there is one less valuable
than another, it's sure and constant errand
will be to pay them for their toll and for
their crops.
Our Silver Exports Exports Reduced.
After comparing our silver standard
with Englands, and referring to the re-
duction of the export of domestic silver
during the past year. the president says:
The producers of silver are entitled to your
consideration, but they should not forget that
the government is now buying and putting out
of the market what Is the equivalent of the
entire product of our silver mines. This is
more than they themselves thought of asking
two years ago. 1 believe it is the earnest de-
sire of a great majority OF the people, as it is
mine, that a full coin use shall be made of sill
yer just as soon the cooperation of other
nations be secured and a ratio fixed that
will give circulation equally to gold and silver.
The business of the world requires the use of
both metals; but 1 do not see any prospect of
gain but much of loss, by giving up the pres
ent system, in which full use is made of gold
and a large use of silver, for one in which sill
alone will circulate. Such an event would
be at once fatal to the further progress of the
silver movement.
Europe Wants Silver.
The true friends of silver will be careful not
to overrun the goal and bring its silver none
tization, with the necessary attendant loss of
our gold to Europe, and the relief of the pres
sure there for larger currency. I have en-
deavOred, by the use of official and unofficial
agencies, to keep a close observation of the
state of public sentiment in Europe upon this
question and have not found it to be such as
to justify me in preparing an international con-
ference. There is, however, [ am sure, q
growing sentiment in Europe in favor of a
larger use of silver, and l know of no more
effectual way of promoting this sentiment
than by accommodating gold here A scarcity
of gold in the European reserves will be the
most persuasive argument for the use of silver.
The president alludes to the retirement
of Secretary Proctor from the cabinet, and
says that his report exhibited the results