Los Angeles herald., 1891-12-05
M'KINLEY AND ANCIENT HISTORY.

M'KINLEY AND ANCIENT HISTORY.
We are not aware that there are any
free traders in this country-except
possibly few in theory, and these are
as likely to be found to be Republicans
as Democrats. In fact the very theory
of the government, as expressed in the
organic law, is based upon the principle
and necessity of customs duties. So
that the tariff has become, and always
must continue to be, the most practical |
form of legislation on the subject. 1t is
merely legislation from time to time in
troduced to meet the supposed require
ments of business. In other words, all
intelligent men know, and all fair-mind
ed men admit, that it is mainly ques-
tion of schedules, the tendency of one
party being to make them high, and of
the other to keep them down to the
practical averages and needs of the
times. Thus the "Mills bill" reduced
the general tariff to nearly the figure of
'she ante-war period, while the "McKin-
ley bill'' has raised the average greatly.
1t is very clear that this is all ques-
ton of business, when rightly consid
cred, and not one of emotion or
morality or intellectual superiority.
Especially does it appear that no man
has any peculiar knowledge, or authori-
6y, or rights that would entite him to
prescribe other peoples beliefs or as
Sume towards them an attitude of
superiority in any way. And yet the
managers of the Republican party,
having staked everything on the issue
of the highest tariff schedules ever
known to the country, are wearing
towards the other party and the doubt
ers in their own ranks an air of oracular
wisdom that often amounts to the
grossest insolence. Mr.. Mckinley in
his recent speech in Boston made such
a sweeping summing up of the beautiful
workings of high tariffs that the address
Was at once adopted as the key note of
the next Republican national platform.
But Mr.. Mckinley, who has become the
tigurehead of the party,by reason of his
place on the ways and means committee
and the framer of the last tariff meas
ure, overdid the business on that occa-
sion and has been brought to book in
the most unexpected fashion.
The Wool and Cotton n Reporter,
the organ cf the textile fabric industries
of New England, last week. informed the |
governor-elect of Ohio that he made a
mistake in coming to Massachusetts
with "a partisan presentation of ancient
history" 5Lt declared that sthe period
from h848 to 7 S61 was not "a ..deplorable
one for manufacturing interests" but,
on the contrary most of the largest
manufacturing concerns ia New Eng
land were started between sIS49 and
1857, and that come years they declared
the highest dividends ever paid in the
business. Amongst the new concerns
of that period were the Atlantic Mills,
built in E&40; the Leyman Mills, in 1864;
the Naunakeag Cotton Mills, ia lS47; the
Pepperill Millsin 1852, the Bates Mills
in 1858, the Hill Manufacturing in 1856
and the Fr&nklin.oompany in 1857. In
1916 the Amoskeag Mills declared a
dividend of Is perCent in stock and 10
per cent cash. and for the four years
no yearly dividend was less
5han 20 per scent. The Re- +
porter not content with prod&eing +
'hese figures, has the audacity to re-
mind Mr.. Mckinley and the Home
Market club that the cotton manufac-
uripg business has not only not re-
lived but langufshed since the high
arif agitation and the passags of the
lew law. 1t says the Merrimac COM
'any, one of the largest cotton estab-
in the country, has reduced
is semi-annual dividend OF per cent 9
gainst per cent paid il 1899, while !
he value OF its shares has shrunk 4
rom $1,000 10 $1,000. And what is The \
Wool and Cotton Reporters 1t is the
xponent Of old-fashioned tariG policy, q
o which the country was accustomed s.
nd over which the people never had u
he bitter and eorrupting strife such as
now debauchiag our politics. Verify
uch criticism OF McKinleyism is re. Il
'eshing. 1t is the old appeal to Philip III
ober. ii