The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1892-12-14


been depressed, the general average Of
prices was such as to give agiculture a
fair proportion Of the general prosperity.
The President says:
IF any are discontented with their
state here; if any believe that wages or
prices, the returns for honest toll, are in
adequate, they should not fail TO remem-
Der that there is no country in the world
where the conditions that seem to them
hard would not be accepted as highly
prosperous. The English agrieulturist
would be glad to exchange the returns of
his labor for those of the American farm
er, and the Manchester wOrkmen their
wages for those Of their fellows at Fall
River"
President Harrison believes protection
is q mighty instrument for the develop
ment Of our national wealth and a most
powerful agency in protecting the homes
Of our workingmen from the invasion of
want. He speaks with burning words
and declares that the result Of the cleo
ton must be accepted as an indication of
a new policy, and We must assume that
the present protective tariff must be sup
planted by one constructed solely with
reference to revenue: That no duty is
TO be higher because the increase will
keep open an American mill or keep up
tbs wages of an American workman, but
thati in every case such a rate of duty is
to be imposed as will bring to the Treas
ury of the United States the largest re-
turns of revenue"
The message adds that it would be
offensive to suggest that the prevailing
party viii not carry into legislation the
principle advocated by i. and the pledges
given to the people. President Harrison
recommends that the whole subject OF
tariff revision be left TO the incoming
Congress, and ssys: "If a system of
duties can be formed that will set the idle
wheels of European manufacturers in
motion and crowd our warehouses with
foreign-made goods, and at the same time
keep our own mills busy and enable the
American manufacturer to pay his Amer
lean workingmen from 80 to 100 per cent.
more in wages than is paid abroad that
viii reduce the cost Of raiment and food
without reducing wages, the authors and
promoters Of that policy will be entitled
to the highest praise" The present gen.
Grafton must obviously have its expe-
rience for itselE
The frst pages Of the message, deYot-
ed to the consideration Of the tariff ques-
tions, are in the Presidents best style.
The logic is impressive, the facts are un-
denisble and the conclusion in defense
Of protection isirresistible The remand
er Of the document is largely devoted to
q resume Of the work Of the Administra-
ton, and the transactions of the past
fiscal year as reported by the several de-
partments. Foreign relations are treated
with the customary care.
The President says that the full bene-
fit Of the reciprocal arrangements canno.
be realized Immediately, but he expects
that within a short time it will secure
fully one-third Of the total trade Of Cen
trail and South America for us which
amounts to about SGOO,O00,OOO annually.
In 1885 we had only per cent. ofthis
trade.
Figures are given revealing the aston
ishing increase in the value Of our domes.
tic exports under the reciprocity agree
ments with foreign countries. Consider
able space is devoted to our relations
With the Candian Dominion, and the
President alluies caussicslly to the un-
reasonable and unfriendly objections
from Canada continuously interposed in
our negotiations with Great Britain. The
unfair rivalry to which the Canadian
Pacific Railroad subjects competing rail-
roads Of the United States is commented
upon, and the message declares that it is
time to consider whether our interchange
upon lines Of land transportation should
not be put upon different basis by the
construction ofan American canal around
the Falls Of Niagara and the opening of
ship communication between the great
lakes and one OF our own ssaports.
The President then repeats his recon-
mendatiOn Of prompt and adequate sup
port Of the Nicaragua Ship Canal enter
prise. In reference to the international
silver conference, now in session, he SAYS
that very soon commercial conditions
viii compel the reluctant governments to
unite with US in this movement TO secure
the enlargement Of the. volume of coined
money needed for the transaction oftbe
business Of the world.
One of the most interesting parts ofthe
message refers to the condition of nation
al finances The misleading statements
concerning the public revenue are met
with three decisive facts: First, that the
puplicsdebt. has been reduced since Mar.
1, 1889, over S559, 900, ,OCO and the annual
interest charses.over 81, ,6s4, 600. Second.
that the pension payments during this
administration up to November l, 1891,
aggregated sIs2, ,564, 900, a. against sII3.-
1885, .0c0 from March, 1885, to March. lSS9.
Third, that under the existing tariffup
10 the first Of this month. about soS.O0O.
600 Of revenue, principally on sugar,
which would have been received if the
duty had been levied, has gone into the
pockets Of the people. The teculiar
method in which tie Cleveland admin
istration loaned the surplus public money
to favored bankers is recalled by the
comment in the Presidents message:
IF there are any who still think that the
surplus should have been kept out Of circu-
lation by boarding il in the Treasury. or de-
posting it in favored banks without inter-
esi, while the government continued TO nav
to these very banks interest upon the bonds
deposited as security for the deposits. or
~ho think that the extended pension legis-
Iaiion was apublic robbery, or that the du-
lies upon sugar shonld have been maintain
ID, am content 10 leave the argument
where it now re-ts, while we wait to see
these criticisms viii take the form
of legislation. -
1t IS encouraging to note that there
will be an estimated cash balance in the |