Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1892-10-06

lowers in South Carlia1 we're of more
comprehensive cLardct, than those con-
templated IN the Democratic resolution of
| 1872.
The Democrats are in the habit of nam
| ing Jefferson as the founder OF their party,
and yet on the subject OF tarlff, they are
m radical opposition 10 the principles laid
down by Jefferson. Towards the close of
his administration the revenue from the
tarli on imports produced a considerable
| surplus. and the question WAS what should
/ be done. Should the tariff be reduced or
| should this surplus be maintalned2 JEFF
| teTsOn pOlntediy asked. "Shail we sup
press the imports and give that advantage
10 foreign over domestic manufactures ,"
| For himself he recommended that
the imports be maintained and that the
surplus created should be appropriated
TO the Improvement of roads. canals, riv-
erS and education"
If the constitution did not give sufficient
| power 10 warrant these appropriations
jefferson went 50 tar as to recommend
| that IL he amended. This presents the
| strongest condition of affairs upon which
| a protective tarIH can be justified. and JET
| ferSOn did not hesitate 10 recommend IT.
| The Democrats OF the present day, it IS
needless 10 say, are ID direct opposition TO
| the policy which Jefferson thus outlined
| and adhered 10.
| EXPLAINS THE RECIPROCITY SCHEME.
| When the principle of reciprocal trade
was first proposed to be introduced into
| the tauil system. the Democrats showed
/ most generous appreciation of the que s.
| ton, and gave il their support as long a 5
| Republicans refused 10 accept II, but when
/ Republicans came 10 approve of II the
| Democratic support vanished, and instead
| OF iaNOrlng, we ana the Democratic na-
| uOnal convention pass a resolution hos
| tile to the system. But in spite of Demo
cratic opposition we have attained. through
4 reciprocity, Il new anu valuable trade, ana
/ the system has demonstrated lis many adj
/ vantageS. We Wele ABOUT TO declare
/ sugar, molaSSeS, coffee ami hides free from
/ ali duties IN the Mckinley bill, but instead
/ OF that we passed law 10y which we
asked the several nations interested what
/ they would give 20 lave those articles
made free We found that the privileges
which we were about 10 give, without cost
ana without charge, would secure a large
/ trade IN Brazil, in cuba, and Porto Rico,
| I'D the Wudward and the Lceward Is
4 lands, IN British Quay ana and Jamaica, an
| Domingo. and the i've Central American
states, and TO a MINOR degree in Austria,
| France, aud Germany all in exchange FOR
! the articles which we had intended TO
gratutlOuSly admit
The free list Of the Mckinley tariff is
/ larger IN the number OF articles, and in the
aggregate amount OF their import value.
/ than the duuahle list. What would nave
! been tine result TO the United States IL
every article, before II was put on the tree
| list, mad been made the subject Of lnqulr V
| TO see what we could get IN exchange tor
/ IT. We omitted 10 do So FOR many years
and that neglect has cost the government
! advantages IN trade which would hay q
amounted to tens of millions Of dollars
| This is the whOle of the reciprocity
scheme. It IS very PLAN and very simple.
II secures valuable trade in exchange for
articles otherwise destined to be put on
the free list. The Democratic party think
they can dlScredlt II, and they make the
effort apparently for the unpatriotic rea-
son that they did not originate it,
WHAT STATE BANKS MEAN.
With all its calamities the war brought
us one great blessing currency
| There are many who viii say that il was
worth the cost of the war TO bring about
so ausplcious result to capital and labor.
| Prior 10 the war we bad the worst cur
| rency system OF any enlightened nation
IN the world. The state banks, with some
exceptions, were thoroughly irresponsible.
| They existed by thousands throughout the
| United States. Whenever one of them
failed the result was large loss and great
distress among the people. No one was
responsible for their bills, anu they were
generally found scattered in the pockets OF
the labOrlng man, To whom they were 4
|
ever. Of The state banks 1t was often and
truly SAID that their debts were the meas
ure of their profits. They have caused an
aggregate loss OF hundreds of millions of
dollars among the poor. Since the close
of the war all this IS different Every pa
per dollar that Clrcula,es among the people
has. the United states behind 1t as guaran-
tee. All the banks that exist are under
the control OF The national government {,
and If they fan as financial institutions
the government has taken care that their
bills shall be paid by securities deposited
in government vaults.
Under these circumstances 1t is matter
for extraordinary surprise that the Demo-
cratic conventions should deliberately pass
resolutions for the revival of state BANKS.
| The palpaDe effect of this policy. il car
ried out, would be TO cheat the poor man
out of his daily bread. II state banks be
| adopted and their circulation attain a
large issue, no device could be more deadly
for the deception and despOllment of all the
commercial and lab0rlUg classes How
the Democratic convention came TO make
such declaration, who was its author,
what intelligent purpose was in it, will re-
main a mystery. | have heard the argu-
ment adduced that we would keep our
| money at home If state banks were lnstI-
tuted but we should keep it at home be-
| cause 1t would be So worthless that nobody
| would take 1t abroad. Were the system of
state banks revived. we would again have
discounts at the state lines, large charges
for drafts on tinanclal centers, and general
/ suspicion of every bill offered in payment,
with liquidation every few years That
would be destructive loss 10 the innocent
holders OF bills, aud corresponding prOnt
TO the parties owning the bu.A5s.
! he three issues which have given are
the issues on which would arraIgn the
| Democratic party | would not multiply
issues nor be diyerted by our opponents
| from a steadiast adherence 10 and con-
slant presentation Of These questions be-
tore tire people. until every voter IS made
| TO know and understand their true and
| welghty significance
Very sincerely yours,
| JAMES q. BLAINE.