Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1892-08-31


through the intervening year. He ma
ewes only for the south, the section 81 b's
nativity IL vas of no interest 10 him
that the magnificent water powers OF New
England should be put to work that
hundred. Of Thousands of oar citizens
should End employment in great diversity
Of manufacturing industries 20 supply the
needs If home consumers. Mr.. walker
sas unable TO sec the ipterdepe n'ience oil
agriculture and manufacturing industry and
va. unable to comprehend the fact that they
would be- mutually sustaining and heipfui'
and together make US prosperous POI"
rrful and an independent, people Inc
vrest benefits accruing TO a nation. through
A wise division Of labor had never oeeh
given any consideration IN his economic
theory, and hal no place IN 1t. lie hfst
,lecid,d what was best for the south, AMI
having determined this assumed IN the
arbitrary fnanner characteristic al >outh'f"
statesmen that the same must neccsrarlaliy
he best for the whole nation Following
Mr. Walkers lead the Democratic party re-
peaDed the protective tarif of iS'- an"
.uhstitu,elI for il the free trade tarih OF
I.tG For frw wears series of remark
able events INTERVIEWED To defer TIE ndtlonai
evil. that were the inevitable result at TINS
legislation. These we're a - The Mexican
War q The Famine in ireland, ) The
Discovery Of Gold in California, ! Euro
peau Revolutions o The trimean war.
These events by prostratlng the a2ricultu-
raj and manufacturing Industries OF other
lands and creating new sources III great
wealth. caused an unusual and unnatural
demand for American products and thus
bols,errd up "a temporary prosperity bul
IN l-,,i this heeting prosperity passed an
ruptly awav with the close of the events re-
.ponsible for it, nder the low tariff
then in vogue the american people could
not successfully compete with foreign man
ufacturers. and our factories were closed.
4 general pfostratiun of business ensued.
our exports fell Of heavily, and the people
everywhere felt the pressure OF hard
times" Upon none did this fall more
heavily than upon the farmers. The decline
of onr manufacturing industries operated to
their disadvantages in two ways. 1t not
only contracted the home market. but it
threw A large number of people into agri-
cultural pursuits thus increasing pro
,luctiou at "a most inopportunr time. II
is useless to dwell upon the evils of those
days Oider citizens will recall them
clearly and will rejoice that under the
hcncticent operation of our wise protective
vstem we no longer experience their hard
ships Notwithstanding these facts the
Democratic party, always slow to grasp the
lesson Of events. declared in It's national
platform ct >i6 in favor of Progressive
free trnlr throughout the world. The
following wear 10. it reduced
the ttriff to the lowest rates that had been
known since the adoption Of the constitu-
ton The result was to still further pros
trate tho business of the country. From
l,t1 To 81 the expenditure, of The gov
rrnmrrt exceeded It, revenues hy S2i.
lta nu3 and the public debt increased in
thu same periol Sl3. -, so. From this
time to ISL. when protective tariff
.ea- enacted hy the Republicans, the public
debt increased nearlv SiG,poo, 300, AMI the
rxpemiiturr- exceeded the receipts by So
23t1l6->o much for tariff for revenue
only"
In ls6l the Republican party came into
power in the nation and enacted a wise system
of tariff rates II put down gigantic
rebellion iuaugurated and carried on by
southern free traders. and has since main
tanned a. one Of It's cardinal doctrines pro
lection to home industries. Under the
operation of this system our national
growth anil prosperity has been the marvel
If the world. 1t is a growth unparali-
eled and unapproached in the history
of the nations. In view of these facts the
people of this country will not be- heguiled
hv any amount of Democratic sophistry
into a return 10 those free trade or
revenue" tariffs that have never yet failed
IN bring disaster upon the country.