Wisconsin Afro-American., 1892-11-05
PRESIDENTS LETTER.
BENJAMIN HARRISON ON THE ISSUES
OF THE DAY.
Advantages of Reciprocity and Pro-
lection Shown - Forcible Discus
sion Of the Tariff-A Firm
Stand Against Free
Coinage.


avail myself Of the first period of relief
from public duties 10 respond to the Motif
cation which you brought to me on June 20
on the nomination of President of the
United States by the Republican National
convention held at Minneapolis. ] accept
the nomination and am grateful for the
approval expressed by the convention Of
the acts Of the administration. / have en-
deavored without waverlng, so far as tie
direction OF public affairs was committed
70 me, 10 carry out the pledges made to the
people in 1858. Ii the policies Of the adj
ministration have not been distinctively
and progressively American and Republi-
can policies, the fault has not been in the
purpose but in the execution. | shall
speak frankly Of the legislation of congress
and the work of the executive depart
ments, for the credit Of any successes that
have been attained is in such measure due
to others, senators and representatives and
to the efficient heads of the several execu-
tive depaT Ttments, that | may do so without
improperly. A vote of want of conf
dence is asked by our adversaries and this
done we promptly and gladly accept.
The great work Of the Fifty-trSt CON
gress has been subjected to the revision of
Democratic house of representatives and
the acts OF the executive department to its
scrutiny and investigation. A Democratic
national administration was succeeded by
Republican administration and the fresh
for fair comparison and judgment. There
has seldom been a time, | think, when a
change from the declared policies of the
Republican to the declared policies Of the
Democratic party involved such serious re-
suits to the business interests of the coun-
try. A brlet review of what has been
done and Of what the Democr actc party
proposes to undo will justify this opinion
NATIONAL CURRENCY.
The Republican party, during the civil
war, devised a national currency consist
ing of United States notes, issued and re-
deemable by the government, and Of
national bank notes based upon the Sc
curity Of United States bonds. "A tax was
levied upon the issues of state banks and
the intended result that all such issues
should be Withdrawn was realized. There
are men among us now who never saw a
state bank note. The notes furnished dI-
rectly or indirectly by the United States
have been the only and the safe and accepta-
bic paper currency of the people Bank
failures have brought no fright, delay or
loss to the billhOlders. The note of an in
solvent bank SIS good aFd ], % ;,;y
! treasury note, for the credit of the
United States is behind it Our money is
all national money, might almost say in
1eTnational, for these bills are not only
equally and indiscriminately accepted at
par IN all states but in some foreign coun-
tries.
The Democratic party, if entrusted with
the control Of the government, Is now
pledged to repeal the tax on state bank is
sues, with a view to putting into circula-
ton again, under such legislation as the !
state may adopt, a food of local bank is
sues. Only those who in the years before
the war experienced the inconvenience |
and losses attendant upon the use of such |
money can appreciate what return to |
that system involves. The denomination |
of bill was then often no indication of its |
value. The Bank DetectOr of yesterday |
was not safe guide to-day as to credit or |
values. Merchants deposited several times !.
during the day-lest the hour of bank |
closing should show depreciation of the |
money taken in the morning. The trav- |
eler could not use in a journey to the East |
the issues OF the most solvent banks OF the |
West; and III consequence money chang |
erS Office was the familiar neighbOr of the \
ticket office and the lunch counter. The |
farmer and the laborer found the money
received for the products of their labor de- |
pTeciated when they came to make their
purchases, and the whole business of the |
country was hlndered and burdened. |
Changes may become necessary, but a Ma |
tlOnal system OF currency-Safe and ac-
ceptable throughout the whole country is
the good fruit OF bitter experiences, and |
am sure our people will not consent to the
TeactiOnary proposal made by the Demo
cratic party.
OCEAN COMMERCE.
Few subjects have elected more discus
sion or excited more general interest than
that Of a recovery by the United States Of
its appropriate share of the ocean carry
ing trade This subject touches not only
our pockets but our national pride. Prac-
tically all charges for transporting to
Europe the enormous annual supplies of
PROVISIONS 1ulnlSneu DIV TINS country and
Tor the large return of manufactured pro-
ducts have for many years been paid to
foreign ShipOwners Thousands of inn
migrants annually, seeking homes under
our flag, have been denied the sight of 1t
until they entered Sandy Hook, while in
creasing thousand of American citizens,
bent upon European travel, have each year
stepped into a foreign jurisdiction at the
New YORK docks. The merchandise bal
ance of trade which the treasury books
show, is largely reduced by the annual
n tribute which we pay for freight and pas
sage moneys. The great ships the fast
est upon the sea-whlch are now in peace
protting by our trade, are in secondary
sense war ships of their respective govern
mentS and In time of war would, under eX-
isting contracts with those governments,
speedily take on the guns for which their
decks are already prepared and enter with
terrible efficiency upon the work of de-
Stroying our commerce. The undlSputed
fact is that the great steamship lines of
Europe were built up and are now IN part
sustained by direct or indirect government
aid. the latter taking the form OF liberal
nav for carrying the mails or of an annual
honus given IN consideration of agreements
to construct ships so as to adapt Them for
carving an armament and to turn them
over to the government on demand upon
specified terms.
1t was plain TO every intelligent Amer
lean that Ii the United States would have
such lines, similar policy must be entered
mon. The Fifty-firSt congress enacted
slch a law. and under its benefcent i'm
Anpnce sixteen American steamships OF an