The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1892-12-17
Hearty Endorsement of the Nicara-
qua Canal Project.
Workmen Should Have More Than
Life's Necessaries,
We Must No Longer Rely on Canadian Ca
mails, But Should Construct Canals OF
Our Own-Pcaceiul Adjustment of
Differences With Foreign Pow
ers-The Finances of the
Government, Etc.

congress 1t contained over 1900 words. Fol-
| lowing is an extended synopsis OF the entire
document:
The president refers TO the favorable condi.
| tions affecting the commercial and industrial
interests Of the United States, and gives statis-
| tics of wealth and progress, showing the dinu-
| sion as well as the growth Of prosperity. Never
in the history of the country has production in
| creased so rapidly as during the past two years,
commerce expanded SO largely or the well-be-
| ing of the masses improved in such marked
| degree, as the present demonstrates.
| The total value of our foreign trade exports
and Irrtn tnuftfvcures) during the last fiscal year
was 81 s57 $50 G4 an increase:of Sl2S 6O4 over
the previous fiscal year. The average annual
| value of our imports and exports OF merchan-
| disc for the ten fiscal years prior TO 1891 was
II 457, ,32a, ,Ol9 1t will be observed that our for
| eign trade for 1892 exceeded this annual aver
age value by S40O S5S, SOL an increase OF AZ per
| cent. The significance and value Of this in
crease are known by the fact that the excess in
| the trade of 1892 over 1891, was wholly in the
value of exports for there was decrease in
the value OF imports of Sl7,5l3,154.
The value of our exports during the fiscal
year 1892 reached the highest figure in the his
| tory OF the government, amounting to Sl,OSO,-
eTs l4S, exceeding by Sl45 797 33S the exports Of
| 1891, and exceeding the value of the imports OF
| Foo, SO 6S6. A comparison Of the value OF our
exports for 1892 with the annual average for the
ten years prior to 1891 shows an excess Of
1865, ,2i6 65l, or of 81 65 per cent The value Of
our imports OF merchandise for 1892, (which was
| 1929, ,402 463, also exceeded the annual average
value of the ten years prior to 1891 by 2l5,OiO
During the fiscal year 1892 the value OF imports
tree OF duty amounted TO 57, 300 6oS, the largest
aggregate in the history Of our commerce. The
value of the imports OF merchandise entered
free of duty in 1892 was 5535 per cent of the
total value of imports, as compared with 49, %
per cent in 1891. and 33.66 per cent in 1890.
Internal and coastwise traffic has shown q
corresponding expansion.
Another indication of the general prosperity
Of the country is found in the fact tnat the num-
Der of depositors in savings banks increased
rom 693, go in 1860 to .,25a S93 in 1890, an in
crease of 5l3 per cent, and the amount of de-
posits from 5Oi in 1860 to II 52i 844506 in
1890 an increase of 02l per cent In 1891 the
amount of deposits in savings banks was 81, ,623,
T9,749 1t is estimated that 90 per cent. of these
deposits represent the savings Of wage earners.
The bank clearances for nine months ending
September 30 1891, amounted to Sil0i9, 800, ,S0S.
For the same months in 1892 they amounted to
A5 1872 sol ,9i7, an excess for the nine months OF
H4l0,2l1 ,3lq. "There never has been q time in
our history when work wls so abundant or
when wages were as high whether measured by
the currency in which they are paid or by their
power to supply the necessaries and comforts
Of life"
Concerning the republican policy of protec-
tion he says:
81 believe that the protective system, which
mas now fer something more than thirty years
continuously prevailed in our legislation, has
been q mighty instrument for the development
Of our national wealth and a most powerful
agency in protecting the homes of our working
men from the invasion of want l have felt
most solicitous interest TO preserve TO our
working people rates Of wages that would not
only give daily bread but supply comfortable
rsir fnr md fnr lv
comforts and enjoymcnts without which life is
neither hopeful nor sweet They are American
citizcEs-a part OF the great people for whom
our constitution and government were framed
and instituted-and II can not be a perversion
Of that constitution TO so legislate as to pre-
serve in their homes the comfort independence,
loyalty and sense OF interest in the government
which are essential to good citizenship in
peace and which will bring this stalwart
throng as in 1861 to the defense Of the flag
when it is assailed. 1t is not my purpose to re-
new here the argument in favor OF protective
tariff. The reSnlt OF the recent election must be
accepted as having introduced new policy.
We must assume that the present tariff, con-
structed upon the lines Of protection, is to be
repealed and that there is to be substituted for
II tariff law constructed solely with reference
TO revenue; that no duty is to be higher be-
cause the increase will keep open an American
mill or keep up the wages Of an American work
ulhIl, DuI III every CtSt sum rate Ol uuIy lS 10
be imposed os will bring the treasury of the
United States the largest returns of revenue.
The contention has not been between schedules,
but between principles, and 1t would be often
sve to suggest that the prevailing party will
not carry into legislation the principles ad-
vocated by it and the pledges given to
the people. The tariff bills passed by the
house of representatives at the last session
were, as is supposed, even in the opinion of their
promoters, inadequate and justified only by
the fact that the senate and house of repre-
sentatives were not in accord and that gem
eral revision could not, therefore, be under
taken. recommend that the whole subject of
tarin revision be left to the incoming congress.
1t Is matter Of regret that this work must be
delayed for at least three months; for the
threat of great tariff changes introduces so
much uncertainty that an amount not easily
estimated Of business inaction and of dimin-
ished production will necessarily result 1t Is
possible, also, that this uncertainty may result
in decreased revenues from customs duties for
our merchants will make cautious orders for
foreign goods in view of the prospect of tariff
reductions and the uncertainty as to when 1t
will take effect
"Those who have advocated a protective
tariff can well afford to have their disastrous
forecasts of a charge OF policy disappointed
II q system OF customs duties can be framed
that win set the idle wheels and looms OF Eu
rope In motion and crowd our warehouses with
foreign made goods, and ut the same time keep
our own mills busy; that will give us an in
creased participation in the markets OF the
world offs greater value than the home market
that we surrender; that will give in
creased work to foreign workmen upon
products TO be consumed by our people
without diminishing the amount OF work
10 be done hero; that win enable the
American manufacturer to pay TO his worlsmen
from fifty 10 ore hundred per cent more in
wages than Is paid in the foreign MILL and yet
10 compete in our market and in foreign mar
lSets with the fore gn producer; that viii fur
ther reduce the cost of articles OF wear and food
without reducing the wages Of those who pro
duce them that can be celebrated after its ef-
fects have been realized, as its expectation has
been, in European as wen us In American cities,
the authors ana promoters of it will be entitled
to the highest praise. We have had In GIr his
tory several experiences of the contrasted eff
feels OF revenue and protective tarn; but
this generation has not felt them, and ex-
perience Of cne generation is not highly in
structive TO the next. The friends OF the pro-
tective system, with undiminished confidence
in the principles they have advocated, Will
await the result OF the new experiment"
Referring 70 the reports OF the heads OF the
several executive departments submitted with
the message, the president notes the fact that
"publi0 revenues amouating TO N,4l4,W9sO2.2s