The times. (Owosso, Mich.) 1882-1897, 1892-10-07

maintained? JEFFERSON pOintedly asked:
Shall we suppress the imposts and
nestle manufacturers For himself he
recommended that the imports be
maintained and that the surplus ore
ated should be appropriated to the i'm
provement of roads, canals, rivers and
education II the constitution did not
give sufficient power to warrant these
appropriations jefferson went so far as
to recommend that it be amended This
presents the strongest condition of
affairs upon which a protective tariff
can be justified and Jefferson did not
hesitate to recommend 1t. The demo
Gratis of the present day, 1t Is needless
TO say, are the direct opponents OF the
policy which jefferson thus outlined
and adhered to.
when the principle of reciprocal
trade was first proposed to be intro
duced into the tariff system, the demo
Gratis showed most generous appreci-
alton of the question and gave 1t their
support so long as the republicans re-
fused to accept it, but when the repub-
licans came to approve it the democrat
support vanished, and instead of favor
Ing we find the democratic national
convention passing resolution hostile
TO the system.
A Striking Contrast.
"But in spite of the democrat opposi-
ton we have attained through reciproc-
ity new and valuable trade and the
system has demonstrated it's many ad-
vantages. We were about to declare
sugar, molasses, coffee and hides free
of all duties in the Mckinley bill. but
instead of that we passed law by
which we asked the several nations in
terested what they would give to have
these articles made free. We found
that the privileges which we were
about to give without cost and with
out charge would secure a large trade
in Brazil, in Cuba and Porto Rico, in
the Windward and Leeward islands, in
British Guiana and jamaica, San
Domingo and the five central American
states, and to a minor degree in Aus
tria, France and Germany-all in ex-
change for the articles which we had
intended to gratuitously admit. The
in the number Of articles and in the ag-
gregate amount of their import value
than the dutiable list. What would
have been the result to the states il
every article before it was put on the
free list had been made the subject OF
inquiry to see what we could get
in exchange for it? We omitted to
do SO for many years. And
that neglect has cost the government
advantages in trade which would have
amounted to tens of millions of dol
lars. This is the whole of the reel.
procity scheme. 1t secures valuable
trade in exchange for articles other.
wise destined to be put on the free list
The democratic party think they car
discredit and they make the effort, ap
parently for the unpatriotic reason
that they did not originate it.
"With all it's calamities the wal
brought us one great blesssing-a ma
tional currency. There are many who
will say that it was worth the cost Of
the war to bring about so suspicious 6
result to capital and labor. Before the
war we had the worst currency system
of any enlightened nation in the world
The state banks were thoroughly ire.
sponsible. They existed by thousands
throughout the United States, wherever
one of them failed the result was q
large loss and great distress among the
people.
Wildcat Currency.
'No one was responsible for their
and truly said that their debts were
the measure of their profits Since the
close of the war all this is different
Every paper dollar that circulates
among the people has the United States
behind it as guarantee. All the
banks that exist are under the con.
troll of the national government, and II
they fail the government has taken
care that their bills shall be paid by
securities deposited in government
vaults. Under these circumstances
1t is matter for extraordi-
nary surprise that the demo
crat convention should deliberately
pass resolutions for the revival of state
banks. The palpable effect of this pol
icy, If carried out would be to cheat
the poor man out of his daily bread.
If state banks be adopted and their cir
culation attain large issue, no device
coui1 be more deadly for the deception
and aespoilment of all the commercial
and 1Aboring Glasses. have heard the
argument adduced that we would keep
the money at home If state banks were
instituted; but we should keep it at
home because it would be so worthless
that nobody would take it abroad.
Were the system of state banks revived
we would again have discounts at the
state lines, large charges for drafts on
financial centers, and general suspicion
of every bill offered In payment with
liquidation every few years that
would be destructive loss to the in
nocent holders of bills and a corre-
spending profit to the parties owning
the banks. The issues which have
given are the issues upon which
would arraign the democratic party.
would not multiply issues nor be di.
verified by our opponents from stead
fast adherence to, and constant presen-
tation of, these questions before the
people until every voter is made to
know and understand their true and
weighty significance. Very sincerely
yours, JAMES G.. BLAINE"