Wisconsin Afro-American., 1892-11-05
WISCONSIN AFRo-AMERIcAN, NEUTRALITY-SUSPICIOUS.

lowers in South Carolina were of more
comprehensive character than those con-
templated in the Democratic resolution of
1892
The Democrats are in the habit of NAM
ing jefferson as the founder of their party.
and yet, on the subject of tariff, they are
in radical opposition TO the principles laid
down by Jefferson. Towards the close of
his administration the revenue from the
tariff on imports produced a considerable
surplus, and the question was what should
be done. Should the tariff be reduced or
should this surplus be maintained? JEFF
ferson pointediy asked; Shall we sup
press the imports and give that advantage
| to 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"
Ii the constitution did not give sufficient
| power to warrant these appropriations
jefferson went so far as to recommend
that 1t be ameRded. This presents the
strongest condition of affairs upon which
protective tariff can be justified, and JEFF
| ferS0n did not hesitate to recommend It,
| The Democrats of the present day. it IS
needless to say, are in direct opposition to
the policy which Jefferson thus outlined
| and adhered TO.
! EXPLAINS THE RECIPROCITY SCHEME.
When the principle of reciprocal trade
was first proposed to be introduced into
the tariff system, the Democrats showed
most generous appreciation of the queS
| ton, and gave 1t their support as long as
| Republicans refused TO accept it, but when
| Republicans came TO approve of 1t the
| Democratic support vanished, and instead
| of favorinG. we find the Democratic ma
| tlOnal convention passing resolution hos
tile to the system. But in spite of, Demo !
/ to- hn ~
| reciprocity, new and valuable trade, anG
| the system has demonstrated its many ad-
vantageS. We were ABOUT to declare
sugar, molaSses, coffee and hides free from
all duties in the Mckinley bill, but instead
of that we passed a law by which we
| asked the several nations interested what
they would give to have those articles
made free. We found that the privileges
which we were about TO give, without cost
and without charge, would secure large
trade In Brazil, in Cuba, and Porto Rico,
in the Wlndward and the Leeward Is
lands, IN British Guayana and Jamaica, san
Domingo, and the five Central American
states, and TO minor degree in Austria,
I France and Germany-all in exchange for
the articles which we had Intended to
gratutiouSly 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 dutiable list. What would nave
been the result TO the United States If
| every article, before it was put on the free
list, had been made the subject or inquiry
to see what we could get III exchange for
it? We omitted to do so for many years.
and that neglect has cost the government
advantages III trade which would have
amounted to tens of millions of dollars
| This is the whole of the reciprocity
scheme. 1t is very plain and very simple.
1t secures valuable trade in exchange for
NI1 Il 70 In, NNnf
the free list The Democratic party think
they can discredlt 1t. 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 fought
us one great bleSSlng-natlOnaI currency.
There are many who Will say that 1t was
worth the cost of the war to bring about
so auSpiciouS res ult TO capital and labor.
Prior to the war we had 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
II failed the result was large loss and great
distress among the people No one was
responsible for their bills, and they were
generally found scattered in the pockets OF
the fa5ofif fSliijss; wa5 ~ szeEs .
total loss without any redemption what
ever. Or 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 circula,eS among the people
has the United States behind it as guaran-
tee. All the banks that exist are under
the control of the national government t,
and if they fail as financial institutions
| bo m fak a
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 palpable effect of this policy, if car
ried out. would be to cheat the poor man
out of his daily bread. If 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 labOrlng classes. How
the Democratic convention came to make
such a declaration, who was its author,
| what intelligent purpose was in 1t, VIII re-
main mystery. | have heard the argu-
ment adduced that we would keep our
money at home if state banks were insti-
tuted. but we should keep it at home be-
cause 1t 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 a liquidation every few years that
would be destructive loss to the innocent
holders of bills, and corresponding proht
to the parties owning the banks.
The three issues which have given are
the issues on which | would arralgn the
Democratic party. | would not multiply
issues nor be diverted by our opponents
from a steadtast adherence to and con-
stant presentation of these questions be-
fore the people. until every voter is made
| to know and understand their true and
weighty significance.
Very sincerely yours,
JAMES G. BLAINE.