Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1892-10-27


peInented by Pacific railway legisla-
ton. attracted settlers, stimulated i'm
m5ration and transferred the center Of
Industrial power from the east to the
west. Even in war time the founda.
tons were laid for that marvellous ma
terlh prosperity, of which the first
fruits were 10 be the resumption Of
specie payments and the cancellation,
dnrng single generation, Of two-thirds
ottie national debt.
~ like manner the tariff has minis
tered TO tho highest interests Of the ma
ton At the opening Of tho war the
bemocratic party, under tho direction
q ioutbern slave owners, was com
m''ed to the policy Of revenue tariff
ending in the direction Of absolute free
trade. The cotton, sugar, tobacco and
rae planters of the south, having what
they considered the cheapest of all labor
"a heir slaves, were the natural allies
81 Tree trade England. One Of the eco
u9mic curses of slavery wherever it has
e1s-ed has been its inevitable effect in de-
v=looing two or three great agricultural
iftorests and in preventing the diversi-
afation of industries. Southern plant
Ing interests and economic policy blocked
NATIONAL development Of industries. This
policy Of a low tariff, which had always
ttar southern rather than northern, was
aaludoned when the Republican party
was confronted with the necessity Of OBJ
talung an income adequate for meeting
,ao eost of great war.
Vow, while honest men may differ over
fa'als Of the tariff controversy which
s 0een conducted in this country over
'a5 ears, they must at least agree that
ReWtblican legislation provided "a most
i ent instrument for the collection Of
'He arge revenues needed for war ex-
pens IS and the rapid payment Of tho ma
uuusl debt. They must also recognize,
without dissent, the extraordinary ex-
guslon Of domestic manufacturing aud
,8e svelopmeut Of foreign aud internal
.ra41 which have accompanied protect
ge egislation. They must also con
code that the benefits of high tariff
have been generally distributed in the
Course of time SO as to be equalzed
amaug all classes through the cheaper
ins 4 prices for consumers. They must
Uncover, be prepared to admit that the
rrotgctive system has promoted that
vaaderful diversifcation Of Industries
winch now affords resources Of remuner-
ltge employment for the largest and
}avst prosperous body of working people
en- ne earth.
It characteristic Of the malign gen
bus 6t the Democratic party that after
an miracles Of American industrial
n.usress have been accomplished it
,laa a turn back the hands Of time and
Us It's stand today with the nullidca-
saders of 1889 in proclaiming tho
lstitutionality Of the protective tar
Even Jackson's authority has not
cd to convince 1t that Calhoun was
?. and the decisions Of the United
~.4s.s supreme court have been az no
to reconcile it to the prosperity Of
tmerican people under the protect
stem.
financial legislation Of the Repub-
party constitutes a series of land
of American progress. The great
Ires Of the war period were those
pr ling for the issue and ultimate re-
ton of the legal tender greenbaeks
4t.8 IF the establishment Of the national
5ass system. These were followed after
IL ar by the refunding and resump-
cts, The success Of the refundinE
az vas largely dependent upon the re
svr.n- ion of specie payments. That was
.erne act of good faith which es-
he'd public credit on SO high plano
refuudiug operations We're conduct
s Ia extraordinary facility.
,a consequence of thirty years expert
With Republican financial legisla-
le American people have the proud
q elton Of being the only grent ma.
lat paws its debts. They have also
ency which was brought by labori-
o rocesses to par with gold. They
hose also a national bank system which
,adily grown in popular favor and
"a which not dollar has ever been
n note holder, and only he small
a. ction to depositors
these great policies ha,e been ec-
ished without the aid Of the Demo
marty. Tho funding act Of 1870.
@ ,ch the rates of interest on the
ere changed by the conversion Of
,sses Of national securities. was
has without single Democratic vote
lr er house. The resumption aet Of
az opposed by every Democrat IN
,ousos. The national banking act
WA enounoed as unconstitutional by
tl srnocratio party during the war,
and hostility to the system has not
c5as 70 this day, when the repeal q
Tie II ( on state bank issues Is telber-
atoly proposed in its rational platform.
That party thirty years ago defended
these state issues. although they were
not secured, had no uniform value
throughout the country. were easily
counterfeited and displaced greoubaeks.
1t advocates a return to thesane system
now, and apparently from q delibogatS
preference for an inferior currency.
The Republican party stands for the