The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1892-09-07

suits of the policy of reciprocity. 1t is
now in practical operation, he says,
with five of the nations of Central and
South America, San Domingo, the
Spanish and British West India Islands,
and with Germany and Austria, under
special trade arrangements with each.
Referring to the new doctrine of the
democratic party as to protection-that
it is nconstitutional-he pointedly re-
marks that bounty might be given to
the importers, under this view of the
constitution, in order to increase i'm
portations. Figures regarding the
growth of the tin-plate industry are
quoted from the report of Special Agent
Aver. Mr.. Aver, he says, believes the
production of tin plate will be 100000
600 pounds in the current fiscal year,
against 100000 in the last year.
Discussing the tariff in relation to
wages, the president uses the following
pregnant sentence: ~ regret that all
employers of labor are not just and
considerate and that capital sometimes
takes too large a share of the profits.
But 1 do not see that these evils would
be ameliorated by tariff policy, the
first necessary effect of which is a
severe wage cut and the second large
diminution of the aggregate amount of
work to be done in this country"
The president commits himself to the
policy of freely coming silver at fixed
ratio with gold, but he is quite sure
that if the United States alone were to
act on that principle, other nations
would be benefited, while this country
would be injured. The true interest
of all the people of the United States
lies in every dollar of this government
being equal in value 10 every other.
The president looks for many good re-
suits from the monetary conference
which is soon to be held. Reference is
made to the passage in his last annual
message in which he states his belief
that it is possible to secure calm con-
sideration of such changes in the method
of elections as shall secure to the peo-
pie fair appointments and free cleo
tons. In this connection the recent
election in Alabama is discussed. The
concluding paragraph of the letter is as
follows:
1.-The democratic party offers a pro-
gramme of demolition. The protective
policy, to which all business, even that
of the importer, is now adjusted, the
reciprocity policy, the new merchant
marine, all are to be demolished-not
gradually, not taken down, but blown
up. To this programme of destruction
it has added one constructive feature
the establishment of state banks of
issue. The policy of the republican
party is, on the other hand, distinctively
policy of safe progression and the de-
velopment of new factories, new markets
and new ships. 1t will subject business
to no perilous changes, but offers at
tractive opportunities for expansion
upon familiar lines"
This letter will strengthen the repub-
lican cause very materially. In it the
president reveals his sterling character
and special fitness for the Office which he
has honored for the past three years
and a half. In it, too, he indicates for
what the republican party stands to-
day. Intelligent and patriotic men
cannot look calmly at the man and the
party without feeling that there is more
of Americanism and progress in them
than there is in the democratic nomi-
nee and his party.