The record-union., 1892-10-19

so often as the President shall be satisfied
that the Government ct any country pro-
ducing and exporting sugar, molasSes,
coffee, tea and hides, raw and uncured,
or any OF such articles, imposes duties or
other eXactions upon the agricultural or
other products of the United States, which,
in view of the free introduction of such
sugar, molasses, tea and hides into the
l nited States. he may deem to be recipro-
cally unequal and unreasonable, he shall
have the power and it shall be his duty
to suspend, by proclamation TO that effect,
the provisions of this Act relating to the
free Introduction of such sugar, molasses,
coffee, tea and hides, the production of
such country, for such time as he shall
deem just, and in such cases and during
such suspension duties shall be levied,
collected and paid upon sugar, molasseS,
tea and hides as follows" Then
follows the schedule on such articles.
We were proposing free sugar to Ger
many, for example, and at the same time
Germany was keeping out our pork.
W were admitting coffee from Brazil
and proposed to admit sugar from Cuba
Tree OF duty and getting nothing IN return.
BY reciprocity the President was au-
thorZed TO make treaties securing to US
some reciprocal advantages for these con-
cesslons on our part.
HOW RECIPROCITY HAS WORKED.
The result of this movement has more
than proved its wisdom. 1t is a complete
vindication of the Republican policy Of
reciprocity.
Our treaty with Brazil took effect April
l, 1871, and to June 30, 1892, had been in
effect fifteen months. In that time our
export trade had increased over a like
period just before the treaty 1854 per
cent. over S6,0O0,000 Of the trade was
! breadstutis-nearly all flour.
For tho
1892, our exports to Cuba exceeded ex-
ports Tor like period III 1891 the sum of
| So. 702, ,l97
The total value of exports to the coun-
tries south of us, with which treaties
have been concluded, during the exist
ence OF the treaties up to June 80, 1892,
has exceeded exports for q corresponding
period before by 23.7S per cent.
Any man at all familiar with trade, and
the difficulties III the way of extending it
to new fields, will say this is substantial
| progress.
Our Democratic friends grow hysterical
because we do not open up reciprocal re-
latlons with Canada. Why should we be
anxious TO do this? 1t might neip the
manufacturer, but how about the farmer?
Canada produces much the same neces-
sarIes OF life that we grow, and what
would prevent her sending them across
the line TO compete with our farmers if
we had free trade with Canada? Why
should Democrats want to push our
manufactured goods over the line at the
sacrifice OF our agriculture?
SAVINGS OF THE PEOPLE.
One Of the most convincing tests of the
prosperity of the people is the condition
OF the savings banks. Let me read you
some facts:
TABLE I.
In 1850 629 savings banks
h9d IN resources SSS1, 1850
In 1880 921 banks had......... !, ,742, ,617, ,60l
Cain IN ten years.................. $S60,940,251
Our population increased............ 20 per cent
Our savings increased over.........100 per cent.
TABLE II.
IN 1880 cash deposits were...- SSl9,1O6, ,973
In 1890 cash deposits were. 1855 1923, ,95G
Gain in ten years...-......~~.. 974o, 1888
TABLE III.
m1SS5 there were deposition {, ,O71, 1,495
In 1890 there were depositors. ,25S ,623
cam IN nVe years is {, ,12S
TABLE ".
In 1889 average each depostor. 1854 40
In 1890 average each depositor....... 355 Oh
BRITISH BALANCE OF TRADE.