Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-12-10
TARIFF AND FINANCE
MAJOR COOLEY CAREFULLY DIS
cUSSES THESE GREAT QUESTIONS.
Proposed Modes Of Taxation MUST 10 the
SOUTHERN. Cieveiand's Monetary
Views Criticised.

OF Affairs nationally. Speaking OF the
message OF Mr.. Cleveland, Mr. Dooley
said:
AS you are well aware. have been a
warm supporter OF Mr.. Cleveland IN his
days OF adversely and In the hours OF his
| triumph No one has more stronuously
advocated his policy concerning the sher-
man-law repeal, and | approve in general
| OF his message and OF the policy which
It outlines but in my judgment the vii
son bin. which ne endorses and recon-
mends 10 Congress. is a sectional and IN
| wise measure. which should either b.
| greatly modified or entirely defeated The
avowed intention and scope OF that bill
| is 70 deprive the South OF the scauty
amount of protection which the tariff
| now accords 10 its Industries IN coal and
| iron-ore In order TO stimulate New Eng
land Industries, which are amply protect
ed under the proposed law For nearly
| one hundred years New England has
been laying tribute upon the South
| through the machinery Of the tariff. She
| has grown fat and rich at our expense.
| A few years ago a duty OF % cents per
ton was imposed on iron-ore. Since then
| the South has rapidly developed its great
resources In iron and coal. This develop
ment so reduced the price of iron that all
the New England furnaces hal 70 blow
out, and they have been compelled 10
| purchase the greater part OF their iron
1 MI of lf-
| luminous coal from the South
"This IS a reasonable and fair C0nli-
| ton Of trade New England Is highly
protected I'm her manufactures. ana sells
| most of her manufactured goods 20 the
| South The South. under the very mode
rate protection of 70 cents per ton. h.
| enabled to sell her coal and iron 10 New
| England"
| SOCTHS NATURAL ADVANTAGES.
"The South" continued Major Doc, y
by reason OF IT'S natural advantages. lts
great deposits Of iron and their proximity
TO the coal-beds can make iron cheaper
| than any other portion of the Unit.
States Hence New England. having hut
scanty ore-beds and no coal has found
IL more profitable TO buy orr cheaper
iron than TO make IT, On the other hand
the skill and technical trainiu. " her
artisans enables her under the hieh pro-
lection which she enjoys 10 SEN u4 most
| of the manufactured goods which We
buy.
Now. New England says. We % rot
Ike this condition Of things. We want
10 have continued protection FOR our man
ufactures, so that W. may continue 90
sell our goods 90 the South, hut we want
TO " our coal ana iron-or- from the
British Domnions ami not from the
ton on coal ana lrou-oro. we can then
buy our coal AMI ore from Great Britain
cheaper than we can from the South, or
the South. IL II wants 10 sell 90 us must
reduced the price by IS cents per ton. Thus,
We will be- enabled 20 add the - cents
per ton which we now pay on coal and
iron. to the profit on the manufactured
goods which We sell 20 the South. ana
the South will either have 20 stop selling
US coal and iron, or IL VIII haV" o. dee
duct - cents per ton from the profit which
it has been realizing.
This is the lvowed object Of those WHO
advocate the Wilson bill. There is uo
corcealment about IL. They openly pro-
claim that coal and iron ana wool shall
be- deprived OF protection I'm order that
the manufacturers who use those mate |
rails may get the benefit. and this Is the /
result Of that tarn-reform which has |
been so long and ardentiy advocated 10y |
our Southern Democratic leaders. We are /
now told authoritauvely by Mr.. Clet"- /
land and the Committee on Ways and |
Means that tariff for revenue which the !
Democratic platform requires. means pro- |
lection and increased profit on New Eng
lands manufactured goods which we have
to buy: but no protection for those pro- !
ducts OF the South such as sugar, iron
ore. and coal which We have TO sell and
New England has TO buy.
THE DISCRIMINATION
In other words. the South Is to be- 6e- |
prived Of a market for It's products In |
order that the markets for the products |
Of New England may be- enlarged and ex-
tended. Our infant Industries, which have |
just begun 70 strengthen and expand |
under the slight modicum Of protec- |
ton which they have enjoyed for few |
years. are TO be- crushed out I'm order that |
the old and stalwart Industries OF New |
England may be encouraged f0sterei. and |
stimulated. Thus It has been ever since
the foundation Of the government.
we have been the bowers Of wood and |
drawers OF water, while New England |
has waxed rat. rich. and insolent by |
using the machinery OF government taxa
ton 10 levy tribute on the South. / |
have no hesitation in saying that II ! |
were in Congress | should unite with the
representatives Of West Virginia. Ala |
bama, and Louisiana In demanding pro-
lection for our industries commensurate
with that given 10 the Industries OF New /
England and If we fail To obtain justice, |
/ would vote against the passage Of the
bill"
TALK OF THE DEFICIENCY
What do you think Of Nr. Cleyeiand's |
q. .
THE message is most conspicuous by |
reason Of the fact that at time like |
this. when the gold reserve IS reduced 70 |
$S5. 10000 and the entire Treasury bal |
ance 10 about $95000,0Q0. when IL II appa-
rent that there must be an enormous
deficit for the year. Mr. Cleveland has |
absolutely no policy 20 recommend. Two |
months ago Secretary Carlisle reported |
TO the Senate that the deficiency would /
probably reach SJ0GtO,g0O and might /
reach S75,O 900. We know that the eX
penditures OF the government since July |
/. 1898. have exceeded the receipts by !
about 100000. Yet Mr.. Cleveland. In |
his message. puts the deficit for the |
year at only S2S,000.0O0. II is scarcely |
possible that II will BE- less than &c.. \
900 600
THE country expected that Mr.. Cleye-
land would indicate how this enormous /
deficiency was TO be supplied. OF course. u |
cannot be done by taxation. No new tax
will bring money into the Treasury this |
year Every financial interest IS anXiOusly |
awaiting to know how the Treasury Is |
to be strengthened. so as 70 give conf |
dence TO our own people and 10 the |
world that the government will be able |
to meet its obligations. One OF the chief
causes OF the panic was the depletion Of
the Treasury The surplus goes on de-
creasing and must continue to decrease,
to the great alarm OF all thinking men,
and yet Mr. Cleveland has no word OF
reinsurance to give; no policy TO outline:
no suggestion to make as TO how this
enormous deficit shall be met.
1T is a great disappointment to the
country From man OF Mr.. Cleveland's
acknowledged abilities and positiVeness
of character We had a right 20 expect
a decided expression OF views as TO what
should be the future financial policy OF