The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1893-09-20

Leaving a balance TO he pro.
yidcd from Gus olns reSe-
nuts of.............-.,...s.. s23a aS2 .9S9
Based upon the value Of the imports
for 1893 (S9jl, SO! i2I) It would make
an average nd vulorem rite Of duty OF
% 4-l0 per cent.
In other words Mr.. President, IL
you enact tariff for revenue in place
of tie present tariff. with large free
list on the one hand. but with n large
scope OF duties practically prohibitory
on tho other, you would in pace of
the present sch, dule OF duties in all
its variations substitute one Of % 40
per cent taxing everything. But When
you have your duties at IA rruhihitory
point you prevent impOrtatiOns.
When yuu reduce your duties below
that point you promote importatlons;
and the lower your duties the larger
yourimportnt.ons until YOU reach the
point when the duties being low. the
lower the duties the larger the row.
enue. Thus tariff Of % 40 per cent.
would probably raise more revenue
than we needed by customs, and so
of the problem and still further re.
lduce your rate. and probably 10 or q
per cent. would lie an estimate Of the
average rate Of duty upou the cntire
list OF importatiOus. ... s=.Z
When you have dJne that. what
would be the volume OF your impor
tatiops, and what would become oil
your balance of trader The gold oil
the country would flow out IN the pur
chase OF foreign products, and thus
the gold for redemption would be still
further reduced. HAT WIS the prob
lem and the showing that stood be
fore the foreigners holding our invest
meptS when the democratic party
came into power.
But while the threat of tho coming
tariff reform augmented the effect OF
the purchase act in Alarming investors
as 20 the redemption OF our outstand'
ing obligations III gold, 1t had another
consequence more momentous and
certainly more far-reaching. No manu-
featuring interest day knows when
1t will be struck, where 1t will be struck
how 1t will be struck. All they know
la that they have every reason to be-
.lieve that they will be struck.
] DO not say they stand. they lie to-
day. with this sword sharpan glitter
ing suspended over them. The esse IL
tial condition OF all business, to say
nothing OF all prosperity, is certainty.
Uncertainty is paralysis; and uneer-
has prevailed from the time the result
of the last election became evident.
So to-day not merely are tho silver
mines closed down. not merely do our
great railroads have teDs OF thousands
of cars standing idle upon their tracks.
not only has the income OF our foreign
commerce been reduced, as shown IN
the receipts OF the steamships. but our
manufactures are closed. our laborers
are idle. and everybody's Investments.
whether they be In land. In trade, In
commerce. in merchandise, in manu-.
features. in transportation, l care not
what, sulfer the common loss aud the
common reduction.
Loss ard suffering are OF necessity
incident to periods OF transition" Ii
the interesting euphemlsm now OF the
tariff reformar, OF the robust, strideni
editor, who stands for the interest Of
importers; OF the puuy weakling col
/. lego professor, who would like bis
!. slender salary TO exc out further; o.
4 the callow youth who seaks to joiI
9 tho ID emoeratic party In the cause o
. reform.
! Meantime the hurricane is upon ul
with all Its devastation; the rich man
: destruction and the poor mans dis
tress. reaching to every home ant
causing loss 10 every OHe anu Balt
to none. What then shall be the rem
edy?
Mr.. McPherson-would 1t interfer
with the senator II should ask him
question in this connecticut
Mr.. Higgins-Not ut all.
Mr.. McPherson-The senator SEEM
TO think tho fear on the part of tn
I industries OF the country. especial II.
those engaged In manufacturing, VIC