The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-01-31


Of our farms They were boastful that the
act of 1883 would restore prosperity TO
every branch OF trade and 10 every line
of industry.
What was the result under this act?
From 1888 10 1890 we were constantly on
the verge Of a financial crash. The secre-
tary of the treasury was continually forced
to purchase bonds and prepay interest TO
check the alarm. With all however that
could be done. we had the stringency OF
1855, the panics OF 1854 and of 1890
The number of failures during this Pc
riOd, including the years 1888 and 1880, eE-
ceeded 5000, with liabilities more than
81 25O.O 10000. The failures, which numbered
6,73S in 1882 arose 10 9.1S4 in 1888, and 1897
In 1880. with liabilities aggregating Sl69,61b,-
964. Not since the revision of 1888 went into
below 5000 in single year.
During this period the conflicts between
TtlpiOsSrS ana es nci'iu ILL,
a. TO excite but little interest except in
the most extreme cases. During the years
1852 1884 1885 and 1856 we had 2,97l strikes
in 17,271 establishments embracing ], 039. oil
employees. The number of strikes increased
from AZ, affecting 1851 employees in ISL,
During the years 1882 TO 1856 inclusive,
lOckOutS occurred in 2.2l4 Establishments,
dHeclLhg Ii9'-V employees. Inc cSlllIHle1
wage loss 20 employees by reason OF strikes
and lockouts during these six years aSSre-
gated 1892. fi0.
Notwithstanding this frghtful record Of
destruction and ruin. the advocates of pro-
lection were not yet satisfied. Their theo-
ries Of charging markets and extending
trade by restrictions and prohibitions must
be given Still stronger test. and they
forced upon the country the act of 1No.
and of all the crimes that were ever per
petrated against the prosperity and vel
fare OF q people I'm the name Of protection,
this last was the most gigantic.
Under the operation of this act the num-
Der OF failures arose from 1891 with La
bilities aggregating $1S9 $685.. in 1890. 10
l2.ZI3. with liabilities aggregating SlS9S6S,-
6s3 in 1891. and the conflicts between en-
ployers and employ IS, which had hereto
fore eliminated only in Combats and riots.
became battles between great forces armed
failures in 1892 was 1920. while in 1898 IL
reached the maximum hight. ll.J0n. with
liabilities aggregating 0l00, as against
country has there been such a disturbed
and unsettled condition as we have had.
We have reached point when ldleness
has become 50 common that the feats or
the tramp are considered laudable avoca-
tons
II is estimated that within the cities Of
New York, Chicago. Philadelphia, Cincin
natl, Boston and Pittsburg there are at
the present time more than 4o9Vo honest
and industrious men unable 10 secure en-
plOyment being supported by charity.
Throughout the country, IL is safe TO say
that the ranks Of the unemployed have
been increased more than a million.
The last republican administration which
performed the final act which brought
ruin % the whole country. We're barely
able. even by the overwhelming assistance
of the people. 10 escape from the lettering
structure which they had undermined be
the Wnspeakable effrontery 10 point 10 the
ruins and cXcldim. Behold the results or
democratic ascendcncy"
4 RetrosPcction.
Mr. Chairman. a mere glance az the
history Of the last twenty years is suIi-
cient 10 convince any unprecedented mind
that our industries were at no time I'm a
sound and healthy conditions that trade
was afflicted with such spasnIs of expansion
and construction as TO destroy an reason
able calculations and reduce Che honest
dealer 10 the plane Of the gambler.
Depressions have become SD prevalent as
to DE anticipated by The Spectator and
have become the incentive % specUlations
90 greater extent than the profits of
legitimate trade.
The admissions which protecti0nists make
i'm their eudeavors 10 escape responsibility
is a condemnation of their own profess
sions TO admit that thirty years of pro-
lection under the most favored conditions
has failed 70 plant our Industries upon e.
foundation sufficiently firm 10 enable them
TO Wins tsnd the UrSl sim breeze OF uopU-
lar disapprOyal is to admit that heir struc-
lure was faulty and their architect "a pro
tender,
That the proposed measure has i'm some
degree intensified our PROSTATE condition.
as all changes must, no one Will gaiusay:
UUL ll Us Only NLlfl as fnII produced NT
the Surgeons knife I'm the performance of
skiillul operation necessary To
preserve the life of "a patient. That the
distress which has OVortax.u ms from time
% time and which now presses SO heavily
upon the great Centcrs OF production. are
the direct results Of 20 long period OF eX-
eesSive protection, 1 have not the slightest
II is Difficult. to comprehend how the
DRY so at war with every natural law has
secured so many advocates and taken such
a firm hold upon the minds OF so many
who have been its victims. tt has no
foundation in reason unless it be that re-
straint gives freedom: that restrictions
upon trade enlarge the market; that supply
regulates demand that the manufacturer
can pay higher wages because he sells
Al lower prices; that the producer can
forever prosper at the expense Of the con-
Sumeri that wealth can be created more
easily by legislation than by toll, and
that a people can tax themselves rich.
Protection i'm an ages and I'm All countries
where IL has found a home for any extend
ness. reduced wages deprived labor of en-
plOyment. paralyzed and bankrupted in
dusuies, concentrated wealth in the hands
OF the rev and reduced the great mass Of
the people to state Of dependency.
Great Britnin's Experiences.
The theory of protection was never given
a better test than by Great Britain. Dur
ing the many wars IN which her people
had been engaged up to 1914, the necessity
for revenues had forced her to the adop-
ton of the most oppressive system of
taxation, and from that time up to 1872
she was under the influences Of protective
system, by the side of which ours. on
preSstve as IL Is paleS into insiguifiCance.
Between the years 1871 and 1910 more than
900 customs acts were passed. The whole
number passed previously to the accession
of George III was so. and during the first
nfty-three years OF his reign 1900 addi-
tional acts were passed. Mr.. Noble i'm
his History OF the Fiscal Legislation of
Great Britain tells us that taxes became
so numerous that nothing was left un-
taxed even premiums upon fresh subjects
for taxation failing at last 10 stimulate
invention and produce a fresh tax.
Not only was the protective system nut
into fun operation for the benefit of the
mother country. but by "A system of dis
eliminating duties, the products Of other
governments being charged higher rates
or prohibited absolutely, she endeavored 10
colonies 10 the detriment Of that OF the
balance Of the world. This policy was pur-
sued as we have pursued IL for thirty
years, until the revenues of the govern
ment were insufficient 70 meet the eXpen-
ditures; until her Industries We're no longer
able 10 give employment TO her lahorers
and until the bitter experiences Of the
situation drove parliament and Il min
istry chosen to maintain and uphold the
system 10 lay their hands upon IL and tear
10 down. Mr. Noble in describing the con-
ditiOns which prevailed, says:
THE influence Of the unsOund and re-
strictive policy pursued for so many years
upon national prosperity cannot be more
f0rcibly cxemphfied than by the statistics
Of our foreign commerce from 1901 TO 1910
In the ten years ending 1910. the AVERAGE
annual exports were go, 1880; IN the next
ten years. ISL to 1870. they were ffi asa 4sI
from 1871 TO 1890, the annual average feIi
20 f365g7, G23
During the next decennary period