St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-10-12
THE NEW TARIFF.
Disastrous Effects of Mckinley

That the Democratic party Is justly
respo nsible for the hard times through
which the country has just p assed. The
financial panic of last year and the
succeeding hard times were the results
of Republican legislation enacted dur~
ing Mr.. Harris0n's administration. You
know who passed the Sherman silver
bill and the Mckinley ill, and one was
IS detrimental to the finances of the
country as the other. One exhausted
The surplus. especially the gold or the
treasury, to purchase silver bullion to
be stored in the treasury as Il CONS
modify, and the other by its high pro-
hibltOry duties failed TO produce
sufficient revenues to support the
government.
The Mckinley bill was a complete
failure. 1t virtually broke down during
the last ear Ut the Harrison admins
ton. the receipts were so meager that
tho expenditures OF the government
nearly exceeded its revenues, Drafts
made upon the treasury department
were not promptly met, among others
drafts for the payment of moneys due
for pensions, as accounting officers we'll
recOliect, anu il system of transfers OF
balances from the different su5treas-
urieS became necessary and was ell
tered upon, which gave all excuse for
delay in settlement Of government
claims, when in truth and in fact the
nation for the time being was vir
tualiy bankrupt, because the avail
able funds had been used to
carry Gut the provisions of the
Sherman silver law, and tie Mckinley
law failed to produce the required reve.
nueS. These conditions kept getting
worse until the Sherman law was re-
pealcd. and then were not fully relieved
until the repeal of the Mckinley law.
What has been the result since then?
With these two ObnOXiu Gus statutes re-
pealed, the country is now
Entering Upon Be,ter Times.
Money is easy, trade is reyiving.
manufacturers are resnming operations,
new enterprises are starting up, and
everywhere there is a feeling of security,
of confidence and OF pros perity. Our
wOrkingnen are rapidly finding EN-
pi0yment, and the great army of the
unemployed will soon disappear.
What the country needs LOW is indus
trial peace. ANY attempt to repeal the
existing law and To substitute the Nc.
kinley law in its place will disturb the
business interests oil the country and
restore the recent hard times. ami
should be frowned down by every busi-
ness man i'll the country. Besides. ii
would be an ill-advised and idle eff urt,
because it cannot succeed. Even X
Republican house uf representatives
should be chosen, supplemented by a
republican senate, 10 law could be
passed without the approval OF a Demo-
cratic president. 1t is b: tier for the
country, better for its direct interest,
better for everybody, that no Sucn eff
fort should be made, but that Demo-
cratic house and senate should he
chosen 10 cooperate with the president
III giving the country industrial peace
for the next two years. Those
who advocate a different course do so
for politics sake alone and not for the
good Of orr common country. Relief
from tariff agitation at this time, no
radical changes in the near future, 4
fair trial of The existing law before a
general revision is again attempted
this is the wise and safe policy which
Will continue the restoration of pros
perity.
The Democratic party i'll 1898 took
charge OF the government under unfa-
vOrable and adverse circumstances.
with slender majority III the senate,
with ain nnwieidy majority in the house,
with humidity and radicalisin to contend
With. it is not to be wondered at that
finally passed by the Democratic major
ity and which is now submitted to the
Judgment vi the country does not in all
respects meet. the public expectations.
Ii is, however, vast Improvement
over the Mckinley law, and will clearly
demonstrate It's superiority as tine rolls
OH and the business Interests of the
country shall adjust themselves to its
provisions. 1t recognizes, i'll part DIT
least, the Democratic doctrine of free
raw materials, and, in response to an
overwhelming putlic sentiment, has ap-
propriateiy provided for free wool, free
lumber and ire salt. 1t has largely i'll
creased the Tree list in other respects;
it has reduced the duty ON coal ami iron
nearly 80 per cent. The general average
reduction frum the Mckinley rates Is
nearly IS IL per cent. 1t may Dc safely
asserted that the new law will not
cripple, nor Will it bar,a single industry
III the land, or throw out of employ
mrnt single workman, or unduly
stimulate uVcr.pr0duction on the one
hand nor rXorbltant impOl tatiOnS on the
other. LII The new bill errS at all it is
i'll the interests of safety and mo,iera-
ton. Inc bill properly strikes blow
at paternaiSm by abragating the ruin.
O9S system OF bOuutieS TO producers OF
sugar, provided for i'll the Mckinley
law. The elimination of sugar bouniies
saves to the American people neariy
Sll,05O,0J0 annually. Ii il be said the
new law III single respect is untluly
favorable TO one particular trust, my
answer is that the old law favored
dozen trusts. Every mali, despite the
Republican statements TO the contrary,
should understand That another general
Or extensive taritt revision is not con-
templaled by the Democrats now Or
in the future. The determination does
not preclude the desirabiity of re-
deeming by the passage OF such bills
whatever pledges we have made in our
platform or Otherwise for raw materials
Or the REIMBURSEMENT of any objectionable
sugar schedule. Beyond this it is not
wise 10 20 much farther at this time,
unless the unforeseen necessity OF the
treasury warrant or lmperailvely de-
mandsit. Applause.
The depression or disturbance in
business which necessarily accompanies
any general tariff revision was, OF
course, tC be regretted, but | call the
attention of the country to the fact, not
generally understood, that 10 matter
which political party won in 1892,
there would have been tariff
revision necessarily. and inevitably
so. because the Mckinley law had
broken down, had co:iap,ed ana had
proven utterly inadequate 10 meet the
necessities Of The government and TO
furnish its required revenues. The
Mckinley tariff duties had been placed
SO high as to be largely prUhibltury in
their effect, aud the NECESSARY revenues
were not foi thcomias; and upon The
advent OF the present national admins
iratiOu TO power, We were confronted
with a virtually bankrupt treasury. ana
the deficit Was daily increasing. When
Democratic administration after four
Years time retired III March, 1889. it left
to its Republican successor ample sur.
Plus and Il reasonably prosperous cOun-
Try. But when that Democratic ad
ADMINISTRATION returned to power in 1898.
1t found tlat lhe ship of state hau
almost been stranded through Repub-
llcan misrule.