The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-10-17


semb,ed Saturday night in Masonic hall to
listen to an address delivered by the Hon.
Henry c. Bell, deputy commissioner of
pensions The audience was not only
large and enthusiastic, but It was dis
tinctly an intelligent one, as was evinced
by the close attention paid 70 the speaker
through more than an hour Of his address,
as well as the frequent manifestations of
approval as Mr.. Bell, with an eloquence
not frequently noted in the political
speaker and rich fund OF official figures
and authorities, gave to his audience
clearly expressed analysis OF the history Of
tariff legislation-even back to 1883 when
the first tariff law was passed-that has
not been heard in indianapolis for many
years from the stump.
After expressing qualification at seeing
an audience so large and composed, as he
was convinced, Of so great percentage
of thinking men, he went into a concise
review Of the history of tariff legislation
In this country and the results produced.
1t was in 1889, he said, that the first
legislation regarding a tariff on foreign
articles was enacted. History showed
that this was followed by a palpable de-
preston Of trade, but it was
in 1908. when the Importance Of
foreign articles Of manufacture
was prohibited, that the in:quities
of protection were measureaoly ielt.
There was one year Of desperate CONNER
cial disaster which brought ruin to the
doors Of thousands of the temples of
trade and sent countless merchants into
irreTievab,e ruin. And this was accom-
pdShed in one short year under scheme
Of protection which had been absolute.
In 1909 the law was repealed and this was
-Fr~ae of
prosperity In 1912 the tariff was dOU0-ed
and again serious and disastrous depres-
sion OF trade came sweeping over the
country In 1916 the first measure OF
protection was enacted, and this, accord
ing 20 the history Of the times, was TO-
lowed by a depression 50 far-reachlng
and wTetched in its affects that even IN
puricanical New England, among the
factories and mills. there came the
growls and muTmurs of well-deaned
but incipient rebellion.
In 1918 the tariff was increased and
was followed In the year 1919 by none
tary stress and panic. In 1924 the tarlI
was still further increased and here came
@ general reduction of the wage scale
through the factory and mill districts or
the East. In the year 1928 there was
further increase of the tariff and the re-
suit was a still greater Stagnauon along
the lines Of trade and commerce But 4
change for the better came when. N
ural consequence there was experienced
an almost immediate revival of business.
In 1888 the tariff was still further reduced
and for the first time there was brought
TO the federal treasury a surplus of pub
lie revenues. In 1912 the tariff was re-
stored and in 1913 the most severe stag
nation in business known up To that
period was experienced. From 1916 10
1857 the tariff was cut down one-hali and
the result was gradual resumption Of
business and an increase of trade. From
1861 to 1867 the tariff was steadily in
creased until in 1868 il was raised on wool
followed by a decrease in the raising Of
sheep and the production Of wool. In
1870 there was sight decrease Of the
tariff, but so slight that the benefits 10
business in the country We're not noted.
The Panic of 1873.
In 1873. under the protective policy es-
tabllshed by the republican party. one
OF the most frightful panics ever known
to the United States came upon the coun-
try, with losses to business which were
Unreasonable colossal. The business Of
the country, after partially recovering
from the effects OF the panic of 1873, con-
tinued along under the stress Of repub-
lican protection until 1890, when the mon
str0us measure Of protection evolved from
the brain Of william Mckinley. assisted
by the trusts and combines, was f)isted
upon the people. The people of the United
States well know what has come To the
country from this iniquitoUs measure. It
has been seen in the closing Of factories,
the reduction of the wages. the multiply
ing Of tramps and the march of shelter
less and starved armies down to Wash
ington"
Mr.. Bell went over the position taken
by the republican leaders in regard to
the tariff legislation Of the recent session
of congress. and referring to the father
Of the late republican tariff monstr0sity,
said:
Governor Mckinley in his speech made
at Bangor, Ne, on the Sth Of September
said that under the operation Of the law
OF 1890. every man in this country was
employed a. good wages, every factory was
running at IT'S full capacity and the con-
sumer was receiving the necessaTies Of life
cheaper than he had ever received them
before
1--WE have been living under the opera
ton of this law since Oct. 6, 1880. until
within the past six weeks. and is il a fact
that during the past four years under the
Mckinley law every man IN this country
has had employment and at good wages?
And is 1t true that every factory has been
running at it's full capacity during that
timer To ask this question is TO answer
It. 1t is notorious that every man in this
country who wanted employment during
that time has not received it al good
wages, nor has he in a large number Of
cases received it at all. And is it not
try has not been running at its full ca
pacity during that time, but that, in fact.
a large proportion of them have not been
running at al, and have only begun
operations since the passage Of the Wilson
tariff law? And If it is true that the con-
sumner has been receiving the necessaries
Of life cheaper during the past four years
than ever before. then il necessarily f0.-
lows that protection has chea pened the
price OF articles Of consumption, and, If
so, how could it have been a benefit to such
producers, and how can they be injured by
still further reductions, as 1t il claimed
that the Wilson law will bring about2
1.-THE governor asks If any thoughtful
man believes that the law of 1894 will
ever restore these happy conditions here
In the United States% What irony Of
language is thisl Every man who has
studied the subject Of tariff at all from
an economical and historical, rather than
from a political and selfish standpoint,
knows-not beleves-that the law Of
1894 will not restore the happy conditions
existing here since the Mckinley law
was passed, for the simple reason that
no such conditions have existed: but that
Il will dispel the miserable business con-
ditions existing in this country since the
passage OF the act OF 1850 no thoughtful
man for a moment doubts. They are so
plain that even the wayfaring man.
though a protectiOnist, can hardly escape
seeing them.
Every man IN this country employed
at good wages, and every factory run
Ming AZ its full capacity during the past