The herald., 1894-10-28

Georgia. ............. ......... a. 50 SO. 10
tennessee. e.................-.. ....., Sfoo Al 80
Again: During the last IL years our
wealth has increased scarcely go per
cent, and in making this estimate we
credit ourselves with numerous specu-
lative land values.
The bonded railroad indebtedness, &C
cording to Poor, increased from $780,
S74 943 in 1880 to So. 463. Gil ,204 in 1892,
and the other railroad indebtedness,
which was 1852, ,4S9, ,939 in 1880 was s285. :
83l, 1888 in 1892.
During the same period, it is stated
upon good authority that the loans and
overdrafts OF national banks increased
from less than 81 900, 900, 600 to $2,171,-
000, 900, while those of other banks, not
considering private banks, and OF real
estate mortgages, increased from $685.
100000 to 81, 189, 900, 900.
Again, we are assured that high pro-
lection is very beneficial to the wheat
grower. Let US examine the figures.
The price of wheat for the following
periods is thus stated: 1850-60. 81 so
per bushel; 1860-70, SLAP; 1870-80,
s1.27; 1S80-90, 81 cents; present price
(abouD, 66 cents per bushel.
In speech delivered by Representa-
tive Hutcheson in the house of repre-.
sentatives, he showed that in 10 of the
leading states of the union, while the
assessed value of property increased
from 1880 to 1890, $3.50, ,8S7, 1920, never
theless, the value OF farm lands during
the same period, including also the
fences and buildings upon them and
within the same period, decreased to
the extent of nearly $3.50. 100000. And
In these same states the value OF the
production on the farms mentioned
showed a net decrease of over SAG. O0O,-
600; and still during the same period
the value of the implements and
machinery used upon those farms dis
closed a net increase of s8,73S,992. If
there ever was country nearing q
financial crisis, it was this repub.
lie during the Harrison ad min
istration. Census reports show in
addition to the $4,000. O0O. 900
the public debts sum up 1000, QUO, 900.
And upon this accumulated debt the
people of the United States were paying
annual interest when MIR. Harrison
closed up his establishment. In addi-
tion to all this the protected manufac-
turer was monopolizing the markets of
the United States and at the same time
selling wares to foreign consumers for
between 20 per cent and 80 per cent less
than to the American buyer. Sowing
machines of American make were and
are sold in Paris and Vienna by Ameri.
can manufacturers cheaper than thev
have been disposed of here under the
provisions of the Mckinley bill. Hay
rakes. reaping machines, plows and
other agricultural implements are sold
by American manufacturers in the Ar
gentine confederation, in Auetralia and
elsewhere far cheaper than they are sold
in the United States. The pubica-
tione issued by our manufacturers and
sent to South America and Australia con-
tain specific statement that this de-
duction will Q made to meet foreign
competition. Hence our system, as it
existed when Mr.. Cleveland came into
office, had resulted In the lasting detri-
ment of our farmers and to the advan-
tage of the foreigner. and still we are
told that the Republican party is OPP
posed to the foreigner. although it has
made it possible for him to buy Ameri-
can goods cheaper than it is practicable
for the American consumer to purchase
them. When Mr.. Cleveland turned
over the TREASURY 10 Mr.. Harrison there
was available therein $3.50, 34S 9l6. IL !;
$64 boz, ,445.02 was entered in the contin-
gency account, and the net balance then
in the treasury was $l65, ,S46, ALTO Ca
March l, 1898. when Mr.. Cleveland was
cilled back bv his countrymen to
cave them from the dishonor and
bankruptcy threatened by reason of
Republican misrule, he found in the
contingency account, s3S,365 S32 90 /;
net balance IN the treasury, $24 054, :
742 2S; showing total available cash,
$62 52 ,575.1S. The immense eurplus
which Mr.. Cleveland turned over to hio
successor was not only for the great
part dissipatsd. but in addition there to
the Harrison administration spent the
vast sum of $l50,000,0OO Perhaps it
may still be said by our Republican
friends that the country was prosperous
du ing the Harrison administration, but
such a state ment of business would be
considered sufficient to warrant the in
terposition of proceedings before bank
ruptcy and insolvency court in private
affairs.
Moreover, before Mr.. Cleveland was
elected, the contest between labor and
capital had almost ulminateds. We all
remember the great Homestead strike.
which attracted the attention of the
world. In the North A american Review
OF September. 1892. Mr.. Powderly, in
speaking of the protection laws, said:
These laws were passed in the inter-
est OF labor. During the discussion on
the tariff laws it was never advanced as
reason why they should be passed that
capital would be protected. The nrgu-
ment always was that labor would be
protected. The workman has not been