Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1894-06-27

1894
"It is possible if not quite probable that
the Elgin Watch cOmpany's plant, stock
and bonds will within Il short time become
the property of an English syndicate that
has made an offer to the owners. The
matter was discussed at yesterdays an
nual meeting of the stockholders at the
general offices in this city after President
Avery had called their attention to it in
his yearly report. He told them foreign
capitalists were willing to pay $1,000
share for the 1000 shares of stock and
take the bonds at par and accrued inter
est This would make a total of $4,000,
000 No definite action was taken be-
cause every one of the 100 stockholders
must decide for himself. About twenty
were present at the meeting, representing,
however, most OF the stock. 1t IS under
stood the majority of the stockholders are
willing to sell. Until last December
said President Avery, after the meeting
had adjourned, mot a dollars worth of
stock could have been purchased at any
price. We were turning out Zoo move
ments a day and employing 5000 hands.
Still we were unable to keep even with
our orders. Now we employ only half
the regular force, working five days
week AS a result the stockholders are
receiving no dividends and some of them
are willing to sell. The prospects are
duh months. We receive an order for %
movements now where Il year ago 800
would have been asked for.
What Reciprocity Has Accomp1i shed.
Gov. Mckinley has recently given some
facts regarding the results of reciprocity
which will prove interesting reading at
a time when the power of the Demo
cratic administration is beng used to
break down all that has been accom-
plished in the direction of charging the
markets for the American farmer:
LAS the result of these commercial ar
rangements. and for the most part due to
them, our trade has shown Il gratifying
increase. The domestic exports to Ger
many and Austro- Hungary had increased
in value. up to December, 1892 from
SAT. 100000 to SOL 600 900, or more than
II per cent. With American countries
the value of our exports had increased
I'D to that date from $44, 100000 to SOL
100000, or upwards of % per cent. The
total increase i'm the value of exports to
all countries with which reciprocal ar
engagements have been made had been
S2O,772, 621r which sum is chiefly from
wheat, flour, meat and dairy products,
from lumber and the manufactures of
iron and steel. Our imports with these
countries have Increased also in the same
period, consisting of articles which we do
not ourselves produce like sugar,. coffee,
india rubber and crude drugs.
During the first half of the year 1891
we exported too Cuba $4,000 barrels of
flour During the first half of the year
1892, under the reciprocity clause. we
exported to the same country :537 ,O0W
barrels. For the year ending August 81,
1891, our total exports to- Cuba We're
81 900 600. For the corresponding peri
cd, ending August 81, 1892, our total ex-
ports were $19,700,OO0, under a law mot
increase nearly 81 100000 was in -four
shout 100000 was ina bacon, pork and
other provisions, and ~ large proportion
of the remaining exports were also. agri-
cultural products. And yet the Dem0crat-
Ie leaders in Congress seriously propose
to shut the door Of this splendid 0ppor-
tunity in the face of the American farm
en-.
Il am not here to- discuss tariff rates
or schedules. These are subject to change
up or DOWN, as new conditions require
1T; but my fnsisteHce is that these changes
must ever be governed by the protective
principle, and within that principle rates
may be, should be- and will be amended
as time, new processes of manufacture
and changed commercial conditions re-
quire; but they must not fall below rate
which VIII adequately measure the diff
ference between the American scale of
wages and that of competing countries,
of our own country and the home mar
ket for our people. The prir~Sple upon
which they were made is not subject to
amendment. The tariff policy of this
country must be protective. That is
what we contend for-that is what the
American people mean to have.
The present law vas adequate to
meet all the expenses of the government,
and did meet them for the first two and
hall years of its operation. During no
year Of President Harrison's administra-
ton did the receipts fall below the ex-
penses OF the government, and when
President Harrison went out OF power,
while his administration had paid off more
than S296000,00O of the principal and
interest OF the national debt, yet he turned
over to the administration which succeed
ed him surplus of upward of S124,O00,-
900, including the reserve fund, which,
under the Republican policy, had never
been encroached upon
Potatoes and Protection.
The Inter Ocean prints some very inter