St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-04-09

view of the Political Situation
and a Crumb Of Comfort to
the Friends of Tariff Reform.
The Democratic Association of Min
hesota last evening Issued the following
address to the Democrats of Minnesota:
To the Democrats of Minuesota:. 1t
is useless to disguise the fact that our
party is confronted with serious peril.
1t is time for plain words. Silence now
is disloyalty to our party and its cause.
In less than two years after winning the
most complete victory any party ever
won. while yet in full possession of the
powers then given us. we present the
appearance of defeated party. while
our opponents. routed in that battle,
wear all the airs of victory.
What mas wrought this astounding
change? Whence comes this peril?
Not from our open opponents; not from
The brawling horde of protectionists
whom we met and overthrew IN 1892:
bat from malignant and treacherouS in
fluences, allied with weakness or cow
ardice, within our OWL ranks. The
danger that obServant men saw when
the election of 1892 put on our party the
responsibility of directing national af-
fairs and the duty Of redeeming the
pledge of tax reform made to and ac-
cepted then 10y the people. then a
cloud no larger than mans hand. has
overspread lhe whole sky.
The blatant cry of reckless and un-
candid partisans. chagrIned at their
overwhelming rejection in 1892. that the
hard times and the panic of last year
were caused by the change decreed that
year. is believed only by the foSsilized
partisan or the ignorant and thoughtleSs,
but Affects the opinion of no intelligent
man even among our opponents. The
industrial depression is world wide.
Originating in the Argentine and
Australia it reacted Oh the old
world before its wave reached our
shores. Even under normal conditions
and under the administration OF any
party we could not have wholly escaped
its effects. Unhappily Tor US, our eondi-
tons were abnormal The ruling party
had for years cultivated spirit of spec
ulation with its protective policy. slim
ulating production by the promise of
unearned profits. This abnormal con-
dition was intensified by two acts of
Republican legislation, the Mckinley
act and the Sherman silver pur-
chase act. The former. by its enlarged
promise of increased proEts TO produc-
by il, stimulated industrial enterprise
into fever of speculation which spread
ccntagiously. creating or augmenting
baleful 'booms" on every hand. The
latter act impaired confidence at home
and a5Iold in the stability of our cur
rency, and holders of our securities.
fearing rapid descent to a silver
monometallic basis, exchanged their Sc
curities for our gold.
Let US be candid. The country had
reason TO believe that our party was
sincere in its declaration made at Chi
cago, and that its representatives would
proceed at the earliest moment constitu-
tionally possible to fully redeem 1t. 1t
expected that the policy of taxing the
people, pretentiously to enhance the
wages Of labor, but really to give TO
favored investments of capitaiunearned
profit. would be definitely aban-
doned. and that taxes would be
laid with a view single to revenue.
Naturally. investments dependent on
the tariff began to prepare for the
change. Production, stimulated 10 eX-
cess by the act of 80. with commenda
bic business prudence, checked its out.
put to the needs of consumption, OF
stopped to let consumption reduce &
gorged market. This would have been
the case under normal conditions. The
panic came to accelerate the process by
compelling banks, III order 10 save
themselves from alarmed deposltors
10 reduce or entirely withdraw credits
from manufacturing establishments
resting largely on credit capital. Dras
tic as 1t was, the monetary panic had
this compensation. that it FASTENED the
adjustment OF the conditions of trade
and business to the expected change.
Both forces brought the country into q
condition where the change could be
made from protective to revenue taxa.
ton with hardly perceptibie jar. The
country was economically prepared fol
change to a revenue tariff before con
gress convened.
What was our promise to the people
and what has been, so far, our perform
ance? We denounced protection as {
fraud and robbery of the masses fol
the benefit Of a few" and we promised
that taxes on imports should be laC
with sole view TO affording revenue
Our first disappointment was in tht
departure from the declared polio,
OF the party in the undue and needles:
measure OF protection granted by tht
house bill, but. mindful of the extent Il
which contact with and sharing In tht
eXtortions of protection had demoral
lied representatives. in our own ranks
we accepted it as the best now attain
able and looked to its free listing O
coal, iron ore, wool and lumber as tn
entering wedge to be driven home b,
later and harder blows. The hous
added sugar to the free list and sent tn
bill TO the senate.
Here the error of the house bill be
came quite apparent. The compr0mS
of principle there made bore plenteou:
fruit In the senate, The concession
made in the house only whetted tn,
appetite and fired the audaclty of tn
protected interests. With renewed en-
ergy they concentrated their efforts Oh
the smaller body, farther removed from
the people, less resp onsible to then
and more impervious to public opinion
To our shame and disma
they found senators representa-
Democratic constituencies which haC
denounced protection and demande
Its obllterat:ol from our taxing policies
willing to aid them. In the secrecy O
the committee rooms these senator
br0wbeat the subcommittee with threat
of open opposition to the bill, unless th
specia! industries they represente
were a1So oraDfad nrotaotion o- ,i.o