Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1894-04-05

zen SlrlnkaGc OF trade, IN commercial
disaster ANA the depression of indus
tries, the worst for fifty years.
Whether the final results Of the panic
of 1881 were relatively more severe,
the Scany records of that time do not
clearly show The wear closes with
prices of many products the lowest
ever known, with millions of workers
seeking in vain for work, and with
charity aboring 10 keep back suffer
ing and starvation in all our cities
All hope that the new year may bring
brighter days but the dying year
leaves only a dismal record The re-
view of different departments of trade
given Eday exhibits collapse OF
industry and business which is almost
without precedent The iron industries
sustained weekly production Of ISL.
1j1 tons of pig May |, but October l
the output had fallen to 1883 tons,
and the recovery 10 about 100000 tons
December / Still leaves 40 per cent.
Cf the force unemployed, over half
the wooden manufactures are idle and,
excepting a brief recovery in Novem-
Der, have been ever since new wool
came i'm in May, for all sales in the
chief markets in the eight months
have been but O6.79J, 400 pounds.
partly for speculation. the price hay
ing fallen 20 per cent for tleeccS 10
the lowest point ever known, against
2t2.&39o03 pounds i'm the same months
L.. a. .,F "a
fully one-fomth below the usual guam
tiy The small advance attempted in
bcrtS and shoes a year ago was not
sustained but with prices as low as
ever the shipment of boots and shoes
from Boston are - per cent less
than last year in December. Not only
manufactured goods rs a whole, but
the most important farm products are
SO low that farmers find little com
fort
The speaker then pointed out that
while the expenses of the government
now exceed its revenues the Wilson
bill as it passed the house proposes
to reduce the revenues by over So
100000 This reduction he said,
lis made upon the theory of the demo.
cratic free traders that it will relieve
the people of burdensomc taxation.
Whether it does not not depends. But
of one thing we are certain; 1t has
relieved the people of employment of
work of wages. Of prosperity and of
plenty and some of them of their
homes. The blessings of good wages
good prices and good times are more
to be desired than the proposed relief
from so-Callcd Cumbersome taxation.
Such a relief is no relief,
Coy. Mckinley next reviewed the
past tariff history of the government
showing that from Washington down
the wiScst American statesmen have
advocated the protective policy This
was followed by a criticism of the
Wilson bill Referring TO the rcciproc
ity arrangements made with England,
Germany. Spain and South American
countries, which that bill proposes to
aunul. he said: As the result Of
these commercial arrangements. and
for the most part due 90 them, our
a y
The domestic exports TO Germany and
Austro-Hungary had increased in
value. up to December. 1892. from
S47,OO0OO0 to $57.OO0,OO0 or more than
81 per cent With American countries
the value of our exports had Increased
up to that date from SHo0O,O00 to
S54.OOOOO0. or upwards of % per cent.
The total increase i'm the value of cN-
ports to all countries with which re
ciprocal arrangements have been made
have been 2O,772621, which sum is
chiefly from wheat, -four meat and
dairy products, from lumber and the
manufactures Of iron and steel. our
imports with these countries have in
creased also i'm the same period con
sisting Of articles which we 30 not
ourselves produce, like sugar, coffee,
india rubber and crude drugs
During the first half of the year
1891 we exported to Cuba 1900 bar
relS Of flour During the first half Of
the year 1892, under the reciprocity
clause, we exported to the same coun-
try $4,000 barrels. For the next yc;fr
ending August 81. 1891, our total eN.
ports to Cuba We're S11,9OOO0O For
the corresponding period, ending Aug
INST 81. 1892. our total exports were
S19,7O00OO. under a law not yet two
years in operation Of this great in
crease nearly 100000 were in -four.
about 100000 were i'm bacon. pork
and other provisions. and a large pro
portion Of the remaining exports were
also agricultural products. And yet
the democratic leaders in congress seri-
ously propose to shut the door Of this
splendid opportunity. in the face Of the
American farmer.
"The present law was adequate to
meet all the expenses Of the govern
mcnt, and did meet them for the first
two and a half years Of its operation.
During no year of President fHarri-
sons administration did the receipts
fan below the expenses Of the govern
ment, and when President Harrison
went out Of power, while his admins
tration had paid Off more than 5000
100000 of the principal and interest