Omaha daily bee., 1895-12-05
THE OH AND NEW TARIFFS.

THE OLD AND NEW IdhiFFS'
Mr.. Cleveland speaks of the last
republican tariff as having been "inefii-
Client for the purpose Of revenue, cur
tailed our trade relations and impeded
our entrance to the markets OF the
world" and among the causes for the
constant shrinkage of the gold reserve
mentions "the great falling off of eX-
ports under the operation of the tariff
law until recently in force, which Grip
pied our exchange of commodities with
foreign nations and necessitated to some
extent the payment of our balances in
gold" 1t is fair to assume that the
president made these statements with
sincerity and with no intention TO mis-
lead, but they certainly do no credit to
his information regarding our recent
economic and fiscal history. Every we'll
informed man knows that under the
last republican tariff, down to the close
OF the Harrison administration, the
revenues of the government were In eX-
cess of the expenditures, so that when
the present administration came into
power the treasury gold reserve was in
tact and there was n comfortable sur
plus During the fiscal years 1891, 1892
and 1893 the excess of revenue over
expenditure was nearly $4OWOOOO, the
inefficiency of the republican tariff to
supply adequate revenue in the fiscal
year of 1894 having been due to the
fact that importers curtailed their busi-
ness in anticipation of much lower
duties promised by democratic success.
Every well-informed man knows that
the last two years of the Harrison ad-
ministration, and especially the year of
democratic success 1892, were period
of almost unparalleled activity and pros
perity, both in our domestic and foreign
trade Instead of the last republican
tariff having caused n falling off in eX-
ports. the value of these in 1891 and
1892 was the largest in our history. hav-
ing in the latter year exceeded $1,000
100000 and for the two years nearly
81 ,9O0.00O,O0O. 1t Is true that exports
fell off in the fiscal years of 1893 and
1894, but it is perfectly obvious that
this was not due to the tariff. 1t is eX-
planned in part by reduced importntions
and in part by the increased competition
of other surplus-producing countries.
The fact is unimpeachable that until the
time of democratic success, with its
threat to overthrow the policy of pro-
lection, the republican tariff operated to
greatly increase both domestic and for
eign trade, the reciprocity feature of
that act adding many millions to our eN
ports. 1t Is thus seen that there is no
ground or justification whatever for the
assertion of the president that the Nc
Kinley law was either inefficient
as revenue measure or discouraged
exports. The democratic tariff. on the
other hand. has utterly failed thus fa~
as a revenue measure and certainly has
not encouraged exports.
Mr.. Cleveland says of the present
tariff. Which at the time of its adoption
he denounced as an act Of perfidy and
dishOnor "ld allowed to become law
without his signature. that while en-
couraging our intercourse and trade
with other nations it recognizes the
fact that American self-reliance. thrift
and ingenuity can build up our cOun-
try's industries and develop its resources
more surely than enervating paternal-
ism" This policy has certainly enabled
British manufacturers to revive their
previously depressed Industries. but in
no other respect has it encouraged our
intercourse and trade Wiz o-Ier H;f-
tons. During the last fiscal year our
imports increased about $T6,000,00O over
the imports of the preceding fiscal year
and if underyaluations be taken into
consideration the amount was much
larger than this. The decrease in eX
ports was about $T4.0O0,00O This is
not the sort of encouragement to inter
course and trade which the American
people want, with its steadily accumu-
lating treasury deficit and foreign in
debtedness. 1t is manifestly absurd to
talk about people building up their
industries and developing the country's
resources under such conditions, and il
is no less so to talk about cheap living
when the earnings of the people have
been reduced to correspond with the
decline in prices and there is not full
employment for all who want to work.
Mr.. Cleveland is fully aware of the
disastrous effects of the democratic
tariff policy, but he felt bound to say
something in defense of it. What h
has said. however, will serve only
text to show how utterly fallacious
and severely damaging to the welfare
of the American people that policy is.
, WILL NOT ARBITRATE.