The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-09-07

lection of statistics"
From the foregoing data there are
certain important conclusions that are
made quite apparent:
First-The period from 1916 to 1861
is a Democratic era. 1t was one of
unexcelled-I may say unequalled-
! prosperity in the entire history of our
country. Although the census Stats
ties for the last decade, from 1880 to
1880, are inflated beyond all precedent,
] they show less than half the gain in
per cent of national wealth as COM
pared with the years 1850 to 1860. The
! latter period shows over 100 per cent
increase counting only assessed valu-
| atoms. The most inflated Republican
period shows only As per cent. Hence
! the statements of the catechism are
undeniably false and misleading.
Second-But a far greater proportion
| of increase is shown when compared
with the other Republican periods,
1S60-1S70-1SS0. These show only about
20 per cent increase. And with respect
to the decade 1SS0-1S90 there are album
| dant evidences of imitation at the
hands of Superintendent Porter. IT
the average 20 per cent increase since
1850 had been exhibited by Mr.. Porter,
| the total wealth of the country could
not have been shown to exceed more
! than fifty billions.
| 1hlfd-lt Is known to every student
! Of finance that the property of the
| country has been undergoing a gradual
| depreciation for the last twenty years,
IN consequence of the financial legisla-
ton of the Republican party in de-
monetizing silver. In the last ten years
this depreciation cannot be less than
! 70 to 80 per cent of all property values.
In the older states farm lands have
/ Ut Loo ~ Tn, vic of
| the universal depreciation of property,
1t is evident to every intelligent citi-
zen that the aggregate wealth of the
| country is now far less than fifty bill
hons, When reckoned on the gold basis
| Which is now our standard Of values
| under Republican legislation.
Fourth-But a far more serious inn
parchment of Republican policy results
! from consideration of the immense
| Indebtedness of the country. (which, in
| all forms, aggregates, at a fair and just
| estimate, 1000, O0O OO0 See the Great
Debate" just published. On page 52S
! Mr.. Harvey says:
Il can only say now that it is admit
ted by the other side that our long
| time debts, including national. state,
! municipal, corporate and including
| farm and home mortgages, amount in
round figures to $20,00000 600. 1t is
also admitted that this does NOT include
| current business accounts aud notes,
nor the enormous sum that hangs over
| the army OF debtors who have gone out
OF business since the repeal of the last
bankrupt law and that may still be
within the statute of limitations.
Neither does it include debts
due from individual to individ-
uaI that are not on record,
and that cannot be classed as
debts coming under the head of bust
ness or traders debts. Nor does it in
clude debts coming under the follow
! ing heads: Pawnbrokers, chattel
mortgages, partial-payment sales, mar
thine debts, overdrafts, judgments and
taxes. 1t l had had time in the de-
bate 1 would have justified by detail
and with authorities the 000O, 100000
at which l had estimated the aggre-
gate indebtedness of the people Of the
| United States
Among the larger items of our debts,
as far as officially reported, are the
| following:
National debt of the Uni
ted States Omitted States
census, 1890. l,9eO, l04
State and municipal debt
Omitted States census
1890 .................. 1,1S5, 21O, 442
Railway bonds on 1885
miles railway, 1892
Doors Manual, 1872. 546S, Gil, 2O4
Mortgaged Indebtedness
of street railways, man
ufactories and business
enterprises ESTIMATED
from partial reports Of
eleventh census). ......... 2,00o,000,00
Loans from 3,77S national
banks Statistical alb
stracts of the United
States .................... 2,153,76 sos
Loans from 5,579 state,
saving, stock and pri-
vate banks and trust
companies statistical
abstracts of the United
St2teS) .................... z,ZVl, 'o4,z5z
Mortgages on acres:
Number of mortgages, 3
sos O61; amount. .......... 22O9,14S, 43l
Annual interest CHARGE. 1852, 652, 944
Mortgages on lots:
Number of mortgages, 3
4746S7; amount. ......... $50, 591 ,554
Annual interest charge. 34,7S9,S4S
1Oldl S-O, -Vo,toc,O--o
With this stupendous exhibit of
fixed Indebtedness, it is evident that
the addition of the many forms of pri
vate debt, as enumel ated above by
Mr.. Harvey, will swell the total to
$40, 900, 000 900 or over, leaving a net
balance Of national wealth greatly less
than we possessed in 1860, when the
debt Of the country of all forms was
so small as to be but trifie when COM
pared with the aggregate wealth. We
are now as a nation on the verge of
bankruptcy. Nothing will save us but
a return to the simplicity, economy and
industry of true Jeffersonian Democ-
racy.
But the most deplorable feature of
our economic condition is that the
wealth of the country is unequally dis
tributed, and it is becoming more so
every day. The rich are becoming
richer and the poor are growing poor
er. Our government is now an arts
tocracy controlled by monopolists and
plUtocrats, and there is no prospect of
a better state of affairs so long as the
genius and principles of Hamilton are
dominant in our national manage
ment. But as this paper is already of
sufficient length, will close by quot
ing from the distinguished Republican,
James G. Blaine, in his Twenty Years
on the Democratic period 1S50-1S6O, as
my purpose is to show that the cate
chism is grossly at fault in not recog-
nizing it as the most prosperous period
in our history. See page 202:
The free traders consider the tariff
of 1916 to be q conclusive proof of the
beneficial effect of low duties. They
challenge a comparison of the Years of