The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-02-23

The New York Herald Admits That Trade
IL paralyned.

IL Iaraiyncd-
Factories are idle. labor Is unemployed.
trade Is paralyxod money ~ a drug and gold IL
rushing from our shores"
The foregoing startling announce
ment was made by the New York Her
aid January 81, 1895. The Herald Is
one of the strongest supporters of free
trade In the United States. 1t made a
determined fight, both with fallacies
and fnlsehoods, In the political cam
paign of 1892 70 elect president and
congress that were pledged 10 free
trade. More than two years after its
party was successful, and almost two
years after they assumed the adminis-
tration OF our nation affairs, the Herald
is compelled TO admit that the result
has been as quoted above.
This un-American sheet has from
time TO time suggested various rem
edies to help its administration out of
the hole into which IL has become sub
merged by its anti-Americau policy.
We recollect how IL clamored for the
repeal of the Sherman silver law, claim
ing that such repeal would be the
salvation OF the country. We recollect
how IL clamored for the passage OF n
new tariff bill. claiming that the aboli-
ton of protection would be the saliva
ton OF the country.
More recently we have witnessed its
struggles for n new currency system;
and again for free ships, both of which
were TO be Of untold benefit 10 the
masses of our people. It's latest cry is
one OF dire distress, and that the coun-
try can only be relieved by "a popular
loan, the only practicable saving meas
ure."
Has the Herald forgotten that under
It's free-trade administration two loans,
amounting in the aggregate TO one
hundred million dollars, have been
fioated? How then will what IL Is
pleased 20 term "a popular loan" re-
lieve the situation? AS long as the adj
ministration Of this country remains
in the hands OF men utterly incompe-
tent 70 properly fulfill their duties
from an American standpoint, these
men having been elected partly
through the agency of the Herald, and
as long as these incompetents maintain
tariff policy that is of advantage TO
foreign countries and destructive in its
operation upon American interests,
just so long will our gold leave the ma
tional treasury, no matter whether
raised by "a popular" or any other
kind OF loan.
The Herald seems 10 think that
meney raised and placed in the treas
ury by what it is pleased 70 term "a
popular loan" will stay in the treasury.
We should like TO know by what proc
ess of reasoning IL arrives at this con-
clusion, and what sacred, prescrvative
halo can be encircled around gold that
Is collected even by Herald's 'popu-
lar loan
II must be that It's over-indulgence
| In its present diet OF crow has caused
/ the Herald 10 become dyspeptic,
| though IL still retains some symptom
Of sound digestion when it says: "Checls
the outflow Of gold and relieve indus
try and trade from the paralysis which
/ Is inflicting unreasonable losses upon
the people"
Certainly this would be the remedy,
4 and the manner In which the outflow
! of gold could be checked, industry and
trade can be relieved from the par.
alysis which Is inflicting Unreasonable
losses upon the people lis by the inn
mediate repeal OF the existing tariff
i bill. by this means and by no other
means can II be done. II Is the Zone
practicable way 20 avert the impending
crisis and lift the country out OF the
present slough" into which the Herald
acknowledges the country has fallen
under the two years administration OF
the political party which II helped e
/ elect.
Let the president OF the United
States follow the example Of the late
ex-president OF France by aclSnowl
edging his incompetency 10 deal with
our affairs OF state and resign. Then
let congress wipe out the existing tariff
"and lift the country out of the present
slough" by the immediate restoration
of adequate protection TO American
labor and American industries. This
would be popular loan" TO the peo
pie of an opportunity 20 exercise their
ability and 10 use their labor. IL Il
"the only practicable saving measure
and the New York Herald knows it,
| American Economist.