The weekly Thibodaux sentinel and journal of the 8th Senatorial District. [volume] (Thibodaux, Lna. [i.e. La.]) 1875-1898, 1896-08-15
4 TRUE PICTURE OF high
PROTECTION PROSPERITY,

isfactinn IL themselves at least. On the
so-cail-l prosperous times this cnnntr.
has cnl.sed anring the last thirty
years 81 Republican l,rntectinn. They
are fond Of drawing pictures ~ Area
LA peace, prosperity and happiness.
attendant on the efforts OF their party
III taxing the masses for the benefit OF
the classes, and of contrasting them
with the somhre pictures which they
linn ef the conditions prevailing under
what they are pleased 10 call the fiee-
trade system.
These high protection propacandists
reckon on tie ialiibility Of the nenple's
memory when they thus overdraw
their pictures Of the alleged Renn.,li-
can millennium. The facts nf history
contradict their statements, bnt know
ing how apt people are. when suffering
from some present ailment. however
trivial. to iurget the greater trials aud
fluctuations of the past. and to look
behind with regret, they take tie
chances Of painting tile recent past.
which Is theirs. in glowing colors. and
invite the people to gaze upon the fan
cifnl productions
Il IS we'll. therefore, to place by the
side of these highly colored. fantastic
representations of the past, some of
tile sober facts of history, 50 that tire
people may draw correct conclusions.
To that end We reproduce the sub
joined resume. taken from tie New
York World of October 1894.
Thomas B. Reed had said in a
speech delivered in New York CITY in
opening the congressional campaign Of
that year:
.Anotber thing which led this wliala
country into the error Of 1892 was the
history Of the last thirty years. Dur
ing all that time we had been prosper
ous.a And noting this glaring falsif-
cation Of history, the World comment
ed thus :
This cold, colossal and impudent
Justification Of history must have
astonished business men among his
hearers whose memories are more than
one year long.
THE panic Of 1873 under Republi-
can rule and after twelve years
Of high tariff taxation, was the
most disastrous, aud the period Of
business depression for five wears
was the most severe Of any
in our history. 1t was officially esti-
mated that 5000, 900 worklngmen were
ont Of employment. Bankruptcy was
widespread. A tidal wave Of ruin and
swept over the country.
.From 1881 to 1886 under two Re-
publican tariffs, there we're labor
strikes lnvalving2s .3O4 establishments
and l,323.2O3 workmen. OF these
94S9 were for incl ease of wages
and 43A against reductions Of wages.
MIR. Reeds party tiE kered the tariff
in 1888. In that year there were 9IS4
business failures, involving s;72,S74,
OOO. In 1884 there were 1O,a5S fail
afrs, involving $226,3343,0OO. In the
next year., still under the Republican
tariff and currency laws. there was a
general business depression. More
than 100000 men we're out Of en-
pioyment.
I'm 1890 the Mckinley bill was
passed, and there were 1O,673 failures
in that year and II. 1894 the next, with
liabilities in each veal amounting to
500, 600. 900. The tariff was
to nearly so per cent, but wages
either stood still or declined, while
prices of necessaries advanced. The
protected manufacturers kept all their
bonus,' as usual.
"Tramps and trusts, the twin prod
Of a monopolist's tariff, were
practically unknown in this country
until WI had endured uninterl upted
Republican rule for a dozen years.
The worst labor troubles, the
riots, the most destructi-e
the nos brutal lockouts
known in any country have oc-
here under high tariffs bought,
made and paid for by the contributors
# the Republican Campaign funds.
1.-The panic of last year uS93) was
under the Mckinley tariff.
md when it was known that no change
.ouId take place for a year to come. 1t
vas due chiefly to the unsettlament of
'uE currency By the Republican silver
nfatioa law. But the old trouble i
# q market glntted with goods under
he enticement of tariff bOunties con-
ributed to the trouble.
1.-The financial and industrial history
f the past thirty Years is simply all
OF short spurtsof stimulated
interrupted by collapses, pan
es aud long periods Of depression and
For Mr.. Reed to speak of it
. . period Of uninterrupted prosperity
to insult the intelligence Of his hear
Ts-r
We have quoted from a Democratic
onrce ; that may initiate against the
orce of the argument in the view OF
ONE honest protect:onasts who receive
suspicion the clever tales Of |
ormer prosperity made to order by