The times. (Owosso, Mich.) 1882-1897, 1896-09-04


experiencing the effect OF partial free
trade. The one must be averted; the
other corrected. The Republican party is
welded to the doctrine of protection and
was never more earnestin its support and
advocacy than now. If argument were
needed to strengthen its devotion to 1.-THE
American system" or increase the hold of
that system upon the party and people il
Is found in the lesson and experience of
the past three years. Men realize in their
own daily lives what before was to many
of them only report. history or tradition.
They have had trial of both systems and
know what each has done for them.
Washington, in his farewell address
Sept II, 1898, 100 years ago. said: GAS a
very important source of strength and Sc
curity cherish public credit. Ore method
method of preserving it is to use 1t as spar
ingly as possible; avoiding the accumula-
ton of debt, not only by stunning occa-
sions of expense, but by vigorous exer-
tions In time of peace totdischarge the
debts which unavoidable wars may have
occasioned, net anonymously throwing
upon posterity the burden which we our
selves ought to bear"
To facilitate the enforcement of the
'It is essential that you should practically
bear in mind that toward the payment OF
debts there must be revenue; that to have
revenue there must be taxes; that no taxes
can be devised which are not more or less
inconvenient or unpleasant; that the in
trinsic embarrassment inseparable from
the selection of proper objects (Which is
always choice of difficulties) ought to be
dori ci ,off ua otr
ton of the conduct of the government in
making 1T, and for spirit of acquiescence
In the measures for obtaining revenue
which the public ,exigencies may at any
time dictate" Animated by like senti-
ments the people of the country must now
face the conditions which beset them. ''The
public exigencies" demand prompt pro-
tective legislation which will avoid the
accumulation of further debt by provid-
ing adequate revenues for the expenses of
the government. This is manifestly the
requirement of duty. If elected president
of the United States it will be my aim to
vigorously promote this object and give
that ample encouragement to the occupa-
tons of the American people which,
above all else, is so imperatively de-
manded at this juncture of our national
affairs.
In December, 1892, President Harrison
sent his last message to congress. 1t was
an able and exhaustive review of the con-
dition and resources of the country. 1t
stated our situation 80 accurately that l
am sure it will not be amiss to recite his
official and valuable testimony. "There
never has been time in our history" he
said, "when work was so abundant or
when wages were so high, whether meas
ured by the currency in which they are
paid or by their power to supply the neces-
saries and comforts of life. The general
average of prices has been such as to give
to agriculture fair participation in the
general prosperity. The new industrial
plants established since Oct 6, 1890, and
up to Oct. %, 1892, mum Der 345 and the ex-
tension of existing plants 108 The new
capital invested amounts to $40, 446, 060,
and the number of additional employees
37,2S5. During the first six months of the
present calendar year 1876 new factories
were built, of which 40 were cotton mills,
4S knitting mills, 20 wooden mills, 10 silk
mills, plush mills and linen mills. OF
the 40 cotton mills 81 have been built in
the southern states" This fairly describes
the happy condition of the country in De-
cember, 1892 What has 1t been since, and
what is it now?
The messages of President Cleveland
from the beginning of his second admins
tration to the present time abound with
descriptions of the deplorable industrial
and financial situation of the country.
While no resort to history or official state
ment Is required to advise us OF the pres
emit condition and that which has prevail
ed during the past three years, 1 venture
to quote from President Cleveland's first
message, Aug. 8, 1893, addressed to the
Fifty-third congress, which he had called
together in extraordinary session. "The
existence of an alarming and extraordin-
airy business situation" said he, "involv-
ing the welfare and prosperity of all our
people, has constrained me to call together
in extra session the peoples representa-
tives in congress, to the end that through
the wise and patriotic exercise of the leg.
islative duties with which they solely are
charged the present evils may be miti-
gated and dangers threatening the future
may be averted. Our unfortunate fnan-
cial plight is not the result of untoward
events, nor of conditions related to our
natural resources. Nor is it traceable to
any of the Affections which frequently
check national growth and prosperity.
with plenteOus CTopS, Will dpuiuaht
promise of remunerative production
and manufacture, with unusual invita-
ton to safe investment, and with salts
factory assurances to business enter
prises, suddenly financial distrust and
fear have sprung up on every side.
Numerous monied institutions have
suspended because abundant assets
were not Immediately available to meet
the demands of frightened depositors.
Surviving corporations and individuals
are content to keep in hand the mon
ey they are usually anxious to loan,
and those engaged in legitimate bust
ness are surprised 20 find that the Sc
curities they offer for loans, though
heretofore satisfactory, are no longer
accepted. Values supposed to be fixed
are fast becoming conjectural and loss
and failure have invaded every branch
of business"
WHY THIS SUDDEN CHANGE?