Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-08-06

During nine of these fifteen years the
trend of the gold movement was in our
favor, and during only two of the remain
ing six years-that is to say, in 1889 and
1S91-was the outward movement large
enough to attract attention. In 1889
there were large importations under the
tariff of 1888 for the purpose of antici-
pating the increased duties of the Nc
Kinley bill, and this caused an outward
fiuX of gold in payment. In 1891 the ex-
traordinary outflow arose largely because
of the Barring failure, which caught in
It's crash many foreign holders of Ameri-
can securities, who, being pinched for
ready money, had to return some of those
securities to this country fror REDEMPTION
These explanations are ample to account
for the exceptional exports which char
acterized two of the years of the Harri-
son administration, when the revenues of
the country were upon highly protective
basis. Adding imports together and com
pairing results for the fifteen years in
question we find that the aggregate i'm
ports OF gold exceeded the aggregate ex-
ports to the amount of $101, 56S,310
During this period the national debt was
reduced from $2,349, 567, 232.O4 in 1870 to
ton of $7S5, 1854, 776.41.
Now let us turn to the years from 1898
to 1896, when tariff reform held the
boards:
1S93. Exports .$S7, SOC 463
lS94. Exports ................... 1928 942
1922 1922: Exports ............... 30,9S4, 449
1870" EXPLOITS .................. 74,511, 252
ELEVEN months ended May 81.
Here we have total loss of gold dur
ing the short era of Democratic tariff
reform" of $197, 531 JOG, or a net loss in
four years of S95,962,97 over the net
gain accumulated during the preceding
fifteen years. During these same disas.
trous four years of Wilson German tar
iii reform, the national debt has been in
creased in principal $500, 454, $50, and in
interest yet to be paid almost $3.50, OOO,-
600, or over $500,0O0,000 in all. Had
the voters of the United States not heed.
ed the false arguments of Democracy in
1892 the national debt, instead of being
increased in principal and interest over
half n billion dollars in the intervening
four years, would, at the same rate of
decrease which prevailed from 1879 to
1872, have been lowered to the extent of
S224, 55S, 5O7.32, and instead of loss of
$197 ,531, 1O6 through gold exports we
should, at the ratio of the preceding if
teen Republican years, have had a net
gain through imports amounting in the
four years to $27,OS5,012. Recapitulat-
ing these losses, and not saying anything
of the tremendous personal losses intlict-
ed by the tariff reform" experiment
upon all classes of American citizens
for these in the aggregate are obviously
incalculab le-we find that the "change Of
1892 from Mckinley protection to Will
son-Gorman free trade has cost the gov
eminent of the United States directly, in
its finances, not less than S949, ia
625,32, Il conclusion reached as follows:
Loss Of gold through actual
export ....................S 1J1 ,531 LOG. 90
Loss of gold through what
would have been Imported
had the Republican ratio
from 1878 TO 1892 obtained
from 1892 to 1896. 800. 27,Os5, o12. 90
Loss through Increase In ma
tional debt ............... 800 900, 600 90
Loss through what would
have been the reduction Of
debt had the Republican ra-
ito Of debt reduction which
prevailed from 1879 to 1892
prevailed also from 1892 to
1896 224, SIS, 5O7 80
Total loss. Observation-Disclosures 949, ia, 625. 30
This loss has nothing to do with the
question whether gold or silver
standard is the better. 1t is Il direct
fruit of the Democracy's unwise agita-
ton against protection; palpable dem
onstration that the tariff is emphatically
an issue in this utOn