San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-06-16

and to history. the mighty iced and H.
lustriOus living are our inspiration and
tower Of strength.
II we are but true to their exalted ex-
ample, we cannot be false to our country
men.
For a third OF a century prior to the ad-
vent OF the present democratic admins
t~ration, we operated under laws enacted
by the republican party. All great meas
ure concerning the currency on tariff
originated with IL. The tariff laws we're
formed upon lines which protected our
laborers and producers from equal and
unjust foreign competition and upon the
theory that the best market in the world
is the home market and that 1t shonld be
enjoyed by our countrymen. Under the
currency laws our currency was made
national. The wildcat state banks
money of the democratic party was
wiped out of existence. The unprece-
denied demands Of the wal were met by a
paper currency which ultimately became
as good as gold. On the resumption OF
specie payment In 1878, every dollar Of
our ~money-gold, silver and paper was OF
equal value the world over. The policy
was to make our currency equal TO the
best in the world. Under the operation
of these, honest tariff and honest money,
republican laws the country grew in
wealth and power beyond precedent. We
easily outstripped all other powers in the
commercial race. On November 5, ls92.
for every mouth. We had reached high
water. Labor received higher wages than
ever, and capital was p~rottably and
securely employed. The national reve-
nues were sufficient to meet our obliga-
lions and leave a surplus In the treasury.
Foreign and domestic trade were far
greater In volume and value than they
Ia 500. k~A, EnEat1n hal mag Nuarn
largely In our favor. European gold was
floating toward us. But all OF this Is
changed.
The cause is not hard to see. A reac-
ton began when ii was known that the
legislative and executive branches of the
government were to be democratic. The
democratic party had condemned the pro-
tective tariff, declared the principle TO be
unconstitutional and solemnly pledged it.
self to the overthrow and destruction OF
the Mckinley law, and to the adoption
OF free trade as the policy OF the United
States, This bold aggressive attack upon
the long settled policy OF the republican
party bore It's natural fruit in shaken con-
iidence, unsettled business, ald we were
soon drifting against the rock Of destru@-
tion. Before the work OF demolition had
actually begun, a run was started upon
the treasury reserve, which the republic
can party had wisely accumulated for
the protection of the government credit.
The drain upon the reserve for the re-
demption of greenbickS and treasury
notes greatly surpassed all previous expe-
rience and emphasized the disaster into
which the democratic administration had
fallen. An utter discredit of the govern
ment possessed the people, The prin-
cipal act Of destruction, was the
repeal of the Mckinley act. But when
they came to the exercise OF the creative
faculty, the enactment OF a general
revenue measure in its steady. there was
general discord. The imperiled interests
OF the country watched and waited
through long anxious months for a settle
ment of the import question. They
wanted an end Of the uncertainty. AT last
the Wilson bill was enacted, and II was
characterized by the president as the
child Of peridy and degradation. 1t was
so bad that he would not contamanate his
hands by signing 1t. A bill that was too
base for Mr.. Cleveland to approve Is too
rotten for the approval Of the American
people. This temporant law was
wanting in the primary purpose
Of a revenue measure for it
failed to provide adequate revenue to
meet the requirements Of the govern
ment. The deficiency thus far amounts
for the deficiency growsidally This leaves
the treasury and public credit in constant
peril. Our foreign credit Is impaired and
domestic capital feels insecure.
The favoritism OF the Wilson law was
one OF its marked features 1t was a
blow to sheep ~hnsbandry which was an
objectionable offense. 1t was a tlagrant
wrong to the farmers Of the United States
This great industry had grown and de-
veloped under republican laws and pro-
lection until IL was one Of our great In
dustries. We are now sending abroad mil
lions of dollars for wool which were paid
to our farmers under the Mckinley law.
The bill struck down reciprocity, one OF
the highest achievements in American
craftsmanship. No measure was
ever enacted which more directly ad-
vanced the interests Of American
farmers and manufacturers than re-
ciprocity. With its destruction
feel commercial agreements under which
their producers were surely finding lar
ger and profitable foreign markets and
without the surrender OF their own. The
substitution Of ad valorem for specific
duties has opened the way for systemati:
and wholesale frauds on the treasury and
producers and employers OF the country.
By means of undervaluatiOns, foreign
goods pass through the custom houses OF
the United States. Thus we have lost
millions OF dollars in revenue and the for
eign produ r has been able 10 unfairly
possess our home market. Neither time
nor place will permit further reference
to the unfortunate legislation Of the dem
ocratic party, nor to the hurtful, damag-
ing effects oil Fit. Suffice it to say that il
has been the great and original factor In
breaking down confidence, checking pro-
gres>, empting the treasury, causing con-
tinued deficits and enforced idleness
among millions OF workers.
To meet the monthly deficit and pro-
tect our government and save the govern
mept notes from protest the president
has been forced to issue bonds; In other
words he has been obliged to mortgage the
future in a time Of peace in order to meet
the current obligations OF the govern
ment. This is a sharp contrast with the
record OF the republican party. Gu
tariff laws not only raised revenues but
thew protected our domestic industries.
they amply protected Our farmer and
~ -a-tk "a garNh NJ