The herald., 1896-08-20
AND PROSPERITY

..M'KINLEY AND PROSPERITY"
"NIcKinley and posperity" is the pres
ent promise of Republicanism. Just
why prosperity and the Canton Clam
should be linked together in such fash-
ion there is nothing in either history or
reason to show. The country has al
ready had taste of Mckinley, and it
was not so palatable as to beget a long
ing desire for repetition OF the dose.
For nearly four years the repuonc was
governed by measure that purported
to represent the fiscal ideas of the syn
dicate candidate, and the experiences OF
the people during that time certainly DO
not lend testimony TO the correctness
of the theory that Mckinley and pros
perity are in any way related. Ana NC
Kinley's private business career, capped
as it was with failure in consequence
of his endorsement of paper to the eN-
tent of more than eleven times his per-
sonal assets. cannot be said to suggest
an intimacy with prosperity or with the
business policies that are calculated to
insure prosperity.
Major McKinley's craftsmanship has
been tried in the most effective way
possible-in legislation. The period OF
time embraced within the life OF the
tariff law labeled as his was the most
distressful, financially and industrially,
in the history of the country. The first
unpleasant effect noticeable under ms
law was an increase in failures; the busl-
ness collapses of 1891 being p per cent
greater than in 1890 Before the law mad
completed its second year an epidemic
of wage reductions, accompanied IN
many instances by tedious. expensive and
distressing strikes and lockouts, swept
over the land. Reductions in wages
ranged from to 40 per cent and at the
works of Carnegie, one of the chief bene-
ficiaries of the protectionism of which
Mckinley is the Jealous champion, the
wages of operatives were scaled down
three different times between the date
of the enactment of the tariff law of 1880
and Mr.. Cleveland's election in 1S92. The
last of the reductions in the Carnegie
mills occurred more than two years be-
fore the present tariff measure became
law, At about this time, when the
product of McKinleys genius should
have been bearing its fruits of high
wages, abundant employment and gen.
eral prosperity, the Carnegie plant was
| the scene of one of the bloodiest con-
! ficts in the history of American labor
! troubles-the result of strike about the
! question of compensation. What was
the matter with the pay-raising prosper
ity-inspiring virtues Of the Mckinley
brand of craftsmanship, all this time =?
Why didn't they work?
The third year of the Mckinley pros
perity builder was featured by a panic
that smashed banks and business estab-
lishments by the score dissipated thou
sands of individual fortunes, set armies
of the unemployed marching all over
the country, and wrought havoc geper-
ally in the fields of finance, commerce
and industry.
The fourth and last year of this speci-
men of the handiwork-charity suggests
that 1t be not considered a product of his
brain-of the man who is seeking the
patronage of the American people in the
guise of an advance agent of prosper
ity," will be memorable for the most
widespread and disastrous industrial
strike which commenced in contest,
wages. Strikes against wage reductions
certainly afford very singular evidences
/ Of prosperity.
1t was in this last year of Mckinley s
prosperity promoter that the present ad-
/ ministration found it necessary, in order
! to maintain the gold reserve, to make
| its first issue of bonds. AS a packer
/ of the gold reserve the law did not seem
/ to be a dazzling success. AS a revenue
/ raiser it was no more effective than as
a wage raiser. When Mr.. Cleveland as
/ sumed the presidency in 1899, more than
two and a half years after the Mckinley
! tariff went into force, h found the mag
/ nficent surplus he left a the eXpira tion
! of his first term displaced by a deficit
and the last year of the law closed with
| the largest deficit known in the history
/ of the government, nearly $40, 900 600
Thu: it will be seen that neither private
( nor public prosperity can recognize in
| Mckinley a partner or parent.
/ What is said of McG<inleyism can be
| said to some more OF less important
/ degree Of all Republican legislation that
| appertains to taxation and finance. Nc
Kinley is a typical Republican. and the
| Mckinley bill WAS but a highly devel-
| uped phase OF Republican statesman.
ship. No party which ignores or defes
sound economic principles can bring
prosperity and contentment to the peo.
pie in general.