The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1896-06-18
SPEECH OF FAIRBANKS.
The Temporary Chairman Dealt Princi-
paliy with the Money Issue.

The Temporary Chairman Dealt Princi-
paliy with the Money Issue.
ST. LOUIS, June 17.-Temporary Chair
man Fairbanks in opening his speech
said that for a third of century under
the operation Of these honest tariff and
honest money Republican laws the
country grew in wealth and power be-
yond precedent Said he:
We easily oustripped all other powers in
ihe commercial race. On November 8, 1892,
there was work for every hand and bread for
every mouth. We had reached high water
mark. Labor received higher wages than
ever and capital was prohtably and securely
employed. The national revenues were suf-
fcient to meet our obligations and leave a sur
plus In the treasury. Foreign and domestic
trade were greater in volume and value than
they had ever been. Foreign balances were
largely in our favor. European gold was
flowing toward But all Of this changed
when the Democratic party got into power,
repealed the Mckinley tariff law and enacted
the Wilson Inv, with its insufficient revenues,
aud the condition OF affairs given above was
reversed
The Democratic party had at Chicago con-
demned the protective tariff principle as un-
constitutional, and solemnly pledged itself to
| the overthrow and destruction Of the McKin-
| Icy law and to the adoption Ct free trade as
| the policy of the United States. This bold,
| aggressive attack upon the long settled policy
| Of the Republican party bore its natural
| fruit in shaken confidence, unsettled business
and we were soon drifting against the rock OF
| destruction. Before the work of demolition
| had actually begun run was started upon
| the treasury reserve which the Republican
| party had wisely accumulated for the protec'
| tion of the government credit The drain
| upon the reserve for the redemption OF green
| backs and treasury notes gradually surpassed
| all prior experience, and emphasized the dis
| credit into which the Democratic administra
| tion had fallen. An utter want Of confidence
| In the administration possessed the people.
The Democratic party was harmonious upor
| one subject, and that was the destruction ol
| the Mckinley law. But when they came Il
| the exercise of the creative faculty, the enact
| ment OF great revenue measure in Its stead
| there was discord. The imperiled interests o.
the country watched and waited through thu
long and anxious months for some settlement
of the important question. They wanted aI
| end OF uncertainty. AT length the Wilson bil
was adopted, aud it was characterized by
Democratic president as the child Of "perhdJ
and dishonor" 1t was so bad that he woulI
not contaminate his hand by signing it,
bill that was too base for Mr., Cleveland to ap
provo is too rotten for the approval Of tn
American people.
This important law was wanting in the pri
mary purpose of q revenue measure; for /
failed TO provide adequate revenue to meet tn
requirements of the government. The de
fciency thus far amounts TO some $3.50 0,0,0VI
The end s not yet, for the deficiency grow
day by day. This leaves the, treasury and tn
public credit in constant peril. Our foreigl
credit is impaired and domestic capital feel
insecure Its blow at sheep husbandry was al
objectionable offense it was fragrant wron
to the farm9rs OF the United States, Thl
industry had developed and grown under h,
publican protective laws until it was one G
our greatest. We are now sending abroa
millions of dollars for wool which was paid :
our farmers under the Mckinley law.
The bill struck down reciprocity, one Of tn
highest achievements inlAmerican Statesman
ship, No measure was ever enacted whic
more directly advanced the interest OF III
American farmers and manufacturers tina
reciprocity. With its destruction fell adyai
tageous commercial agreements, under whic
their products were surely finding larger an
profitable foreign markets, and without III
surrender of their own.
The substitution of advalorem for speci1
duties has opened the way for systemat
wholesale frauds upon the treasury and PR
ducers and employees of the country. B
means of undervaluation foreign goods pa.
through the custom houses without payin
their just tribute 10 the treasury of the Unite
States. Thus we have lost millions OF dollar
in revenues, and the foreign producer III
been enabled unjustly TO possess our hon
markets.
Neither time nor place win permit furthC
reference to the unfortunate legis alton of tn
Democratic Iarty, nor to the hurtful, demora
izing effects of it. suffice IL TO say that IL hi
been the great and original factor In breakI
} down confidence, checking progress, emptyir
the treasury causing continued deficits an
enforced idleness among millions of williI
workers. To meet the monthly deficit al
protect our credit and save tha COVE. q.