The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1896-07-02
THE ONE GREAT QUESTION.

for the white metal. They form
wonderfully strong army, and
for the most part are men of III
telligence, and many of them
men of great influence. They
are firm in the belief that the f.
nancial system is wrong and
that dull business is due to this
fact. They point to the govern
ment issuing bonds in time of
peace to pay expenses and de-
clare Wall street and the Roth
schilds are in conspiracy to rob
the country. They believe the
financial question is the one
burning issue, overshadowing
all others, and that with a solu-
ton according to their interpre-
tation the wheels of industry
will revo1ve at a quickened pace,
capital and labor will join hands
In new enterprises, and the coun-
try will begin new era of pros
perity.
These men are earnest and
honest in their convictions, but
may they not be mistaken.
There has been no change Of
values since 1892, and at that
time the country was prosper
OTIS, labor was employed at re-
munerative wages and there was
plenty of work for all who want
ed it. There was plenty of
money in the treasury to meet
the demands of the government
and it was not found necessary
in time of universal peace to
sell bonds for money to pay for
government service.
As there has been no change
in values within the past three
or four years, how is it possible
to hold the financial system of
the country responsible for the
evils which have overtaken it
since that time?
Is it not possible that there are
other causes? While the hnan-
cial system has remained the
same, while we have the same
kind of money and every dol
lar, whether gold, silver or pa
per, has the purchasing power
of 100 cents, there has been a
change in the industrial system.
From a tariff which not only af-
forded revenue, but protection
also, a change has been made to
a so-called tariff which does
neither. Under the Mckinley
tariff law, the countries of the
old world were paying tribute in
gold at every seaport on our
coasts, and the revenues were
flowing in golden stream into
the United States treasury. Re-
ciprocity treaties with neighbor-
ing countries were opening new
markets to American producers,
and the dream of the great states
man, Blaine, was being rea-
lized.
Then came Cleveland and
Wilson, and a revision of the
tariff. The result is matter Of
history, just as it was in the
days of Buchanan and free trade
an empty treasury, prostrated in.
dustries and a ruined credit
Reciprocity treaties were abro
gated, not because they were
not beneficial, but because they
originated with the republican
party. Under a reduced tariff
England, Germany and othe.
eastern countries, backed by un
limited capital and ,pauper labor
began supplying the people o
this country with articles Of al
kinds at prices too low to be me
by competition, while at th'
same time the tariff was so low
that the revenue receipts fell be
low the necessary expenditures
The result was a deficit montl
after month, the gold goin!
abroad to pay the balance il
trade, until the country wa
compelled to borrow its own gol
from European Golfers to kee
alive the government. Had i
not been for the ruinous tari
policy of the democratic party
this country would have ha
that gold without having to BOZ
row it, and in addition, woul
have had a goodly sum, besides
paid into the treasury, becaus
the balance of trade would hav
been on our side.
T. .o+ +1,a i,,I,,cf-;o1 exycfa-