Middletown transcript., 1896-09-05

the present evils may be mitigated ar d
dangers threatening the future may be
averted. Our unfortunate financial
plight is not the result Of untoward
events, nor of conditions related to our
natural resources, Nor is it traceable
to any of the Affections which frequent
lly check national growth and prosperity
With plenteous crops, with abundant
promise OF remunerative production
and manufacture, with unusual invi-
tation to safe investment, and with
satisfactory assurances to business ell
terprises, suddenly financial distrust
a1d fear have sprung up ON every side.
Numerous monied institutions have
suspended because abundant assets
were not Immediately available to .neet
the demandsDf frightened depositors.
Surviving corporations and individuals
are content to keep in hand the money
they are usually anxious to loan, and
those engaged in legitimate business
are surprised to find that the securities
they offer for loans. though heretofore
satisfactory, are no longer accepted.
Values supposed to be fixed are fast
becoming conjectural, and loss and
failure have invaded every branch of
business.
LOSING IN BOTH DIRECTIONS.
We have either been sending too
mnch money out Of the country or get
ting too little in, or both. We have
lost steadily in both directions. Our
foreign trade has been diminished and
our domestic trade has suffered incal-
culable loss. Does not this suggest
the cause of our present depression and
indicate its remedy3 Confidence In
home enterprises, has almost wholly
disappeared. Our shops are closed or
running on half time at reduced wages
and small profit, if not actual loss.
Our men at home are idle, aud while
theyare idle men abroad are occupied
in supplying us with goods.
Our unrivaled home market for the
farmer has also greatly suffered be-
cause those who constitute 1.-THE
great army of American wage-earners
are without the work and wages they
formerly had. If they cannot earn
wages they cannot buy products. They
cannot earn if they have no employ
ment, and when they do not earn the
farmers home market is lessened and
impaired, and the loss is felt by both
producer and consumer. The loss Of
earning power alone in this country in
the past three years is sufficient to have
produced our unfortunate business sit
uation. If our labor was we'll employ
ed, and employed at as remunerative
wages as in 1892, in few months
every farmer in the land would feel
the glad change in the increased de-
mand for his products and in the better
prices which lie would receive.
NOT OPEN MINTs BUT OPEN MILLS.
1t is not an increase in the volume
of money which is the need of the time,
hut an increase in the volume of busi-
ness. Not an increase of coin, but IAN
increase of confidence. Not more coin
age, but a more active use Of the
money coined. Not open mints for the
unlimited coinage of the silver Of the
world but open mills for the free and
unrestricted labor of Ammerican work.
men. The employment of our mints
for the coinage Of the silver Of the
world would not bring the necessaries
and comforts of life back to our people.
This will only come with the employ
ment of the masses, and such employ
ment is certain to follow the re-estab-
lishment of wise protective policy
which shall encourage manufacturing
at home.
Protection has lost none of its vir
tues and Importance. The first duty
of the Republican patty if restored to
power in the country will be the enact
ment Of tariff law which will raise
alt the money necessary to conduct the
government, economically and honestly
administered, and SO adjusted as to
give preference to home manufactures
and adequate protection to home labor
and the home market.
We are not committed to an y special
schedules or rates of duty. They are
and should be always subject to change
to meet new conditions, but the prin-
ciple upon which rates of duty are i'm
posed remains the same. Our duties
should always be high enough to meas
ure the difference between the wages
paid labor at home and in competing
countries, and to adequately protect
American investmen is and American
ont forDria 200