Morris tribune., 1896-08-12


the country some taste Of what 1t called
tariff reform" and SO In December, 1893,
before the country had fairly convalesced
from the financial commissions of the sum-
mer, the scheme of new tariff legislation
was entered upon, the Wilson bill was in
cubated. 1t was a long time on It's pas
sage, and as 1t left the house, it was an I'M
doubted free trade, or revenue tariff meas
ure and met the hearty approval of Cleve-
land Had it become law in this condi-
ton, 1t would have created far greater
industrial disturbance and a far greater
deficiency of revenue th"n it mas done with
Its senate amendments as it finally became
q law without the approval of the presi-
dent.
From the very first till the present mo-
ment, this law has continued to give us
deficiency of revenue. From August, 1894,
till July %, '96, the aggregate of such de-
fclency was sol, 7S1, 1S9, or monthly aver
age of So, 500, 1873. Add to this the de6cien-
CIV of revenue that occurred from the none
tary crisis and Industrial disturbances of
1898 and 1884, under the Mckinley law, and
the aggregate of the deficiency during
Cleveland's administration, up to the 25th
day of July, 1896, will foot up to $151,557,-
1867 At the very time when the Wilson bill
was put on its final passage, there was a
deficiency of upwards of $60,000,00O. And
at that time, in view of the depressing in
dustrial situation, instead of passing bill
reducing
been passed providing for moderate in
crease so as to overcome the deficiency and
leave the government with ample resources
for running expenses and for unforeseen
and extraordinary contingencies. Was
there ever greater political iafatuation and
ShortSightedneSs manifested by legislative
body than that manifested by the house of
representatives of the Fifty-third congress
in passing at that time and under those
conditions the original Wilson bill? Had
that bill not been greatly improved and
amended in the senate by the joint efforts
of Republicans and conservative Democrats.
the treasury would have found itself in a
chronic state of bankruptcy. AS it is, it
has been. as we all know, a great borrower.
1t was this deficiency of revenue. perma-
nent and continuing reinforced by the
threatening shadow of silver monomctal-
lism, that led to the large Withdrawals Of
gold in 1894, 1895 and 1896, and to the in
crease of our interest-bearing national debt
to the extent of 1862 329, $50. In weak
and depleted treasury, the financial world
saw the
Specter of Silver MOnOmeta11ism,
and hence gold was withdrawn, not only
for the liquidation of international trade
balances. but also for purposes Of hoard-
Ing, and for purposes of absorbing American
securities of frightened foreign investors,
suddenly thrown on our markets. Had our
treasury been as full and czerdoWing from
1893 till the present time us 1t was from
the time Of specie resumption, in 1879, till
1893, there would, in all probability, rot
have been a greater degree Of gold with
drawal since 1892 than there was prior 70
that time especially as the proportion
of silver tc gold has not been on the In
crease since 1893. when the forced purchase
of silver was abandoned.
From July l, 1879, till July l, 1882, there
was surplus revenue amounting in the
O. 4 mn mol
average of $S1.245, 451; and during this pc
Rod the aggregate gold withdrawal
was only $43, 310,S96 From July l.
1892, till July /, 1896, there was
an aggregate deficiency of $136,3O9,O32
or an annual average OF S34,O 17,263; ana
during this period the aggregate withdrawal
Of gold from the treasury was $3.50, OO0, 600. !
Whatever relief could have been expected
from the repeal of the compulsory silver
purchase law was more than neutral1zed
by undue tariff legislation and couse-
quent deficiency of revenue
In 1892 the Democratic party appealed
to the American PEOPLE for their support
and promised them if placed in lower
tariff reform, better times and better and
more economical folm of government me
Republican party warned the people ind
told them, that from its very texture and
make up the Democratic party was ineom- ,
petent 10 give the people wholesome
ana SaIe IHGL lH0AA PAoIAA
Used tariff reform was snare ana a de-
lusion, and would le3d to industrial disaster
for both capital and labor, and that tmes, |
instead of becoming better, would be uch
worse and far more burdensome and try
ing. But the warning was disregarded, anC
the appeal of the Democracy was needed
and found favor The people took he party
at it's word, and Cleveland was clrtted
president with house of representatives
in full harmony with his views.
How have the promises OF the Demo
cratic party been kept? They have given !
us far, very far. from better or more
economic administration. They have given
us their tariff reform, with Il big treasury
deficiency They have given us a cur
rency famine, and a large increase OF the
public debt, And they have brought US
such an industrial disturbance and stagna-
tion as was never known under Repuph-
can rule nor since the earlier days or the
republic Capital has been paralyzed or
driven into hiding, and labor has stood
waiting by the wayside or been on the
tramp. The Democratic iiusians, at least I
of the past, are now dispelled. w can now
all see and many of us feel the blunder
of 1892 But what of to-day? The people |
were fooled with promised tariff reform in !
1892 Can the Democratic party, with
their allies, the Populists, fool the people |
with free silver in 1896? The distress
arising from the mistake of 1892 is now
relied upon to further and promote the
silver scheme of 1896.
stFrom Purgatory to Hades" is the Dem
ocratic guideboard of to-day. We de-
mand'' SO the new Democratic gospel of to-
day reads, 1.-The free and unlimited coinage
of both gold and silver at the present legal
ratio Of 16 to 1, without waiting for the
aid or consent of any other nation. We
demand that the standard silver dollar
shall be full legal lender, equally with T
gold, for all debts, public or private" The
second of these demands is a
Pure Fraud and Deception,
Intended to fool the people and make them /
eager for the free coinage of silver. The
silver dollar is to-day and ever
since 1873 has been a full legal tender in
any amount for all debts, public and pri-
vate. 1t is not only legal tender but
the great aim of the Republican party is
and has been to make it as good and as
a tender to all intents and pur-