Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-08-28

III IS essential CnaC you 6nOul0 prdCGlCalAy
bear in mind that toward the payment Of
debts there must be revenue; that to have
revenue there must be taxes; that no tax
es can be devised which are more or lesf
inconvenient or unpleasant; that the In
trinsic embarrassment inseparable from
!! the selection Of proper objects (Which IL
always choice Of difficulties) ought tc
be decisive motive for construction Of
the conduct of the government making
it, and for q spirit of acquiescence In the
measures for obtaining revenue which the
exigencies may at any time dictate"
Animated by like sentiments the people
of the country must now face the condi'
tions which beset them. ''The public
exigencics" demand prompt protective
legislation which will avoid the accumu-
lation of further debt by providing AIDE.
quate revenues for the expenses of the
government. This is manifestly the re-
quirement of duty. If elected president
of the United States it will be my aim to
vigorously promote this object and give
that ample encouragement to the occupa-
tons of the American people which,
above all else, is so imperatively de-
manded at this juncture of our national
affairs
Our Condition in December, 1892.
In December, 1892, President Harrison
sent his last message to congress-. 1t was
an able and exhaustive review of the con.
dition and resources of the country. 1t
stated our situation so accurately that
am sure it win not be amiss to recite his
official and valuable testimony.
"There never has been time in our his
tory" said he, "when work was so abund-
ant, or when wages were so high, whether
measured by the currency in which they
are paid or by their power to supply
the necessaries and comforts of life. The
general average Of prices has been such
as to give to agriculture fair participa-
ton in the general prosperity. The new
Industrial plants established since Oct. 6,
1890, and up to Oct. %, 1892, number 345,
and the extensions Of existing plants, 10S.
The new capital invested amounts to $780,
446, $50 and the number of additional en-
ployes 1895. During the first six months
of the present calendar year 135 new fac
tories were built, of which 40 were cotton
mills, 4s knitting mills, 26 wooden mills,
Is silk mills, 4 plush mills and 2 linen
mills. OF the 40 cotton mills, 81 have been
built in the Southern states.
This fairly describes the happy condition
of the country in December, 1892. What
has it been since, and what is it nowr
Our Condition Eight Months Later.
The messages of President Cleveland
from the beginning of his second admins
tration to the present time abound with
descriptions Of the deplorable industrial
and financial situation Of the country.
While no report to history or official state
ment is required to advise us Of the pres
emit condition and that which has prevailed
during the past three years, venture to
quote from President Cleveland's first
message, Aug. 8, 1893, addressed to the
Fifty third congress-, which he called to-
gether in extraordinary session:
'The existence of an alarming and ex-
traordinary business situation" said he,
''involving the welfare and prosperity of
all our people, has constrained me to call
together in extra session the peoples rep
resentatives in congress to the end, through
the wise and patriotic exercise Of legisla-
tive duties with which they solely are
charged, the present evils may be miti-
gated and dangers threatening the
future may be averted. Our unfortunate
financial plight is not the result
of untoward events, nor of conditions re-
lated to our natural resources. Nor is 1t
traceable to any of the Affections which
frequently check national growth and
prosperity. With plenteous crops, with
abundant promise of remunerative pro-
duction and manufacture, with unusual
invitation to safe Investment, and with
satisfactory assurances to business enter
prises, suddenly financial distrust and
fear have sprung up on every side. Nu-
raerous monied institutions have sus-
pended, because abundant assets were not
Immediately available to meet the de-
mands of frightened depositors. Surviv-
ing corporations and individuals are con.
tent to keep in hand the money they are
usually anxious to loan, and those en-
Raged 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"
The Cause Of the Change.
What startling and sudden change
within the short period of eight months,
from December, 1892, to August, 1858.
w hat naQ OCCuTTeu! "A Cndn8o OF ADMIN
istration; oil branches of the government
had been entrusted to the Democratic
party, which was committed against the
protective policy that had prevailed unin.
terruptedly for more than 80 years and
brought unexampled prosperity to the
country, and firmly pledged to its com.
plete overthrow and the substitution of q
tariff for revenue only. The change hav.
ing been decreed by the elections in No
vember, it's effects were at once antici-
pated and felt. We cannot close our eyes
to these altered conditions, nor would 1t
be wise to exclude from contem.
plation and investigation the causes
which produced them. They are
facts which we can not as a
people disregard, and we can only hope to
improve our present condition by study
of their causes. In December, 1892, we
had the same currency and practically the
same volume of currency that we have
now. It aggregated in 1892 S2,372, sos, sol,
in 1893 s., 1923 OOO, 900, in 1894 e. s2S ~, s6e
ord in December 1SQS n 1Q4 600 go The