The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1896-08-27
Proteotlnn of snnrnme Imnnrtnncn.

Is menace to be feared; we are already
experiencing the effect of partial free
trade. The one must be averted; the
other corrected. The Republican party is
welded TO the doctrine of protection and
was never more earnest in its support and
advocacy than now. If argument were
needed to strengthen its devotion to "the
American system" or increase the hold of
that system upon the purity and people. il
is found in the lesson and experience of
the past three years. Men realize in their
own daily lives what before was to many
of them only report, history or tradition.
They have had a trial Of both systems and
know what each has done for them.
Washington, in his farewell address,
Sept. II, 1895, hundred years ago, said
"As very important source of strength
and security, cherish public credit One
method Of preserving it is to use it as
sparingly as possible, avoiding the accu-
mutation Of debt, not only by stunning
occasions of expense, but by vigorous ex-
erGions In time Of peace to discharge tho
uebts which unavoidable wars may have
occasioned, not ungenerously throwing
upon posterity tho burden which we our
selves ought TO bear
maxims which he announced he declared, !,
"It Ia essential that you should bear in
mind, that towards the payment of debts
there must be revenue; that to have reve-
nue. there must be taxes that no taxes
can be devised which are not more or less
inconvenient or unpleasant that the in
trinsic embarrassment inseparable from
the selection of the proper objects (Which
is always a choice Of diffioulties) ought to
be decisive motive for candid construc-
ton Of the conduct of the government in
making 10; and for a spirit of acquiesence
in the measures for obtaining revenue
which the public exigencies may ut any
time dictate"
Animated by like sentiments the people
of the country must now face the condi-
ti0ns which beset them. "rhe public exi-
gencies' demand prompt protective legis-
lation which will avoid the accumulation
of further debt by providing adequate
revenues for the expenses of the govern
ment This is manifestly the requirement
of duty If elected president of the United
States it will be my aim to vigorously pro-
mote this object and give that ample en-
couragement to the occupations of the
American people which, above all else, is
so imperatively demanded at this iuncture
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 l
am sure it will not be amiss to recite his
official and valuable testimony
There never has been a time in our
history" said he, ''when work was so
abundant, 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. On the general average prices have
been such as to give TO agriculture a
fair participation in the general pros
perity. The new industrial plants, es-
tablished since Oct. g. 1890, and up to
Oct. p, 1892, number 3i5, and the ex-
tension of existing plants, l0S. The new
capital invested amounts to $40 446, ,060, and
the number of additional employees, 37,255.
During the first six months of the pres
ent calendar year 1876 new factories were
built, of which 40 were cotton mills, 4S knit
ting mills, 26 wooden mills 10 silk mills,
plush mills and 2 linen mills OF the 40
cotton mills 2l have been built in the
southern states. This fairly describes the
happy condition of the country in De-
cember, 1898. What has it been since, and
what is it now2
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 resort to history or official state
ment is required to advise US Of the pres
ent condition, and that which has pre-
vailed during the past three years, | ven
ture to quote from President Cleveland 5
first message, Aug 8, 1898, addressed to
the hifty-third congress, which he called
together 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 that
through the wise and patriotic exercise of
the Legislative duties with which they
solely are charged the present evils may
be mitigated and dangers threateni ng the
future averted. Our unfortunate fnan-
cial plight Is not the result of untoward
events, nor of conditions related to our
natural resources. Nor is it trnceable to
any Of the Affections which frequently
check national growth and prosperity
With plenteous crops, with abundant
promise of remunerative production and
manufacture, with unusual invitation to
safe Investment, ana with satisfactory
assurances to business enterprises, sud
den financial distrust and fear have
sprung up on every side.
Numerous moneyed institutions have
suspended 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 engaged
in legitimate business are surprised 20 ind
that the securities they offer for loans,
though heretofore satisfactory, are no lon
ger accepted Values supposed to be fixed
are fast becoming onjectural and loss and
failure have invaded every branch of busi-
ness"
The Cause of the Change.
What startling and sudden change
within the short period of eight months,