The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-27

Il-ll1lSE loss nor lllSOdlN SiAlSliSc " us
holders. A deprecated currency has
not existed to further vex the troubled
business situation
{ GOOD MONEY NEVER MADE HARD
TIMES.
1t is a. mere pretense to attribute the
hard times to the fact that all our cur
rency is on a gold basis. Good money
never made times hard. Those who
assert that our present industrial and
financial depression is the result of the
god standard, have not read Ameri-
can history Alright, or been careful stu
dents of the events OF recent years. We
never had greater prosperity in this
country, in every field of employment
and industry, than in the busy years
from 1880 to 1892, during all of which
time this country was on a gold basis,
and employed more gold money in its
financial and business operations than
ever before We had, too, a protective
tariff, under which ample revenues
were collected for the government, and
an accommodating surplus which was
constantly applied to the payment of
the rublic debt Let us hold fast to
that which we know is good. II is not
more money we want; what we want is
10 put the money we already have at
work. When money is employed, men
are employed. Both have always been
steadily and remuneratively engaged
during the years OF protective taIln
/ legislation When those who have
money lack confidence in the stability
of values and investments, they will not
part with their money. Business Is
stagnated. The life blood of trade IS
checked and congested. We cannot re
store the public confidence by an act
which would revolutionize all values,
or an act which entails a deficiency IN
the public revenues. We cannot INSPIRE
confidence by advocating reputation or
practicing dishonesty We cannot re-
store confidence either TO the treasury
or to the people without a change In
our present tariff legislation.
THE TARIFF OF 1894.
The only measure of a general ma
ture that affected the treasury ana the
elnpicIyments OF our people passed by
the F'ifty-third congress was the gem
eraI tariff act. which did not receive
the approval of the president WHAT
ever virtues may be claimed for that
acf. there is confessedly one which IT
does not possess. It lacks the essential
virtue. of it's creation-the raising OF
revenue sufficient to supply the needs
of the government. 1t has at no Tune
provided enough revenue Tor such
needs, but it has caused constant oe
ficierl,cy in the treasury and a STEADY
depletion in the earnings OF l1oor allu
land. 1T has contributed to swell our
national debt more than $4,000, QUA
sn1m nearly as great as the debt OF the
government from Washington to LIN
coin. including adj OUT foreign wars
from the revolution to the repell.ou.
Since it's passage, work ait home has
been diminished, prices OF agrlcultu-
/ Il rnlsaa
raj products have fallen; commence
has been arrested, and general pusl-
ness decentralization is seen ON every
hand.
THE TARIFFS OF 1890 AND 1894 CON
TRASTED.
The total receipts under the tariff
act Of 1894 for the first twenty-five
morths of its enforcement, from sep
TENDER, 1894, to June, 1885, were $o So5 :
GI5. 32S, and the expenditures So4U. 41o'o oo'
or a deficiency of $82 ,S0S,035. The de-
crease IN our exports of American pro
/ ducts and manufactures during the
first fifteen months of the present tar
/ iff. as; contrasted with the exports OIL
the first fifteen months of the tariff OF
/ 1890. was 1920, 353, 800. The excess OF eX-
ports over imports during the first III
teen months of the tariff OF ls9O was
| S213, 972. 96S, but only $56,75S,623 UNDER the
first fifteen months OF the taflII on 1oS
a loss under the latter OF $l5i,2l4 81.
The net loss in the trade balance of the
United States has been 196,9S3,6O1 dur
ing the first fifteen months operation
of the tariff of 1894, as compared with
the first fifteen months of the tariff OIL
1850. The loss has been large, constant
and steady at the rate of SIS, ,OuV Per
month, or S5,0G0000 for every business
day of this year.
J 1iI.a1 Wa n
/ been sending too much money out Of the
country OF getting too little in. We have
4 lost steadily in both directions, our Tor
eign trade has been diminished and our
domestic trade has suffered inca1culable
! loss Does this not suggest the cause
of our, present depression and Indicate
its remedy? Confidence in home enter
prises has almost wholly disappeared:
/ Our shops are closed, or running on half
J time at reduced wages and small profit,
if non actual loss. Our men are Idle,
! and while they are idle, men abroad are
| occupied in supplying US wiah goods.
4 Our unrivalled home market has also
! greatly suffered because those who con-
stitute 1.-THE great army of American
wage earners-an without the work
and wages they formerly had. II they
cannot earn wages they cannot buy
PRODUCTS. They cannot earn II they
have no employment, and when they
don't 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 pas three years is suf-
ficient to have produced our unfortunate
business situation. Ii our labor was
well employed, and employed at as
remulerative wages as in 1892, in
few months every farmer in the land
would feel the glad change in the in
creased demand for his products and
in the. better prices which he would re-
ceive.
NOT OPEN MINIS, BUT OPEN
MILLS.
It is not an increase in the volume
of money which is the need of the
time, but an increased volume of bust
ness; not en- increase of coin, but an
increase of confidence; not more coin
age but more active use of the money
coined; not open minis for the unlim-
tied coinage of the silver OF the world
but open mills for the fu4l and unre-
strict,sd labor of American workingmen
The employment of our mlnts for the
coinage of silver would not bring the
recessaries and comforts of life back &c
our people This will only come with
the employment of the masses, and such
employment is certain to follow the re
establishment of a wise protective pol
icy, which shall encourage manufactur-
ing at home. Protection has lost none
of it's virtue and Importance. The first
duty of the Republican party, If re-
stored to power in the country, will be
the enactment of a tariff law which
will raise all the money necessary &c
conduct the government economically