The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-08-31

only nope 20 improve our present conoI-
ton by a study Of their causes.
In december, 1892. we had the same
currency and practically the same vol
ume of currency that we have now. IL
aggregated In 1892. s2.S72.5ss SOL. In
1893, s.. 323, 900. 600; In 1884. s2.SZS'442.
362. and In December. 1895. sz.lsi,OVO.'
2sO. The per capita of money has been
practically the same during this whole
period The quality OF the money hap
been identical-all kept equal TO goio'
There IL nothing connected win our
money, therefore. 10 account Tor TINS
sudden and aggravated Industrial
change Whatever is to be deprecated
I'm our financial system IL must every
where be admitted that our money has |
been absolutely safe and has brought |
neither loss nor inconvenience TO its |
holders A deprecated currency has
not existed to further vex the troubled
business situation. IL Is mere pre-
tense TO attribute the hard times TO the
fact that all our currency is on gold
basis Good money never made times
hard Those who assert that our pres
ent Industrial and financial depression
| IL the result of the gold standard nave
| not read American history aright' or
| been careful students OF the events or
recent years. We never had greater
| prosperity in this country. in every
| field of employment and industry. than
| I'm the busy years from 1880 TO 1892, dur
| ing all of which time this country was
on a gold basis and employed more
gold money I'm its fiscal and business
| operations than ever before
We had, too, a protective tariff under
| which ample revenues were collected Tor
the government, and an accommodating
surplus which was constantly applied to
the payment OF the public debt Let us
hold fast to that which we know Is good.
1t is not more money we want; what we
want Is to put the money we already have
at work. When money Is employed men
are employed. Both have always been
steadily and remuneratively engaged dur
ing all the years of protective tarin legis-
lation 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 restore public confidence by an
act which would revolutioniZe all values
or an act VIII CHI en- ails deficiency In the
| public revenues. We cannot inspire con
fidence by advocating reputation or prac
ticing dishonesty. We cannot restore con
s fidence, either to the treasury or TO the
people, without a change in our present
! tariff legislation.
a The only measure of general mature
8 that affected the treasury and the employ
Q ment of our people passed by the Fifty
: third congress was the general tariff act
n which did not receive the approval OF tn
e president. Whatever virtues may D.
% claimed for that act there Is confessedl.
y one which IL does not possess. Ii lacks tn
l. | essential virtue If its creation-the raising
W of revenue sufficient to supply the need
10 of the government. 1t has at no time pre-
D. yided enough revenue for such needs, bu
10 Il has caused a constant deficiency in tn
Il treasury and a steady depletion in tn
of earnings of labor and land. 1t has col
10 tributed to swell our nationai debt moi
NJ than $262, 900, 900, a sum nearly as great
10 the debt Of the government from Wasi
70 ington 10 Notwithstanding all our 10
u eiQn wars from the revolution TO the r
n, bellion. Since its passage work at hon
Ie. has been diminished; prices OF agricu
al tural products have fallen; confidence HI
been arrested, and general business q
Oh moralization is seen on every hand.
as The total receipts under the tariff act
IN 1894 for the first twenty-five months Of
~ enforcement, from September, 1894,
June. 1896, were s557, 6l5,32S and the e
lis penditures $640, Assoc, or n deficiency
re So, SOB, O35 The decrease in our expor
ne of American products and maauiactur
or during the fl st fifteen months of the pre-
rs ent tariff, as contrasted with the cxpor
ire of the first fifteen months of the tariff
es, $780, was SEQ, 353, 800 The excess OF c
RAJ ports over imports during the first lite,
I've months of the tariff of 1890 was S2l3g1
nc 96s but only s56, 75S, 623 under the first
lal teen months of the tariff # 1894, a IL
no under the latter of sl57, 2l4,3i5 The r
ex- loss in the trade balance of the Unit
ew States has been sl9e, .607 during the I'll
'oo, fifteen months operation of the tariff
yes 1894 as compared with the first hfte
the months of the tariff of 1890. The loss
les been large, constant and steady, at I
us, rate Of sl3, 1870 600 per month, or s5oO,'
als for every business day of the year.