Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-08-27

|
experiencing thu effe:t OF partial free
/ traae. The one must be averted; ,hs
other uorroc.ed The Republican party is
wesidei To the doctrine OF protection ami
| was never more earnest in its support and
. advocacy than new. II argument we're
needed To strengthen its devotion to the
American system or increase the hold of
that system upon the party and people it
Is found in the lesson and experience Of
| the past three years Men realize in their
! own daily lives what before was to many
e! them only report. history or tradition.
They have mad trial OF both systems and
| know what each has done for them
Washington, in his farewell address
Sept. l., 1873, 100 years ago said: LAS u
| very important source of strength and Sc
curity cherish public credit. Ore method
method OF preserving ii is TO use it as spar
ingiy as possible; avoiding the accumula-
ton OF debt, not only by stunning occa-
sions OF expense. but by vigorous exer-
! lions in time uf peac. To discharge the
debts which unavoidable wars may have
! Occasioned, not ungenerously throwing
npon posterity the burden which We our
| selves ought to bear.
| To facilitate the enforcement of the
! M. yiins which he announced he declared:
J
/. bear in mind that toward the payment OF
| debts there must b. revenue; that to have
F, revenue there must be taxes; that no taxes
can be devised which are not more or less
! announcement or unpleasant; that the in
1 trinsic cmbarra ssmcnt inseparable from
| the selection of proper objects (Which is
| always choice of diificulties) ought to be
Il decisive motive for n candid construc-
! ton of the conduct OF The government in
Eiaking It. and for spirit of acq,liescence
| in the measures for obtaining revenue
which the public exigcncics may at any
F! time dictate. Animated by like senti-
ments the people of the country must now
| face the conditions which beset them The
| public exigcncics'' demand prompt pro-
tcc,ive le.,i>lat on which will avoid the
accumulation OF further debt by provid-
| ing adequat revenues for the expenses of
| the government. This is manifestly the
| requirement. of duty. If elected president
| Of the United : ates il will he my aim to
| vigorously promote this object and give
| tha, ample Encouragement to the occupa-
tioh> of the AIneri an 'p-ople which,
| above all Sc. is imperatively de
! m'nded at This juncture OF our national
| affairs.
| In December ls:.a President Harrison
! ssEt his last message to Congress. 1t was
, diti3n and resources of the country 1t
| stated OR situation so accurately that l
| am sure ii will not be amisS to recta his
| official and valuable testimony. There
| never has been u time in our history he
| said, when work was abundant or
| when wages were so high, whether meas
! urcd hy The currency in which they are
! paid or by their power to supply the neces
sarias ard comforts of life. The general
average of prices has been such as to give
To asricnltu- n fair participation in the
general prosperity. The new industrial
| plants established since Oct. g. 1890, and
up to Oct ~. 1892. nam Der 3I5 and the ex-
tension of existing plants los. The new
capital inveatci amounts to $40, 446, 900,
! and the number of additional employes
| 80. during The first six months of the
present calendar year l35 new factories
We're built. Of which 10 were cotto: mills.
IS knitting mills, 70 WOODEN mills, - silk
! mills, plush mills and linen mills OF
| the 10 cotton mills Il have been built in
! the southern states. This fairly describes
| the happy condition Of the country in De
| ccmber. 1872. What has it been since. and
| what is il now?
| The messages of President Cleveland
! from the beginning Of his second admins
! ti'ation to the present me abound with
| descriptions of the deplorable industrial
| and financial situation of the country
While no resort To history or official state
| nent is required to advise us of the pres
! ent condition ana that which has prevail
ed during The past three wears | venture
| TO quote from Presiden: Cieveland's first
message. Aug. s, 1873. addressed to the
| Ffty-third congress, which he had called
! together in extraordinary session The
| existence OF an alarming and extraordiu-
| AIRY business situation, said he. ''involy-
! ing the welfare and prosperity of all our
: people. has constrained me to call together
! in extra session the peoples representa-
/ ,iveS in congress to the end that through
/ the wise and patriotic exercise IF the leg
islativc duties with which they solely are
charged the present evils may be miti-
! gated and dangers threatening the future
I may be aVcrtcd Our unfortunate finan-
: cal plight Is not the result of untOward
events, nor of conditions related to our
natural resources. Nor is it traceable to
! any of the Affections which frequently
check national growth and prosperity.
With pleEteous crops. with abundant
! promise OF remuner;.ticc production
, and manufacture with unusual invita-
: ton To safe investment, and with salts
| factory assurances to business enter
: rrises. suddenly financial distrust and
lear nave sprung up on every side.
, Numerous Eonied institutions have
, suspended because abundant assets
. were not Immediately available to meet
the demands of frightened depositors.
. surviving corporations and individuals
are conten. to keep in hand the mon
ey they are usually anxious to loan.
: ard those engaged in legitimate bust
= ness are surprised 10 find that the Sc
cuftties they offer for loans, though
. heretofore satisfactory. are no longer
. accepted. Values supposed to be fixed
are last becoming conjectural and loss
ana iaiiGre have invaded every branch
of business.
WHY THIS SUDDEN CHANGE