Daily Kennebec journal., 1896-07-15

tion has been borrowing money to pay
the expenses of the government.
IL WAS easy to see that IL We hoisted the
gates OF free trace, or cut our import
duties down below the protecting point.
foreign goods would flow i nto our
country as they dd in the free trade
days of the confederation. stop our in
dustries. drive our working men into
idleness, curtail the market for our far
ners. send our money abroad to buy
goods which ought to be made and paid
for here. and deplete our revenues.
The people We're deceived by false prom
iscs. They took the word of the Demo-
cratic party, and the result has been
disaster in every direction. Do we want
the disaster continued and made worse?
If not what is the most sensible course TO
pursue? Why. surely 1t is to revert to
that policy and put in power that party
which gave us unparalleled prosperity.
We must consider that the earning pow
er of the people is of first consequence.
the Democrats never even discuss il.
They talk alone of cheapness. What does
any one care for the price of an article
if Inc has no money and can earn none to
buy it. protective tariff which shall
prevent foreign goods made by cheap la
hor from coming freely into our market.
and taking the place of our own products.
VIII give our working men something TO
do and fair wages. They will then have
the power to buy. In them the farmer
and trader will lind good customers, all
our industries Will he Quickcnvd. we Will
produce for ourselves what we consume,
our money will he kept at home we shall
then have Il sufficient circulating medi-
um. the balance of trade will he with us
as ii has always been under Republican
rule and never under Democratic rule
since 1886. and We will become Il debt pay
ing instead OF debt making people.
But | see that Democracy in certain
parts of the country. is making as bril-
liant and dclusiVe promises to the people
of the benefits which they will confer
did with free trade. What will it give
you gentlemen? 1t won't open the doors
of a factory. 1t will not start the fires
in furnace. 1t won't sell Il cord of lum-
Der. or Ii pound of wool, or a bushel Of
potatoes, or furnish days labor. except
possibly in the silver mines.
IL thousand millions of silver or gold
were issued neither you nor l could have
a cent of 1t. unless we paid for il in other
money or products or labor. There is no
dearth of money in the country. The
trouble is that it does not circulate. 1t
will not circulate unless people do busi-
ness 10 call it out of its hiding places.
People Will not do business in this
country unless they can sell what their
business produces and they cannot do
that. While through the influence of DEM
ocratic free trade. we buy our commod-
itieS across the water and not here.
Had we retained the Mckinley law We
should have produced here by our labor
the millions upon millions of dollars
worth of woolens which we are hiring
foreigners to make for us and import into
our country. We should be producing the
enormous amount of wool that We are inn
porting from Australia and other foreign
countries. Maine instead of Canada lum-
Der would be now furnishing our lumber
markets. Everything that the farmers
raise almost would be bringing the prices
iron, and our idle workmcn would be
earning money and paying ii out for
much better living than they are now
able to get.
This would keep our money at home. 1t
is strange that our free silver men who
are not silver producers, and wish only to
increase our currency, should never con-
sider. the fact that protective tariff by
causing the employment of our own peo-
pie to do our work and develop our re-
sources and the consequent payment of
our money out here instead of abroad.
would do more to keep up the volume of
our circulating medium than any new is
sue of money. We may as well try TO fill
our pockets while there is big hole in
the bottom. AS endeavor to keep a large
volume of currency at home when we buy
abroad instead of producing here what we
consume and it is equally true that no
scheme of finance can be devised which
will make the nation rich or fill the vaults
of the treasury except by borrowing. so
long as we purchase abroad more than
we produce to sell. When we buy abroad
we add no wealth to the country. When
we pay our own people to produce for us
we have both the product and the money
at home, and so increase our material
wealth.
What we most Want is n stable cur
rency. Business men want to know what
kind of medium of exchange they are to
use-what its value is to be-and work.
ing men and farmers want to know the
character of the money in which they
are to be paid.
One great danger of establishing a sill
yer basis is that our credit abroad would
be destroyed. our sextuities would be re-
turned for paymcht, Ufsis.gold would go
out of the country aAyi Tour currency
would be seriously teuttacted. We are
debtor nation. and the debtor must have
good credit or stop business. The creditor
has no use for credit
1t will be well for those who think they