Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-08-27

What n startling and sudden change
within the short period OF elght m 1g95,
What had occurTed2 A change or al
ministraton; all branches OF the govern
ment had been entrusted 10 the Deino-
cratic party which was COMMITTED agai ,nii
the protective policy that had preyalled
uninterruptedly for more than tnirty-lwo
years, and brought unexampled ptosPeIl-
ty to the country. and firmly pledged 20
it's complete overthrow. and the suDsu-
tuition OF a tariff for revenue only. ne
change having been decreed by the elec
tons in November. iss efects were at
we cannot close our eyes to these al
tered conditions, nor would II pc wise
to exclude from contemplation ana ~, ~,
tigation the causes which produced mem,
They are facts which we cannot as
people disregard, and we can only nope
to improve our present condition by a
study OF their causes. In December, lo'I'
we had the same currency and pracucdl-
u, nc seroo Volume of currency that we
have now. IL aggregated in 1892, 49,
5e950i: in 1893, 1893 ooooo0; In lssd N;55 IS,
4t2 1862 and in December, 1870 N,l9hVl ~
practically the same during this whole
peTiod. The quality Of the money mas
been idcntical-all kept equal 10 gold.
There IS nothing connected, WIN ,his s "a
don aggravated industrial change. Nnat,
ever Is to be deprecated IN our hndnelai
system IL must everywhere De humll.tH
and has brought neither loss nor neon,
yenience TO its holders. deprecated
currency has not existed to turtner NeA
the troubled business situation.
GOOD MONEY AND HARD TIMES.
I, is a mere pretence TO attribute the
hard times 70 the fact that all our cur
rencv is on a gold basis. Good money
never made times hard. Those VINO as
sort that our present Industrial ana hhail5
cial depression is the result or me S0lu
standard have rot read American MS
tory Alright. or been careful stuueHIs oi
the events OF recent years. we never hSu
greater prosperity in this country, IN
every field OF employment and lndus1tlTSo'
than I'm the busy years from leJ 10 Io5-,
during all OF which time this country
was on a gold basis. and employed n a.,r
gold money IN its fiscal ana DuslHess opo-
rations than ever before. -. -.
VS. had, too, a protective tarl1, uhIeI
which ample revenues were coAeclGu ~
the government and an accuinuii@ ms
surplus. which was constantly appIled 10
the payment Of the public debt. Let Us
hold fast to that which we know Is good
IL Is not more money we want "naC W
want is 10 put the money ,Wea,ll ISdu9{
have at work. When money Is employed
men are employed. Both have always
been steadily and remuneratively engages9s
during all the years or protective tdrll
legislation. when those VINO nave money
lack confidence in the stabnlty OF Nalue5
and investments they Will not part Win
their money. Business rs stagnated-lHe
life-blood OF trade is checked and con-
gested. We cannot restore tne puDlc
confidence by an act which would revolu-
tionize all values or an act which entalls
a deficiency in the public revenues we
cannot inspire confidence by adVocatins
population or practicing dishonesty. we
cannot restore confidence. either to the
Treasury or to the people. without
change in our present tariff legislation.
THE TARIFF OF 1884
A measure Of general nature that at
fected the Treasury and the employments
of our people passed by the fitty-thlrd
Congress was the general tariff act,
which did not receive the approval OF the
President. Whatever virtues may ne
claimed for that act, there IS cohIIessedIy
one which II does not possess: IL iach5
the essential virtue OF its creatlon-tne
raising OF revenue sufficient 10 supply
the needs Of the government IL mas az
no time provided enough revenue for such
needs but it has caused a constant dell
cheney I'm the Treasury, ana steady de-
pletiOn i'm the earnings OF labor ana iahd;
II has contributed 10 swell our hdlohal
debt more than 1852 100000. a HIm nearly
as great as the debt of the government
from Washington 70 Lincoln; lnclud'ng
an our foreign wars, from the Reyolu-
ton to the (war between the States. Since
its passage work at home has been dl-
minished, the prices OF agricultural pro-
ducts have fallen; confidence has been
arrested and general business denofaI-
izatlon IS seen on every hand.
TARIFFS CONTR AsTED.
The total receipts under the tariff act
OF 1891 for the twenty-five months OF IT'S
enforcement RON en- s,5 IN ayd tb eT "
penditures S5i0.hS,563, or deficiency OK
The decrease in our exports Of Ameri-
can products and manufactures during
the first fifteen months Of the present
tariff. as contrasted with the exports or
the first fifteen months OF the taflu OF
1890, was {22O S55,520; Inc excess az eA
ports over imports during the first hfteen
months Of the tariff OF 1850 was S2i3,12-
9eS but only &55,l5S623 under the nfst
fifteen months OF the Tar taTi Of 81, 1871 H., loss
loss in the trade-balance OF the United
States has been $l96,93, Goa during the hrst
fifteen months operation OF the tarim or
1895. as compared with the flrst nfteen
months Of the tariff of 1880. The loss has
been large. constant, and steady, az the
rate OF Sl3l30.000 per month, or $4,000
for every business day OF this year.
LOSING IN BOTH DIRECTIONS.
We have either been sending too much
money out Of the country. or getting too
little in-Or both. We have lost steadily
I'm both directions. our foreign trade has
been diminished and our domestic trade
has suffered inca9culable loss. Does not
this suggest the cause OF our present
depression, and indicate It's remedy Con-
ndence in home enterprises has already
wholly disappeared. our shops are closed [
or running on half time, at reduced wages
and small profit, If not actual loss. our
men at home are idle, and while they are
idle men abroad are occupied in supply
ing us with goods Our unrivalled nome
market for the farmer has also greatly /
suffered, because those who constitute it
the great army Of American wage
earners-are without the work and wages
they formerly had. II they cannot earn
wages they cannot buy products. They
cannot earn IL they have no employment, /
and when they do not earn, the farmers
home market Is lessened ana impaired,
and the loss is felt by both producer
and consumer The loss Of earning
power alone in this country in the Tast
three years is sufficient TO have pro-
duced our unfortunate business situation.
II our labor was well employed, and en-
ployed at as remunerative wages as In
1897. in a few months every farmer IN the
land would feel the glad change IN the
increased demand for his products. ana IN
the better prices which he would receive.
NOT OPEN MINIS. BUT OPEN MILLS.
1t Is not an increase in the volume OF |
money which IS the need OF the time,
but an increase in the volume OF business.
Not an increase Of coin, but an Increase
Of confidence. Not more coinage but
more active use OF the money coined. Not
open minis for the unlimited coinage OF
the silver OF the world, but open mills
for the full and unrestricted labor OF
American workingmen. The employment
of our minis for the coinage OF the silver
OF the world viii not bring the necessi-
ties and comforts OF life back TO our
people. This will only come with the en-
ployment OF the masses, and such employ
ment is certain TO follow the re-establish- |
ment OF a wise protective policy, which |
shall encourage manufacturing at home.
Protection has lost none Of its virtue !
and Importance. The first duty of the
Republican party, II restored 10 power
in the country, win be the enactment Of
a tariff law, which will raise all the !
money necessary 10 conduct the govern
ment. economically and honestly admins
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