Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1896-08-08

During nine of these fifteen years the
trend of the gold movement was in our
favor. and during only two of the remain.
ing six years-that Is to say. in 1889 and
lS9l-was the outward movement large
enough To attract attention. In 1889
there were large importations under the
tarlff OF 1883 for the purpose of antici-
pating the increased duties of the Nc
kinlcy bill. and this caused an outward
fluN of gold in payment. In 1891 the ex-
traordinary outflow arose largely because
OF the Barring failure. which caught i'm
its crash many foreign holders of Ameri-
can securities, who, being pinched for
ready money. had To return some of those
securities 10 this country fror redemption.
hese explanations are ample To recount
Tor the exceptional exports which char
actCrlzed two of the years of the Harri.
son administration when the revenues Of
the country were upon a highly protective
OASIS. ADDING imports together and com
paring results for the fifteen years i'm
question we find that the aggregate i'm
ports OF gold exceeded the aggregate ex-
ports TO the amount of Slul. J6S 40.
During this period the national debt was
reduced from S2,3i9,JG ,23204 in 1879 to
S.I'Jo6.tl2,1I1.G3 in 1872, "a total reduc-
tion of $3.50 J4, 776.41.
Now let us turn 10 the years from 1Sg3
to 1896, when tariff reform held the
boards:
1893. Exports SS7 5oe .c2
iS1i' Exports ............... 4.J2S. a42
go Exports .......r........ 3O,9Si.4I9
loV"' EXPLOITS '.'............ 7l,5ll, %
'Eleven months ended May 81.
Here we have a total loss of gold dur.
ing me short era Of Democratic tariff
reform" of S197, 531, LOG. or a net loss in
four years of S95,962,916 over the net
gain accumulated during the Drecedin,
htteen years. During these same disas.
trous four years of Wilson-Gormon tar.
III reform. the national debt has been i'm.
creased in principal $500, $50. and in
interest yet TO be paid almost S2JO.OO0.-
wv or over SJ~OO,UOo,OOO ia all. Had
the voters of the United States not heed.
ed the false arguments of Democracy i'm
lS92 the national debt. instead of being
increased IN principal and interest over
hall a billion dollars in the Intervening
four years. would. at the same rate Of
decrease which prevailed from 1875 10
lS92, have been lowered TO the extent of
S224,o5S,5OI.3 81. and instead Of a loss of
Sl3I ,o31 JOG through gold exports we
should, at the ratio Of the preceding ff.
teen Republican years, have had a net
gain through imports amounting i'm the
four years TO S27, 0S5, 012. Recapitulat.
ing these losses. and not saying ANYTHING
OF the tremendous personal losses infict-
ed by the tariff reform" experiment
upoh all CldsSeS OF american CltlZpnS-
for these in the aggregate are obviously
observation-disclosures find that the change of
1892 from Mckinley protection to vii
sOn-Gorman free trade has cost the gov
eminent of the Emitted States directly. i'm
its finances, not less than S949.1 ia
625,32, a conclusion reached as follows:
Loss of gold through actual
export SI97 .a31. log 90
Loss of gold through what
would have been imported
had the Republican ratio
from 1878 to 1892 obtained
from 1892 TO s96.....:..... 27.Os5, Ol2. 90
Loss through increase In ma
tional debt ............... 500 600 100 o
Loss through what would
have been the reduction OF
debt had the Republican ra-
ito of debt reduction which
prevailed from 1879 to 1892
prevailed also from 1S92 to
1896 22I.55s. 507.3 80
Total loss 1919, l74.625.s2
This loss has nothing to do with the
question whether a gold or a silver
standard is the better. 1t is a direct
fruit of the Democracy's unwise agita.
ton against projections; a palpable dem
that the tariff is emphatically
an issue in this campaign.-Scranton
lpa \ rihun