Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1896-07-23

IlON Ikt III AIfl i1itc ~ llit fiSi tHitt
years Aud this during IA time when we
had the FREE n UNLIMITED COINAGE or
SILVER AND FREE TRADE. FREE SILVER
BID @ THEN PREVENT DISASTER WHEN
THE PROTECTIVE TARIFF WAS REPEALED,
NEITHER COULD IT NOW. In 1924, the
people became dissatisfied with the free
trade tariff OF 1916 to 1924 aud enacted
Ia protective tariff, which in one form or
another was continued until 1888. Dur
ing this period, 1924 to 1888, we had
free coinage oil silver AND A PROTECTIVE
TARIFF. What was the condition OF the
country during this protective period +?
President Andrew Jackson, in his mes
sage to congress in December, 1882, says
OF the result OF this tariff of 1924 and
1929,
"Our country presents on every hand marks
of prosperity and happiness, ~unequalled per-
haps in the world"
Webster says sn regard to the result OF
this protective tariff:
That the relief was profound and general,
reaching all classes-the farmer, the manufact-
urer. the ship builder, the merchant aud the
day laborsr.h
Henry Clay says OF this period in a
speech in congress in 1882
extended, the arts fourishing. the face of the
country improved. our people fully aud profit
ably employed, the public countenancee exhibit
ing tranquility, c~ontentment, and happiness /;
ats public debt of two wars nearly redeemed (;
and to crown all, the public treasury overflow
ang. III the term of seven years was to be
selected of the greatest prosperity which this
people have enjoyed since the establishment
of their constitution, it would be exactly that
period of seven years which Immediately fol-
lowed the passage of the tariff of 1924"
Again we see that the change from a
FREE TARIFF TO A PROTECTIVE
m rr,r ..n.,- aAu ....a.
change from the business depression OF
the years 1916 to 1924, to the unexcelled
prosperity of the period from 1924 to
1898. In 1888, the protective tariff was
repealed and a free trade toriff bin pass
ed, free coinage remaining unchanged.
What vas the result? Financial depres-
SION soon followed, even worse than that
OF lS16 to 1924. The panic same quick
~ and few We're able TO save themselves
from financial ruin. Property sold at
%ruinouslv low prices and money went
out of circulation, so that people having
an abundance OF property to sell lost
their property at tax sale because they
could not dispose OF il for cash. Cotton,
in his Life OF Henry Clay" says Of this
period
ssIn some parts of Pennsylvania the people
were obliged TO divide bank notes into halves.
quarters, eighths, and SO on, and agree from
necessity to use them as money. In Ohio, with
all her abundance. it was hard to get money to
,ay taxes. The sheriff of M~uskingum County,
as stated by the Guernesy Times, in the summer
Of 1872 sold at auction one four horse wagon at
ssaid to be Worth $50 to $75) at IL each, two
cows at 81 each. a barrel of sugar at $3.50, a
store OF goods at the same rate. In Pike Coun-
ty,, Missouri, As stated by the Hannibal Jour
each, one large OK atl2n cents, two steers and
one calf, the lot $3.25, % sheep at 1874 cents
each. "a hogs the lot at = cents each, one eight
heads at s., three stacks OF hay at ~ cents
each, and one stack of fodder ut 2. cents. The
loss to the country is estimated at 81 0ooOo,O0O;
caused by shriakage in prices. The Rational
treasury was bankrupt, the revenue fell OF %
per cent, and the government was obliged to
borrow money at a high rate of interest to pay
current expenses.
This during the free and unlimited
coinage OF silver but under a free trade
tariff The same experience which we
have had under the same kind OF IA tariff.
Do you doubt that the free trade tariff
was the cause OF this lit could not
have been the money question as no
change had been made in the money
stamford. Ii you still doubt, let us see
what a return to a protective tariff did.
In 1912, a protective tariff was adopted
and continued in lorce till 1916. What
was the result ? Confidence was restored
and custom receipts increased the first
year (1S43) - per cent over the last
year OF the free trade period. Carey says
Of this period
"After four years of real prosperity under
this tariff of 1872, how great was the change
Labor was everywhere in demand. Planters
had largo crops and the domestic market was
growing with a rapidity that promised better
prices. The produce Of the farm was in de-
mand and prices had risen. The consumption
eJfeoal. iron, wool, and cotton and WOODEN
cloth was immense aud rapidly iucreasing,
while prices were falling because Of the rapidly
improving character of the machinery OF pro-
duction. Production Of every kind was i'm
monse, and commerce, internal and external,
were growing with u~nexampled rapidlty. Ship
ping was in demand, and ITS quantity was
being augmented at a rate never before known.
Roads and canals were productive. Corpora
tions had been resuscitated, and states had re-
commenced payment and the credit OF the
Union was so high tlat the same persons that
had villiiied the people and the government Of
the Union-under the tariff free trade tariff
OF 1883 were now anxious to secure their Gus
tom on almost any terms. The improvement
was so positive and decided that President
Polk, a democrat and a free trader, in his an
nual message to congress in 1916, said Labor
in all it's branches is receiving an ample re-
ward; while education science, and the arts
are rapidly charging the means OF socisl haDpI-
ness. The progress OF our country IN her ca
reer of greatness, not only in the vast extension
of her territorial limits, and in the rapid in
crease of our population, but in resource and
wealth and in the happy condition oil our PEG.
pie is without an example in the history OF
nations
Do YOU still doubt? Let us proceed.
In 1916, a free trade tariff was again
adopted which remaindd in force until
1861 free and unlimited coinage OF silver
still continuing and what was the re-
snlt ? Business depression, unemployed
workmen, no sale Tor the products OF the
farm, a contraction OF the circulating
medium. and general disaster. On Dec.
1S, 1854, the New York Tribune pub
lished a collection OF facts which showed
the dreary and prospectiyely desperate
condition Of industry and commerce.. 1t
showed that our manufacturing indus
tries had been utterly ruined through the
free trade tariff Of 1916; that our people
had been brought to the verge OF starva-
ton, and that in every occupation and
branch OF business the depression was so
terrible that more than one-hali of all
employees had been thrown out oil EN-
ployment. That there was no sale Tor
the produce OF the farm that money
was SO scarce and employment SO hard
to obtain that the people were unable to