The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1896-09-18

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
1S91-was the outward movement large
enough to attract attention. In 1889
there were large importations under the
tariff of 1888 for the purpose of antici-
pating the increased duties of the Nc
Kinley bill. and this caused an outward
tlux of gold in payment. In 1891 the ex-
traordinary outflow arose largely because
of the Barring failure, which caught in
its crash many foreign holders of Ameri
can. securities, who, being pinched for
ready money. had to return some of those
securities to this country fror redemption.
These explanations are ample to account
for the exceptional exports which char
acterized two of the years of the Harri-
son administration, when the revenues of
the country were upon a highly protective
basis. Adding imports together and COM
pairing results for the fifteen years in
question we find that the aggregate i'm
ports of gold exceeded the aggregate ex-
ports to the amount of $101, ,56S, 80.
During this period the national debt was
reduced from $2,349, ,567 ,232.O4 in 1879 to
$1,563, ,612.455 in 1892, total reduc-
ton of $7S5, 1854, ,776.41.
Now let us turn to the years from 1898
to 1896, when tariff reform" held the
boards:
1867 1s9S. Exports Exports ..ss7, sos 463
1895: Exports ................ 3O,9S4 449
1870" .ExDorts ................ "a, Sill ,252
sEleven months ended May 81.
Here we have a total loss of gold dur
ing the. short era of Democratic tariff
reform of $197, ,531 ,1O6, or a net loss in
four years of $95, ,962,9 over the net
gain accumulated during the preceding
fifteen years During these same disas.
trous four years of Wilson German tar
iff reform, the national debt has been in
creased in principal $3.50, 454 $50, and in
600, or over $5OO,OOO, 900 in ali. Had
the voters of the United States not heed
ed the false arguments of Democracy in
1892 the national debt, instead of being
increased in principal and interest over
half billion dollars in the intervening
four years, would, at the same rate of
decrease which prevailed from 1879 to
1892, have been lowered to the extent of
spa, DOS, ,507 30, and instead of loss of
$197 .531, 1O6 through gold exports we
should. at the ratio of the preceding fif-
teen Republican years, have had a net
gain through imports amounting in the
four years to $27 7.OS5,O12 Recapitulat-
ing these losses, and not saying anything
of the tremendous personal losses infiict-
upon all classes of American citizens
for these in the aggregate are obviously
incalcula ble-we find that the ''change of
1892 from Mckinley protection to Will
Son-Gorman free trade has cost the gov
ernment of the United States directly. in
it's finances, not less than S949. ia
625,32 a conclusion reached as follows:
Loss Of gold through actual
Loss of gold through what
would have been imported
had the Republican ratio
from 1873 to 1892 obtained
from 1892 to 1896 ..... 27 OS5 O12 OO
Loss through increase in ma
tional debt ...:;:;..:..;, 500, 900 900. 90
have been the reduction of
debt had the Republican ra-
tio of debt reduction which
prevailed from 1879 to 1892
prevailed also from 1892 to
1896 224,55s, ,507 SO
Total loss. .s949, ia, ,625 80
This loss has nothing to do with the
question whether a gold or silver
standard is the better. 1t is direct
fruit of the Democracy's uDwise agita-
ton against protection; a palpable dem
onstration that the tariff is emphatically
an issue in this campaign.-Scran nton