The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1896-08-19

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
lo9l.Was the outward movement large
enough to attract attention. In 1889
there were large importations under the
tariff OF 1883 for the purpose of antici-
patlng the increased duties of the Nc
Hlnley bill, and this caused an outward
lux OF gold in payment. In 1891 the ex-
traordinary outflow arose largely because
OF the Barring failure, which caught in
It's 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.
!heSe explanations are ample to account
Tor the exceptional exports which char
acterlzed 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 SOL ,56S, 80.
During this period the national debt was
REDUCED from So, 349, ST., 232O4 in 1879 to
$I,oo5 ,6d2455:6 in 1892, total reduc-
ton of $7S5, 954, 77641.
Now let us turn to the years from 1899
TO 1886, when tariff REFORM held the
boards:
1873. Exports ..........sS 7 5O6 AGA
! 1871 'EAports .................. 4,52S, 942
1909: Eport ''................ ~ 9S4, 449
ELEVEN months ended May 81.
Here we have total loss of gold dur
ing the short era of Democratic stariff
reform" of $197 ,531, Jog, or a net loss in
four years of $95 1929 over the net
gain accumulated during the precedin.
fifteen years. During these same disas.
trous four years of Wilson, German tar
iH reform, the national debt has been in
creased in principal $3.50, 454 $50, and in
interest yet to be paid almost $25O,OOO,-
600, or over $5OO,OOO,OOO in all. Had
the voters of the United States not heed
ed the false arguments of Democracy in
1897 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
q Gecn winch prevailed from 1879 to
dS9z, nave been lowered to the extent of
$224, 55S, 5O1 ;32, and instead of a loss of
$197, 531, JOG through gold exports we
should, at the ratio of the preceding if
teen Republican years, have had a net
gain through imports amounting in the
four years to $27, 0S5,0 12. Recapitulat-
ing these losses, and not saying anything
OF the tremendous personal losses infict-
ed by the tariff reform" experiment
upon, all classes of American citizens
for these in the aggregate are obviously
incalcula ble-we find that the "change of
1S92' from Mckinley protection to viii
son-Gorman free trade has cost the gov
eminent of the United States directly. in
its finances, not less than S949, ia
625.32, conclusion reached as follows:
Loss of gold through actual
export 80. .s1s7, 5s1, log 90
Loss of gold through what
would have been Imported
had the Republican ratio
from 1873 to 1899 obtained
from 1892 to 1896 , 27OS5 O12 90
Loss through increase In ma
tional debt ............. 500 600. 600 90
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 1892 to
1896 ....................... 224, 55s, 5o7. 80
Hv@k,