The times. (Owosso, Mich.) 1882-1897, 1896-09-04

ESQ. The per capita of money has been
practically the same during this whole
period. The quality OF the money has
been identlcal-all kept equal to gold.
There Is nothing connected with our
money, therefore, TO account for this
sudden and aggravated industrial
change. Whatever is TO be deprecated
in our financial system 1t must every
where be admitted that our money has
been absolutely safe and has brought
neither loss nor inconvenience to its
holders. A deprecated currency has
not existed to further vex the troubled
business situation. 1t is n mere pre-
tense to attribute the hard times to the
fact that all our currency is on q gold
basis. Good money never made times
hard. Those who assert that our pres
ent industrial and financial depression
is the result of the gold standard have
not read American history Alright, or
been careful students of the events of
recent years. We never had greater
prosperity In this country. in every
field of employment and industry than
in the busy years from 1880 to 1899, dur
ing all of which time this country was
on gold basis and employed more
gold money in it's fiscal and business
operations than ever before.
We had, too, n protective tariff under
which ample revenues were collected for
the government and an accommodating
surplus which was constantly applied to
the payment of the public debt. Let us
hold fast to that which we know Is good.
1t is not more money we want; what we
want Is to put the money we already have
at work. When money is employed men
are employed. Both have always been
steadily and remuneratively engaged dur
ing all the years of protective tariff legis-
lation. When those VINO have money lack
confidence in the stability of values and
investments they will not part with their
money-business is stagnated, the life
blood Of trade is checked and congested.
We cahnot restore public confidence by an
act which would revolutionize all values,
or an act which entails q deficiency in the
public revenues. We cannot inspire con-
fidence by advocating population or prac-
ticing dishonesty. We cannot restore con-
fidence, either to the treasury or to the
people, without n change in our present
tariff legislation.
The only measure Of general nature
that affected the treasury and the employ
ment of our people passed by the Fifty
third congress was the general tariff act,
which did not receive the approval of the
president Whatever virtues may be
claimed for that act there is confessedly
one which it does not possess. 1t lacks the
essential virtue Of its creation-the raising
of revenue sufficient to supply the needs
of the government. 1t has at no time pro-
vided enough revenue for such needs but
1t has caused constant deficiency in the
treasury and steady depletion in the
earnings of labor and land. 1t has con-
tributed to swell our national debt more
than $685., 000, 900, q sum nearly as great as
the debt of the government from Wash
ington to Notwithstanding all our for
eign wars from the revolution to the re-
bellion. Since its passage work at home
has been diminished; prices of agricul-
tural products have fallen; confidence has
been arrested, and general business de-
moralization is seen on every hand.
The total receipts under the tariff act of
1894 for the first twenty-five months Of it's
enforcement, from September, 1891, to
June, 1885, were 1851, 615, $685. and the ex-
penditures S640, 41S, $685. or a deficiency of
So, SQ3. Q35 The decrease in our exports
uur1ng Jne uysV uruesl mUnJns OF tile pres
ent tariff, as contrasted with the exports
of the first fifteen months of tho tariff of
1890, was $500, $685. 800. The excess of ex-
ports over imports during the first fifteen
months of the tariff of 1890 was $213, g72,-
96S but only $50, 75S, 623 under the first IF
teen months of the tariff of 1894, loss
under the latter of $157, ,345. The net
loss in the trade balance of the United
States has been 1885, 903, 607 during the first
fifteen months operation of the tariff of
1894 as compared with the first fifteen
months of the tariff of 1890. The loss has
been large, constant and steady, at the
rate of S13, 10000 per month, or 100000
for every business day of the year.