The Coconino weekly sun., 1896-08-13

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 1883 for the purpose of antici- pating the increased duties of the Me Kinley bill, and this caused an outward Aux 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. 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 highly protective basis. Adding imports together and con- pairing results for the fifteen years in | question we find that the aggregate i'm. ports of gold exceeded the aggregate pS- | ports to the amount of $1O1, ,56S, BIO. | During this period the national debt was reduced from $2 .349, ,567 ,2324 in 1879 to S1 ,563 ,612, ,455.63 in 1892, Il total reduc- tion of .S7S5, 5,954, ,776.41.
 | Now let us turn to the years from 1893 to 1896, when tariff reform" held the | boards:
 1893. Exports ..................ss .ss7, ,5O6, ,46a iS3c: iS3c: 'EApor.s ................. lo9s4, 44g | loob' .Exports .................. 145l1, 252
 .Eleven months ended May 31. Here we have a total loss of gold dur. ing the short era of Democratic tariff reform" of S191 ,J31 1O6, or a net loss in four years of $95.962,976 over the net gain accumulated during the preceding  trous four years of Wilson Gorman tar. iff reform, the national debt has been in creased in principal S26O. 454 ,33O. and ir interest yet to be paid almost S25O. .OOO 900, or over S500,OOO.000 in all. Had the voters of the United States not heed ed the false arguments of Democracy il 1892 the national debt, instead of beinl increased in principal and interest ovel half billion dollars in the intervening four years, would. at the same rate o1 decrease which prevailed from 1879 tt 1892. have been lowered to the extent oi S224.55S, ,501 .32. and instead of a loss o $197 ,531, ,1O6 through gold exports wt should, at the ratio of the preceding fiji teen Republican years, have had a ne gain through imports amounting in tn, four years to $27.OS5,O12. Recapitulat ing these losses, and not saying anythin; of the tremendous personal losses infct ed by the tariff reform" experimen upon all classes of American citizens for these in the aggregate are obviousl, incalculable-we find that the "change O 1S92' from Mckinley protection to Will son-Gorman free trade has cost the gov ernment of the United States directly, il its finances, not less than $949. 174, 625,3 q conclusion reached as follows Loss of gold through actual
 export ....................$1 .$107 531 ,1O6 O Loss of gold through what
 would have been imported
 had the Republican ratio
 from 1878 to 1892 obtained
 from 1892 to 1856. ... ...... 27,os5 .o12.o Loss through increase in na-
 tiOnal debt ............... 800, ,0OO, 0.O l Loss through what would
 | have been the reduction of
 debt had the Republican ra-
 tio of debt reduction which
 prevailed from 1879 to 1892
 | nrpyailed also from 1892 to