The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-08-27
M'kiNLEY'S LETTER
OF ACCEP rGNCE.
Continued from first page.)


who assert that our present industrial
and financial depression is the result
OF the gold standard nave not read
American history Alright or been care
full students of the events OF recent
years We never had greater pros
perty in this country, in every field of
employment and industry, than in the
busy years from 1880 to 1892, during
all of which time this country was on
n gold basis, and employed more gold
money in its fiscal and business opera
tions than ever before. We had, too,
n protective tariff, under which ample
revenues were collected for the gov
eminent and an accumulation of n
surplus which was constantly applied
to the payment of the public debt.
Let us hold fast to that which we
know TO be 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.
We cannot restore public confidence
by an act which would revolutlon12e
all values or an act which entails a
deficiency in the public revenues. we
cannot inspire confidence by adyocat-
ing reputation or practicing dlshon-
".
either to the treasury or to the people
without a change in our present tariff
| legislation.
WILSON AND MKINLEY TARIFFS.
Major Mckinley here considers at
great length the tariff acts of 1890 and
1894, contrasting the receipts under the
former with those under the latter and
| adding:
The net loss in the trade balance of
| the United States has been 195,9S3,607
during the first fifteen months opera
| ton 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 $751;
10000 per month, of 100000 for
every business day of the year.
We have either been sending too
much money out of the country or
getting too little or both. We have
lost steadily in both directions.Our for
eign trade has been diminished and
our domestic trade has suffered in
calculable loss. Does not this suggest
the cause of our present depression,
and indicate it's remedy?
1t is not an increase in the volume
Of money which is the need of the
| time, but an increase in the volume
of business Not an increase of coin
| but an increase of confidence. Not
more coinage but more active use
of the money coined. Not open minis
for the unlimited coinage of the silver
of the world, but open mills for the
full and unrestricted labor of Ameri-
can workingmen.
Our farmers have been hurt by the
changes in our tariff legislation severe
III. -,
badly as they have suffered. The Re
publican platform wisely declares in
favor of such encouragement to our
sugar interests "as will lead to the
production on American soil of all the
ugar which the American people use"
THE DUTY ON WOOL.
1t promises to our wool and wooden
interests 1.-The most ample protection"
guarantee that ought to commend
itself to every patriotic citizen. Never
was more grievous wrong done the
farmers of our country than that so
uniustly inflicted during the past three
years upon the wool growers of Amer
lea.
Although among our most indus
trous and useful citizens their inter-
ests have been practically destroyed
and our wooden manufacturers involved
in similar disaster At no time within
the past thirty-six years and perhaps
never during any previous period, have
so many of our wooden factories been
suspended as now. The Republican
party can be relied upon to correct
these great wrongs, if again entrusted
with the control of Congress
The letter here treats exhaustively
of the advantages to American trade
of the Republican principle OF reel
procity. Statistics are quoted TO show
the increase of foreign trade under
the reciprocity clause of the tariff act
of 1890, and return to the system is
urged.
The declaration of the Republican
platform touching foreign immigra-
tion is treated as one of peculiar i'm
portance at his time and Maj. McKin-
lev announces himself in hearty sym
pathy with the present legislation
restricting foreign immigration and
as favoring such extension of the laws
as will secure the United States from
invasion by "the debased and criminal
classes of the old world"
THE SOLDIERS AND SAILORS.
The next paragraph is devoted to the
soldiers and sailors of the Union, who,
he says, gave the government the best
they had in its hour of peril and who
in their age are justly entitled to gov
ernmental aid in their increasing
necessities. The declaration of the ST.
Louis platform in favor of upbuildng
the American merchant marine is
heartily approved as is also the plank
endorsing Civil Service reform. Con-
tinuing the letter says:
There are some important and
timely declarations in the plat
form which | cannot here dis
cuss. / must content myself with say
ing that they have my approval. If, as
Republicans, we have lately addressed
our attention, with what may seem
great stress and earnestness to the
| new and unexpected assault upon the
financial integrity of the government,
we have done it because the menace
is so grave as to demand especial con-
sideration and because we are con-
| viuaad that if the raOnIp are arOuSpH