The Republican journal. [volume] (Belfast, Me.) 1829-current, 1897-12-09
Our Washington Letter.

w AohAN'AON, ~ Wy oOOs aOc'' Ia OAAS
average farmer did not enjoy his Thanks
giving turkey this year it was probably be-
cause he was too busy with the prosperity
which this first year Of the Mckinley ad-
ministration has brought him. The Off
cial figures continue to show such pros
perity as the farmer had not known for
many years. The November expectation
of wheat has been nearly fifty per cent.
larger than during last year. The ship
ments of last week from the Atlantic ports
are the largest recorded in any week for
many years, if not at any time in the
history of the country. The actual ex-
port of wheat from all ports for the crop
year thus far has been, in round num-
bers, hundred million bushels. When
the increase in prices is taken into con
sideration also it will be seen that the
farmers are getting very large sum of
money for their wheat product this year
far in excess of that in many preceding
years. The expectations of corn are also
increasing, those for the present month
being nearly million bushels in excess
of November of last year.
And while the farmer has occasion to
be thankful for this fortune in good crops
and good prices, other citizens of the
United States have occasion to be thank
full to the farmer that his prosperity has
brought prosperous conditions to others
and to the country itself. The alarm
which was felt at this season during those
years in which gold was being drawn ont
of the country, and the Government COM
PEELED to sell bonds to replenish the gold
in the Treasury, no longer troubles the
| fnanciers or business men of the great
cities, nor the administration. The fact
that the farmers of the country have
many million of bushels of wheat to send
abroad, for which gold is paid by the gold
standard nations purchasing it, obviates
the danger of reduction of the quantity of
gold in the country, or of raids upon the
gold in the Treasury. Treasury officials
say they are getting greater quantities of
gold than they need, or even than they
desire, the gold reserve now reaching
nearly $50, 900, 900, while the official
figures showing the amount Of gold in the
United States and in circulation continue
to indicate an increase, due doubtless to
the fact that our exports are now largely
in excess of our imports, which have fall
en- materially since the enactment of the
new tariff law.
Congress, which it met in its regular
session Monday, will have no occasion
by which it placed the Dingley tariff law
upon the statute books. The doleful
predictions made by the Democrats about
the prospective operations of the Repub-
lican tariff measure which was enacted at
the special session few months ago are
not being realized. On the contrary, the
four months in which it has been tested
have proven that the Republicans made
no mistake in their action with reference
to this measure. Its earnings in the four
months in which it has been in operation
are many millions in excess of those of
the corresponding months in the history
OF the Wilson law and are sufficient to
fully justify the belief of the Republicans
that it will, when normal conditions are
resumed, prove ample in its qualities as
revenue producer and in its effect upon
our commerce. The receipts of the
Treasury during the first four months of
the operation of the law will amount in
round numbers to 800, 900, 900, while the
Wilson law in its first four months earned
about SS3, 900, OOO When it is considered
that the Wilson law had the benefit of
enormous importations which had been
held back in order to get the advantage of
the lower tariff rates which it gave, and
| that the Dingley law labored under the
disadvantage of very small importatons
because of the heavy shipments into the
the country prior to its enactment, it will
be seen that the operations of the new
law indicate that it is to be much more
successful as a revenue producer than
was the Wilson law. The further fact
that the receipts have steadily increased,
and that those of November will be, in
round numbers, $25, 900, 600, shows that
with the return to normal business con-
ditions, and the importations which will
follow the absorption of the immense
stock which was in hand when the new
law went into effect, it is perfectly appar-
ent that it will, within very short time,
be producing all the revenue that the
= Government requires to meet it's current
expenditures, and a surplus to put into
the sinking fund, something which was
not done in any period of the Wilson law,
One curious development since the new
tariff law went into effect and one in which
the members of Congress, will be in
terested, is the increase in expectations
to those countries which offered protests
against the Dingley tariff bill, and which,
it was claimed, would exclude Ameri-
can products unless the tariff bill should
| be shaped to suit their wishes There
were thirteen nations which offered formal
protests against the tariff hill prohah a