Walker Lake bulletin. (Hawthorne, Nev.) 1883-1926, 1897-08-25
PROTECTION AND SILVER.
SPEECH
Hon. Francis G. eW|ands,
OF NEVADA,
In Tho House Of Representatives,
Tuesday, March %, 1897.

on the state of the Union, and having under
consideration the bill III. R. 39) TO provide
| revenue for the Government aud to encourage
| the industries of the United States
| Mr.. Newlands said:
| MITTEE: | propose to discuss this question from
| the standpoint OF a Silver Party man. member
of that large organization of silver proteetiOnists
who in the last campaign formed an alliance
| with the Democracy and Populists in the sup
port of Mr. B, yam for the Presidency an ALI
| ance which sill exists, and which will continue,
| and which will eventually result in an amalga-
ton OF the allied forces into one strong party,
with bimetallism ss the dominating issue, all
other questions being subord mated to 1t, and
| the largest independence ofacl,on and variance
| OF view upon questions be pei mitted.
| The question now arises uoOn this bill, What
shall be The action of those allied forces? Shall
| they endeavor to combine in opposition to this
bill, or shall they exercise liberty of conscience
| and independence of action according to their
convictions with reference to this economic
question? They are divided into free traders,
those who are in favor OF tariff for revenue only,
| those who are in favor OF moderate protection,
| and those who favor thoroughly protective
| policy. They have 1t in their power in the other
House by union of action to obstruct this bill,
and they probably have 1t In their power to de-
| feat it.
belonging to tho allied forces in the other
House will result in the passage of this bill and
the elimination Of the tariff as disturbing
element in the future consideration OF the bi,
metallic question. So far as | am concerned |
am free to say, protectionist though am, that
| would not hesitate moment, If | felt could
| advance the cause OF bimetalism, to put the
knife into this bill, to obstruct and defeat 1T.
But do not believe that this is the time or
opportunity for favorable results from any
Obstructive policy.
of this country declared in favor OF protection,
whatever they may have declared upon other
questions. l believe that il the Democratic
party had accepted the challenge of the Repub
liean party and mede the issue upon the tariff,
they would have gone down in overwhelming
defeat As 1t was, they acted wisely, announced
truce regarding the tariff, made the money
| question the dominant issue, and almost
snatched victory from the most desperate con-
ditions.
l believe that the country has given the Re-
publican party a contract for prosperity; They
| propose this as the sovereign remedy. Whether
| 1t will prove to be such or merely palliative
or quack remedy, time only will determine
but the people OF this country, suffering as they
| are from the direst disaster, are, in my judg
ment, to be educated by events and not by
arguments. / trust, therefore. that this bill
will pass, because believe it will clear the way
| for calm, dispassiOnate consideration OF the
| bimetallic question.
| Having said this much with reference to the
policy and the action OF the silver men, l have
something to say in reference to financial and
| industrial policy, which in my judgment will
alike the factory, the farm, the plantation. the
| mine-a genuine American policy that shall
| protect every section, every class, every in
| dividual within our boundaries.
COMBINED PROTECTION AND SILVER LEGISLATION
| believe in combined protection and silver
| legislation. believe that both are essential tt
the prosperity of the country. believe that
the alliance of protection and the gold trust in
wolves a contradiction. Protection means q
raise in prices, or, at all events, sustaining Of
prices by eliminating foreign competition. The
| gold trust means lowering prices; 1t means the
| appreciation of gold and a diminution in the
value of products and property ss compared
with gold So that protection and the god
standard involve two conflicting, contrad etory
forces, one operating to sustain prices and the
other having the inevitable effect of lowering
| them.
If could by my vote in this body or by m,
| influence or voice aid in securing the passage
| of a measure that would give this country high
er protection, adequate revenue, and at the
same time the free coinage of silver, no effort o
| mine would be spared now and today to secure
| that result But do not believe that the tenn
per OF the country will stand the prolonged
struggle which could alone bring about com
Iimental state. 1t has tried the repeal of thu
Sherman Act; IT has tried the passage OF thu
edy proposed by the Republican party: and
of that remedy demonstrated as quickly as dut
| elaboration will permit.
PERIOD OF UNREST.
| l have said thatII believe in combined pro
| lection and silver legislation. We have had {
very serious condition OF things during the pas
three years-a period of unrest, dissati sfaction
| and distrust. This cause OF that was assignee
| by some to the incoming of a Democratic AID
ministration aud the arffpolicy 1t inaugurated
by Others to the repeal of the sherman Act b!
| Others to the lack of revenue and by others L
the diminution of protective duties But W.
find that the roots Of this discomfort were fixed
| in the soil long prior to 1893.
| Now, the Republicans here who allude to thu
years from 1890 to 1898 as the period OF high
water mark in the prosperity of this country
| must admit there were elements OF unrest prlol
fkatN fol sxxr hat taaT Nag
sage of the Mckinley bill, during this very
period of high-water prosperity in the New
England and Middle States the States OF the
West, the Northwest, and the Pacific, Coast
States that had uniformly stood by the Re
| publican party ever since their organization
sloushed Off from the Republican party i,
| 1892 aud threw their support TO Mr., Cleveland.
There must have been condition of unrest
and of dissatisfaction. What caused it?-The
lack OF prosperity in the agricultural regions o.
this county, the low prices Of farm products
SO that we have here period OF comparative
| satisfaction and prosperity in the New England
and the Middle States, aud period OF suffering
| dissatisfaction. and unrest in the agricultural
States. What is the explanations? My answer
| Is that the legislation of this country upon the
money question had caused the appreciation OF
gold and the diminut,on of the prices of pro
| ducts and that the disocation between god
and silver caused by the domonetization OF
| silver gave to silver.standard countries In com
petition with our own an advantage in the pro
| Liverpool market, where those products are sold
| aud where their prices are fixed; for you all
| know that the price of the exportable surplus
| Axes the price OF the whole. The Liverpool
price of wheat and of cotton differences in the
cost of transportation being adjusted) fixes the
domestic price oil those products in this country
BANKRUPTCY OF RAILROADS.
| Now since 1898 what has been the condition
| of this country? think it is best illustrated
by the condition Of our railroads. Since 1897
| 1900 miles of railroads in this country have
gone into the hands of receivers. Some OF them
| nave gone out again through the process of ire
| organization" so well known to Mr.. Pierpont
] Morgan and mis- associate, but since 1898 4i,0C0
| miles nearly one-third OF the entire railroad
mileage of the county, have gone mo the
| hands of receivers.
| Where are these railroads? | call attention
| to the map which have had placed in front of
| the Clerk desk. Upon that map those rail
roads aie marked in heavy lines. and you zee
| that tiey are almost entirely in the Southern
| the Western, the mountain. and the Pacific
states. You observe that the New England aud
| Middle States have been measurably free fiom
| these railroad failures. Why was that ? simply
| because by our legislation we had raised a p' o.
| tectiye wall which protected the manufac mr.
! ing Industries of the New ENGLAND aud the Mid
die States. so that they have been able To- sell
| their products in the protected markets OF the
| South aud West, aud have nc cumulated large
profits which they have deposited with the r
| banks and trust companies
They have loaned Uut these MONEYS 70 the