The record-union., 1897-03-24
.kerv. "a distinguished Repub-

Dockery "A distinguished Repub-
lican, then member of this House,
told me at the time it was the worst
disaster the Republican party had ex-
perienced in twenty years
Dockery was especially sarcastic in
his remarks on the absurdity OF giving
alleged protection to agricultural pro-
ducts OF 1863, 900, 900 products export
ed by the United States last year, $oO4,-
100000 was agricultural products.
In conclusion, he said the policy of
protection had driven our flag from the
high seas, Impoverished the laboring
men and multiplied farm mortgages.
Newlands discussed the tariff bill
from the standpoint of the silver men,
who united with the Democrats and
Populists during the last campaign, in
opposition to the Republicans. This
alliance, he said, still continued and
was likely to amalgamate the combined
forces into one strong party, with sill
yer as the supreme dominant issue, all
other questions being subordinate to
it, and the largest tolerance being exer-
cised as to the difference of opinion on
other questions which hitherto have
ing the silver forces.
Much depended in the future upon
the tolerance, wisdom and conservative
action of the allied parties, and he pro-
posed to address himself to the question
of what line of party action would best
promote the cause of bimetallism which
he regarded as the only radical cure Of
present conditions.
Although he continued, ''it is some
times difficult to determine the exact is
sues settled by the campaign, there
can be no question as to the tariff. The
popular verdict of the election was in
favor of protection. The Democratic
party declared silver to be the domin-
ant issue, and nearly snatched victory
from the most desperate conditions. The
Republican rout would have been COM
plete had not the Democratic party
presented other unnecessary issues,
which handicapped Bryan's candidacy,
furnished pretext for misrepresenta-
ton and abuse, and really divided the
friends of silver.
LAS it was, however" he said, "peo-
pie had declared in favor of protection
and the Republican party should, in
his judgment, act without distractions,
and with expedition
Newlands declared that both indus
trial and monetary legislation were ne
ceSSary, and that Of tho two, the lat
ter was the more necessary. IarlH
legislation alone, he asserted, would not
give relief. Producing as we do, sur
plus wheat, cotton and other farm pro-
ducts, the price of the exportable sur
plus is fixed in Liverpool and the Liver
pool prices also fix the domestic prices.
In the Liverpool markets these pro-
ducts come in competition with the pro-
ducts of India, Russia, Argentina, and
other countries, none of which are upon
a gold basis. These countries are will
ing to accept the old silver price for
their products. The old silver price
means to-day half of the old gold price,
so we have the price of our farm pro-
ducts cut in two by competition in these
countries. Restore the old gold price
of silver, 81 20 per ounce, and we i'm
mediately restore the old gold prices of
our farm products, and this means pro-
lection to American farms and planta-
tions, just as the tariff law means pro-
lection to the factory.
1--WE have" he continued, IAN indus
trial system in this country which
makes it an object of attack from all
other countries. Our wages are much
higher than other countries, and the
unit of all values here is the daily
wage. A general reduction in wages
would bring about readjustment of val
ues that would be destructive to prop
erty owners, producers and debtors. We
need, therefore, he said, "a tariff law
to protect US against the products Of
cheaper labor elsewhere. The protec-
tive measure that will protect US
against the existing agricultural COM
retition and the threatening manufac-
turing competition of silver countries
must be the legislation which will re-
store the old relative value Of silver
and gold. Such a law would be equiv
alent to a tariff of 100 per cent. upon
the products of silver countries, for it
would increase to that extent the gold
cost of such products. The competi
ton of Europe is Insignificant as COM
pared with the existing and threatened
competition of Asia"
He argued that the recent rise in
wheat proved that the price of that
staple depends upon the price of sill
yer, just as the exception proves the
rule. He contended, in conclusion,
that the area of distress for years con-