The herald., 1897-03-24

verdict or the election was III ldNor VI
protection.
The Democratic party declared silver
to be the dominant issue and nearly
matched victory from the most des-
perate conditions. The Republican vic
tory would have been complete had not
the Democratic party presented other un-
necessary issues. which Handicapped
Bryan's candidacy, furnished a pretext
for Misrepresentation and abuse, and
really divided the friends of silver. AS it
was however, he said, the people had
declared in favor of protection. and the
Republican party should, in his judg-
ment. act without obstruction and with
expedition. Newlands declared that
both Industrial and monetary legislation
were necessary, and that of the two the
latter was more necessary. Tariff legis-
lation alone, he asserted, would not give
relief Producing, as we do, surplus
of wheat, cotton and other farm pro-
ducts, the price of the exportable sur
plus Is fixed in Liverpool and the Liver
pool price fixed also domestic prices. In
the Liverpool markets these products
come in competition with the products
of India, Russia, Argentina and other
countries, none of which is upon a gold
basis These countries are willing to ac-
cept the old silver prices for their pro-
ducts. The old silver price means today
half the old gold price, so we have the
price of our farm products cut in two by
the competition of these countries. Re-
store the old gold price of silver Sly per
ounce, and we Immediately restore the
old gold prices for our farm products,
and this means, he said, protection to
American farms and plantations. just
as a tariff law means protection to the
factory. We have, he continued, an in
dustrial 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 values that would
be destructive to property owners pro-
ducers and debtors. We need, therefore,
he said, tariff law to protect us against
the products of cheaper labor elsewhere.
The protective measure that VIII pro-
tect us against the existing agricultural
competition and the threatening manu-
featuring competition of silver coun-
tries must be legislation which will re-
store the old relative values of silver
and gold. Such a law would be equiva-
lent to 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 competition of Eu-
rope is insignificant as compared with
the existing and threatened competition
of Asia II believe" he added. that
the true policy of this country is COM
bined tariff and silver legislation-the
one protecting us against Europe, the
other against Asia"
He argued, that the recnt rise In wheat
proved that the price of that staple de-
pends upon the price of silver, Just as
the exception proves the rule. He con-
tended. in conclusion, that the area of
distress, for years confined to the min
ing belt the wheat belt and the cotton
belt, had now extended to the middle
and eastern states, which were sufrer-
ing from the loss of the consuming ca
pacity Of the western and southern
states. The increase of protection to the
factories would not materially add to
their prosperity unless the consuming
capacity of these regions were restored.
That could not be done by tariff legisla-
tions that would stop the appreciation of
gold and thus relieve our wheat and
cotton industries from the destructive
competition Of silver countries The
with reasonable tariff legislation, would,
in his Judgment. protect every American
interest, ard thus bring back revived
prosperity to our home industries, our
mines. our farms, our plantations and
our factories, as well as to the CONNER
cial transa ctions and our barking in
dustry. which are dependent upon them.
Lacey (Rep.. of Iowa) the next speak
er commented upon the abuse of Presi-
dent Cleveland by Democrats and Popu-
lists, and said in the debate not one
kind word had been said in behalf of the
only man who carried the Democratic
party to power in a quarter OF century.
The Populsts who abused the Demo-
cratic party in 1892 were its leaders in
1896
Handy (Del., Dem. lis it not pretty
hard for the Republican party to turn
on the gold Democrats, who helped it,
with such a tariff bin as this?
Lacey-ThN gold Democrats have no
such hostility to a Republican tariff as
they had in 1892.
The attacks on President Cleveland
were really made, Lacey Insisted, on ac-
count of his action during the Chicago
strike in keeping peace. "All honor to
him, for his noble stand on that occa
sion" he added. The Republicans had
not attacked the Cleveland administra-
ton for issuing bonds but for the policy
that made them necessary.
McLauren g. c., Dem.) member of the
ways and means committee, was the
next speaker. McLauren'S speech was
on prospective lines for southern indus
tries He advocated a duty on cotton
to keep out Egyptian grown cotton and
also favored protection of manufactured
cotton goods and other articles of south
ern production.
McLauren's demand for a duty oncot-
ton created a mild sensation. but it was
heartily applaudad by several of the
Democratic members from the cotton
belt While McLauren was contrasting
the vast wealth of the manufacturing
states of the east with the poverty of
the farming states of the south, Linney
IN c., Rep) asked him what was to
hinder the people of the Carolinas from
building the factories -AId sharing in
the spoils, instead of "cussinS' their
more enterprising rivals.
"The state of affairs produced by the
existence Of the Republicans and Popu
lists in the Carolinas," replied Mr.. Nc
Lauren. prevents the investment of
capital"
as not free raw material the pet doe
trne of the Democracy" asked Mr.
Linney
1T is the pet doctrine" responded Mr..
McLauren with emphasis. "of the De
mocracy represented by Cleveland and
Carlisle and those who have prostituted
the name of Democracy, and who We're
your aids and allies in the last cam
paign.''
large proportion of the Democrats