The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-04-10

paid or by tneir power " nuppV tno
necessaries and comforts OF life.
The report OF the secretary OF the tr sas-
ury will attract special interest In view
OF the many misleading statements that
have been made as 70 the state or the public
revenues. Three preliminary facts should
not only be stated. but emphasized. before
looking 10 details: First. that the public
debt has been reduced since March 4. 1882
s25s. o74. 200. and the annual interest charge.
sli 6si.4 e6. Second, that there have been
paid out for pensions, during this admins
tratfon up to November !. 1892. 49,, 564, $40.
an excess OF STA. 46e. $500 over the sum ex-
pended during the period from March 4.
der the existing tariff, up 10 December 4.
about s93000,O00 OF revenue. which would
have been collected upon imported sugars
II the duty had been maintained. has Como
into the pockets of the people. and not into
the public treasury. as before.
The revenues for the fiscal year end
ing June 30. 1892. from all sources. were
s425. S6S. p. and the expenditures for
all purposes were @15. 953 SOC. So. leaving a
balance of IS, 914. 45306 There was paid dur
ing the year upon the public debt l0.57O.-
467.s9.
From all this testimony we cannot but
deduce the following; Thataprotectivc
tariff has invariably resulted in BUSH
ness prosperity and material growth,
while n non-protective tariff has just as
invariably resulted in business depres-
sion. hard times, and general prostra-
ton.
Let us, however, bring the testimony
up to the present time and note the con
trast. President Harrison, under the
protective policy of the Mckinley tariff,
reduced the public debt $3.50 ,074, 200, and
the annual interest ST., 6s4, 406. while Mr..
Cleveland, under his tariff reform pol
icy, has added 10 the public debt 1862 .000,-
900 OF 30-year bonds and over $4,000. 900
TO the annual interest. During the last
year of Mr.. Ilarrison's administration.
after paying S40,57O,453 on the public
debt. and the largest amount of pension
money ever paid in the history of the
country, there was still n surplus Of
$o,of4,453 i'm the treasury, while Mr..
Cleveland, during his four years, has
paid nothing to the public debt, has cut
down the pensions some $l3,000,000, and
will show a deficiency during the year
amountingto more than $50, 900, 900; and
for the three years 1894, '95, 'o6 the
yearly average deficiency has amounted
to $40, 154,342.
Now, what is the cause of this change?
1t is evidently due to n change Of admin
istration and change Of policy In re-
gard 10 n protective tariff. The coun.
try was never in more flourishing con-
dition than in 1892. during President
Harrison's administration, and it was
never In a much worse condition than
just previous to the election i'm Novem-
Der, 1896. Prosperity has been in n
measure restored by the assurance that
a party favoring protection has been
placed in power. Let congress pass
such tariff bills as the protectionists
propose, and as will not only give suf-
ficient revenue TO meet the government
expenses, but will also protect our in
dustries. Then the prosperts of the
people will be such that this couIl-
try will flourish as it has never done
before.