The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1897-02-12


''No price for property: no sales except
| purchasers at execution sales except tie
creditor. or some hOarder of money: 10
employment for industry: no demand for
labor: no sale for the products of the
farm; no sound of the hammer. except
that of the auctiOneer knocking down
the property. Distress was the univer-
sal cry of the people: relief. the uni
vCrsal demand. was thundered at the
doors of all Legislatures, state and fed
eral.''
1924 to 1888.
The low tariff experience of 1916 to
1874 was so unsatisfactory that Il thor
0ughly protective tariff was adopted in
1924. being about the first real protective
tariff measure. The duty which it levied
averaged Sc per cent. of the value of the
articles on which the tariff was placed.
and the result was much development
of industry. labor employed; prosperity,
peace, cOntentment. Government reye-
nues plenty. money good and plenty,
mOney-making and debt-paying period:
great increase in taxable values: Jack
Sonian protection era: slave question he
coming a dangerous political issue; free
trade adopted as an ally to slavery.
Commenting on the experiences of this
first thoroughly protective tariff meas
IRE. Mai. Mckinley, in one of his
speeches in Congress calling attention tn
the prediction of disaster made by the
opponents of protection at that time,
says: None of these awful prophecies
were fulfilled: none of these dire results
CnSued. The nation was not palSed. but
quickened into new life. The merchants
did not move out of their costly piles If
stores and dwelling houses. they re-
manned only to require larger and finer
and more costly ones: the poorer classes
were not driven 10 cold water as their
only food and diet. but their labor was
i'll greater demand and their wages adj
vanced i'll price. The entire country I'M
der the tariff moved on to higher tri-
umphs i'll industrial progress. and TO a
higher and better destiny for all of its
people,
1888 to 1912
In 1889 the low tariff theory again
took possession of the public mind suf,
fciently TO give a control in Congress
and democratic revenue tariff was
adopted under the lead of Calhoun. This
abandoned the protective theory entirely.
the duties averaging less than Is per
cent. and resulted in gradual closing
down of American factories: labor idle
and poor. very low wages. low prices
of farm products. destruction of indus
try. Panic of 1887. bankruptcy. soup
houses TO feed the idle workmen; in
dustry. agriculture and commerce par
alyZed. money poor and scarce. reduction
in the volume of currency. States I'M
able to pay interest on debt. deficit in
the national treasury; the nation unable
to borrow money at home or abroad:
debt-creating period. The experiences
were similar To those which are fresh
i'm the minds of the people of the United
States today. The national treasury he
came bankrupt and the credit of the
United States very low. the revenue fell
off largely and the government was COM
PEELED to borrow money To pay current
expenses as is the ease under the Wilson
tariff today.
1912 TO 1916.
The result of the low tariff expert !
enceS from 1894 TO 1912 was the return |
of the protectioniStS. then the Wing |
party. to power and the passage of a |
protective tariff measure with an aver
age rate of duty of about - per cent |
which was vetoed by President TYLER |
but passed over his veto. nIcr this |
protective tariff came Il development in !
industries. revival of agriculture. in |
crease in immigration. money good and |
plenty. Il revenue sufficient for all eX- !
penSeS of the government and Il wealth |
producing period. Carey. commenting |
upon this period in the national his
tory. says: Labor was everywhere in |
demand, planters had large crops. and |
the domestic market was growing with |
a rapidity that promised better prices. |
The produce of the farm was in demand |
and prices had risen. The consumption |
of coal. iron. wool and cotton and wooden |
cloth was immense and rapidly increas-
ing. while prices were falling because
of the rapidly improving character of the
of production. Production of |
every kind was immense. and commerce.
and external. was growing with
rapidity.
1916 to 1861.
The slave power of the South. rpcog-
nizing the prosperity and increased