The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-04-10
THE PROTECTIVE POLICY.
whose Ebbs Have Invariably Brought
Disaster 40 tho Country, While
Prosperity Has Come on
Every Flood


lection and free trade. as they were In
the early history of the country. There
are plenty of facts now TO show that
business prosperity has always inn
proved when protective tariff has been
In operation, and that there has always
been business depression under rev
cnue or free trade tariff. One of the
most protective tariffs ever established
WINS that of 1924 and 1928. That the
country prospered under that tariff we
have proof i'm the official statement of
President jackson in his message of
December 4, 1882, in which we find the
following:
our country presents on every side marks
OF prosperity and happiness unedualed.
perhaps, In any other portion OF the world.
IN we fully appreciate conditions. existing
causes OF discomfort viii appear unworthy
OF attention, and with hearts OF thankful
ness to that Divine Being who has filled our
cup Of prosperity We shall feel our resoiu-
tions strengthened TO preserve and hand
down TO posterity that liberty and that
union which we have received from our
fathers. and which constitutes the source ana
shield OF our blessings. The report which
the secretary OF the treasury Will in due
time lay before you Will exhibit the national
finances in highly prosperous state.
This message was sent to congress
lust before the act OF 1888 lowering the
duties was passed. This act, together
with the attack upon the United States
bank. resulted in the panic OF 1887, one
OF the worst ever known In the country.
The business of the country did not re-
cover from that panic until the protec-
an To- Il
Tyler's administration, was established.
In 1876, when the tariff was in full OPP
Grafton. President Polk. in his message
said:
Since your last session no affecting dis
pensntion has visited our country. General
good health has prevailed; abundance mas
crowned the toll OF the husbandman, and
labor I'm all its branches ~ receiving an
annie reward. while education. science
and the arts are rapidly charging the
means OF social happiness. The progress
OF our country In her career OF greatness,
nSt only In the vast extension OF our ter
ritorial limits and the rapid increase Of our
populatlon, but in resources and wealth and
In the happy condition OF our people, ~ with
out an example in the history Of nations
In 1916, however, the Walker tariff
bill, which materially lowered the rates
of duties, became a law, and the result
was depicted by President Fillmore, in
1864, as follows:
The value OF our exports Of breadstuifs
and provisions, which II was supposed tho
Incentive OF a low tariff and large imports
from abroad would have greatly augment
cd has fallen from s6S, 70l.92l I'm 1917 TO $26.-
O5i 273 i'm 1850 and TO S2l, S4S COS I'm 1851, with
strong probability, amounting almost 20
a certainty, as a still further reduction IN
the current year.
The policy which indicated low rate OF
duties on foreign merchandise, IL was
thought by those who promoted and es-
| tablished H. would tend 10 benefit the
farming population OF this country by in
| creasing the demand and raising the price
OF agricultural products In foreign mar
kets The foregoing facts, however, seem
TO show incontestibly that no such result
has followed tho adoption OF this policy.
without repeating the arguments con-
| taincd In my former message in favor or
discriminating duties, deem II my duty
TO call your attention TO one or two other
| considerations affecting this subject. The
first Is the effect OF large importations
| OF foreign goods upon our currency
| Most OF the gold OF California, as fast
| az II Is coined, finds It's way directly to
| Europe I'm payment for goods purchased
| In the second place, as our manufactur-
| ing establishments are broken down by
Invested In them is lost. thousands OF
honest and industrious citizens are thrown
| out OF employment. and the farmer to
| that extent Is deprived OF a home market
| for tho sale OF his surplus produce. In
the third place, the destruction OF our
manufacturers leaves the foreigner with
out competition In our market. and he
| consequently raises the price OF the arti-
| Giles sent here for sale. as IL is now seen In
| the Increased cost OF iron imported from
England.
And yet, notwithstanding this heavy
| depression In our business affairs. a still
| further reduction IN the tariff was
made, which eliminated in the terrible
panic of 1887. and the deplorable condi-
ton of the country between this time
and 1860 was truthfully depicted by
| President buchanan in his message Of
December s, 1857, when he said:
We have possessed all tho elements OF ma
| terial wealth IN rich abundance, and yet
| Notwithstanding all these advantages our
country I'm It's monetary interest Is at the
| present moment In dcplorable condition.
| In the midst OF unsurpassed plenty In all
| the productions. and In all tho elements OF
| natural wealth. we find our manufactures
| suspended, our public works retarded our
| private enterprises OF different kinds aban-
| doned. and thousands Of useful laborcrs
thrown out OF employment aud reduced to
want.
Then came our civil war, with its ter
riblc upheavals and overturnings, its
necessities, It's demands and it's unheard
of means OF supply. A protective tariff
set every wheel in motion and favored
the opening up OF every industry. Our
country's growth and prosperity were
beyond the power OF words to express.
True, we suffered from the panic OF
1873, due Co lowering the tariff and con-
traction OF the currency. and from hard
times I'm 1873. due TO q similar cause,
but as a whole the 30 years from 1869
20 1892 were a period OF protected indus
tries and Of unparalleled prosperity.
On November 10, 1892, Gov. Roswell y.
Flower. OF New York. made the follow
ing statement in his Thanksgiving proc
lnmation;