Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1899-02-16
PROJECTIONS WORK.
ALREADY DONE AND YET TO BE
ACCOMPLiSHED.
Important Results of an Iconor1ic
System by Which Country Encour-
: ages the Development of It's Nat
uraI Resources.

can Protective Tariff League First Vice
President Cannon read the following
address, which was listened to With
profound attention, and called forth
many expressions of approval:
In determining ON the future policy of
our League, it may not be Improbable to
briefly review the past, and in that con-
nection to consider the duties of our
League as we'll as its accomplishments.
The war with Spain, hostiiitics COM
mencing on April Is, and terminating on
Aug. 20 Ga period of about one hundred
days., resulting in a practical destruction
of the Spanish navy, possession OF Cuba,
Porto Rico and Manila by our army and
navy, and armistice and the terms OF
peace practically settled, constitutes ma
tional record Of success which mas no
parallel in history, and is so recognized by
the dominant nations of Europe. But
there appear to be other achievements IN
a commercial revolution which are signlh-
cant important and proftable-a conquest
| by our industries. AS proof of our com
| mercial supremacy the eminent statlst1-
| clan Mulhall says:
"Statistics of our production and trade
| prove that the United States leads with
! agricultural products greater than the
| United Kingdom and Russia combined; IN
| manufactures with product greater than
| the aggregate output of the factories OF
| the United Kingdom, France, Austria
Hungary and Belgium combined; in ma
| chinery with a steam power greater IMAM
| the United Kingdom, Austria Hungary
and Italy combined; in mining with pro-
| duct greater than the United Kingdom
| and France combined; in railway trans
portation with mileage 40 per cent great
or than all Europe; in forestry greater
| than all Europe and nearly one-half OF
| the total product of the world; III fisheries
with a greater product than the United
| Kingdom, Russia and Germany com
bincd.'
From the same authority we learn that
! the United States is twenty thousand mill
| ions of dollars richer than Great Britain.
| The total exports per capita nave grown
from S11.37 in 1895 to $12.11 in 1896, to
SALT in 1897. and to $16.6S in 1898, an
| increase of nearly so per cent IN three
| wears. The exports of manufactured pro
ducts have been even more striking III
| their growth in proportion to the per cap
| tia of total exports, showing an increase
of about rs per cent i'll five years.
| Our conspicuous weakness is in our
| commercial marine. Our strength IN this
| direction would be speedily increased II
protective policy to offset the unequal
competition of the subsidized ships OF Ell-
| ropean nations was adopted by TINS coun-
| try. 1t is to be hoped that measure
! having in view the adequate protection
| of our merchant marine will be adopted by
| Congress.
Brilliant as has been our success in war,
Which inevitably immensely increased ma
| tional taxation, it is to commercial sue
| cess that we must look for the permanent
enrichment of our people.
In considering the causes which have
effected this wonderful increase of ex-
ports, and especially our exports of man
| ufactures, no one can dispute that our
periods of progress and wealth have been
| during the existence of protective tariffs,
and that these conditions have been in
variably reversed under low tariffs in the
| direction of free trade. At no time in our
| history has this fact been more conspic-
uous than at present. Under the Dingley
| tariff, in strong contrast with the period
| of depression, diminished production and
| insufficient employment of labor under the
| Wilson tariff the increase of exports has
| made us creditor nation, and the de-
| crease in imports simply indicates that
| our wants have been supplied by domestic
| industries.
| With abundant crops, our manufactures
| and mechanical industries taxed to their
full productive capacity, and with high
scale of wages, and yet with money so
| abundant and cheap that the rate of in
terest is less than in Europe, we have be-
| come a creditor nation. We must con-
| tinue, with our great natural resources,
! aided by our enterprise and skill, to hold
this supreme position, But perhaps no
one agency has been so potent in obtain
ing this result as that which has wrought
the wonderful development of our metal
industry under protection.
| Political economists recognize that the
| commercial supremacy of England was
| based on the possession of the useful met
| ais and fuel; but these essential products
| are now more extensively developed and
| possessed by us than by any other nation,
and | think it may be claimed that this
| rapid success of great industry has no
| precedent
Thirty years ago large part of our iron
| and steel was imported No Bessemer
steel was made in this country. To-day
we mine coal and make iron and steel at a
less cost than any other nation, thus re-
versing the course of trade by exporting
| to the markets from which we formerly
| imported.
| The cost of steel rails in 1872 laid down
in this country, duty paid, was $3.50 per
ton, to-day steel rails made here are mar
keted at $18 per ton; thus in twenty-five
| years this infant in the nursery has de-
| veloped into an industrial Hercules.
As the direct result of protection, cap
| ital has been encouraged to develop mines,
and to construct plants which are admit
| ted to be the most perfect in machinery,
appliances and economies. For the calen-
! dar year 1898 there stands to the credit of
| the United States, as the result of an
| enormous excess of exports over imports,
a favorable merchandise balance amount
| ing to over 1921, 100000.