The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-06-19

the requirements of our necessary expen-
d1tures, to furnish the needed protection
to our farmers and manllfac turers, and
to insure the steady and remunerative
employment of those who labor. Instead
of permitting manufacture and commerce
that repose and stability of law which are
essential for working out economic condt-
tions he at once recommended violent
and radical changes in revenue and tariff
provisions recommendations which his
party in congress proceeded partially and
diSas trOuSly to execute. The appalling
result of his policy is still fresh in the
60 900 commercial failures. with liabilities
aggregating more than 800 millions of dol
lars. One hundred and seventy-seven rail-
roads, with a mileage of 1900 miles, or
twice the circle of the globe, and with
securities amounting to nearly three Dill
ion of dollars, were unable to meet their
interest charges and passed into the
hands of receivers. More than 10 ma
tional banks closed their doors, with LA
bilities reaching 20 millions. wool and
all farm products which tariffs could af-
feet. lost tens of millions in value; farm
mortgages were foreclose1 by thousands
throughout the great west; our agricul-
ance of trade. which had been in our
favor. turned ruinously against us; the
national treasury was depleted of its gold
reserve; our government bonds were SOLO
to syndicates at far below their market
value before or since, and our steadily de-
Ginning revenues were 1nslllT1clent 70 meet
the necessary expenses of conducting the
government: If capital alone had sut-
fered. the loss would have been great.
but not irremediable. Unfortunately those
who rely upon their daily labor for their
sustenance and their families dependent
upon them. constituting the great mass
of the American people, were made to feel
heaviest this burden of disaster. Nearly
United States we're thrown out of en-
ployment, and men by thousands. able
and willing to labor, walked the highways
of the land clamoring fox work or food
Four years of commercial misfortune
enabled our industries to meet, in mea-
sure, these changed ana depressed conul-
lions, but when President Mckinley was
inaugurated the country was in state
more deplorable than had existed for a
generation.
Facing these difficulties the president
Immediately upon his inauguration con-
vened congress in extra session, and in
a message of force and lucidity, summar-
lied the legislation essential to our ma
of the United States for the past four
years is the tribute to the wisdom of his
judgment. 1t is quickly epitomized.
The tariff measure, under which we are
now conducting business, was preceded
by an unusual volume of fmpOrtations
based upon common knowledge that GER
tain duties were to be raised. the bill met
the popular demand that duties on many
of the necessaries of life should be low
cred and not raised; advances IN lnVen-
ton and new trade conditions made 1t I'M
necessary and unwise to revert TO the
higher tariff provisions of the law of 1890;
the increases in the revenue PROVISIONS
were slight Yet notwithstanding all
these facts tending to reduce income. the
revenues from the Dingley Bill marched
steadily upward, until ION our normal
income exceeded our normal expenditure.
and we passed from a condition of threat
ened insolvency to one OF national SOL
vency.
This tells but a small fraction of the
story. Under the wise provisions of our
tariff laws and the encouragement af-
fOrded to capital by a renewal of public
confidence, trade commenced to revive.
The looms were no longer silent and the
mills deserted; railway earnings increas-
ed, merchants and banks resumed buSl-
ness, labor found employment at fair
nXnATfg inrTeagRd. and the
sunshine of hope again illumined the land
The figures that illustrate the growing
prosperity of the four years of Republican
administration well nigh stagger belief
There isn't an idle mill il the country
today. The mortgages on western farms
have been paid by the tens of thousands,
| and our farmers are contented and pros
porous Our exports nave reacheu eiloI-
nous figures; for the last tWeiEe months
/ our exports of merchandise will exceed
| our imports by $50 millions of dollars Our
manufactured articles are nndlng a mar
I ket all over the world and in constantly
! increasing volume. We are rapidly taking
/ our place as one of the grea- creditor ma
/ lions of the world. Above ard beyond all.
! there is no man who labOrS with his
hands in an our broad domain who cam
\ not find work, and the scale of wages was
/ never in our history as high as now
Passing over. for the, moment, the
| events associated with the war, let me
! refer briefly to other legislation of the
/ past four years.
| We passed a national bankrupt act, a
/ measure rendered essential by four years
/ of Democratic rule. and under its benefi-
/ cent provisions, thousands Of honest men
| who were engulfed in disaster because
4 OF the blight of the Democratic policy,
/ are again enabled to transact business
and share the blessings of Republican
For half a century the Hawaiian Is
| lands, a menace to the long line OF coast
| which skirts our Pacific slope, have been
/ knocking for admission as part of our
| territory, and during that period the pub
| licly expressed opinion of both political
| parties favored their annexation. Four
/ times have they been occupied by Euro
! pean powers, and as often have we com
/ PEELED their abandonment because II was
| essential that they should never be occu-
pied by any foreign power. Finally, after
years OF disagreement by natlEe rulers
! the gallant descendants of American Iner-
| chants and missionaries made prOHeI
| again of these valuable possessions to this
| country. asking only to come under our
| flag and dominion. A Democratic presl-
| dent repudiated the offer, and sought &c
! assist in restoring the former corrupt .anc
| oppressive ruler. It was left for this adj
| ministration to make them a part o.
! to our islands in the southern seas; every
! instinct of self-protectiOn should have
| prompted our quick acceptance OF thell
sovereignty, and yet they We're acquired
in spite of the bitter opposition of almost
every Democrat in congress-
During the last administration an Offer
| of settlement was made to the Pacific
railroads which would have brought US A
million dollars out of the 70 million dol
lars due US in principal and interest
President Mckinley. refusing to consider
as binding the former offer, and acting
within the authority of congress collected
| every dollar of both principal and interes
due from the Union Pacific company, anC
the principal of the debt due from thu
| Kansas Pacific. We saved more than
millions of dollars over the offer of set
tlement made by Mr.. Cleveland. and hav'
collected all of the principal and most o
the interest due US. Thus was this trans
| action closed, and has since been FOLLOWED
| by a settlement of the debt of the Contra
Pacific railroad. calling for every dolla
of principal and interest of the debt
amounting to So millions. More than 3
/ years ago a Republican administration
. lent the credit of the country to the build
, ing of the great iron band thar was u
/ | link together the east and the west, len
| | it not in times of peace. but when tn
J country was in the thrOes of civil war
The area to be penetrated was then un
settled and unknown. 1t is now a grea
empire rich, prosperous and happy, an
! the money of the people which made tn
; highway possible, has been returned (
them in OVERLOOKING measure.
Whenever a Republican Administrative
is in power there is constant talk o
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