Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1900-06-19

N4AC SOuS VI llLcLl, dlu ZIG lives III LAS
he left behind.
There is
One great society alone on earth
The noble living and the mob dead"
So many ven of great portent have
been crammed into the past months, that
We are apt to judge and measure the
work of this administration chiefly by
the occurrences since the outbreak of the
Spanish war. 1t is worth while for US to
recall earlier days..
When Mr.. Mckinley became president
he took the reins of government after
four years of democratic administration.
For the first time in more than a genera
tion democracy had full sway, with both
houses of congress in party accord with
the Nc summary of the un-
merciful disasters of those four years can
an idea Of a tithe of the ruin they
wrought.
CLEVELAND'S ADMINISTRATION.
In the four ; ears preceding Mr.. Cleve-
lands administration we had paid 260
millions of the national debt; he added
23O millions to it's burdens. He found a
tariff act, bearing the name of his sue
cessor and u president fitted to meet
the requirements Of our necessary ex-
penditures, to furnish the needed pro-
lection to our farmers n manufacture
ers, and to insure the steady and re-
munerative employment of those who
abor. Instead of permitting the MANI
facture and commerce that repose and
stability of law which are essential for
working out economic conditions, he at
nce recommended violent and radical
changes in revenue and tariff provisions,
recommendations which his party in
s ongress - proceeded Par partially and d lsaS,
of his policy is still fresh in the memory
of millions who suffered from it. In four
years the country witnessed some &C, 1000
commercial failures, with liabilities ag-
gregating more h 900 millions of dol
lars. One hundred and se~venty-seven
railroads, with a mileage of 5000 miles,
OF twice the circle of the globe, n with
securities amounting to nearly three
billion of dollars, were Unable to meet
their interest charges and passed into the
hands of receivers. More than 40 ma
tional banks closed their doors, with
liabilities reaching 70 millions; wool and
all farm products which tariffs could
affect, lost tens of millions in value; farm
mortgages were foreclosed by thousands
throughout the great west; our agricul-
tural exports shrunk in value; the bal
nee of trade which had been in our favor
turned ~ruinously against us; the national
treasury was depleted of it's gold reserve;
our government bonds were sold to syndi-
Gates at far below their market value be-
fore or since, and our steadily declining
revenues were insufficient to meet he
necessary expenses of conducting the
government. If capital alone had suffer-
ed, the loss would ave been great, but
not irremediable. Unfortunately those
who rely upon their daily labor for their
su%stenance, and their families dependent
upon them, constituting the great
of the American people, were made to
feel heaviest this burden of disaster.
Nearly one-third of the laboring popula-
tion of the United States were thrown
out of employment, n men by thous-
ands, able and willing to labor, walked
the highways of the land clamoring for
work or food.
Four years of commercial misfortune
enabled our industries to meet, in a meas
ure. these changed and depressed con-
ditions, but when President Mckinley
was inaugurated the country was in a
state more d~eplorable than had existed
for a generation.
Facing these diniculties, the president
Immediately upon his Inauguration con-
vened congress in extra session. and in a
message of force and lucidjty summarized
the legislation essential to u national
prosperity. The Industrial history of the
United States for the past four years is
the tribute to the wisdom of his judg-
ment. 1T is quickly e~pitomized.
The tariff measure under which we are
now conducting business was preceded
by an unusual volume of importations
based upon common knowledge that GER
tain duties were to be raised; the bill met
TIE popular uciIldAu thol utlCo ia many
of the necessaries of life should be low
cred and not raised; a in inven-
tion and new trade conditions made 1T
unnecessary and unwise to revert to the
highest tariff provisions of the law of
1890: the increases in the revenue pro-
visions were slight. Yet, notWithstand-
ing all these facts. tending to reduce in
come. the revenues from the Dingley bill
marched steadily upwards. until soon
our normal income exceeded our normal
expenditure, n we passed from a con-
dition OF threatened insolvency to one Of
national solvency.
REVIVAL OF TRADE.
This tells but a small fraction of the
story. Under the wise provisions q our
tariff avs and the encouragement afford
ed to capital by a renewal of public con-
fidence, trade commenced to revive. The
looms We're no longer silent and the mills
deserted; railway earnings increased,
merchants and resumed business,
labor found employment at fair wages,
our exports increased. and the sunshine
of hope again illumined the land. The
figures tina illustrate the growing pros
perity of the four years of republican ad-
ministration well nigh stagger belief.
There isn't an idle mill in the country to-
day. The mortgages on western farms
have been paid by the tens of thousands,
and our farmers are contented and pros
porous. Our exports has reached enor-
nous figures; for the last twelve months
our exports Of merchandise will exceed
our imports by $50 millions of lila
Our manufactured articles are finding a
market all over the world n in con-
stantly increasing volume. We are rap
idly taking our place as one o. the great
creditor nations of the world. Above and
beyond all, there is no man VINO abors
with his hands, in all our broeo CONAN