Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1900-09-06
Achievements Of the R publican Ad-
ministration Are Without
Parallel. B.
AMERICAN INDUSTRIES ARE PROTECTED.
National Honor and Public Credit
Ably Upheld by President Mckin.
ley-DipI0matic Triumphs In For
.eign Affairs - Honorable Acquisi-
ton of Valuable Outside Territory.

The changed condition of the country
and the general prosperity Of the peo-
pie under the administration of Presi-
dent Mckinley is an occasion for con-
graduation.
Let us consider some of the
grand achievements which have
wrought so marvellous change in the
short period of three years and half
On the 4th of March, 1897 the scepter
departed from Judah and the inaugu-
ration of republican president oc-
Cured. For four years under demo-
cratic rule the land had been frescoed
with misery and fringed with distress;
with the advent of republican admin
istration the horizon so long curtained
with despair at once frightened with
hope and the air so long heavy with
the anxious entreaty of enforced dlers
asking of compassion the crumb OF
charity became vocal with the happy
harmony of requited toll, factory and
forge, forest and farm joining in the
grand anthem, filing the heavens with
the din Of nations industry. The
progress we have made as nation since
the Inauguration of President McKin-
ley is without parallel in history.
The republican party came into
power pledged to the policy Of protec-
tion to American enterprise and Amer
lean TOLL that pledge was fulfilled on
the 24th day of July. 1891 by the enact
ment of the Dingley tariff law, which
not only reestablished the policy of
protection. restored confidence and
wooed back departed prosperity. but
at the same time clothed the president
with power to enter into reciprocal ar
rangements with other nations for the
enlargement of American markets.
Under the operation of the new tariff
law idle labor finds abundant en-
ployment, manufactures have in
creased, ample revenue has been
secured, and as nation we have
entered apon commercial conquests
unprecedented in all time; in 1898,
one year after the law became op-
eratiye. cur exports for the first time
exceeded the domestic exports of
Great Britain. and year later, in 1899,
our foreign trade was the largest we
ever had, exceeding in the aggregate
the sum of $1,000 100000, the balance
of trade in our favor reaching nearly
S500.OG00OO. and will during 1900 ex-
ceed S550.000,000.
During the three years Of the present
administration from March /, 1897, to
March l, 1900. the excess of exports over
imports has been nearly or quite four
times greater than during the entire
period from the organization of the re-
public down to the end of Mr.. Cleve-
lands first term, and still the good
work goes on, as the report for 1900
will show an increased export trade,
and that one-third of our exports will
be the products of our busy toilers in
factory, furnace and mill. The clear
ing house statements show an increased
business of $4,000 ,OO0, 900 each year of
Mr.. McKinley's administration. In
1896 the reports show an aggregate of
$50 O.0OO,O0O while in 1900 the ex-
changes aggregate 800, 900, 100000. Such
enormous increase has been made pos
sible by the republican policy of pro-
lection to home industry.
The present administration came into
power pledged to the maintenance of
the public credit; the public credit has
not only been maintained, but has been
raised above that of any other nation.
The war with Spain necessitated a
loan, and congress with great unanim-
ity authorized bond issue Of $780,
100000. Only one-half of the amount
authorized has been issued. The sec.
retary of the treasury believed that
an issue of bonds to the amount OF
S200.000.000 would be sufficient, and Of \
fered the same for popular subscrip-
tion. The civilized world marveled at
the eager patriotic response Of the
American people, who within 80 days
subscribed for s1,400, 100000 being
seven times more than was called for.
The maintenance of the public credit
was established by the enactment of
a law early in the present year which
virtually and effectively places the gov
eminent on a gold basis. thus recog-
nizing that standard which commerce
and civilization long since crowned.
Coupled with this memorable achieve
ment may be mentioned the refunding
provision Of the law which authorizes
the issue of two per cent bonds for the
redemption Of outstanding bonds.
amounting to 100000, bearing
three and four per cent. interest, near
ly one-third of the debt was funded
within two months after the passage
Of the law by an exchange for a like
amount s26oO0o,OOO of the two per cent.
bonds. which are the lowest interest
bearing bonds ever issued by any ma
tion, being three-fourths per cent. less
interest than the debt Of Great Britain
bears.