The Elbert County tribune., 1900-03-29
frmAnc,AL lrpEpenp.Ncs.

try should bc free ana independent IN
Its financial Affairs. ns II is in Its po-
llticnl ones. and the Republican party
and administration is being denounced
on every occasion because It viii not
adopt policy which. to use favorite
expression, twill deliver US from the
tyranny OF the money sharks of 11om-
bard street." the said Lombard street
being popularity supposed to be the
abiding place OF the head officers Of the
great European money trust.
All this foolish talk of the denim
sogues is sufficiently absurd Mt any
time but It Is particularly 30 under
present conditions. For, while the
Democratic pnrty has been yelling for
financial Independence the Republican
party has been quietly nt work estab-
fishing financial Independence, making
this country independent OF foreign
control In money matters and even
turning the balance the other way SO
that the European countries. instead OF
coming to us as creditors demanding
the payment OF interest due them. now
appear as borrowers willing to pay
libcrnlly for our financial assistance.
The first step towards this highly
desirable condition wns made when
the DInglcy bill was substituted for
the vicious and Inconsistent Wilson
tariff law. Undoubtedly a large part
Of the disaster attending the Cleveland
administration was due to the tariff
law that threw open the American
markets to foreign competition and
deluged our people with cheap and In
ferior goods while our own factories
were idle and our workmen uncm-
ploycd. The passage OF the Dingley
bill not only checked these importn-
tions and gave employment to our
workmen. but It also turned the bal
nncc Of trade once more In our favor
and made 1t necessary for the nations
Of Europe to send us lnrge amounts Of
cash every year in settlement of the
trade balances instead of calling on
us for immense sums OF gold as was
the case under the Democratic Wilson
bill
The facts bearing upon this import
ant matter are concisely set forth In n
recent speech by Congressman Will
lam Alden Smith of Michigan, recently
delivered at Grand Rapids, In the
course of which he said:
"TEe month OF February, 1900, has
made the most remarkable record of
any February In the history of our for
eign commerce. The exports during
that month have averaged S5,000,oO0
for every business day in the month.
and the total exports for the month Of
February nlone amount to $11g, 765,-
762. or more than twenty-five per cent.
greater than that of any preceding
February since the government of the
United States was born.
mot only are the exports larger than
those OF any preceding February, but
the excess of exports over imports is
also much larger than in any preceding
February, surprising those of 1893
by nearly twenty-five per cent. and
being more than fifty per cent. In ex-
cess of any earlier year.
"February is the month of heavy i'm
portntions, and 1t frequently happens
thnf the imnnrfa- -axnaad-fhA ---s----4-,-
so that an excess of $50. .901 .612 In ex-
ports over imports In February makes
IL
one.
"Despite the fact that the importa-
tions. which amounted to SOS, TIA, 100,
were slightly larger than those of any
preceding year. except 1893, the rela-
tive Importance OF the February of
1900 record will be more clearly seen
when 1t is stated that the average
February exports during the last ten
years were $78.OO0,000 per MONTH
while the total exports of February
this year, as already stated. were
$119, ,T65, ,762.
"On the other hand. the average
February imports of the preceding de
cade were S81, 100000, making the
average February excess of exports
over imports during that time 5,00O,-
900; while that of February, 1900, is
S50,901, ,612. This makes the total ex-
portations Of the eight months ending
with February about $75,0O0, 900
greater than that of the corresponding
months Of the fiscal year 1890 and
makes 1t apparent that our total ex-
ports In the fiscal year ending June
Both will exceed those of any preced-
ing year by probably 500. .OOO, 900, and
carry the total commerce OF the year
considerably beyond the $4,000. .OO0, 900
line"
The second great step towards finan-
cial independence was made when this
country, under the leadership OF the
Republican party, adopted n settled
financial policy. Entirely apart from
whether that policy was the best pos
sIble under the circumstances, or the
money standard on which we do not
approve, there can be no doubt that II
was an immense advantage to the
business interests when the election OF
1893 determined the political complex
lon of the United States Senate for
long series Of years, and put the none
tary standard OF this nation out OF the
domain OF political agitation for an
equal length of time. Upsetting as the
tariff question is to every business
calculation based upon term OF years,
1t is a small matter as compared with
uncertainty as to the money standard
which IL the very hasis of NIL cotu.