Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1902-03-20

izing of business affairs in the hands
of corporations that have absorbed
competing industries all over the
country.
Our people may we'll ask them
selves why they are called upon to
foot the bills in the shape of tariff
taxation in order that these trusts
may stife competition and reap divi.
dends which are not earned. This VIII
be an important and leading issue OF
the campaign as it is one that cor
Germs the daily affairs Of every bread
winner and voter in the land.
"The American people will not be
hoodwinked into a disregard Of the
necessity of tariff reform by a subter
fuge in the shape Of reciprocity IL
fe winstances when reform in the
tariff should be general. Reciprocity
might afford relief in spots but it will
not permanently relieve the people
from unjust and oppressive taxation
such as was placed upon them by tho
party in power under the plea Of les
islation to protect infant Industries
''The present prosperity of the
country is due to natural causes and
not to legislation. We have the ma
terial the world wants and needs. II
that material, if our products, if finistl
ed output of our factories can be sold
to foreign consumers at q price far
below that asked Of our own people,
is it not time to consider this cconom-
ic question and enact legislation that
will enable our own people to buy our
own products at prices at which for
eign nations have them?
"A reduction Of taxes is alays de-
sirable. This should De upon lines
which will relieve the great body OF
the people. ard not a relief only to
the rich.
The tariff question will never be
settled until it is settled right and I'M
til the Democratic policy of a tariff
sufficient only to meet the expendi-
lures of the government economically
administered is the law of the coun-
try
Then, and then only, will the bur
den Of taxation be brought down to a
minimum, and not until then will there
be an economical administration of
public affairs. 1t is as impossible to
prevent the reckless expenditure of
funds with an Overlooking treasury as
it is to stop the onward flow of the If
resistible Mississippi in its journey to-
ward the gulf.
"In 1896 we cOntended that there
was not a sufficient volume of basic
money, metallic money. This insult
dciency of metallic money had been
the cause of the prevailing low prices
for the previous twenty years. Events
proved the truth Of the contention. We
argued that this condition should be
met by the free coinage of silver as
we'll as of gold.
whether from fright at the mani
fest strength of the party in 1896, or
tallic money was increased wonder
fully thereafter. There was coined in
the world in 1886. in round numbers
s195,000,o00 of gold, in 1897, $436,000,-
900 almost twice as much as was coined
the year before; in 1898 $685., 1000, 900
was coined. In 1899 the worlds coin
age Of cold aggregated $466 900 900.
This increased the volume of the
money so as to relieve the dearth of
money and increase prices so that
there is no furter pressing demand
at this time for further increase OF
coinage. The logic of events proved
the correctness of the Democratic
theory in 1896. The necessity ex-
listed for an increase in the volume of
the currency. and the relief was effect
ed through the increased coinage OF
gold, just as it would have been
through the increased coinage of gold
and oliver.
Increase in the volume of business
may and probably will require a fur
Their increase in the volume of metal
lie money to keep pace with it, and in
such case if there is not a sufficient
Increase in the coinage of gold to meet
this necessity the demand for the un-
limited coinage of silver may, and
will, ,,gain become acute
JAMES K. JONES'"
lealoIev CaueoS kitiipo