Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1904-07-21
HEPBURN REVIEWS HISTORY.
CONTINUED from page 81

duction is largely from other coun
tries and it comes to us, or al least we
obtain our share of it. through the
balances of trade that are in our
favor. The production of gold by ,he
world outside of the United States
might be many times greater than
stated by leading democrats and yet
no benefit come to us under free trade
theories, where the balances of trade
were against us. Even if we produce
1t in the United States under these
theories our experiences would lie the
same as they were from Al to 81
During this period the mines of the
dred millions of gold, yet We lad but
two hundred millions of gold in 1890
We had free trade. We were buying
abroad. The balances were against
us, and the gold was exported TO pay
for necessary manufactures tina. we
ought to have made but that we did
buy In 1860 the wealth of the United
States was shown by the census to
be sixteen billions. 1t is now believed
to be one hundred billions.
/ In 1860 the value of the marufac-
tured products in the United States
was one and three-quarter billions Of
! dollars. Last year it was fourteen
| and half billions of dollars These
are results Tangible things, infinitely
/ more satisfactory than theories. And
yet there are people who are constantly
| prating about the necessity of chang
ing this statute that has done so much
for us. People who are our friends
join with our enemies to strike down
that statute of wisdom that has done
more than any other single factor to
bring us the blessings that distin-
guish us and our people from all other
lands and all other people
Some OF our friends are greatly dis
.turbed about extending our foreign
markets. This is desirable beyond
question. yet there is danger in pay
ing too high for this extension. Our
annual production of wealth is about
twenty-one billions of dollars. Our
this sum manufactures contribute
fourteen and half billions; agricul-
ture about five billions; the mines and
this vast sum we sell about a billion
and a half abroad. 1t is in the home
market that we dispose of nearly TWEEN
ty billions of our annual production.
These immense domestic sales are
made possible by the high wages paid
to labor. The demand for labor is
created by preserving to it the home
market The home market of today is
the product Of republican tariff
schedules.
In 1892 the declaration of our party
upon this subject said: THAT on ALL
imports coming into competition with
the product of American labor there
should be levied duties equal to the
difference between wages abroad and
at home" This declaration so clear
and explicit that ALL competing pro-
ducts should be upon the dutiable
schedule precludes the idea of reci-
procity in competitive articles.
In 1896 we said: Protection and
reciprocity are twin measures of re-
Democratic rule has recklessly struck
established Protection for what we
produce; free admission for the neces
saries of life which we do not pro
duce." There are gentlemen who
grow facetious at the thought of re
ciprocity in non-competitive articles
They decry it as silly, if not impossi
BILE, and yet here the whole republican
party, in discussing the subject of re
ciprocity, declares that free admission
must be confined to that which We dc
not produce.
In 1900 the party said: eve favor
the associated policy of reciprocity, SC
directed as to open our markets or
favorable terms for what we do no
ourselves produce in return for free
foreign markets" Again we declare
that free entry is to be confined tt
that that we do not ourselves produce
In this year we have said: eve
declare our constant adherence to thu
following principles: Protection
which guards and protects our indus
tries, is cardinal principle of the re
publican party. The measure of pro
lection should always at least equa