Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1904-08-04

culation forAevery business need; and every
dollar of this circulation is worth dollar
in gold. We have reduced the in
terest- bearing debt and in still lar
ger measure the interest on that debt. All
Of the war taxes imposed during the
Spanish war have been removed with q
view to elieve the people and to prevent
the accumulation of an unnecessary
surplus. The result is that hardly ever be-
fore have the expenditures and income Of
the government 80 closely correspondent.
In the fscal year that has Just closed the
excess of income over the ordinary ex-
penditures was nine millions of dollars.
This does not take account of the fifty
millions expended out of the accumulated
surplus for the purchase of the lsthmian
Canal. 1t is an extraordinary proof of the
sound financial condition of the nation
that instead of following the usual course
in such matters and throwing the burden
upon posterity by an issue of bonds, we
were able to make the payment outright
and yet after it to have in the treasury a
surplus of one-hundred- and-sixiy-one mill
lions. Moreover, we are able to pay this
fifty millions of dollars out of hand With
out causing the slightest disturbance to
business conditions.
THE TARIFF LAW.
1--WE have enacted a tariff law under
which during the past few years the coun-
try has attained height Of material we'll
being never before reached. Wages are
higher than ever before. That whenever
the need arises there should be readiust-
ment of the tariff schedules is undoubled;
but such changes can with safety be made
only by those whose devotion to the prn-
ciple of protective tariff is beyond ques-
ton; for otherwise the changes would
amount not to readjustment, but to repeal.
The readjustment when made must main
tain and not destroy the protective prn-
ciple. To the farmer, the merchant, the
manufacturer this is vital; but perhaps no
other man is so much interested as the
wage-worker in the maintenance OF our
present economic system, both as regards
the finances and the tariff. The standard
of living of our wage workers is higher
than that of any other country, and it
cannot so remain unless we have a protec-
tive tariff which shall always keep as a
minimum a rate of duty sufficient to cover
the difference between the labor cost here
and abroad. Those who, like our oppo-
nents, "denounce protection as a rob-
berry," thereby explicitly commit them
selves to the proposition that if they were
to revise the tariff no heed would be paid
to the necessity of meeting this difference
between the standards of living for wage
workers here and in other countries; and
therefore on this point their antagonism
to our position is fundamental. Here
again we ask that their promises and ours
be judged by what has been done in the
immediate past. We ask that sober and
men compare the workings of the
present tariff law, and the conditions
which obtain under it, with the workings
of the preceding tariff law of 1894 and the
conditions which that tariff Of 1894 helped
to bring about.
eve believe in reciprocity with foreign
nations on the terms outlined in President
last speech, which urged the
extension of our foreign markets by recip-
rocal agreements whenever they could be
made without injury to American industry
and labor. 1t ls singular fact that the
only great reciprocity treaty recently
with Cuba-was finally OPP
posed almost alone by the representatives
of the very party which now states that it
favors reciprocity. And here again we
ask that the worth of our words be judged
by comparing their deeds with ours. On
this Cuban reciprocity treaty there were
at the outset grave differences of opinion
among ourselves, and the notable thing in
the negotiation and ratification Of the
treaty. and in the legislation which carried
It into effect, was the highly practical
manner in which, without sacrifice of prin-
,ipe, these differences of opinion were
-econciled. There was no rupture of a
great party, but an excellent practical
the result of the harmonious CO.
operation of two successive Presidents and
,wo successive Congresses. This is an IL
ustration of the governing capacity which |
entities us to the confidence Of the people,
lot only in our purposes, but in our prac-
ical ability to achieve those purposes.
Judging by the history Of the last twelve
'ears, down to this very month, is there
for believing that under sim.
lar circumstances, and with similar initial
differences of opinion, our opponents
would have achieved any practical re-
ult?
eve have already shown in actual fact
hat our policy ia to do fair and equal jus-
ice to all men, paying no heed to whether
man Is rich or poor paying no heed to
lie race, his creed or his birthplace.
CAPITAL AND LABOR.
ave recognize the organization of cap
.al and the organization Of labor as the
atural outcomes of our Industrial system.
ZACH kind of organization is to be favored
D long as it acts In spirit of justice and
f regard for the rights of others. Each
to be granted the full protection Of the
wv, and each in turn is to be held to
riot obedience to the law, for no man is
bove it and no man below it. The hum