Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1904-07-21

ries on revenues, circulation, tariffs
and internal improvements. During all
of this period on these subjects demo-
cratic thought was in the ascendant. |
Since 1861 there has been republic |
can period of forty-three years, less
eight. Let me invite your attention to
some comparisons. During the first
period in our foreign commerce the
balance of trade was against us in
all Of the years save fifteen and in
were about S150,000,000. In the other
fifty-seven years the balances were
against us in an aggregate Of S1,100,-
100000. That is we bought from the
people of other nations $1,100,000,000
worth more than we sold. We Great
ed a debt for the necessaries of life
amounting to this vast sum that we
had to pay by sending out of the coun-
try our gold, our silver, our bonds, our
stocks, whatever was movable that
our creditors would take in payment
Of the debt. These were years Of tar
if for revenue, practical free trade so
far as building up of our own home in
dustries were concerned. 1t Is true
that for short intervals during the
period we had tariff laws that were
called protective but such tariff laws
only existed for short time and at best
we're insufficient in their rates and
were so constantly assailed by the
Democratic party that they gave but
little permanen. AID in creating or di-
versifying opportunities for labor.
But in 1851 we began system of
NV
timte to time improving the details,
changing our rates very many times,
but holding on inflexibly to the idea
of protecting our own labor, preserving
our own markets, charging our labor
field. and increasing the wage Of our
working men. Our last and best
effort in this direction we call the
Dingley bill 1t has been in force but
seven years. 1t has changed most
wonderfully the aspect of economic
affairs. We are no longer a debtor
nation. The balance of trade is no
longer against us. We are no longer
sending abroad our gold, and bonds,
and stocks, to pay for necessarias con-
sumed. During this period of seven
years the balances of foreign trade
have been nearly four billions of
dollars in our favor. The people of
other nations are sending us their gold
and their valuables in payment for
what they buy from us until we have
nearly one-third OF all the known gold
in the world as part of our circulat-
| ing medium. At the end of the first
period of which 1 have spoken our
circulation was little over four
| hundred millions II ia pow seynn
times that amount. The dem ocratic
party in giving Judge Parker per-
] mission to think and act as he pleases
4 upon the question of the gold standard
and cognate matters, giving him per.
mission to run amuck at his own
sweet will among all their cherished
ideas or ideals, putting them up or
tearing them down just as ne pleases
i justifles this abandonment of all that
was dear to them four and eight years
ago, and all that was SO important to
the American people, by the suggestion
that within the last few years the
! production of gold has been SO
enormous as to entirely destroy their
old theories about the necessity Of
sixteen to one and the horrors thai
would follow the establishment of q
gold standard Of measure The late
production of gold is woefully-out
rageously. exaggerated by democrats.
But If 1t were not so exaggerated VI
must remember that 1t is not the
1 United States that produces vas;
increase from the mines The pro
1 Continued on page ~