The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1904-07-29

SsSA~ ~ CtA VIC h4Eo" "Aol We
mean when We speak OF an honest
and stable currency. We mean III
same thing from rear to year We do
not ave to avoid a definite asld con-
elusive m on the most i'm
portant issue which mas recently been
before n people. and which my at
any time in the neal future be before
them again. Upon the principles
which underie this issue the convic-
lions OF half of our members do not
clash with those Of the other half. So
long as tie republican party is in
power the gold standard is settled.
not as a matter of poliu-
cal expediency, not because of shift
ing conditions in the production of
gold in certain mining centers- but in
accordance with what We regard as
the fundamental principles of nation
al morality and wisdom.
Under the financial legislation which
We nave enacted there Is now ample
circulation for every business need:
and every dollar of his circulation
Is worth a dollar in gold. We have
reduced the interest-bearIng debt a1i
In still larger measure the interest on
that debt All Of the war taxes i'm
posed during the Spanish war have
peer removed. with a view to relieve
the people and to prevent the
Iation of an unnecessary surplus
Inc result is that hardly ever before
nave the expenditures and income of
the government so closely correspond
ed. In the fiscal year that has lust
closed. the exces of income over the
ordinary Expenditure was nine mil
lions OF dollars This does not take
account Of the fifty millions expended
out or the accumulated surplus for
the purchase of the isthmian canal.
II is an extraordinary proof Of the
sound financial condition IF the ma
III thu nzfan
usual course in such matters and
throwing the burden upon posterity
py an issue of bonds, We were able TO
make the payment outright and vet
after 1t to have in the treasury a sur
plus of one hundred and ~sixty-one
hnilIions. moreover, we were able to
pay this fifty millions of dollars out
of hand without causing the
disturbance to business conditions.
we have enacted a tariff law under
"nlcn during the past few years he
country has attained a height of mate
ria well-being never before reached.
mat whenever the need arises there
should be a REIMBURSEMENT Of the tariff
scneduleS is ~undoubted: but such
changes can with safety be made only
by those whose devotion 20 the princi-
pie of a protective tariff is beyond uues-
tlon: for otherwise the changes would
amount not to readjustment but to re-
peal The readjustment when made
must maintain and not destroy the pro-
tecuVe principle. 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 eco
nomic system, both as regards the fl
nances and the tariff. The standard
OF living of our wage-workers is high
er than that of any other country, and
! Z Dnn MT CO
protective tariff which shall ALWAYS
keep as a minimum a rate of duty suH-
cent to cover the difference etween
the labor cost here and abroad. Those
VINO. like u opponents. "~denounce pro-
lection as a robbery" thereby explicitly
commi themselves to the proposition
that if they were 10 revise the tariff no
heed would be paid to the necessity OF
meeting this difference between the
standards of living for wage-workers
here n in other countries; and there
fore on this point their ~antagonism to
our position is fundamental. Here again
we ask that their promises and our be
judged by what has been done in the
immediate past. We ask that sober
and sensible men compare the workings
Of the present tariff law. and the con-
ditions 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.
We believe in reciprocity with foreign
nations on the terms outlined in Presi-
dent Mckinley's last speech, which
urged the extension of our foreign
markets by reciprocal agreements
they could be made without
injury to American industry and labor.
1t is a singular fact hat the only
great reciprocity treaty recently adopted
that with Cuba-was finally opposed
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 differ
ences Of opinion among ourselves; and
the notable thing in the negotiation and
ratification Of the treaty and in the leg
iSlation which carried it into effect,
was the highly practical manner in
which without sacrifice of principle
these differences Of opinion were recon-
ciled. There was no rupture Of a great
party, but an excellent practical out
come, the result of the harmonious CO.
operation of two successive presidents
and two successive congresses. This is
an illustration of the governing capaci-
ty which entities us to the confidence
of the people not only in our purpose
out IN our practical ability to achieve
those purposes. Judging by the history
of the last twelve years, down to this
very month, is there justification for
believing that under similar circum-
stances and with similar initial differ
ences Of opinion, our opponents would
have achieved any practical result?
We have already shown in actual fact
that our policy is to do fair and equal
justice to all men,, paying no heed to
whether a man is rich or poor; paying
no heed to his race, his creed, or his
birthplace.
We recognize the organization of cap
ital and the organization of labor as
natural outcomes of our industrial sys-
tenn. Each kind of organization is to
be favored So long as it acts in a
spirit of justice and Of regard for the
rights of others. Each is to be grant
ed the full protection of the law. and