Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1904-09-01

y - -
BlLlTI." that followed past exploits
OF the Democratic party in the tariff
tinkcring line: Nevertheless he fully en-
dorses the admirable platform Of the
Democratic party with its program OF
attack on the tariff, but cautiously. how
ever, he takes good care to dispeI all
fears that the program can be success
full by announcing that:
1T is A FACT AND SHOULD BE
FRANKLY CONCEDED THAT
THOUGH OUR PARTY BE Sue
CESSFUL IN THE COMING CON
TEST WE CANNOT HOPE TO Sc
CURE A MAJORITY IN THE SEN
ATE DURING THE NEXT FOUR
YEARS. HENCE WE SHALL BE
UNABLE TO SECURE ANY MODI-
FICATION IN THE TARIFF SAVE
THAT TO WHICH THE REPUBLI-
CAN MAJORITY IN THE SENATE
MAY CONSENT"
Mr.. Parker is evidently well enough
posted on the way business had been
disastrously affected by previous at
tcmpts to remodel the tariff on Demo
cratic lines. or else he would not
in his acceptance speech. while Civ
ing it IA his belief that there could he
"a wise and benefcent revision Of the
tariff have further said. without Great
ing chat sense of uncertainty and in
stability that hes on other occasions man
ifesied itself"
There has. indeed. been a curious ia
tally in the coincidence Of tariff revis-
ion. in this country. with trade reaction.
The Tariff Acts of 1872. OF 1883, and Of
1894, IN every case accompanied or
shortly preceded period Of serious com
mercial distress. 1t cannot well be
questioned that the Democratic practice
of ripping up by Wholesale compli-
Gated import tariff is pretty sure to de-
range at least one seasons plans in the
Industries affected, and it is apt 10 throw
out of employment thousands of people.
also TO make bad miscalculation as to
future public revenue.
Following tue new tariff law in March
lSS3, public revenue decreased $4,000.
600 in the twelve months ending with
June, 1884. and something like SO 5000
900 in the fiscal year 1885; and IN 1884
the financial situation reached a crisis
The financial uncnsiness OF that year
caused 1884 to be considered n panic
year
The Panic of 1903.
In 1893 a calamtous panic beginning
In the spring months was synchronous
with that sense Of uncertainty and in
stability" which had followed the cleo
ton OF both a President and a Congress
pledged to free trade. The passage OF
the Wilson bill the following year az
gravated the industrial disasters. This
bill not only did direct damage to man
ufacturng industry everywhere through
out the country, but il had disastrous eff
feets on the nations credit. because ii
caused the revenues to drop heavily be-
low the expenditures and thus forced the
government to draw for its routine ex-
penses on the treasury gold reserve
which was needed to preserve the gold
standard OF value. The revenue from
this bill fell short of the estimates OF
it's Democratic trainers by no less sum
than $S7 100000 and this, including its
sugar import tax, which many of the
Democratic leaders, including President
cleveland himself. had been bitterly o
posed To. The bill produced deficit of
$42. 500, DOB in the fiscal year 1895. and
So, 2U3.245 in 1896,
-Four years of gloomy business depres-
sion throughout the cGuatry was the
price paid for this buugling attempt at
'tarif reform" by the Democratic party.
IL was marked by intense suffering on
the part of large section of the Amer
lean people who could get no work to
do Mt even the lowest wages.
"THAT SENSE OF UNCERTAIN
'TY AND INSTABllITY' lasted four
OF WILLIAM McKl NLEY. Those
I a..
trade rule marked the saddeSt chapter
In American industrial history. The
losses TO the country nduStrially. fnan-
cially. and commercially were probably
greater than during the four years OF
Civil War. lS6l-a when the nations
resources were naturally enough strain
cd ia the uJmo>t aud peaceahle indus
trial pursuits had to be largely aban-
dope0
Two Periods Compared.
The uctuo' business effects from
THAI SENSE OF UNCERTAINTY
AND INSTABILITY" that Mr.. Park
ar frankly alluded TO in his speech Of ne
ceptance as occurring during one OF the
''occasious" connected with tariff revis-
ion are well portrayed 10y few con-
deu>cd random abstracts from Brad
streets covering the month Of July,
1898. when THAT SENSE OF IN
CERTAINTY AND INSTABILITY"
arising from the fear OF tariff reduc-
tinn was exceedingly aggravated, and
was resulting in general business dis
aSter and Industrial paralysis,
\ Dark Chapter.
The abstracts, to which attention is
called. follow;
July 3. 1897; Operations were 70
sumel on Monday in the Washington
mills at Washington, K, l., empoyjag
50 weavers,
at Il conference of the employing
plasterers aud workers, New Nurk terms
favorable 10 all interests were drawn up
and agreed upon.
Tube department and sheet mill OF
the Reading Iron Works resumed oper.
ations. The tube defartment employs
700 men snd the sheet mill will give
$50 men work,
"The blooming and steel departments
" the north mill Of the Lackawanna
Iron and Steel Company started On sim
gle turn Tuesday.
Present indications point TO the COM