The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1908-08-24

election is necessary to prevent a
panic?
I nave referred to two of the three
panics, both of these coming under
conditions which compel the Repub-
lican party to accept the responsible
ty for them. Now, let US consider the
panic of 1898. If that could be proper
ly charged to the Democratic party,
it would only be one Democratic pan
ic to two Republican panics. But can
it be fairly charged to the Demo
Gratis? It came, it is true, a few
months after the Inauguration of a
Democratic president, but it came
while the Mckinley high tariff was
still in effect and before a single Re
publican law a been repealed, and
it came from causes that were in op-
GRAFTON before the election. In fact,
it was the failure of the Republican
party to do it's duty and satisfy the
people that brought about a Demo
cratic victory. and these causes would
have brought on a panic, even If the
Republican party had remained in
power. Now, this is the record, aud
yet, in spite of this record, the Re
publican candidate presumes to
threaten a panic in case of Demo
cratic success.
The third proposition which the
protectionist must establish, namely,
that the tariff asked for is necessa-
ry, is still less considered. 1t is true
that we pay higher wages per day
than are paid elsewhere, but that
does not necessarily lean that the &C
tual labor cost of an article is higher
here than abroad. On the contrary,
the rule is that high priced labor pro-
duces a cheaper article than low
priced labor. Manufacturers of hard
ware will tell you that they can ex
port hardware which contains a great
deal of labor and a small amount Of
raw material, but that they cannot
export hardware In which the raw
material constitutes a large proper
ton of the value. We are sending |
manufactures If steel all over the |
world. The steam engine, for ms
lance, is made by skilled labor, and
yet we can send it abroad and defy |
competition. Our electrical machin-
cry is made by skilled labor, and yet
we v no fear of foreign competi-
ton, even in b foreign markets. |
Our agricultural machinery is made
by skilled labor, and yet we export
it TO all countries. Our sewing ma
chimes are manufactured by skilled
labor, but the American traveller
finds our sewing machines every
where; and the list could be extend
ed Indefinitely.
For twenty-five years the American
working man has been told that he
receives higher RACES than the Eng
lish workman solely because OF pro-
lection, but our wage earners now
lection, because the English work
man receives higher wages than the
German workman, although the Ger.
nan tariff IS higher thar the tariff j
If Great Britain. Ii
Protection does not make good l
wages. Our better wages are due to
greater intelligence and skill of
'ur workmen, to the greater hope I
which free institutions give them, to
improved machinery, to the better I
conditions that surround them, and :
o the organizations which have been
ormed among the wage earners a
A revenue tarif will not bring a c
sanic; it will not inaugurate indus e
rial depression: it win not reduce Il
ages; on the contrary. 1t will slim Il
business and give more employ o
lent. and a larger demand for labor o.
ill be a guaranty against the reduc- T