Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1910-04-05

His speech was just such an effort as
it WAS expected he would make. He
is one of the men who depend upon
books alone mstead Of practical ex'
perience for an education.
Men who set theory ahead Of prac-
tice In the every day life of a govern
ment, are always free traders, and Mr..
Wilson is no exception to the rule. The
gentleman has high ideals. They are
so high, indeed, that il Mr.. Wilson
was to start In to build a house, ne
would likely start with the tip OF the
lightning rod, instead of with the
foundation.
Theoretically, free trade is fine,
but when practically applied to this
country, it has Invariably put the
poor man out Of a home and into the
street.
In his recent effort, Mr.. Wilson
states that he is thinking of the
tariff. we are pleased to know that
he is now devoting some time and
thought to the tariff. II he had taken
time to think about the tariff before
he wrote. his History Of the American
People," he would have written a bet
ter history. 1t would also have saved
him the expense OF lot Of paper ne
wasted in labored effort to find a
reason for the panics of 1897 and 1898.
He uses pages, and pages and pages
telling about the United States bank
and finances, when the fact is that
after the tariff act of 1888 was enact
ed the United States had no need for
a bank, because until the tariff OF 1S42
became a law. f did not have enough
money to FIJI dime savings bank
Andrew Jackson was first elected
president in 1928, just after the enact
ment of a protective tariff law. This
law remained in force five years. us
effect must have. been good, Tor IN
1882. President jackson, in message
to congress, said:
"O,1r country presents on all sides
marks. of prosperity and happiness
unequalled perhaps in any portion OF
the world"
In 1888, however, he signed a bill
that was the cause of the panic u
1897. It was the Compromise tariff OF
1888, which provided for a gradual re-
duction of all tariff schedules that
we're above 20 per cent, so that at the
expiration Of ten years, all tariff scheo-
ules should be reduced to 20 Der cent
The tariff of 1928 produced so much
revenue for the government that COW
cress did not know what to 40 with
the money. 1t discussed plans iof
spending the surplus in internal lni-
movements and even distributing II
among the states. However, after the
Compromise tariff Of 1888, providing
for a gradual reduction. became law
congress was not confronted WIN any
problems relating to surplus: Wltn-
in five years public revenues haa 1al-
len off one-fourth and the government.
was borrowing money. This panic OF
1897 was like the old lady's fever: ~
les run for long time as bad as IL
could be, and then suddenly got
worse
This panic continued until the pas.
sage Of the protective tariff law OF
1910 This was signed by President
TYLER, and went back practlcally 10
the schedules of the tariff bill OF 1873
and went into effect in Septenl'
Der, 1912. =
TO give an idea Of the prices OF
farm products under a low tariff. we
.ouote from Colton's life of Henry
Clay:
an Ohio. with all her abundance, II
was hard to get money to pay taxes
The sheriff of Muskingum county, as
stated in the Guernsey Times. in the
summer of 1912. sold at auction, ten
hogs at 6A cents each; two horses at
50 each: two cows at 81 each. IN
pike county, Missouri, as stated by
the Hannibal Journal, the sheriff SOLO
three horses at $3.50 each; one large
OK at 1917 cents; five cows, two steers
and one calf, the lot at 1925; 20 sheep
at 1879 cents each; and "a hogs, the
lot at Is cents"
In New York state land at that time
rented for from 81 to SIS year for
each 100 acres. In 1889 the tenants
refused payment, held anti-rent meet
ings, paraded the country in masks and
disguises, attacked and killed sherlns
and collectors. All industries were
practically closed and there was no
employment for anyone. The country
was in the most deplorable condition.
The protective tariff of 1912, mad
been in operation less than three years
when President Polk submitted
message to congress which contained
the following:
Labor in all it's branches is re-
ceiving ample reward, while educa-
ton. science and the arts are rapldly
enlarging the means OF social nap
piness. The progress Of our country
in her career Of greatness, not only
in the vast extension of her terrltorlai
limits, and in the rapid increase OF her
population, but in resources and wealth
and in the happy condition OF our PEG
pie, is without an example in the MIS-
tory of nations
The cause for the panic of 1893, IS
lust as plain as the cause OF the panic
of 1897 The remedy applied was the
same in both cases. 1t was a protec'
tive tariff law. 1t cured the patient
Mr.. Wilson knows the cause OF these
nanics. but for him to admit it, would
eliminate the opportunity for a lot G.
free trade oratory. There are some
practical things that cannot be learn.
ed entirely by the study of Latin aad
Creek We do not know of anyone