Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1912-02-03
SOME TARIFF HISTORY.

. "A
lican club of Pittsburg the other night,
senator Penrose Of Pennsylvania
brought out some facts for the consld'
Grafton Of the young men bearing on
the past history OF tariff leglslatlon'
He said:
Since Mckinley was elected a new
generation of voters has grown up
men who did not vote or were TOO
young to realize the conditions prior
to 1897 and the uncertainty OF the
presidential struggle and the great e1'
forts put forth to achieve success are
now In the vigor of mature mannooa.
! It is not surprising perhaps tnat IN
I the minds of many If not most OF them
18th sues Of 1896 and the unfortunate
conditions prevailing prior thereto
should have become forgotten, II ever
thoroughly realized. Constant edu-
cation regarding the real issues IS
needed. Perhaps the bitter teaching
Of experience may again be necessary
to restore q real knowledge and ap-
probation Of the vital issues of the
republican party. -....... 49,
Many of us, however, will recall the
conditions prevailing during the period
of democratic supremacy. The mere
menace of democratic success imme-
diately brought about the great de-
preston in business of 1893 and 1894,
which, unlike the pantcs Of former
periods, was not the result of monetary
conditions but came almost solely from
the fear of the results of political
change. 80 .
Reviewing the history of the depres.
sion following the election Of 1892 and
the passage Of the Wilson tariff bill,
measure which he estimated cost the
country in business loss and stagna-
ton more than the entire cost of the
civil war, Mr.. Penrose said:
During the first year OF 'tarih re-
form there was decrease OF over
1Oh per cent in the number of persons
employed, of nearly 1873 per cent in
the total wages, and of nearly a similar
percentage in the average wages paid
which In the following year were still
further reduced nearly II per cent. And
there was a reduction of over Is per
cent In the value of the products"
1T is the misfortune of tariff legisla'
ton he said in conclusion, "that it is
peculiarly the subject of misrepresenta.
ton. Interests antagonistic to the pro-
tective system and the outcry of those
concerned in the importation of for
eign goods bring about reaction.
Thus William Mckinley was defeated
after the enactment of tariff legisla-
ton productive of prosperity in the
country only to return again after an
era Of democratic supremacy as presi-
dent Of the United States elected upon
the tariff issue. "&
"The Dingley bill of all our tariff
laws remained longest on the statute
books, but hardly had the Payne bill
been enacted into law before the ques-
ton was again opened by those en-
gagged in the constant agitation for
further tariff revision.
4 1.-THE great prosperity which was
started under the Payne law in many
Industries was soon curtailed by the
vi certainties brought about by this
agitation. ~
"The settled policy of protection
covering continent and embracing
the Industries of 90,000O00 people has
been the cause of our magnificent
prosperity, and it cannot be over
thrown or tempered with except with
great disorder to industrial conditions
and disastrous results to capital and
..hor. Those who talk lightly of tariff
revision should recall the experiences
Of the past and should realize the
responsibilities of their task; and those
who support them in the effort should
consider seriously what the end
may be-