The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1915-03-13
HAMMOND SOUNDS
CAMP AICN KEYNOTE

Offttft utUtt III AtNVII
milwaukee Evening wisconsin,
Republicans of Milwaukee and Will
eonsin came into their own once more
at the Hotel Pfister Saturday night,
when more than 400 assembled to hear
talk on genuine Republican prinei-
Piles and to organize a club for the
promotion of Republican ideas through
tn, commonwealth.
1t was an inspiring feasting board.
The large dining room was completely
filed there was room for the walters
to move about, but no more 1t was
not tribute to John Hays Hammond
and DIR. John Wesley Hill, the New
Workers who came to Milwaukee to ad-
dress Republicans Of this state; it was
tribute to the Republican party, the
party of Lincoln, Mckinley and Of
Taft.
Wit Colors Hills Speech.
DR.. Hills witicisms at the expense
of Secretary Bryan and President Will
son were the choice morsles of the
evening. His talk abounded in cpl
grams and short stories. He said he
was not standpatter, neither pro-
gressive of the kind that goes forth
with tinkling cymbals. Talk, he said,
did not make progress. Not until
Bryan is returned to the desk of the
weekly editor in Nebraska and Wilson
to the desk of the sehoolmaster in
New Jersey, said Dr. HiH will pros
perity again rule over the United
States.
War Boon to Democracy
Mr. Hammond devoted himself to
statistics and facts concerning the de-
velopment of the Republican party in
the trade and territory of this country.
He suggested an educational campaign
that, he thought, would eonduce to
Republican victory next year.
! heartily endorse all that has
/ been said with reference to such an
educational campaign" he said
From time to time there is an
awakening of the American people
and something happens in American
| political history. We have a country
unparalleled in the diversity and rieh-
ness of its natural resources; a coun-
/ try at peace with all the world, the
/ Democratic war tax to the contrary
notwithstanding, and in spite of these
most propitious conditions, we see evil
dence on all hands of the empty din
ner pail the bread line, charity com
mittees and hard times social func-
tions-evidenee of distress to all ex-
eept a certain school of somnambu-
lists and expert psychologists.
War Not Responsible
81 am not referring to conditions
aseribabie TO the war. for, as a matter
of fact, these conditions obtained be-
fore the deplorable war began; and,
indeed, there can be no question that
the war, instead of aggravating these
ameliorate them, but has resulted in
averting national financial calamity
"Let me illustrate this point-and
would ask the indulgence of your
patience, because the subject is some
what dry, but one of great Importance.
Our nation has an annual balance
of trade-a favorable balance of trade,
so-ealled-resulting from an excess of
exports over imports, amounting to
several hundred millions of dollars
annually. Tn 1913, before. the financial
monstrosity known as the "Under-
wood law came into effect, our
credit balance amounted to about
$3.50, 100000. Unfortunately, this is not
a net balance to our credit, since from
this sum must be deducted our indebt-
edness to European fnanciers, for:
"First-Payment of loans made to
this country, interest on investments
and dividends on American securities
held abroad which amout to about
$250,000,000 annually. AS you know
we are debtor nation, having borrow
cd r1 of 000
600 for the development of our nation
al resources.
Second-The sum of $150,000,000
to $17O,000,0 900, annually, in money,
to meet drafts and letters of credit of
Americans travelling and residing
abroad.
"Third-Remittanee abroad by inn
migrants for investments in their home
country estimated at from $l50,000
600 to $3.50, 100000 annually, and,
Finally-Remittanee to European
financiers amounting in the net to
about $l25,000,000 annually for pay
ment of freight carried in foreign bot
toms. Therefore you will see that, in
spite the favorable trade balance, we
break about even in our foreign com
merce.
Consider War a Boon
"This is most important point,
since il establishes the fact that our
nation must have an annual balance
of trade in it's favor of upwards of
5000, 1000, 900 or be compelled to sub
init TO the draining of its gold reserves
in order to meet its foreign financial
obligations. That is to say, that we
must, by an excess Of American ex
ports Of American products, meet the
obligation to which | have referred.
Unfortunately, the Underwood tariff
has resulted in excess of imports over
exports, which would have wrought
the greatest damage to our financial
standing if, as | have stated before,
the oceurance of the war had not avert
ed the catrostrophe.
"The war has been, in effect, an i'm