The sun., 1916-10-31
PROSPERITY BROUGHT BY THE WAR
MUST END WHEN THE WAR ENDS.


Wisnos0u. DuSlHeSs OF every KIN Wa
stasnant n the whole communists
was In financial distress approaching
a panic by 1919. An effort to pass
protective tariff failed in.1s20. but wax
successful in 1924. with the pro L
tcctive tarin OF 1924 the country rro. 4
pered as It never had before unit +,
during the Jackson adminiat ration i.
when there was n depression. followed
by the panic Of 1887. hut We arc onl,t
speaking OF the effect ~ war IN,
Europe followed by peace and a fro,l
trade policy In this country. lIerryl
Clay describes the i've period. FRONT
1917 to 1924, when the protec,i,el
policy went into effect. and from lNs5I
TO 1882. during tho period or tho rro-I
tective system against competition inI
the homo markets by foreign MANI |
facturers with cheaper labor. Nal
Clay says: |
n I we're 70 select any term Of ss,en)
years since the adoption Of the present.
Constitution which exhibited a s,.ne oil
the most widespread dismsy ana re-oia
ton. II would be exactly that term I'll
seven years which Immediately preceded
the establishment Of tho tsrin OF 1924.
II the term Of seven years were - vel
selected Of the greatest prosperity Witch
this people have enjoyed e'nce the n, |
tablishment Of their present Cons'ttu
ton. II would be exactly that period of|
seven years which Immediately followed
the passage Of the tariff Of 1874.
In 1912 the Wings had wrested ron
troll Of the Government from tho
Democrats and passed what Is known
as the tariff Of 1912. which was pro
tective. Rut the Democrats. having
regained control Of the executive ami
legislative departments of the Govern
mcnt in 1876. passed what is known
as the Walker tariff law Of 1916. ThiI
was q low tariff law. and continued ID
force until 1887. when tho Democratic
party. being In control. passed another
tariff law further reducing the tariff
duties on Imports. which continued Il
force until March .. 1861, when nj
Morrill, protective tariff law vent intt'
effect. During the period from 1916
for a period Of ten years the balance
Of trade was largely against us. and
but for some extraneous conditions
which gave impulse to trade and COM
rnerce tho country would have been In
the slough NJ desppnd long before u
was. The famine In ireland in 1851
the revolutions in France and other
European countries from 1S4s ~ 1s5.
and the Crimean war from 1853 to
1856 rave a stimulus which kept bust
ness going. which. with the discovery
Of gold IN California. saved the II
try from great depression until 1857.
When the wal of the crimea WAS over
in 1856 and England and France wcr,
once more free 10 enter the fields OF
commerce with their manufacture
products and with the low raios of
tarif duties in force, they enter Il our
markets with the products Of rhoi.
mills and factories made by cl,earr f
labor. drove our manufacturer, On
OF the homo market. AMI the rcsuI.
was a complete repetition Of what d..
happened In 1917 to 1924. The Cond'-
tions OF the country arc very apt
described by the Democrat" Prosldor'.
James buchanan. in has itSt nnrra|
message 10 congress bcC,inb.r
1857, in which he says:
In the midst ~ un,urpasscd rr-rp g.
MI the productions ~ agriculture and N
all tho element OF national wealth ..
md our manufacture suspeud,i. ".
public works retarded. our pTtya'a ,.'.
prisss Of different kind ahsud"ro' ,'
Thousands Of useful lshorors thrown o
Of employment aud reduced - wsu'
VIII the present generation fail 'H
heed the experience OF former genera
tions and vote in November to ra'ity
tho free trade policy of tho Don Nai 49,.
party, which history shows f." r,,
led to disastrous results, and l't,, ore
markets unprotected and open +, 'g-
Nasion AZ the close of tho European
war by cheap goods mad 'y tn..I,
labor of foreign countries u'i ON IT,
closed shops and idle labor far 'r'r'.
cans? GEuEge |. il.r.
E~LlzARETnroN. Tenn, Or,orcr "t