The Brookings register. [volume] (Brookings, Brookings County, S.D.) 1903-1971, 1920-10-14
SHAW ADDRESSES VOTERS

Il
Governor Leslie NJ. Shaw of Iowa
and former treasurer of the United
States, addressed a large gatherin.
Of the voters Of Brookings at the Pleas
ant Hour theater last Thursday even
ing in the interests of the republican
party.
Governor Shaw said in part: There
are two essentials Of "A market, need
and ability TO pay. At the close OF
the Civil war the South needed many
things, but bought only what her Grip
pied resources would permit, very
little. A bankrupt world is now in
sorest need, but unfortunately most
of it is wholly unable TO pay. 1t must
produce first, then sell and after that
it can buy.
Before the World war began Great
Britain, France, Italy and Russia had
an aggregate estimated wealth of
$245,OOO 600 600. The United States
had an estimated wealth 5000, 900 900
larger than this aggregate - larger
h the combined wealth of our four
European associates. One of the lead
ing staticians of England recently
gave his conclusion that Great Britain,
France and Italy had suffered losses
in underlying wealth, while the wealth
of the United States had increased
probably 40 per cent.
Germany and Austria Hungary had
before the war an estimated wealth
of 1925, 000, 000, 5000, or one-half that
of the United Staes. These countries
have lost all their colonies, much
other territory, ships and no end of
reparation material.
Russia is self-consumed, but with
an unknown amount Of worthless fiat
money outstanding as a perpetual
handicap.
How about public debts. The pub
lie debts of England, France and Italy
aggregate practically so per cent of
their pre-war wealth. When their
indemnities are determined the debts
of the Central powers will aggregate |
full so per cent of their pre-war wealth.
Our debt is only 10 per cent of our
wealth, or 7 per cent of our |
present estimated wealth. If we offset
against our debt what other nations
us it will reduce our debt to
per cent of our estimated wealth.
Keeping these admitted facts in
mind the question forces itself upon
us whether it is better to produce
with the certainty Of selling to Ameri-
cans or in the hope of selling to Euro
peans. The answer also forces itself.
THE United States could prosper
though al the rest of the world were
plotted Out. We can prosper though
loose every dollar of principal and
interest that other nations w rs
The only thing We cannot do and pros
Der is to leave our markets exposed
is at present, under the Underwood
ariff law the lowest in our history
the lowest of any nation on earth,
lot excepting free trade England. II
Fields less than 7 per cent on all i'm. i
The democratic tariff of 1916, I,
lnder which Horace Greeley said.
fully onequarter of New England !
vent through the sheriff's MILL" aver |
Ecd seven times as high.
Please do not suppose the demo
ratio party will give Americans an .
dvantage in their W markets. Thejr :
ariff plank of 1912, approved in each
invention since says: We declare I
to be a fundamental principle of !
democratic party that the federal .
overnment, under the constitution. :
no right or power to impose or I
ollect tariff duties except for pur. :
oses Of revenue only :
II our markets are to be protected :
rom an ~inundation of foreign prod. .
cts that will force millions of our :
aborers into the street the republj- ]
party will have to erect the bar. :
Don't invite revolution by stop. :
ing the constant flow of the paw en-. 8
=