Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-10-30
AS THE PEOPLE VIEW 1T

check. That party steadily op-
posed every measure which tended
to strengthen the national govern
ment, and consistently opposed all
measures looking to the making of
internal improvements. such as
roads and canals, by the national
government, and early became the
advocate of a tariff for revenue
only or Of free trade. The first
protective tariff was enacted
shortly after the creation of our
government under the constitution,
and in spite of democratic opposi-
ton continued in varying forms
until the adoption of the tariff of
1916 which has been known as the
free trade tariff and fixed duties
on imports at the lowest rates
which ever have been known in the
history of our country. The disas-
trous effects of this tariff were de-
layed for some years. first by the
Fictitious prosperity created by the
war with Mexico and next by the
enormous production of gold in
California which continued for
quite a long time. Beginning about
1854 the tariff Of IS began to
get in" its deadly work which cul-
minated in the great business panic
Of 1857. the most dreadful of all
panics we have ever had. The re-
publican party came into power in
1861, and one OF the first great
achievements was the enactment of
what has been known as the Nor
rill tariff, the earliest which gave
anything like adequate protection
to American industry, under which
trade, commerce and manufacture
grew and expanded enormously
The republican party between 1851
and 1855 put down the rebellion
of the southern states and preserv-
ed our national government and
the union of states as they have
continued to the present time
by the republican party have con-
tinued and kept up cur material
progress but always against the
opposition of the democratic party.
During the civil war the republi-
can party created our system of
national banks and practically de-
stroyed the old state banks of issue
which were always a menace to the
business affairs of the country.
Under that old system, If it can
properly be called a system at ALL
a man from Boston would journey
from home no farther away than
New York, with his pockets full of
bills issued by Massachusetts
banks, could not tell from day to
day how much his money might
be worth in New York or in any
other state. Time and space will
not permit a more detailed state
ment of the great achievements Of
the republican party but attention
should be called to what has been
done by the great democratic
party.
The principal thing which the
democratic party has carried to q
successful conclusion was the war
against the repu lie of Mexico,
which 1t initiated and carried on
for the purpose Of extending and
increasing the slave territory Of the
United States. That war is the
only one in which we have ever
engaged of which right-minded,
patriotic Americans must feel
ashamed. 1t should not be forgot
ten by the people of this state that
shortly after the United States
acquired New Mexico. its people
framed constitution for state
which distinctly prohibited human
slavery and therefore received no
attention from the then dominant
democratic party. Had it not been
for that provision in the proposed
constitution there can be but little
doubt that New Mexico would have
become state not long after the
termination of the Mexican war,
although its population at that
time was not large.
In recent years the democratic
party claims great credit for the
establishment of the federal re-
serve bank system. but, in this
connection 1t Is interesting to note
the fact that the provisions of law
creating that system did not origi-
nate with democrats, as / am in
formed by banking experts. but
were the creation Of Senator Aid
rich of Rhode Island. than whom
no republican has ever been more
bitterly illuminated by democrats,
and, had 1t not been for demo-
cratic opposition that system OF
banks would have come into exist