Logansport Pharos-Tribune from Logansport, Indiana on August 30, 1896 · Page 10
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August 30, 1896

Logansport Pharos-Tribune from Logansport, Indiana · Page 10

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THREE BIG ISSUES with Weal or Woe for the United States. •DIET, PROTECTION, EEOIPEOOITT Thest Are the Ones Major McKinlty fitelares To Be Paramount ip Hi* Letter of Acceptance. ALTER ISSUE FIRST DISCUSSED. of tlie nopubllona Leader'* Argument Doing 1 That Froo SIlv«-r MMUM -Silver MonoinetnUium—Tho !'<•• publican Petition Stated — Protection, Open MI1U Instead of Mint*. Held To B. the Rwnedr tor the lite That Af- CUot the Country—What Ho Sny< of llic Reciprocity and Other Plunk* In tlia Flatform. Canton, O., Aug27,—Major McKluley's Utter of accep*vnco was issued yesterdny. It Is as follows: Hon. John M. Thurston and others, imembers of the notification committee of •heRepublican national convention: Gentlemen: In pursuance of the promise made to your committee when notified Of my nomination a» the Bopublican candidate for president, I beg to submit this formal acceptance of that high honor, and to consider In detail questions at issue in the ponding campaign. Perhaps this night bo considered unnecessary in view of my remarks on that occasion and those I have made to delegations that have visited mo since the St. Louis convention, trat In view of the momentous importance of the proper settlement of tho issues prp. •ehted on bur future prosperity and •tending as a nation, and considering oulv the welfare and happiness of our people. I could not bo content to omit again calling attention to tho questions which in xny opinion vitally affect our strength and petition among tho governments of the world and our morality, Integrity and (patriotism as citizens of that republic which for a century past has boon tho best hope of tho world and the inspiration of Mankind. We must not now prove false to our own high standards in government, nor unmindful of tho noble example and wise precepti of the fathers, or of tho son- fldenco and trust which our conduct in tho past has always inspired. The FrBO Coinage of Silver. For the first time since 1868, if over before, there is presented to tho American people this year a clear and direct issue as to our monetary system, of vast Importance in 4ts effects, and upon the right settlement of which rests largely the financial honor •nd prosperity of the country. It Is proposed by one wing of the Democratic party and its allies, the People's and Silver parties, to inaugurate tho free and unlimited coinage of silver by independent action on tho part of tho United States at a ratio of sixteen ounces of silver to ono ounce of gold. The mere declaration of this purpose ID a menace to our financial and Industrial Interests and has" already created universal alarm. It Involves great yeril to the credit and business of tho country, a peril so grave that conservative men everywhere are breaking away from their old party associations and waiting with other patriotic citizens lu emphatic protest against the platform of the Democratic national convention as an assault upon tho faith and honor of tho government and the welfare of the people. We have had few questions In tho lifetime •f the republic more serious' than tho ono which U thui presented. Character of Money Important. Th* character of the money which shall •leature our values and exchange! and Httle our balances with one another and with the nation« of tho world is of such primary importance and «o far-reaching In iti con«equence§ as to call for the most pain*taklng inve»tlgatlon, and In tho end A »ober and unprejudiced judgment at the -foils. We must not be misled by phrases, aor deluded by false theories. Free silver would not moan that iilver dollars wore to be freely had without cost of labor. It would mean th» free u»» of tho mints of th* United States for tho few who' are owner* of silver bullion, but would make •llvorcoln no freer to tho many who are engaged in other enterprises. It would not make labor easier, tho hours of labor •horter or tha pay butter. It would not make farming less laborious, or more profitable. It would not start a factory or make a demand for an additional day'« labor. It would create no now occupations. It would add nothing to tho comfort of the maisei, the capital of tho poo- pie or the wealth of the notion. It seeks to Introduce a new measure of value, but would a-Jd no value to the thing measured. It would not conserve values. On the contrary, it would derange all existing value". It would not restore business confidence, but its direct effect would be to destroy tho llttlo which yet remains. Meaning of the Coinage Plank. Tho moaning of tho coinage plank adopted at Chicago Is that any one may take a quantity of silver bullion now worth 58 cents to the mints of tho United States, have it coined at tho expense of tho government and receive for It a sllvor dollar which shall bo legal tender for th« payment of all debts, public and private. The owner of tho sllvor bullion wonld got the »llver dollar. It would belong to him and to nobody else. Other people would get it only by their labor, tho prodaoU of their land, or lomething of value. The bullion owner on tho basis of present; values wonld receive tho silver dollar for 53 cants' worth of silver, and other people would be required to receive It as a full dollar in the payment of dobts. Th« government would get nothing from tha transaction. It would bear the expense of coining the iilver and tho community would suffer losn by its use. We havo coined «lnce 1878 more than 400,000,000 of iilver dollars, which an maintained by the government ,»t parity with gold, and are a full legal tender for th« payment of all dobts.publlcand private. How are th* illrer dollars now in u«o dlf- fcrttt from thoaa which would be In u»* under free coinage? They are to be of the lame weight end flnenein; they are to bear the fame «t/uup of the government. Whj th» Yaloe Would B« Different. Why would they not be of tho tame Tain*? lanit'er: The iilver dollar! now la UM were coined on account of the gov- •ram*nl Md uot for private account,or agreed to keep them a« good, as th'a best dollar* we have. The government bought ihe silver bullion at its market value anil coined it Into nilver. Having excliifclv* •octroi of the mintage it only col'nt whWt It can hold at a parity with gold. The profit representing- the difference botwetn the comnwolHl valu" of the iilver bullion and the face value of the silver dollar goea to the government for the benefit of the people. Tha government bought the silver bullion contained in the silver dollar at very much less than it« coinage value. It paid It out to Its creditors and put it In circulation among tho people at Iti face value of 100 cents, or a full dollar. It required the people to accept it a« a legal tender and Is thus morally bound to maintain it at a parity with gold, which was then, an now, the recognized itandard with ui and the most enlightened nations of the world. The irovarnment baring Issued and circulated the silver dollar it must In honor protect the holder from loss. This obligation It has so far been sacredly kept. Not onlj- is there a moral obligation bnt there is a legal obligation, expressed in public Bttitute, to maintain tho parity. Could Xot lie Kopt nt Par. These dollars in the particulars I have noinud nro not tliu «:uue as the dollars which would be issued under free coinage. They would be th- same in form, bnt different in value. This government would have no part in the transaction except to coin the silver bullion into dollars. It would share iu no part of the profit. It would take upon itself no obligation. It would not put tlio dollars into circulation. It could oulv gut them as any citl- BCU would get them—by giving something for them. Ic would deliver them to those who deposited the s.lvcr, and its connection with tho transaction there end. Such are the silver dollars which would be Issued under free cointigo of silver at a ratio of lli to 1. Who would then maintain tho purity? What would keep thum at par with gold? Thero would bo no obll gallon resting upon tliygoverninent to do it, and If there were it would bu powerless to do it. Tho simplo truth is wo would be driven to a silver basis—to silver mono- metallism. Thuso dollars, therefore, wonld stand upon their real value. If the free and unlimited coinage of silver at a ratio of sixteen ounces of silver to ono ounce of gold would, as some of its advocates assert, make 03 cents in silver worth 100 cents and tho silver dollar equal to the gold dollar, then we would havo no cheaper money than now and it would bo no easier to get. But that such would be tho result is «gainst reason and is contradicted by experience in all times atid in all lands. It means tho debasement of our currency to tho amount of tho differ- once between tho commercial and coin value ot tho silver dollar, which Is ever changing, and tho effect! would bo to ro- duco property values, entail untold financial loss, destroy confidence, impair the obligations of existing contracts, further impoverish tho laborers and producers of tho country, create a panic of unparalleled severity, and inflict, upon, trado and commerce ti deadly blow. Opponed to That Kind of Policy. Against any such policy I am unalterably opposed. Bimetallism cannot be secured by Independent action on our part. It cannot be obtained by opening our mints to the unlimited coinage of the silver of the world at a ratio of sixteen ounces of silver to one ounce of gold, when the commercial ratio is more than' thirty ounces of silver to one ounce of gold. Mexico and China have tried the experiment. Mexico has free coinage of silver and gold at a ratio slightly in excess of sixteen and a half ounces of silver to one ounce of g-old, and while her mints are freely open to both inetals at that ratio, not a single dollar in gold bullion Is coined and circulated as money. Gold has been driven out of circulation In these countries and they are on a silver basis alone. Until International agreement ia had it is the plain duty of tho United States to maintain the gold standard. It Is the recognized and sole standard of the great commercial nations of the world, with which we trade more largely than any other. Eighty-four percent, of our foreign trade for the fiscal year 1805 was with gold standard countries and our trade with other countries was settled on a g-old basis. Circulation of the Two IVIotali, Chiefly by means of legislation during and since 1878 there has been put In circulation more than $624,000, 000 of silver or Its representative. This has been done In the honest effort to give to silver, if possible, the same bullion and coinage value, and encourage the concurrent use of both gold and silver as money. Prior to that time there has been less than $9,000,000 of silver dollars coined in the entire history o£ the United States, a period of eighty-nine years. This legislation secures the largest use of silver conslst- and with financial safety and the pledge to maintain its parity with sold. Wo have today more silver than sold. This has been accomplished at times •with grave peril to the public credit. The so-called Sherman law sought to use all the silver product of the United States for money at Its market value. From 1890 to.lS93 the gpverment pur- Chased 4,500,000 ounces of silver a month, or 54,000/000 ounces a year. This was one-third of the product of the world and practically, all ' of this country's product. It was believed by those who then and now favor free coinage that such use of silver would advance its bullion to Its coinage value, but this expectation was not realized. In a few months, notwithstanding .the unprecedented market for tho silver produced in the United States the price of silvprwcnt down very rapidly, reaching cS lower point than ever before. Then, upon the recommendation of President Cleveland, both political parties united In the repeal ot the purchasing clause of the Sherman law. We cannot with safety engage In .further experiments In this direction. TALKS OF THE DOUBLE STANDARD. Bellevei In It But Thlnki It Impowiul. at Thl» Time. On the 22d of Auguit, 1891, in a public address, I laid: "If we could have an international ratio which : all the nations of. tho world would adopt and. th* true relation be fixed between tha two metals and all agree upon the quantity of silver which should constitute a dollar, then iilver would bo as freo and unlimited in Hi privileges of coinage ai gold is today. But that we have never been able,to se- aure, and with the free and unlimited coinage cf illyer adopted in the United States'at th* prewnt ratio we woald be able to secure' l'( if we enter upon the isolated coinage of silver. The double standard implies equality at a ratio, and that equality can only be established by tho concurrent law of nations. It was the concurrent law of nations' that made the double standard; it will require the concurrent law of nations to reinstate and sustain It." Th* lUfaubllean party has not baen and is not now oppoled to tho use of silver money, as Its record abundantly 'shows. It has done all that could bo done for its increased use with safety and honor by the United States, acting apart from other governments. Thero are those who think that it has already gone beyond the limit of financial prudence. Surely we can go no further and wo'must not permit false lights to lure us across the danger lino. We have much more elver lu uso than any country in the world except India or China—$500,000,000 more than Groat Britain, $150,000,000 more than Franco, HOO,000,000 more than Germany, $325,000,000 less than India and $125,000,000 less than China. The Republican party 'has dc- elared in favor of International agreement, and if elected president it will bo my duty to employ all proper means to promote it, The free coinage of silver In this country would defer, if not defeat, international bimetallism, and until an international agreement can be had every interest requires us to maintain our present standard. Independent freo coinage of silver at a ratio of sixteen ounces of silver to one ounce of gold would insure tho speedy contraction of the volume ot our currency. It WOUK| drive at least 500,000,000 of gold dollars, which wo now have, permanently from tho trade of the country and greatly decrease our per capita circulation. It is not proposed by the Republican party to take from the circulating medium of the country any of tho silver we now have. On tho contrary, it is proposed to keep all of the silver money now in circulation on u I parity with gold by maintaining the f pledge of the government that all of it shall be equal to gold. This has been the unbroken policy of tho liepubllcan party since 1S7S. It has inaugurated no now policy. It will keep in circulation and as good as gold all sllvor and paper money which are now Included in tho currency of the country. It will maintain their parity. It will preserve tholr equality in the future as it has always done in the past. It will not consent to put this country on a silver basis which would inevitably follow Independent free coinage at a ratio of 18 to 1. It will oppose tho expulsion of gold from our circulation. If there is any ono thing which should bo free from speculation and fluctuation It is tho money of a country. It ought never to bo tho subject of mere partisan contention. When wo part with our labor, our products, or our property wo should receive in return monoy which is as stable and unchanging in value as tho Ingenuity of honest men can make it. Debasement of the currency moans destruction of values. No one suffers so much from chca.p money as tho farmers and laborers. They are tho first to feel its bad effects and the last to recover from them. This has been the uniform experience of all countries, and here, as elsowhoro, tlio poor and not the rich are tho greater sufferers from cuery attempt to debase our money. It would fall with alarming severity upon Investments already made; upon insurance companies and their policy holders; upon savings banks and their depositors; upon building and loan associations and their members; upon tho savings of thrift; upon pensioners and tholr families, and upon wage earners and the purchasing power of their wages. The silver question 16 not the only Issue affecting our money. In the ponding contest. Not content with urging the free coinage of silver, its strongest champions demand that our paper money shall bo issued directly by tho government of the United States. This is the Chicago Democratic declaration. The St. Louis People's declaration Is that "our national money shall bo issued by the general government only, without tho intervention of banks of Issue, bo full legal tender for the payment of all debts, public and private," and bo distributed "direct to the people, and through lawful disbursements of tho government," Thus, in addition, to tho freo coinage of tho world's silver, wo are askod to enter upon an era of unlimited irredeemable paper currency. The question which was fought out from 1865 to 1879 Is thus to be reopened with all its cheap money experiments of every conceivable form foisted upon us. This indicates a most startling reactionary policy, strangely at variance with every requirement of sound finance; but the declaration shows the spirit and purpose of those who by combined action are contending for the control of the government. Not satisfied with the debasement of our coin which will inevitably follow tho free coinage of sliver at 16 to 1, thoy would still further degrade oui currency and threaten the public honor by tho unlimited issue of an irredeemable paper currency. A graver menace to our financial standing and credit could hardly bo conceived and every patriotic citizen should bo aroused to promptly moot and effectually defeat it. TUK "CLASSES AGAINST THE MASSES." Policy the Republican Candidate Consider* Reprehensible. It is a cause for painful regret .and solicitude that an effort is being.made by those high in the counsels of the allied parties to divide the people of this country Into classes .and create distinctions among us which in fact do not exist and are repugnant to our form of government. These appeals to passion and prejudice .are beneath the spirit and intellgence of a free people, and should be met with stern rebuke by those they are sought to influence and i believe they, will be. Every attempt to array class against class, "the classes against the masses," section against section, labor against capital "the poor against the rich," or interest against interest In the United States, Is in the highest degree reprehensible. It is opposed to the national instinct und Interest, and should be resisted by every citizen. 'We are not a nation of classes, but of sturdy, free, independ* ent and honorable people, .despising the demagogue and never capitulating to dishonor. '•'... This over raourrlng effort endanger! popular government and Is a menace,to our liberties. It U not a new campaign device or party appeal. It is ai old ai government among men, but wai never more nMimely and unfortunate than how. Washington warned us against it and Webiter tald ,in the senate, ; In wordi which I f**l art singularly appropriate at monlsh every industrious laborer of'thls country to be on his guard against such delusion. 1 tell him the attempt is to play off his passion against his Interest and to prevail on him in tho name of liberty to destroy all tho fruits of liberty." TACKLES THE TARIFF QUESTION. Protection on -Iniue of Supreme Importance In Thin Campalfrn- Another issue of supremo importance that of protection. Tho poril of free silver Isa'manaeeto'bofeared; wo are already experiencing the effect of partial free trado. Th» ono muat bo averted; the other corrected. The Republican party is wedded to tfto doctrine of protection and was never more earnest in its support and advocacy than now. If argument were needed to strengthen its devotion to "tho American system" or increase tho hold of that system upon the party and people it is found in the lesson an-.i experience of the past three years. Men realize in their own daily lives what before was to many of them only report, history or tradition. Thoy havo had a trial of both systems and know what each has done for them. Washington, in his farewell address Sept. 17, 1796,100 years ago. wild: "As a very Important source of strength and security cherish public credit. Oi.e method method of preserving It is to uso itas sparingly as possible; avoiding the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peaco to discharge the debts which unavoidable wars may -have occasioned, not ungenerously throwing upon posterity the burden which wo ourselves ought to bear." To facilitate the enforcement of th» maxims which he announced ho declared "It is essential that you should practically bear in mind that toward the payment ot debts there roust be revenue; that to havo revenue there must be taxes; that no taxes can bo devised which are not more or less inconvenient or unpleasant; that the intrinsic embarrassment inseparable from the selection of proper objects (which is always a choice of difficulties) ought to be a decisive motive for a candid construction of the conduct of i ho government in making it, and for a. spirit of acquiescence in tho measures for obtaining revenue which tho public exigencies roav at any time dictate." Animated by like sentiments the people of the country must now 'ace the conditions which besot them. "The public exigencies" demand prompt protective legislation which will avoid the accumulation of further debt by provid ing adequate revenues for the expenses of the government. This is manifestly the requirement of duty. If elected president of tho United States it will .ba my aim to vigorously promote this object and T giv° that ample encouragement to the occupations of the American paoplo which, above all else, is so imperatively demanded at this juncture of our national affairs. , In December, 1893, President Harrison sent his last message, to congress. It was an able and exhaustive review of tho condition and resources of the country. It stated our situation so accurately that I am suro it will not bo amiss to recite his official and valuable testimony. ' "There never has been a tima in our history," ho said, "when work was so abundant or when wages were so high, whether measured by tho currency in which they are paid or by their power to supply tho necessaries and comforts of life, Tho general average of prices has been such as to give to agriculture a fair participation in the general prosperity. The new industrial plants established since Oct. 0, 1890, and up to Oct. 23, J893, number 345 and the extension of existing plants 108. The new capital Invested amounts to $40,440,000, 'and the number of additional employes 87 M85. During tho first six months of the present calendar year 135 new factories were built, of which 40 were cottos mills, 48 knitting mills, 20 woolen mills, 15 silk mills, 4 plush mills and !! linen mills. Of tho 40 cotton mills 21 have been built in tho southern states." This fairly describes tho happy condition of the country in December, 189a. What has it been since, and whatisitnowf Tho messages of President Cleveland from tho beginning of his second administration to tho present time abound with descriptions of tho deplorable industrial and financial situation of the country. While no resort to history or official statement is required to advise us of the present condition and that which has prevailed during the'past three years, I venture to quote from "President Cleveland's first message, Aug. 8, 1893, addressed to the Fifty-third congress, which ho had called together In extraordinary session. "Tho existence of an alarming and extraordinary business situation," said he, "involving the welfare and prosperity of all our people, has constrained mo to call together in extra session the people's representatives in congress, to tho end that through tho wise and patriotic exercise of tho legislative duties with which, thoy solely are charged tho present evils may bo mitigated and danger* threatening tho future may bo averted. Our unfortunate financial plight is not the result of untoward events, nor of conditions related to our natural resources. Nor Is it traceable to any of the afflictions which frequently chock national-growth and prosperity. "With plenteous crops,with abundant promise of remunerative production and manufacture, with unusual invitation to.safe Investment, and with satisfactory assurances to business enterprises, suddenly financial distrust and fear have sprung up on every side. Numerous monied Institutions have suspended beecause abundant assets were not immediately available to meet the demands of frightened depositors. Surviving corporations and Individuals are content to keep in hand the money they are usually anxious to loan, and those engaged in legitimate business are surprised to find that the securities they offer for'loans, though heretofore satisfactory, are no longer accepted. Values supposed to be fixed are fast becoming conjectural and loss and failure have invaded every, branch of business." WHY THIS SUDDEN CHANGE? The Major Flgorei It Oat Tli»t Iti Cause Wu Chang;* of Tariff Policy. What.a startling and sudden change within the short period of eight months- from December, 1892, to August, 18931 What had oocurredP A change of administration; all branches of the government had been entrusted to th* Democratic party, which was committed against the protective policy that had prevailed uninterruptedly for more than thirty-two years i and brought unexampled prosperity to the,'country,''and' firmly'pledged••:..to-Iti complete overthrow and the inbstttutlon j.< . ^^i«r<rn«~MT<nn« >nnlvj; 'Th* >ohanB6 having been decreed by tho elections in November it» effects were at once anticipated and felt. Wo cannot close our eyes to these altered conditions, nor would It bo wine to exclude from contemplation and Investigation tho cauyes which pro- duco.l them. They are facts which we cannot as a people dUregavd, and we can only hope to -Improve our present condition by 11 study of their causes. In December, 1892, we had the same currency and practically the same volume of curency that we have now. It world would not bring the necessaries and *>mforts of life back to our people. This will only come with the employ, mcnt o£ tlie masses, and such employment Is certain to follow the re-establishment of a wise protective policy which shall encourage manufacturing- at home. • " * The first duty of the Republican party, if restored to power In the country, will be the enactment of a tariff law which will raise all the monoy necessary to con- ume of curency tnat we nuve nuw. n. duct the government, economically and aggregated in 1892, $2.372.599,501, in j honestly administered, and so adjusted as 1893, $2,323,000,000; in 1894, $2,323.442,- j to give preference to home manufacturers 3Cii,'and In December, 1890, $2,19-1,000,-1 an( i adequate protection to home labor 230. The per oopHa of money lias been i and the home market. We are not com- practically the same during this whole i mittcd to any special schedule* or rates of ^riod The quality of the money has duty. They arc and should b« always sub- been identica?-all kept equal to gold! ject to change to meet new conditions, but There is nothing-connected with our the principle upon which rates of duty ar» money therefore, to account for this Imposed remains the same. Our duties Biidden and aggravated industrial .hould always be high enough to measura- chance Whatever is to be deprecated the difference between wages paid labor at in our financial system it must every- home and in competing countries, and to where be admitted that our money has adequately protect American investments, been absolutely safe and has brought and American enterprises. Our farmers have been hurt by the neither loss nor inconvenience to its holders. A depreciated currency has not existed to further vex the troubled business situation. It Is a mere pretense to attribute the hard times to the fact that all our currency Is on a gold basis. Good money never made times hard. Those who assert that our present Industrial and financial, depression is the result of the gold standard have not read American history aright, or 'been careful students of the events of recent years. We never had greater prosperity in this country, in everj- field of employment and Industry, than .in the busy years from 1880 to 1S92, during- all of which time this country was on a gold basis and employed more gold money In its fiscal and business operations than ever before. We had,'too, u, protective tariff under which ample revenues were collected for tho government, and an accumulating surplus which was constantly applied tc the payment of the public debt. Let us hold fast to that which we know is good. It is not, more money wo want; whp.t we want is to put tho money we already have at work. When money is employed men are employed.. Both have always been steadily and remuneratively engaged during all the years of protective tariff legislation. When those who havemoney luck confidence In the stability of values and investments they will not part with their money—business is stagnated, tho lifeblood of trade is checked and congested. We cannot restore public confidence by an act which would revolutionize all values, or an act which emails a deficiency in the public revenues. We ennnot Inspira confidence by advocating repudiation or practicing dishonesty. We cannot restore confidence, cither to the treasury or to tho people, without a change In our present tariff legislation. The only measure of a general nature that affected the treasury and the employment of our people passed by the Fifty- third congress was 1 tho general tariff aut, which did not receive the approval of the president. Whatever virtues may be claimed for that act there i* confessedly one which it does not possess. It lacks the essential virtue of its creation—tho raising of revenue sufficient to supply the needs of the government. It has at no time provided enough revenue for such needs, bul it has caused a constant deficiency In th« treasury and a steady depletion in the earnings of labor and land. It has contributed to swell our national debt more changes in our tariff lecislation as. severely as our laborers and manufacturers, badly as they have suffered. The Republican platform wisely declares in favor of such encouragement to our sugar interests "as will lead to the production on American soil of all the sugar which the American people use." Itpromlsestoourwooland woolen Interests "the most ample protection." a guaranty thatoushttocommend itself to «v- erypatriotic citizen. Never was a more grievous wrong- done the farmers of our country than that so unjustly inflicted during the past three years upon the wool- growers of America. * * * The Republican party can be relied upon to. correct these wrongs * * * RECIPROCITY WARMLY SUPPORTED-,. BcitiUx of tlie Blalne Treiitlen "Splendid,. StrlUinc «nd SnjfireuMve." Another declaration of the Republican. platfofru that has my most cordial sap- port is that which f."^j.'S reciprocity. The splendid results of tuc reciprocity arrangements that were made under authority of the tariff law of 1S90 ure striking and suggestive. Tho brief period they were in- force—in most cases only three years—was- not long enough to thoroughly test their great value, but sufficient was shown by the trial to conclusively demonstrate the importance and tho wisdom of their adoption. In JS!K the export trade of the United States attained the higheBt point in our history. The aggregate of our exports that year reached tho immense sum of $1,030,278,H8, n sum greater by $100,000,000 than the exports of any previous year In 1893. owing to the threat of unfriendly tariff legislation,the total droppad to $847,663,1^4. Our exports of domestic merchandise decreased S189,dOO,000. • * *' . The increase of trade with the countries -with which \ve had reciprocity. agreements was $3.560.515 over our- trade in 1S'.(2, and $16,440,721 over our trade In 1S91. The only countries with- which the United States traded that, showed increased exports In 1893 were- practically those with which we had. reciprocity arrangements. The reciprocity treaty between this country and Spain, touching the markets of Cuba and Porto Rico, was announced Sept. 1. 1S91. The growth of our trade, with Cuba was phenomenal. [Here figures are given showing how tributed to swell our natlona, debt more ^ reciprocity increased -with, than $262,000,000, a sum nearly as great as a Spanish-American countries, and. the debt of the government from^Wash- ^ " w|tfc the repea , of recl . ington to Lincoln—including all our lor- elgn wars from tho revolution to the re- P 7n mv Judgment congress should im- belllon. Since Ita^.ge.work athome m ™,™^ T ^ e the Reciprocity-see- has been diminished; prices of agricul- * ^^ amend _ E^VS^-ttp* j^j^-j^^-- ??^£$zss%x&«* - SL-rrh^erviruy^: 18U4 for the first twe.nty.two months of its ^>°" m ^ s Tttt^ neTnSrfcet* enforcement, from September IBM. to ^^; « > ]us aerlcultural ad manu . SsdzysSiSXi S3SA" .^r 1 ^ rr^rcr $82,803,036. The decrease in .our «port. ^erlCM ^^^^f^/^ OTHER PtATFORSI DECLARATIONS. Immigration, Pensions, Merchant Marine- and Civil Service Reform. Tho declaration of this platform touch- of American products and manufactures during tho first fifteen months of tho present tariff, as contrasted with the exports of the first fifteen months of tho tariff of 1890, was li!20,353,330. The excess of exports over imports during the first fifteen months of tho tariff of 1890 was $218,972,968 but only 156,758,633 under tho first fifteen months of tho tariff of 1894, a loss under tho latter of $157,314,345. Tho net loss In the trade balance of tho United States has been*198,903,607 during tho first fifteen months' operation of tho tariff of 1894 as compared with the first fifteen months of the tariff of 1890. The loss has been large, constant and steady, at tha rate of $13,130,000 per month, or *600,00t) for every business day of the year. SASS WE NEED OPEN MILLS. McKlnley Declare! That Open AlinU Will Not Improve Matteri. Wo havo either been sending too much money out of tho country or getting too little in, or both. Wo havo lost steadily in both directions. Our foreign trado has been diminished and our domestic trado has suffered incalculable loss. Does not this suggest the catiso of our present depression and indicate its remedy? Confidence in homo enterprises has almost wholly disappeared. Our shops are closed, or running on half time at reduced wages and small profit, if not actual loss. Our men at home are idle, and while they are idle mon abroad are occupied in supplying us with goods. Our unrivaled homo market for the farmer has also greatly suffered because those who constitute it—the great army of American wage-earners—are without the work and wages they formerly had. If they cannot earn wages they cannot buy products. They cannot earn if they have no employment, and when they do not earn the farmer's homo market is lessened and impaired, and the loss is felt by both producer and consumer. Tho loss of earning power alone in this country the past three years is sufficient to have produced our unfortunate business situation. If our labor was well employed, and employed at as remunerative wages as In 1891, in a few months every farmer in the land would feel the glad change in the increased demand for his products and in the better prices which he would re- Ing foreign immigration is one of peculiar importance nt this tin«e, when our own- laboring people ore in such great distress. I am in hearty sympathy with tho present legislation restraining foreign immigration, and favor such exton&ion of the laws, as will secure the United Statoi from invasion by the debased and criminal classes- of the old world. [McKinloy adds here that while we will receive gladly honest and industrious immigrants who desire to become Americans wo should receive none, who will not affiliate with our people.] Tho soldiers and sailors of the union should neither bo neglected nor forgotten• * • Doubtless there have been pension abuses nnd frauds In the numerous claims allowed by the government, but the policy governing the administration of the pension bureau must always bo fair and lib- I oral. Xo deserving applicant should ever suffer because of a wrong perpetrated by or for another. Our soldiers and sailors gave the government the best they had, * * * and the government must honor them ia their need ns in their service with the respect ami gratitude duo to brave, noble and rielf-sacriflcing men who nre justly entitled to generous aid In their in- crenssing necessities. The declaration of tho Republican platform in favor of tho upbuilding of our merchant marine has my hearty approval. The policy of discriminating duties in favor of our shipping which prevailed in tho early years of our history should be again promptly adopted by congress untf vigorously supported, until our prestige-1 and supremacy on the seas is fully attained. * • * The pledge of the Republican nation-1 al convention that our civil service-l Iaws."ehall be sustained and thorough-! ly and honestly enforced, and extended F wherever practicable," is in keeping. with the position of the party for the .past twenty-four • years, and will be-l faithfully observed. Our opponents de-l cry these reforms. • • « The Re-l publican party earnestly opposes thlsl reactionary and entirely' unjustifiable 1 live. . policy. It will take no backward ste- It is not an inorease in the volume of P°» r Uon ... money which is the need of the Ume. f ^ other , rtant ftnd t im« but an Increase In the volume of buai- dec , arfttlons ln the platform whichf ness. Not an increase of.coin.but an £ ^ noj . her(j d , SCUSB T must con .f increase of confidence. Not more wltfc that they „ coinKge, but a. more actlva use of the , ... money coined. Not open mints for the ">y approva.. unlimited coinage of the silver of the world, but open mills for the.full and unrestricted labor «t .American work- ^. . -_;...,. .-..,--. .,•;:-.,-, .... i/ ,.,- l , l! .,,,v

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