j
You Can Mako
Your dollars and ee
.,(1 IllO
t nrol if nt ft yir, or as
rg th(Mii. .noe. Advertlie-
by buying you
M our More
a. ... MW3ni pOSIUOtl.
mr Tlfio rfKht to chnugo the
iir vrmr ,Mel'ls wiienover uie un
TTT . store' ' demands It. The rlttlit la
Ift. ' ,ect nny advertisement, wlu-tlier
ITV f Iloti that tue publishers may deem
'LI II'. Advertising rates imulo known
J1.7.ppllcntlotl.
stored at tho postofllcc nt Shenandoah, I'A., as
tocond class mall mnttcr.
TKL15PIION15 CONNECTION.
Evening Herald
TilUItSDAY, AUGUST 27, 1600.
REPUBLICAN NATIONAL TICKET,
roll I'llWIDKKT,
WILLIAM M'KIKLLY,
01 Olilo.
run vice ruiinr:NT,
OAllHirr A. IIOHAltT,
01 Kmc Jersev.
REPUBLICAN STATE TICKET.
Foi&ijxauurtitAsr-AT-t'Aitfii:,
(JALU8ILV A. OROW,
Ot Hnsqucharitin.
HAMULI, A. DAVENl'OIlT,
Of Krlo
THE FEOFLE AND FINANCE.
Thoro aro a few elementary principles in
economic science, says tho Century, tho
mastery of which by tho grout body of tho
American people would bo of incalculable
value to us as a nition. One of theso is that
no government can create money out of
anything which it may choose to call money.
Another is that all classes of tho people,
rich and poor, laborer and employer, aro far
better oil' with a sound and stable currency
than they aro with any of tho varieties of
"cheap money."
Another is that no part of tho financial
or business world can ho benefited or injured
by chaiiKos in tiic monetary stundaul of
value without corresponding hcnclltor injury
to the other part. Still another is that tho
larger part of the business of tho country is
transacted upon credit, and that anything
vim h tends to disturb or to foreshadow dis
turbances of the monetary standard of value
cripples credit and demoralizes all business.
Finally, though we have by no moans
' misted tho list, it would be of tho highest
jiiiiiiirtauto for the common pcoplo to becomo
tli"iiiighly convinced of tho fact that in
iy instance in which tho financial world is
disturbed by changes or threats of cliaugcH
jo I lie standard of value tho sull'ercrsare
always tho poorer people and the hcucficiaticH
always tho rich, for the latter are abioto
guaul against the coming trouble which they
an quick to scent, while the former aio
powerless to take tho necessary ptocuiitions
i veil if they weio able to anticipate them.
-The pornicious delusion that tho govern
ment has the power to create money is
tr.ieeublo directly to the legal lender act of
Ihoj. Previous to that time the American
VLuple, in common with those of other en
lightened nations, beliocd that the Milo
film tiou of government in relation to money
wui to certify to tho weight and purity of
the metal contained in it. Tills view, which,
it is scuicely necessary to bay, has been
hIhiwu by tho experience of all civilized
countries to bo the only sound one, was com.
pli tely upset in the minds of thousands of
uti.ustructed people by tho issue of tho legal
tenders and tho subsequent decisions of tho
Supremo Court upholding the right of Con-
gn ss to make such issues
The pernicious doctiino that anything
who h tho government might choose to stamp
as money paper, or silver, or nickel, or
copper became ipso facto money fur the
amount named on its face obtained so firm a
lodgment in the popular mind that calls
begun to be heard from all quarters for tho
liberal issue of Government mouey in almost
veiy form oxcupt gold. Tim country has
pas.ed safely through several varieties of tho
ouh.ick craze," which was the most
toil and dangerous form of tho delusion,
it has yet to reach tho solid giotiud
pled before the war,
So long as the admission is allowed that
overnmeiit can create money theio isno
"factory answer to bo liiado to tho quos-
"Why should wo have a gold stand
"Why should wo havo national
ks - or "Vt by -lmulil we huvo any limit
t ihe ulume ol our currency '" If the
eminent can create money, why bliimlil
lot create all that c cry body wants? Why
mid anybody work for u living?
U' 1 ..t ,,t r ..r,.l,. .. .. l..Lt
'Jprelicnsiun
touai.-rt.;.
IHi.Ii,ii1..i, ,.f llw. tintl. tl.nt nn f..v..r.
r,..... .. .
an inferior form of money
jferiur furm like gold by
eu.e tins a law aecreeinV that it shall become
so, aid that it cannot do this for tho simple
reason that the superior form costs moio, and
it 1! this cost which constitutes It value as a
niudium of exchunjio. Tho kind of mouey
wftirh every nun wants is tho kind which
vpu oiiy mo most ei me tilings which lie BaU ri,eum, eczema, rheumatism, neural
)oeds that is, have tho largest parcha-tnx gia, catarrh, nervouBncBB, that tired feel-
power, coining is clearer inan mat ciieup
money moans uign pricet,, anil uoar mouey
luuaus low prices. Cheap money is as costly
fuVa nation as it is for an individual. Mr.
Hi ' Adams lias demonstrated very con
Tiircingly tiiat the leual tenders made tho
expense of our civil war greater by $SO0,000,
OOo than it would have been had thoy never
been issued.
-lint to the average mau, tho wage-earner
of
every varloty, the cliango from dear
nioiioy to a clioaper otio nieaiiB groatly in
creased cost of living witli no Increase of
income. Ho still receives the samo number
of dollars as wages, hut each dollar buys le s
than It did before. If ho lias dcMs, tho
depredation of thorn is by no means in tho
fsainO proportion as in his wages.
Tho people who would benefit at first by
a cliango to cheap mouey are farmers and
others who havo property which is heavily
mortgaged, and who would bo thus relieved
of a portion of their debt.
Another class of temporary beneficiaries
from cheaper mouey are employers, who aro
. employes In the cheap
all amounts, at its full nominal
1 1 1 1 o obtaining it for such payment In
amounts and at its sold uluc. Yet we
believe it is a fact that the groat body of
employer are ngucd that tho slight gains
which aro possible in this way are far from
U'lng an adequate set-oil' to the looms caused
to all business, by tiie uncertainties of an
unstable currency.
All this leads naturally and inevitably to
the general conclusion that tho host money
for all classes in tho long run of course,
including tho farmers is that which is most
stable in valuu; that is, which most com
pletely find steadily servos tho purpose of a
medium of exchange, ltshouid bo constantly
borne in mind that tho great volume of the
business of tlio country, what is called
exchange of commodities, is conducted on
credit. Statistics show that tho proportion of
tho trado of the country that is carried on by
moans of money to that curiicd ou by means
of credit instruments is in the ratio of about
ono to fline. The mere hint of a change In
tho value of money sends a thrill of alarm
along tho entire credit system, and leads to
instantaneous contraction. This is at once
felt In overy branch of business nnd industry.
Ilucklen's Arnica Salve.
Tho boat salvo in tho world for ruts.
bruises, soros, ulcers, Bait rheum, fever Gores,
tetter, chapped hands, chilblains, corns, and
all skin eruptions, and positively cures piles.
or jo pay roquired. It is guaranteed toglvo
porfect satisfaction or mony refunded, l'rioo
25 cents per box. For Balo by A. Wasloy.
A BIG FAILURE.
Illltnn, Hughes A Co., tin) Well Known
Dry (laoils Tintl, Miller nit Assignment.
Ni.w V.) .iv, Aug. 27, TV dry goods
firm of Hilton, Hughes is i , once A. T.
Slo.v.irl i: C'i., made iri . slgnmont yes
terday to (. M. Wright I'ho assignment
was made by Alburt 1J Hilton, who com
prises tho lirm No statement has as yet
boon nuulo ns to tho amount of llnbilltlos
mid assets.
When the' omployos, who number 2,300,
canii) to tho building In tho morning thoy
foiinil notleos posted notifying thorn that
their services were no longer required, and
that thoy would bo paid in full to and in
cluding yesterday.
Tho following statement was mado by
Mr. Hoot in behalf of Honry Hilton : "Pivr
tlos In Interest beeamo satisfied that tho
business was not making n profit. It was
inururoru auterinlncd to clo.so it. It was
nt first eupposed that this could bo done
by nn ordinary 'closing out' salo, without
any gonoral assignment. With this end
In vlow Judgo Hilton within tho last
month advanced f.'.VMlOO to tho firm to
pay on account of inorchandlso claims.
Ho has, during tho p.vst few years, ad'
vnncud very hico hums. Ho would havo
boon willing to advance enough to pay all
the unsecured claims, but in tho present
stringency it is more than inconvenient
to raise thai sum at unco, though tho sum
is not largo, loss than $Si.(m Tho dim
cull les every banker and merchant knows.
In February, 187(5, the linn of A. T.
Stewart & Co. was composed of Alexan
der T. Stewart and William hlbbey. Mr.
Stewart was worth between tflo.uoO.ODO and
&.V),U00,0U0, of which i,H0,O()O,OU0 was in
United titutos government bonds. Thi
firm trail-acted n business of from ?.'.",
OUJ.'KK) to Wd.iji) per year. Alosander
T. .Stewart died in MhtcIi following, and
by his will constituted his wifo, Cornelia
M. htuwui-t, and his former friends and
lmslnoss associates, Henry Hilton and I
William Libber, tho executors of his .
estate. Tho business was continued by '
tho oxocut.irs until April 14, lbTO, when
Cornelia M. Stewart, the widow, sold
her interest in the estato of her decease , i
husband to ex-Judge Hilton for "41 ,OUO,0u, ,
and oilier good and valuable coii.sklor.-i-1
ions." ,
New .Ii'ii-y h'tnto Coii4ntlon,
Tiikxtos, Aug. 2(5. Tho Utpubllcnn
stjtto cominlttco met nt tho Trenton
House la-t night to complete arrange
ments for today's statu convention to
nominate presidential doctors. Governor
Griggs presided ut both so.s-ions. Tho in
dieations are that tho following electoral
ticket will lio selected: Kleotiirs-at-largo,
John M. Dryden of Kssas and Samuel H.
Grey of Camden ; First district, Thomas
W. Trencbard, Cumberland; Scoond,
Samnol K.Wilson, Mercer; Third, Adolph
Mack, Somerset; Fourth, A. H. Whitney,
Morris; Fifth. J. Hull Drowning, Dcrgon;
Sixth, Jamos S. Hall, Kssex; Sovonth,
(ioorgo F. Perkins. Hudson; Eighth,
Hrnost Akerman, Jr., Union.
Julet nt Sin rniiln.
Hio in: ,Iaxi:iiio, Aug. 27. Tho situa
tion In Sao I'nulo Is Imtiroving. Tho city
Is strongly polioed. Up to tho present
time, six persons have boon reported killed
In Sao P.iulo and fifty wounded. Tho
Italian charge d'uiTalros his demanded
from tho Uraziliail government that repa
ration bo mado for the Insult to the
Italian 11 ig, and the relations between
the government und Italy's representative
are becoming str.iluo 1 Thoro Is great
ruj .ielng through nil tlu country over
the "e, -'Ion of tlu a tre "neat regarding
t'i ' 1 tall 111 epti
Last and all the; time Hood's SarsapnrlUa
has been advertised as a blood purlllcr.
Its LTeat cures? havo been accomplished
through purified blood cures ot scrofula,
w, n cures when others foil, becauso it
Strikes ot tho root of tho discaso and
eliminates every norm ot impurity.
Thousands testify to absolute cures ot
blood diseases by Hood's Barsaparlllo,
olthough discouraged by tho failure ol
oiuer medicines, itemomuer iuai
ooo s
Sarsaparilla
Isthebest - In fact the Qua True Dlood inirlner.
u . r,Sii easy to buy, easy to take,
HOOU S FIllS easy to operato. 25c.
Wanted-An Idea
Who can think
of some Blmplo
thing to pateatl
Protoct your ldea( thpr may brio? you wealth.
ccj-a. Wanhlaston, D. '.. tor their ti.KX) prlte offer
Always
(Continued Irom Virst l'nge.)
private nccouiir or ,ni, iiiut tho guvorli
ment has solemnly agreed to keep thum
as good ns th bi'si dnlbir.s we linvo. Tliu
govornniont bought the silver bullion at
its market value nnd coined It Into silver
dull.irs. ll.i, ing exelu .Ivr control of tho
mintage, it only eniu what it can hold at
n parity with gold. The prollt, represunt
lng the difference botwinui the emnmerolal
value of the silver bullion and tho face
valtio of tho silver dollar, goos to the gov
ernment for tho lieneflt of tho pooplo.
Tho government bought tho sliver bul
lion contained In the siher dollar nt very
much loss than It i coinage value. It paid
It out tilts I'r.iJltors, cud put it in olrou
latlon among tho people nt its facu value
of one hundred cents, or n full dollar. It
roquired the pooplo to acoopt It as a logal
tender, and Is thus momlly bound to main
tain It nt n parity with gold, which was
then, ns now, the recognized standard
with ns, nnd tho most enllghtonod nations
of tho world. Tho government having
Issued nnd circulated tbo silver dollar,
must in honor protect tho holdor from loss.
This obligation it has so far sacrodly kept.
Not only is thoro a moral obligation, but
thoro is a legal obligation, expressed in
public stututo, to mnintaln the parity.
Thoso dollars, in tho particulars I havo
named, aro not tho samo ns tho dollars
whleh would bo Issued under froo coinage.
They would lo tho snmo in form, but dif
ferent in rnltio. Tho government would
havo no part in tho transaction, axcopt to
coin tho etlvor bullion into dollars. It
would sharo In no part of tho profit. It
would tnko upon Itself no obligation. It
rrould not put the dollars into circula
tion. It could only got them ns any citi
zen would get them, by giving somothlng
fur thorn. It would dellvor them to thoso
vs h ' deposited the silver, and its connec
tion with tho transaction thoro end. Such
an! tho silver dollars which would bo Is
sued under free culnago of silver nt a
ratio of 10 to 1.
They Could Not bo Kept at Tar.
Who would then maintain the parity f
What would keej) them nt par with gold f
There would bo no obligation rostlng upon
the government to do it, and If there were
It would Iw powerless to do it Tho simple
truth is wo would bo driven to n silver
monomctnllsm. Thoso dollars, therefore
would stand upon their real value. If
tho freo and unlimited coinage of silver
at a ratio of 1(1 ounces of silver to 1
ounco of gold would, as some of our advo
cates assert, mako 5U conts In silver worth
1U0 cents, and tho silvor dollar equal to
tho gold dollar, then wo would havo no
cheaper money than now, nnd It would 1)0
no easier to get. Hut that such would bo
tho rosult Is against reason and Is contra
dicted by experience in all times nnd in
all lands.
It moans tho debasement of our cur
rency to tho amount of tlio difference be
tween tho commercial and coin value of
tho sliver dollar, which is over changing,
and tho cifect would bo to reduce prop
erty values, entail untold financial loss,
destroy confldonce, impair tlu obligations
of existing contracts, further impoverish
tho laborer nnd producers of tho country,
creato n panio of unparalleled suverlty,
nnd indict upon trade and commerce a
deadly blow. A 'jn Inst any such policy I
mu unalterably opposed.
Itlinetulllsin.
Bimetallism cannot be secured by inde
pendent action on our part. It cannot bo
obtained by opening our mints to tho un
limited coinage of tho silver of tho world,
at a ratio of 115 ounces of silvor to 1 ounce
of gold, when tho commercial value Is
more than !M ounces of sliver to 1 ounce of
gold. Mexico and China havo tried tho
experiment. Mexico lias fro.1 coinage of
silvor nnd gold at a ratio slightly in excess
of W4 ounces ot silver to 1 ounce of gold,
and whllo her mints are freely open to
both metals at that ratio not a single dol
lar in gold bullion Is coined and circu
lated as money. Gold has been driven out
of circulation In thoo countries uud they
aro on a silver basis alone.
Until international agreement is had It
Is the plain duty of tho United States to
maintain tho gold standard. It is the
recognized ami solo standard of tho great
commercial nations of the world, with
Which wo trade more largely than any
other. Kighty-four per cent, of our for
olgu trade for tho fiscal year ISO'S was with
gold standard countries nnd our trade
with other couutrioi was settled on a gold
basis.
Chloily by moans of legislation during
and slnco 1878 there has boon put In circu
lation moro than SU-1.000,000 of silver or
Its representative. This has boon dono In
the honest effort to give to silver, If possi
ble, tho samo bullion and coinage value,
and encourage tho concurrent uso of both
gold and silver as money. Prior to that
time thoro had been less than nine mill
ions of silver dollars coined in tho entire
history of tho United Suites, n period of
elghty-nlno years. Tills legislation so
cures tho largest uo of silver consistent
with financial safety and tho pledge to
maintain Its parity with gold.
Wo Now Have More Silver Than Gold.
Wo have today moro silver than gold.
Tills has been accomplished at times with
grave porll to tho public crodlt. Tho so
called Sherman law sought to uso all the
silver product of the United States for
money at Its market value. From 1800 to
ISO,) tho government purchased 1,30U,000
ounces of silvor a month, or 51,iXX),0(iO
ounces n year. Tills was ouo-tlilrd of tho
product of the world and practically all
of this country's product. It was bellovod
bv thoso who then and now favor froo
colnaKothat 6uch uso of silver would iub
vauco its bullion value to its coinage value,
but this expectation was not realized. In
a few months, notwithstanding tho un
nrooodont market for the silver produced
In tho United Statos, tho prlco of silver
went down very rapidly, reaching a lowor
point than ever before. Then, upon tho
reeomnioudatlon of l'resulout Cleveland,
both political partlos united in tho repeal
of tho purchasing clauso of tho Sherman
law. Wo cannot with safety engage in
further experiments In this direction.
Untho22dof August, 1801, in a publio
addross. I salilt 11 we could, havo un In
ternatlonal ratio, which till tho loading
nations of tho world wouldiulopt, and tho
true relation bo ilxod botweou tho two
motals, uud all agree upon tho quantity of
silvor which should constitute a dollar,
then silver would boas froo and unlimited
In its privileges of culnago us gold is to
day.
The Double Standard.
Hut that wo havo not lioen ablo to
secure, und with the freo mid unllmltod
oolnngo of sliver adoptod in tho United
States, at tho present ratio, wo would bo
still further rdmovod from any interna
tlonnl agreement. Wo may never bo ublo
to secure it If wo outer upon tho Uolntod
col no go of sliver, Tho doublo standard
imnlles oaunlltv at n ratio, uud that
equality can only bo established by the
concurrent law of nations. It was tho
concurrent law of nations that mndo the
doublo standard ; It will roqulro tho con
current lnw of nations to reinstate und
sustain it."
Tho Kopubllonn party has not boon, nnd
is not now, opposod to the uso of silvor
money, ns Its record abundantly shows.
It has dono all that could be dono for its
lncronsod uso, with safety and honor to
tho United States, acting apart from other
governments. There aro thoso who thln'c
that It has already gono boyond the limit
of llnanclnl prudence. Surely wo can go
no further, and wo must not permit fnlso
lights to lure us across tho danger lino.
Wo havo much moro silver in uso than
any oountry in tho world except India or
China 500,0(X),000 more than Groat Hrlt
aln ; ?1W,000,UOO moro than Franco; ff 100,
OOO.am moro than Germany; 5-H,000,0iX)
less than India and 81'23,O.X),0U0 less than
China. Tho Hepubllean party has do
clarod In favor of nn International agree
ment, and If elected president It will bo
my duty to employ nil proper moats to
promote it.
What It Means.
Tho freo colnngo of silver In this coun
try would dofor, if not dofont, interna
tional blmotallls-m, and until nn Interna
tional ngreemont can bo had ovary inter
est requires us to maintain our present
standard. Indepoudont froo oolnngo of
silvor nt a ratio of 10 ounces of silvor
to 1 ounce of gold would insure the
spoody contraction of tho volumo of our
currency. It would drive at least 000,000,
000 gold dollars, which wo now hnvo, por
mnnontly from tho trade of our country,
nnd groatly docronso our por capita circu
lation. It Is not proposod by tho Itopubllcan
party to take from tho circulating modlum
of tho country nny of tho silvor wo now
hnvo. On tho contrary, it is proposod to
kcop nil of tho sliver monoy now in circu
lation ou n parity with gold by maintain
ing tho plodgo of the government that all
of It shall bo equal to gold. This has boon
tho unbroken policy of tho Hepubllean
party slnco 1878. It has Inaugurated no
now policy. It will keep In circulation
and us good ns gold all of tho silver and
paper monoy which nro now Included In
tho currency of tho country. It will mnin
taln their parity. It will prcsorvo tholr
equality in tho future ns it has nl ways dono
In tho past It will not cousont to put
this country on u silvor basis, which would
inevitably follow Independent freo colnugo
nt n ratio of 10 to 1. It will opposo tho ox-
ptusion or golil from our circulation.
it thoro is any otio thine which should
bo freo from speculation and lltictuatlon
it Is tho money of a country. It ought
never to bo tho subject of moro partisan
contention. When wo part with our labor,
our products, or our property, wo should
receive In return money which Is ns staple
and unchanging in valuo ns tho ingenuity
of honest men can mako it. Dobasomont
of tho currency means destruction of
values. No ono suffers so much from
cheap money ns tho farmers and lnborors.
Thoy nro tho first to feel Its bad effects
und tho last to recover from them.
Tanners und Laborers Suitor Most.
Tills lias boon tho uniform cxporlonco of
all countries, and hero, as elsewhere, tho
poor, and not tho rich, are always tho
greatest sufferers from ovory attempt to
dobaso our monoy. It would fall with
alarming severity upon investments al
ready mado; upon Insurance companies
and their policy holders; upon savings
banks and their depositors; upon build
ing and loan associations and their mem
bers; upon tho savings of thrift; upon
ponsionor.s und their famlllos, and upon
wage earners and tho purchasing power
of their wages.
The silver question is not tho only Issuo
affecting our monoy in tho pending con-
tost. Mot content with urging tho freo
col nago of silvor, its strongest champions
demand that our paper mouey shall ho Is
sued diructlv by tho govornniont of tho
United Mates. This is tho Chicago Dem
ocratic declaration. Tho St. Louis Peo
ple's declaration is that "our national
money shall bo Issued by tho genorul gov
ernment only, without tho intervention
of banks of lssuo, bo full legal tender for
tho payment of nil debts, publio uud pri
vate," and bo distributed "direct to tho
people, and through lawful disbursements
of the government."
Thus In addition to tho froo coinage of
tho world's silvor wo are asked to outer
upon an ora of unllmltod irredeemable
paper currency. Tho question whleh was
fought out from 8U" to 1879 Is thus to bo
reopened, with nil Its uncertainties and
cheap money experiments of ovory con
celvablo form foisted upon us. This indi
cates a most startling reactionary policy,
strangely nt varlanco with ovory require
ment ot sound nnauco; but tho declara
tion shows tho spirit and purposo of thoso
who, by combined action, are contoudiiig
for tho control of tho government
Not satisfied with tho dobasomont of our
coin whleh wjuld lnovltably follow tho
free coinage ot silver ut 10 to 1, thoy would
still further degr.ulo our currency ami
threaten our publio honor by tho unlim
ited issuo of an lrrodoomablo papor cur
rency. A graver meiiuco to our financial
standing und credit could hardly ha con
ceived, and ovory p.vtrlotlo citizen should
lie aroused to promptly moot and effect
ually defeat It
In the Highest Dexreo Iteprehcnslblo.
It Is a cause for painful regret nnd so
licitude that an offort Is bolng mado by
those high In the, oounsels of tho allied
parties to dlvldo tho pooplo of this oountry
into classes and create distinctions among
us, which in fact do not oxlst and aro re
pugnant to our form of government. Those
appoalsto passion and prejudice aro be
neath tho spirit nnd Intelligence of n froo
poople, nnd should bo met with stern re
bukoby those thoy are sought to lnlluenco.
und I believe they will Ijo. Kvory attempt
to array class against class, "tho classes
against tho uinssos," seotlon against seo-
tlon, labor against capital, tho poor
against the rich" or Interest against Inter
est In tho United States, Is In tho highest
degree reprehensible. It is opposed to tho
national instluot and Interest and should
bo resisted by overy citizen.
Wo are not a nation of classes, but of
sturdy, free, Independent nnd honorable
people, dosplslng the demagogue, and
never capitulating to dishonor. This over
roourrlug offort endangers popular gov'
eminent and Is a menaoo to our liberties.
It is not ft now campaign dovlco or party
nppoal. It is as old as govornniont among
moil, but was never moro untlmoly and
unfortunato as now. Washington warned
us ngnlnst it, and Wobstor said in tho
sonate, In words which I feolaro singularly
appropriate at this time, "I udmontsh
tho pooplo against tho objoct of outcries
like theso. I admonish every industrious
laborer of this country to bo on his guard
against such doluslori. I tell him tho
attempt is to play off ills passion against his
interest, and to prevail on him, In thonamo
of liberty, to destroy till tho fruits of
liberty."
l'rotcctlon of Huprume Importance.
Anotle r Issue of supreme ininortanco is
that of protection. Tho jiorll of free silver
is n menaoo to bo feared ; we nro already
experiencing the effect of partial freo
trado. Tho ono Inust bo averted: tho
other corrected. The Ilepublloan party is
wedded to tho dootrlno of protection nnd
was never morooarnojt in Its sunnort and
advocacy than now. If argument were
heeded to strengthen its devotion to "tho
American system," or increase the hold of
that system upon tho party und pooplo, It
is found lu tho lesson and experlonoo of
tho past threo years. Men realize In tholr
own dally llvos what before was to many
of them only report, history or tradition.
lhey have had a trial of both systems and
know what each has dono for thorn.
Washington, in his fnrowoll addross.
Sopt. 17, 1700, a hundred years ago, said:
"As n very Important sourco of strength
and security, cherish publio credit Ono
method ot preserving it is to uso It ns
sparingly ns possible, nvoidlng tho accu
mulation of debt, not only by shunning
occasions of exponso, but by vigorous ex
ertions in time of peace to discharge the
ucbts which unavoidable wnrs may havo
occasioned, not ungenerously throwing
upon posterity tho burdon whloh wo our
selves ought to bonr."
ro ficllltato tho onforoomont of tho
maxims which ho announced ho declared i
"It Is osscntlal that vou should boar In
mind, that towards tho payment of dobts
thoro must bo revenue j that to have rovo
nuo there must bo taxos; that no taxes
can bo devised which nro not more or loss
Ineonvonlont or unpleasant; that tho In
trinsic embarrassment inseparable from
tho scloctlon of tho prdpor obiocts (which
is always a choice of dlflloultlos) ought to
do a decisive) motive for a candid construc
tion of tho conduct of the government In
making it ; and for a spirit of aequlosenco
in the measures for obtaining rovonuo
which tho public oxlgcnclos may nt nny
tlmo dlctuto."
Animated by llko sentiments tho pooplo
of tho country must now fnco tho condi
tions which bosot thom. "Tho publio oxl
genclos" demand prompt tirotectlvo lecls-
lntlon which will avoid tho accumulation
of further debt by providing adoquato
revenues for tho expenses of tho govern
ment This is ninnlfestly tho requirement
of duty. If elected presldont of tho United
Stntos it will bo mynim to vigorously pro
mote this object and glvo that ample en
couragement to tho occupations of tho
American pooplo which, ubovo all else, is
so imporativclydemnndedatthls juncture
of our national affairs.
Our Cnndltlnu in Dcccinbor, 1802.
In December, 180-3, President Harrison
sent his last mossago to congress. It was
nn ablo and exhaustive roviow of tho con
dition and resources of tho country. It
sfitou our situation so accurately that I
am sure It will not bo amiss to recite his
official and vnluablo testimony.
Ihero never has been n tlmo lu our
history," said ho, "when work was so
abundant, or whon wages wore so high,
wnetnor moasurcil by tho currency in
which thoy aro paid, or by their power to
supply tho nocossarlos nnd comforts of
llfo. On tho general nverago prices havo
beon such as to glvo to agriculture a
fair participation in tho general pros
perity. Tho new Industrial plants es
tablished slnco Oct 0, 1800, and up to
Oct 2, 1S92, number 315, and tho ox
tension of existing plants, 103. ,Tho now
capital Invested nmounts to ?10,H(i,000, and
tho nnmber of additional omployos, 37,2d5.
During tho llrst six months of tho pros-
ont cnlondaryear 135 now factories were
built, of which 40 were cotton mills, 43 knit
ting mills, 2(i woolon mills, 15 silk mills, 4
plush mills and 2 linen mills. Of tho 40
cotton mills 21 havo boon built in tho
southern states. This fairly dosctibos tho
happy condition of tho country In De
cember, 189.1. What has It boon since, und
what is It now?
Our Condition i:iglit Months Later.
Tlio messages of President Cleveland
from the beginning of his second adminis
tration to the presont time abound with
descriptions of tho doplorablo Industrial
and financial situation of tho country.
hllo no resort to history or official state
ment is required to adviso us ot tho pres
ent condition, und that which has pre
vailed during the past threo years, I ven
ture to quote from President Cleveland's
first mossago, Aug. 8, 1893, addroisod to
tho Fifty-third congress, whloh ho callod
together In oxtraordlnnry session:
"Tho oxlstouco of an alarming nnd ex
traordinary business situation," said ho,
"Involving tho welfare and prosperity of
nil our people, has constralnod me to call
together In extra sosslon tho pooplo s rep
resentatives In congress, to tho end that
through tho wise and patriotic oxerclso of
tho legislative duties with which thoy
solely aro chargod tho presont ovlls may
bo mitigated and dangors threatening tho
future averted. Our unfortunate finan
cial plight Is not tho result of untoward
events, nor of conditions related to our
natural rosourcos. Nor Is it trucoablo to
any of tho afflictions which frequently
check national growth and prosperity.
With plenteous crops, with abundant
promise of remunerative prodnetlon and
mnnufneturo, with unusual invitation to
snfo Investment, nnd with satisfactory
assurances to business enterprises, sud
den financial distrust and fear havo
sprung up on ovory sldo.
"Numerous monoyod Institutions havo
suspended booauso abundant assets wore
not Immediately available, to meet tlio de
mands of frightened depositors. Survlv
lng corporations nnd Individuals are con
tent to kejp In hand tho monoy they are
usually anxious to loan, and thoso ongugod
in legitimate buslnossaro surprised to Cud
mat, mo bocui-juos inoy ouer ior loaus,
though heretofore satisfactory, are no lon
ger aoeepted. Values supposed to bo fixed
are fast becoming conjectural and loss und
fulluro havo lnvadod overy branch of busi
ness."
The CU.1WU of the Change.
What a startling and sudden change
within tho short period ot eight months,
from December, Visa, to August, 18U3r
What hud oocurrodf A change ot ad
ministration ; nil branches of tho govern
ment had boon entrusted to tho Demo
cratic party, which was committed against
the protoctlvo policy that had provallod
uninterruptedly for more than thirty-two
years and brought unexampled prosperity
to tho country and firmly pledgod to Its
complete overthrow and tho substitution
of a tariff for revenue only. Tho chnugo
having beon decreed by tho elections In
November its effects wore at ouco antici
pated and felt
Tho por capita of monoy"hns boon prac
tically tho samo during this wholo porlod.
Tho quality pf the monoy has bdon Identi
cal all kept equal to gold. Thoro Is noth
ing connoctod with our monoy, therefore,
to account for this suddoli uud aggravated
industrial change. Whatever is to bo dep
recated in our flnanolol system it must
evorywhoro lio admitted that our money
has boon absolutely good and brought
neither loss nor lmxmvenience to its hold
ers. A depreciated currency, has not ex
isted to tifrthor VoS trtc trotiolea ousinoss
situation.
Good .Honey Never Jlmlo Tlnu-s Ilnnl.
It Is a mere pretense to attribute the
hard times to thofncttlr.it all our cur
lnoy is ou a gold basis. Good money
novcr made times hard. Those who assort
that our presontlndustrlalniid llnanclnl de
pression is the rosult of tho gold standard
have not read American history aright, or
boon ontvful students of the events of
recent years. o never nnu greater pros
perity In this oountry, In overy flold of
riuploymeiit and Industry, than In the
busy yours from 18i0 to 1803, during all of
which tlmo this country was on a gold
basis nnd wnplorod moro cold monor la i
Its fiscal and business operations than over
before. We hnd, too, n protoctlvo tariff
under which emplo revenues wore col
lected for tho govornniont andan accumu
lating surplus which was constantly
nppllod to tho payment of tho public dobt.
Jjci us holu fast to Hint which wo know
Is good.
It Is not moro money wo want; what wo
wnnt Is to put tho monoy wo already have
at work. When monoy Is employed men
are omployoiL Both havo always boon
steadily and remuneratively onguged dur
ing all tho yoars of protoctlvo tariff legis
lation. Whon thoso who havo money lack
confldonoo In tho stability of values and
investments thoy will not part with tholr
monoy. Busluoss. is stagnated, the llfo
blood of trade Is checked and congested.
"Wo cannot restore DUbllo confidence hv an
net which would revolutionize all values,
or an act whleh details a doflclency in tho
public rovonuos. Wo cannot Inspire con
fidence by advocating tho repudiation or
practicing dishonesty. Wecnnnot restore
confldonco, olthor to tho treasury or to tho
pooplo, without a chnugo lu our presont
tariff legislation. ' '
Tho only measure of n gonoral nature
that affocted tho treasury and tempera
ment of our pooplo passed by tho Fifty
third congress was tho general tariff act
which did uot rocolvo the approval of the
president Whatever vlrtuos may bo
clalmod for thnt act thoro ,1s confessedly
ono which It doos not possoss. It laoks tlio
osscntlal vlrtuoof its creation tlio raising
ot rovonuo sufficient to supply tho nocds
of tho govorivmont It has at no time pro
vided enough revenue for such noods, but
it has caused a constant dollcloncy lu tho
treasury and a stonily deplotlon In the
earnings of labor and land. It has con
tribuod to swell our national debt moro.
than 9203,000,000, a sum nearly ns groat ns
tho debt of tho government from Wash
ington to Lincoln, Including all our for
eign wars, from tho revolution to tho re
bellion. Slnco Its passago work at homo
has boon dlmlnlshod, prices of ngricul-,
turnl products hnvo fallen, conlldonco has '
boon nrrcsted, and gonoral business de
moralization Is seen on overy hand.
Losing- in jioiu uireciioiis.
Wo havo either boon sending too much
money out of tho country or getting too
llttloln, or both. Wo havo lost steadily In
both directions. Our foreign trado has
been diminished nnd ottr domestic trado
has suffered incalculable loss. Doos not
this suggost tho causo of our presont de
pression nnd indicate Its romedyf Confi
dence In homo cntorprisos has almost
wholly disappeared. Our shops aro closed.
or running ou half tlmo at reduced wages
nnd small profit, If not actual loss. Our
mon nt home nro idle, and whllo they nro
idle mon abroad aro occupied lu supplying
us with goods.
Our unrivaled homo markot for tho
farmer has also greatly suffered becnuso
thoso who con 't'.tuto It; the greatniy of
vineiicnu wage earners are w linout tno m
work and wagos they formerly had. If f
thoy cannot earn wages thoy cannot buy
products. Thoy cannot cam If they havo
no employment, una whon they do not
earn tho fnrmors' homo market is lessoned
and Impaired, and tho loss Is felt by both
producer anil consumer. T he loss of earn
ing powornlono In this country In tho past
threo years is sufficient to havo produced
our unfortunato business situation. If
our labor was woll employed and em
ployed at as remunerative wages as in
1892 iu a few months every farmer In tlio
land would feel tho glad cliango in tho In
creased demand for his products and In
tho better prices which ho would rocelvo.
Not Opvii Mints, but Opcu Mills.
It Is uot nn Increase lu tho volumo ot
monoy which is tho need of tho time, but
nn increasoof tho volumo of business;
not an Increase of coin, but nn Increase of
confidence; not more coinage, but a moro
active uso of tho money colnod; not opon
mints' for tho unllmltod colnngo of tho
sliver of tho world, but opeu mills for tho
full nnd unrestricted labor of American
worklngmon. Tho employment of our
mints for tho coinage of tho silvor of tho
world would not bring tho necessaries
and comforts of llfo back to our pooplo.
This will only como with tho employment
of tho massos, and such omployment is
certain to follow the re-ostabllshmont of
a wlso protoctlvo policy whloh shall on
courogo manufacturing ut homo. Pro
tection has lost none of its virtue and Im
portance Tho first duty of tho Itopubllcan party.
If rostored to power lu tho country, will
bo tho enactment of a tariff law which
will rnlso all tho mono necessary to con
duct tho government, economically and
honustlv administered, and so ndlustiiil aa- -
to give preferonco to homo manufactures
und adequate protection to homo labor
und tho homo market Wo nro not com
mitted to any sjieclul schedulos or rates of
duty. They lire and should be always
subject to change to moot now conditions,
but tho principle upon which rates of
duty aro lmposod remains tho samo. Our
duties should always bo high enough to
mensuro tho dlfforonco botwoon the wagos "
paid labor nt homo and lu compotlng
countries, nnd to adequately protect
Amorloan investments nnd American en
terprises. Our Farmers and the Turin".
Our farmors havo boon hurt by tho
changes in our tariff legislation as se
verely as our laborers and munufacturors,
badly as thoy havo suffered. The Itepub
llcuu platform doclaros iu favor of such
onoouragomont to our sugar interests "ns
will load to tho production on American
soil ot nil tho sugar which tho American
people uso."
It promises to our wool nnd woolon
Interests tho "most nmplo protection,"
a guaranty that ought to commend Itself
to ovory patrlotlo citizen. Never was a
moro griovous wrong dono tho farmers of
our country than that so unjustly Inflicted
during the past threeyears upon tho wool
growers of America. Although among
our most Industrious and useful citizens
their Interests has boon practically de
stroyed and our woolen affairs Involved In
similar disaster. At no tlmo within the
past thlrty-slx yonrs nnd perhaps never
during any previous period, have so many
of our woolon factories beon susponded as
now. The Republican party can bo rolled
upon to correct theso groat wrongs, if
again ontrusted with tho oontrol of congress.
(Continued on Third Page.)
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