'upplement
h a t c h e t
, ___________
H‘ I)4V .................... J i I-V aa. iM » 7
CSINESS IMPROVING.
"proper
hd\*nC* #f
looks for,
lel> the Secretary
tar'ff bill, whaferWM ** of the pending
wil1 give the count*"™111* 7 *** IU e d itio n s ,
the promise of
* niC6 on that heaJ:
cheering- and
“ M i t '* moat
Hon await, t d n r i" ^ -,h<“ c,,rren<T Quea-
Ph-ated w!th ¡hi10" ’ ‘ f U far « • * Pl>ID-
Eecord W
tDemI).m0Uth‘ #^ - p w T d e ^ h iI
OUR TARIFF HISTORY.
NO P R E S I D E N T S O P R O M P T
M ’ KINLEY.
AS
H is T a r i ff L a w W i l l Be on » b e S t a t u t e
Booka
E arlier
th a n
That
of
Any
F r e aid en t Since W o e h i n g t o n —F a c t e
" h ic h S h o u ld S i l e n c e C r o a k e r a .
sH e v id e n c e
PART OF t h e
fr o m every
country .
r»tlc anti R e p u b l i c a n J o u r n a l »
Vie with Each O t h e r in A a a u r a n c e a
^ getarniug Bua ln e aa P r o s p e r i t y -
leporta from A l l D i r e c t i o n s .
-
.s
-sr, ? : : S ' S
lion of his views
f° r th<“ exPloi,a-
Pbink,” he . aij
ffiatters- “ l
have stemlv , s' ' h 1 We are
to
times. I do
,,owar,] far better
a gradual
‘ ° ° k for an-T boom- but
railroads areTeM ?1"11* fr°™ “ 0W 011' The
<heyarennrL-K ,lns morp ,raffip. and
setriemon*
mor(‘ harmoniously. The
H istory M a y R e p e a t.
TyentJ Eeari as° ’ in 1877, the cmiD,ry
„enshrouded in the gloom o f a busi-
“ depression, consequent upon the pnn-
(1873- There were plenty o f prophets
¿predicted that the times would never
my better, and the mass o f the peo-
,rere discouraged and about ready to
-rede that the prophets o f evil were
rbt
Butin the fall o f 1877 signs o f improve-
t began to appear. T h e general the
ca s that a more hopeful feeling was
cal by the npproaeh o f the date for
resumption act to go into effect.
tn was no doubt something in this
■jecry; nevertheless plenty o f “ states-
were found who asserted that re
ason would be a failure, and that
jaiuess would be injured rather than
'ped by the attempt to resume.
But in spite o f all the talk, the times
-tinued to improve steadily.
They
-rremueh better in 1878, and in 1879 the
sing ride assumed the proportions of
lething like a boom. Some o f our Min-
■apolis people who carried real estate
-rough the period o f depression, and
..jly broke their backs doing so. will
itmber that by 1880 it was salable at
jTanced and advancing figures. In the
lit few years the prices o f realty here
(id elsewhere In the country reached the
kighest prices ever known before or
■ee.
The history o f this country appears to
w that panics and recoveries run in
bout twenty-year periods.
T here was
the panic of 1873, follow ed by five years
¡depression; the beginning o f recovery
1877; the full tide o f recovery in 1879,
followed by a period o f prosperity lasting
intil 1892. Then came the panic o f 1893,
hllowed by the period o f depression
"bioh we are now experiencing.
To
* me there are as yet no signs o f improve-
ent discernible, while to others there Is
already a faint glimm er o f dawn. Many
!m looking forward to the passage o f the
tariff bill as the starting point o f a new
Jeriod of prosperity. But whether from
Silt or some other cause or causes, it is
gnite probable that history will repeat it-
lelf, and that in the fall o f the present
fear, or the beginning o f 1898, we shall
witness a notable improvement, followed
bf perhaps ten or a dozen years o f great
prosperity.
The cycle Is nearly completed.
We
lave experienced nearly five years o f de
pression since the election o f Cleveland in
1892. It is about tim e fo r a change in
tie natural order o f things.— Exchange.
From
H igh A u th o rity .
The statement o f failures in M ay by
branches o f business gives much encour-
itement. In amount o f defaulted liabili-
tiee the month was the smallest since
September, 1895, in manufacturing lia
bilities the smallest since November, 1895,
and In trading liabilities the smallest
«nee September (excepting the last
¡month) 1S94. Failures o f general stores
have not been as small in any month as
In May, 1897; in only tw o months out of
toy-six have there been smaller failures
It hooks and hats; only five in groceries;
and not one trading class in that month
“ • reported failures larger than the
bllf during preceding months, though in
furniture failures are rather numerous.
In clothing m anufacture the month was
the smallest except four out o f thirty-six,
wept five in chemicals, six in woolen
loods. seven in machinery, lumber and
Biscellaneous manufactures, and exceed
ed the average only in iron and cotton
joods and earthenware, ow ing to a few
failures of exceptional size. Nobody can
toake the meaning o f such returns.
The statement that, except for the tem
porary depression in prices, the volume of
business transacted is now larger than
“ 'rs* I" 1892— the year o f greatest pros
perity—has been questioned by some. But
• comparison o f prices this week in the
»•ding branches o f m anufacture not
o°ly confirms that view , but shows a
remarkable similarity to the course of
Prices in the earlier months o f 1879. when
the most wonderful advance in production
•ad prices ever known in this or any
other country was close at hand.—Dun’s
«view.
I'ktlnirnUhed B n s l n e a s M en Fpeak.
The New York MaiU and Express last
*eek published interview s with three men
Priuninent in business and finance just as
t o were about to sail for Europe, with
®o following result:
G eorge .1. Gould
Bid: “ Everything is on the up grade and.
as I can see, the signals are set
M • clear track ahead. T h e improve-
to t, whether it be in W a ll street or else-
here, ;» eoming slowly, it is true, but it is
j*t*or tuat it should move along slowly,
aocanse it will be more lasting and sntis-
‘•ctory j 0 aj] concerned.” Andrew Car-
**tic said: “ I beiieve business in this
^JUry is actually beginning to perma-
ontlv improve. T h e outlook is excellent
, * expect to see very busy times when
ririnrn.”
Channcey M. Depew said:
hit shall I tell them (foreigners) o f the
W ell, I shall tell them that it
T?** ,0 me we have crossed the Rubicon
r*“*t ahead o f us now are good times—
* * B*»s activity, general prosperity.”
R i f t s In t h e Clo u ds .
!rfrp;>ry G age, who recently talked
J , the members o f the Commercial
Qabs in session at Cincinnati, all o f
»bom Fere representatives o f the great
®ness interests o f Boston, Chicago.
'a*pinnati and St. I/Ouia. made the reas-
¡»¡"«»ta te m e n tin W ashington that they
a better business feeling than
been noted fo r some time, which they
ptodH a, a forerunner o f a permanent
JJJNremen«. It is w orthy o f note that
reflect rhe common judgment o f bnsi-
**•• firms whose transactions are so wide-
that they are fairly symptomatic
Pnise o f general trade. N or on a
J * of the whole field Is it unreasonable
* «UU that there may be a liftin g op
A ftp-
t0 the business community,
urion anrt
have been agreed
with th * " paa#*d we can settle down
n'esin a f aS8uranne that we shall not be
least tw* 'i1* ? ,ly ,ariff mpasures for at
in wh I t y f° 'ir •''ea^,■ Thp properties
v „ . J r , interested are doing well.
linen .J hlnk ,h<>re ia PTer-T reason to be-
... . at we have long ago passed the
turning point.
thTiuit, a<‘ntimpnt >» Widespread, ard
I
tbere m»y be some unscrupulous
politicians who would block tariff legisla-
. "ti uat|l after the fall election in the
ope that thereby the opponents of the
Republican party would be able to gain
some political capital and advantage, it is
possdile that better counsels will prevail
and the bill will be passed sooner than
was expected.—Albany Journal.
Most E n c o u r a g in g f o r Y ear s.
In a broad way last week was one of
the most encouraging in business circles
that this country has experienced for sev
eral years. The general outburst of con
fidence in financial circles was reflected
in the course of the stock markets, which
were bullish from start to finish. The
reassuring utterances of the President
and the leading members of his cabinet
produced a very favorable impression:
but beyond that it was seen that a number
of encouraging factors were in evidence.
It was perceived that the price of iron
had gone up; that railroad earnings were
increasing; that money was in ample sup
ply for all legitimate purposes; that the
gold exports had dwindled to a mere noth
ing and that the prospects o f a speedy en
actment of the tariff bill were daily grow
ing brighter. This induced a buoyant
tone in the prices of all.—Minneapolis
Tribune (Rep.).
( l o o t P ro p h e ts in th e N o r t h w e s t .
In Minnesota and other States of the
Northwest the spring opens with the
promise of abundant crops, especially of
our leading staple, wheat. And in spite
o f the low prices now prevailing there is
every ground, as shown elsewhere, for
believing that our farmers will realize
fairly good prices for their crops. This
will almost certainly stimulate the ac
tivity of trade and industry in the cities,
so that by next fall, with the aid o f the
new tariff, it is pretty safe to anticipate
a restoration of wholesome business con
ditions. Minnesota, therefore, is in full
sympathy with the cheerful prognosti
cations of Mr. Gage.—St. I*aul Pioneer
Press.
F re e d fro m the Eloueh o f De sp ond .
Occurring separately, the increase in
loans and the decrease in failures would
be encouraging, but coming coincidental
ly. as they do now. they tell a story at
which the country should felicitate itself.
The expansion In the one shows that busi
ness is on the increase, while the con
traction in the other proves that business
is carried on under better conditions than
prevailed recently. This is a state of
things which justifies financial confidence
and cheerfulness. The country is not yet
entirely out of its slough of business di^
spond. but it has advanced so far in that
direction that its complete extrication can
not be long delayed.—St. bouts Globe-
Democrat.
The C ampa ign o f C a la m it y .
To read the daily wailings of the organs
of free silver and free trade will con
vince any fair-minded person that those
noisy journal# have started in to 6 ght the
calamity campaign of 189C all over again.
They are preaching the old pernicious dog
mas of discontent, disorder and disaster
with all the reckless rhetoric of the dem
agogue and the anarchiat.
Professing
friendship for the cause of labor, they are
wickedly striving to arouse the working
man against his employer; pretending to
favor the restoration of prosperity, they
are deliberately trying to stifle the grow
ing spirit of confidence in business en
terprise; and. while ostentatiously mourn
ing over the depression of industry, their
whole influence Is being exerted to make
it permanent and hopeless.
Such are the real purposes of the new
campaign of calamity. In furtherance
of them its organs publish daily columns
of dispatches to show that trade and ,n-
dustry are steadily going from bad to
worse and that the condition o f labor
i. becoming more and more desperate.
To these prophets of evil the report that
i factory has closed its doors, that a fur
nace ha* banked its fires, or that a mill
s curtailed its working force ,s a raea-
,*ge of joy. A story of business fadure
' ^ah-ndoned enterprise is a delight,
u le o
dienes, and want are haded
with glad acclaim, and every line that
tela of paralysis in trade, loss in cap,-
tal and earnings or despa,r among those
* v.
is eagerly welcomed and osten-
«¡ W ■
■ ■
‘ B °S C r t S « » 1 » «
“ *•
.
. „ealth fu l purpose to provoke
ml!
tms between labor and capital,
and^hus undermine the foundation of
and tnn
tn.cture of business pros-
the " * rooS dm” » ".can death to the
Ppr^ : nG% ? fZ trade and free silver.
a* i,atl°, J itv organs know It. snd this
7,116
i* le e is * the
o th?
f their
knowledge
the inspiration
^
^
^
b u r n in g
wage-earners
e o c e n e , and prosperous
^ .^ s t^ d ^ r itu "
fnr {rom what
atlon'V , m be in employment snd pay.
i'
other hand it is much less
but
on .,n t h " ^ the
oracles
distressing
tn« mouthy The
« „ ^ o t f
ch a os would h
workingmen nnder
o f the grpat
:
„-hirb now prevail
the harsh ron d '«.«"’a «
i<Miee. hope-
„
been .d a ta b le m_ nt P ^
fulness • «
j
of demagogues a
^
charlatans to incite
^
Mnki of ,a bor
wiv-v.-xmen tbemie ’'««•
< * * • “ “
G ood P r o g r e s s Mode.
Special Washington correspondence:
People who are complaining o f what
they assume to be the slow progress o f the
tariff bill will probably be surprised to
know that no administration since that
of Washington ever placed upon the stat
ute books a tariff measure within as brief
a period o f its inauguration as will that
of President M cKinley. There is every
reason to suppose that the tariff bill will
go upon the statute books before the end
of July, probably much sooner than that.
I f this shall happen. President M cK in ley
will have an opportunity to attach his
signature to a general tariff measure ear
lier in ’ he history o f his administration
than has any President since George
Washington signed the first tariff act on
July 4, 1789.
This remarkable record which Is likely
to be made with reference to the present
tariff bill is made more remarkable by
two facts: First, that every year’ s devel
opment o f our commerce and manufac
tures adds to the complications and diffi
culties In framing a tariff measure, and
second, the fact that the party in control
of the administration controls only one
branch o f Congress. It has seldom hap
pened in the history o f' the country that
a general tariff measure has been placed
upon the statute books when Congress
and the administration were not controll
ed in all their branches by a single party,
and that it should be possible to pass a
tariff measure so immediately follow ing
such a hotly contested campaign as that
of six months ago with one brunch o f
Congress controlled by those who were
pitted against the Republican party in
that contest, is the more remarkable. In
deed, a study o f the history o f the tariff
legislation in the United States would
not have warranted a year ago the pre
diction that a protective tariff till could
have passed a Congress which was not
controlled in both its branches by the Re
publican party.
It may be o f interest, l>oth by way o f
presentation o f some tariff history and
also o f satisfying those who are inclined
to criticise what they assume to be the
slow progress o f the work upon the tariff
bill, to run briefly over the history o f the
tariff legislation o f the country from the
beginning down as connected with the
various administrations.
The first tariff act placed upon the stat
ute books was signed by George W ash
ington, July 4, 1789. Not only was it
the first tariff act under the constitution,
but the first protective tariff measure, in
dicating in its preamble that “ it is neces
sary for the support o f government, for
the discharge o f the debts o f the United
States and the encouragement and pro
tection of manufactures that duties be
laid on goods, wares, merchandise import
ed,” etc. The consideration o f this act
occupied but about two months’ time, as
Washington was not inaugurated until
April 30. and the work upon the tariff
bill did not begin, o f course, until after
that time. This tariff act was o f course
very brief, the space „ecupied being prob
ably less than one-twentieth o f the bill
now under consideration. Several other
tariff measures were
adopted
during
Washington’s administration, most of
them being an increase upon the rates
named by the first measure.
John Adams, who became President
March 4. 1797. did not sign the tariff hill
enacted under his administration, which
increased the rates o f duty on sugar, mo
lasses. wines, etc., until M ay 13. 1800,
over three y ears after his inauguration.
Jefferssn. who was inaugurated March
4. 1801. did not attach his signature to a
general tariff bill until March 20 . 1804.
the bill passed at that time having for its
object an increase in the revenues to sup
ply funds for the war with the Barbary
powers. This aet inereased the ad va
lorem rates, and on the follow ing day. a
similar aet increasing the specific rates
was signet!, both o f them being more than
three years after Jefferson's inaugura
tion.
Madison was inaugurated
March 4.
1809. and the first important tariff, t»
increase duties 100 per cent on account of
the war with Great Britain, was signed
July 1, 1812. more than three years after
his inauguration. He also signed a gen
oral tariff act April 27, 1810. three years
after his second inauguration.
Monroe was inaugurated March 4. 1817
and signed his first and only general tariff
act May 22. 1824, more than seven years
after Ills first inauguration.
John Quincy Adams was inaugurated
March 4. 1825. and signed a general tariff
act May 19, 1828, more than three years
after his inauguration.
Jackson was inaugurated
March 4,
1828. and signed his first general tariff
act July 14. 1832, more than three years
after his inauguration, while the Clay
compromise reduction act
was signed
March 2. 1833.
Van Boren's presidential term, which
began March 4. 1837, was not marked
by the enactment o f any important tariff
legislation.
W illiam Henry Harrison, who was in
nugurated
March
4, 1841, issued on
March 17 a call for a special session o f
Congress to begin M ay 31, indicating by
the proclamation rhat the subjects to be
considered were the financial difficulties o f
the Government. T h e tariff act finally
passed by the Congress which that proc
la m a tio D called into special session did not
become s law until August 30, 1842. or
fifteen months after the date named for
the beginning o f the special session.
Polk ’s term o f service began March 4,
1845. and the “ W a lk er tariff.” which was
the special tariff feature o f his term, did
not become 1 law nntil July 30, 184(5. six
teen months after his inauguration as
President.
The T aylor administration, which began
March 5, 1849. did not witness the enact
ment o f any genera! tariff legialstion, ow
ing to the fact that the Democrats con
trolled the House o f Representatives dur
ing the first two years o f the term and
both branches o f Congress in the second
half o f the term.
Pierce, who was inaugurated March 4,
1ST*3. signed on March 3. 1857. the last
dav o f bis term as President, the only
general tariff measure enacted during hia
four yeara in the
hite House.
Kui banan. «luring hia four yewrs, which
began March 4. 1857, signed no general
tariff legislation until March 2. 1801. tw o
d*ya before the cloae o f hia te n ». Thia
act, alga ad tw o day« before Ma retirement,
was the “ M orrill” ta riff art, a thoroughly
• f last year. The fa rt A a t large number*
protective measure, whose paaaage waa
made poasible at that time because o f the
fact that a large number o f the Southern
Democratic members o f the Thirty-sixth
Congress had withdrawn, leaving Con
gress in the control o f the Republican
party, which thus placed a tariff act upou
the statute books tw o days before the in
auguration o f Lincoln.
President Lincoln, who was inaugurat
ed March 4, 1861. signed his first general
tariff act on Aug. 5 o f that year, and this
was followed by the passage in July, 1862.
and June 3. 1864, o f other tariff measures,
to which bis signature was attaoh<>d.
Grant, who became President March 4.
1S69. signed on July 14. 1870, his first
general act relating to revenues, by which
the internal revenue taxes were reduced,
this being followed by another reduction
on June 6 , 1872.
President Hayes, who was inaugurated
March 4, 1877, signed no gpneral tariff
legislation, the House being Democratic
in the first Congress under his administra
tion and both branches Democratic in
the latter h alf o f his term.
T h e Garfield-Arthur administration,
which began March 4. 1881. did not w it
ness the enactment o f any genera) tariff
legislation until March 3. 18S3, two full
years after the inauguration.
Cleveland’s first teçm was not marked
by the completion of any general tariff
legislation, the M ills bill, which passed
the Democratic House in 1888. failing in
the Senate, which was so closely divided
politically that it was found impossible
to pass through It a measure satisfactory
to the administration,
the
substitute
which wan adopted by the Senate being
rejected by the House, where the Demo
cratic divisions on the tariff question, now
so strongly marked, was then beginning
to make itself apparent.
Benjamin Harrison's term began March
4. 1889, and the first general tariff act
passed under his administration was sign
ed Oct. 1, 1890, eighteen mouths after his
inauguration.
Cleveland's second term, which began
March 4, 1893, with his own party in con
trol in both branches o f Congress, did not
witness the completion o f its tariff nu-as-
ure until Aug. 2S, 1894, nearly eighteen
months a fter he took the oath o f office.
A study o f the above history o f the tar
iff from the beginning of the Government
down to the present time will indicate to
those who have been inclined to criticise
what they assume to be the slow action of
Congress that instead o f its action being
unusually tardy, it has been unusually
prompt, and especially so in view o f the
fact that the party ¡ d control of the ad
ministration controls only one branch o f
Congress, a condition under which it hns
seldom been possible to pass a tariff meas
ure, evpn in a much greater length o f time
than has been or is likely to be occupied
in the present instance.
G E O R G E M E L V IL L E .
The S u g a r T rust Scream ers F la g
A tta c k * ■ •a c t in g on T hem sslvm ,
There ha* been some especially
talk in the Senate and some o f the peopl*
who are seeking to make political capital
by throwing dust with reference to thw
pending tariff bill have suddenly d 1 a*
covered that there are two side* to almost
any story. T w o or three Democratic
leaders seem to have reached the conclu
sion that they could once more fool tho
people, and that their moat convenient
way to do It would be to charge that th*
sugar schedules o f the tariff bill aa agreed
upon by the Republican caueua were fa
vorable to the sugar trust. 80 they pro
Home F r e e S ilv e r O utcast*.
ceeded upon the “ stop thieF' plan to mak*
Some individuals, who bolted the Re all sorts o f malicious charge* o f this kind,
publican party last year and voted for taking advantage o f the fact that Repub
Br.van, held a m«>eting in this city and licans id the Senate have been refusing to
organized what they call “ T h e Silver Re discuss any features o f the bill not abso
publican P arty o f the United Stati-s.” lutely necessary to be explained, »im ply
For some reason they do not care to join for the purpose o f gaining time and get
the Populists or the free silver Demo ting the hill through as promptly as poa
crats. They seem to think they will have sible. The gentlemen have found, how
a better chanoe o f picking up offices if ever. that there ia a limit to the endur
they have a distinct organization.
ance o f the public who are being imposed
These bolters cannot be prevented from upon with this sort o f falsehood, and tho
forming a new party, but In doing so they newspapers o f the country have suddenly
ought to state clearly to the public what revived the fact that the very men who
its principles are and what reason there are now shouting sugar trust with refer
is for its existence. That has not been ence to the pending tariff bill are tho
done. Ex-Congressman T o w n « declares ones under whose guidance the “ per
fidy and dishonor” bill o f 1894 was fram
that—
“ This is a movement that has taken ed and its sugar schedule so shaped aa to
deep root, and will grow until the restora create the gr«-ntest scandnl that has been
tion o f silver to an equality with gold has known ¡ d political history in many years.
b«»en accomplished.”
Attention ia called to the fact that the
W hat is this equality that T ow n e and three men. Senators Vest. Jones and
his associates are going to devote the Mills, whose monthings about an increase
rest o f their lives to securing? Does he in prices o f sugar trust stock as a result
intend to say that the time will come o f the pending tariff bill have been tho
again when sixteen ounces o f silver will features o f the week, are the very men
exchange everywhere for one o f gold?
who framed the sugar schedules o f tho
T ow n e should look the facts In the W ilson bill under which sugnr trust
face. The price of silver, which was 130 stocks advanced 66 per cent., while the
cents an ounce in 1870, is 60 cents now. advance during th? entire consideration
In spite o f the low price the silver miners o f the present bill is only 6 per cent, and
o f the United States put 56,000,000 this a mere incident o f the general ad
ounces on the market last year aud made vance which has been strongly marked
money at the business.
meantime in all stocks. That the three
The demand for silver by silver stand men whose manipulations in the schedules
ard countries is decreasing because the o f the W ilson bill caused un advance of
number ot those countries is diminishing. 66 i>er cent. In the prii’ e o f sugar stocks
Japan, the most progressive o f Asiatic should now be screaming like madmen
nations, with a population o f 41.000.000, because segar stocks have increased 6 per
has adopted the world's gold standard. cent, during the consideration o f the pres
Peru and Bolivia, though silver-produciug ent bill would be unaccountable but for
countries, are preparing to do so.
the fact that they are apparently doing It
Does T ow n e really believe that his lit to not only make political capital against
tle “ movement" will be able to raise the the Republicans but at thp same time
purchasing power o f 371 grains o f silver conceal as fnr as possible their own rec
until it becomes equal once more to the ord Tn this very line.
purchasing power o f twenty-three grains
o f gold? It is difficult to believe that any PolitioianH W o r k lu g C ou n try P e o i la
intelligent man who knows what the
T h e dangerous characters who w ereja st
present silver production o f the world is. fall hired to stir up dissatisfaction and
and how much more cheaply It is pro sow seeds o f anarchism ami riot in the
duced than o f old, really imagines any cities (.re now being sent through th#
thing o f the kind.—Chicago Tribune.
country districts for (he same purpose.
They travel in gaudily pninted wagons,
E x p o rt B o un ty on F a r m P r o d u c ts
bearing false or misleading quotations
The proposition for a bounty on staple from distinguished men. which are dis
agricultural exports is not a new subject. torted into apparent support o f the fres
It is a departure from the protective pol coinage o f silver, which ia now worth less
icy.
It has been eonsitlered for some than one-half what it was when these
years by the farmers, especially by the utterances arc alleged to have been made.
members o f the National Grange, where T o conceal their real purposes these men
it has been fully discussed but not yet profess to be obtaining aubscritx-rS to a
indorsed by a m ajority o f that body. Some free silver publication, with which la ft r-
o f the propositions seem to be favorable, nished a copy o f a book by “ Coin” Hnr-
but it is doubtful whether the giving of h vpy. whose writings are now recognized
bounty on agricultural products would be as not only untruthful and misleading,
beneficial to the farmer. T h ere might, be but punmsely and maliciously so and an
some temporary benefits, but if it stimu imposition upon those before whom they
lated production the effect would be dis are placed. This attempt to distribute the
astrous to the farmer. W hat troubles the seeds o f distrust, anarchism nud riot In
farmer row and makes low prices for his the agricultural communities for the pure
productions is the fact that he is now ly selfish purpose o f making a market
producing more than the mnrket will read for the property o f silver mine-owners
ily absorb o f certain commodities.
So and placing a few politicians in office de
long as he continues to do this he must serves the contempt o f those upon whom
be content with low prices. I f this boun it is being imposed.
It is o f the same
ty should stimulate the production and class ns that by which the tin peddler
increase the surplus offered in the mar wagons spread falsehood through the
kets o f the world, it would have the e f country in the Congressional campaign o f
fect of decreasing the price received by 1890, hut Is vastly more dangerous to
the farmer rather than increasing if. As the country from the class o f employed,
I said, it is a departure from the policy the doctrines they disseminate and th#
o f those who believe in protection. The desperate schemes o f those who support
protective policy advocates the encour them in this performance.
T h e silver
agement o f production in those lines mine-owners and their political allies bars
where we are now not producing enough resorted to this new device to deceive th#
to supply our own people, but arc depend people, who are. however, rapidly discov
ent to an extent on foreign countries for ering the impositions they practice.
our supply.
This proposition does not
have such a purpose. It proposes simply
A C u rren cy Coin m ission U rg e d .
to dona’ e to the farm er certain bounties
A currency commission which shall
on products exported, and it is doubtful frame a plan for the general revision o f
whether it would at the most have more the currency system o f the United States
than n temporary beneficial effect, with seems likely to he the next step o f the new
a tendency to bad reactionary results.— administration, a fter Ihe passage o f the
From Interview with Assistant Secretary tariff bill, which will probably take place
o f Agriculture Brigham.
before the end o f the month. It Is un
derstood in W ashington that the Presi
T a r iff P rospect# A r e H elpin g.
The progress made by the Senate with dent will, as soon as Ihe tariff bill passes
the tariff bill has given some Impetus the Hennte. send a special message to Con
to general business and has created a gress urging the creation of a commission
more hopeful feeling In all departments which shall devise a plan for the general
o f trade. T h e m atter is not entirely sen revision of the pur^eney system o f ths
timental or at all partisan. T h e doubt country in time for consideration by Con
and instability which have plainly sur gress when it meets in its regular session
rounded every commercial avenue and five months hence.
Political Pith.
President Cleveland pulled down the
American flag in H aw a ii; President M c
K in ley pulled it up again.
One-third o f the Southern vote in the
present Congress has been cast for pro
tection.
E very day's consideration o f the Senate
schedules o f the tariff bill brings them
more in harmony with those o f Ihe House
bill, and it is probable that the bill, when
it goes into conference, will differ but lit
tle from that which passed the House.
The shades o f the late Samuel J. Ran
dall are now being invoked by the Democ
racy of that section which fought him
most bitterly during the closing period o f
his useful career.
W ith one member o f the Democratic
team pulling in tile direction o f free trade,
another towards protection, still a third
in favor o f free silver, and a fourth head
ed resolutely toward the gold standard,
the Jeffersonian-Jacksonian hand wagon
is not making much progress.
The recent “ silver Republican” confer
ence is said to have had as its real object
a plan to unload Mr. Bryan ns the leader
o f the silver cause.
Mr. Bryan has too
many “ isms” and is to erratic to suit the
men who are putting up the money in be
h alf o f the silver cause.
N o subject is being more carefully con
sidered by President M cK in ley now than
the Cuban question.
It has been the
cause o f much anxious thought by him
from the beginning and there is good rea
son to believe that his plans are well de
veloped and will ke recognized as wide
and satisfactory
when they become
known.
T h e trade review# and the dally papers
o f the country unite in the assertion that
business is brightening in all parts o f the
United States. More men are employed,
the volume o f new orders is increasing,
and the amount o f work done is steadily
gaining. W ith the final Hction on the tar
iff bill, which may be expected during the
present month, an increased improvement
is confidently expected.
People who are surprised that the R e
publicans in the Senate are not answering
in detnil the attacks made hv the Demo
crats upon the pending tariff bill need not
suppose that it is beesuse o f lack o f argu
ment or facts upon which to base them.
Th eir silence is simply because of their
unwillingness to consume s mompnt of
time more than is absolutely necessary
in getting the bill before the Senate.
C a n 't B e F o o le d E v e ry Tim e.
Some people can be fooled once or
tivice, but very few more than that. Mr.
Bryan in hia speeches last fall asserted
that the forty-tw o million dollars neces
sary to keep pace with the growth o f pop
ulation in the United States could not be
produced since the suspension o f free
coinage o f silver, and quoted Senator
Sherman in support o f his theory that this
amount was necessary to be added to the
currency o f the country each year
He
was undoubtedly right in his quotation o f
Senator Sherman, but both inaccurate and
misleading in assuming that this amount
o f currency cannot be and is not added
to the circulating medium o f the country
by means o f its present facilities. The
coinage o f the mints o f the country in thp
year which ends with the present month
will be, in round numbers, one hundred
million dollars, three-fourths o f it gold,
while that o f the calendar year 189(5 was
ninety-nine million dollars. Add to this
the fact that th » money in circulation
to-day ia $138.000.000 more than it w as
a year ago and it will be seen rhat Mr.
Bryan's statements in this, as well a#
in many other things, were, to say the
least, misleading.
P o p u lists W a n t No Fu sion.
Populist leaders are advising against a
continuance o f the fusion o f last faii be
tween their party and the Democrats.
T h e uncertain attitude o f the Democratic
party on the two great quest ions, protec
tion and sliver, is the cause o f this un
wUlingnann to continue the unholy alliance
o f Democrats In »v e ry State where cam
paigns are to take place this fall are re
fu tin g to enpport the free coinage o f sil
ver, and that many members o f that par
ty in Congress and elsewhere are aban
doning free trade and supporting high
protection, has rendered a further alli
ance o f the two parties improbable. Mr.
T . B. Rankin, a prominent member of the
Populist party in Ohio, in a recent in
terview. said: “ The object o f the or
ganization o f the Populist party was to
secure ueeded reforma, not *0 stab the
Democratic or Republican parties. 1 was
opposed to fusion last year, and am still
more opposed to it now.”
which always exist while tariff uncer
tainty lasts will in all probability aoon
be removed.
F or the firs* time since
1887 the business of the country will be
in a free and untrnmmoled position and
the favorable effect on credit and individ
ual action canot be too highly estimated.
Th e m anufacturer and the distributor
w ill be able to see clearly into the future
and the money lender and the money bor
rower will be able to act understanding^.
T h e prospect hns already caused some
activity In the iron and ivteel trades, and
hns given definite assurance in other di
rections.
The great m ajority of the
Am erican people hope for and have con
fiden ce*^ substantial results. The gen
eral situation is ripe for the change.
Money Is abundant at low rates, i ’ riep
is on a level which practically guaran
tees judicious operation*.
D is a p p o in t m e n t f o r F o p o e r a ts .
Dis#appointment
follows
disappoint
ment among the Popoeratie lenders. Not
only are they disappointed in the fact
that the Republicans have presented a
solid front on the tariff question and fail
ed to quarrel among themselves upon cur
rency. or any other question, but they are
eVen more distressed to find their own par
ty falling to piece* on the question o f pro
tection as well as silver, since their vot»
against the protective featnres o f the tar
iff bill i* grow ing weaker daily, while
their argument* in hpbalf o f free silver
an- being disproven by every w eek'* de
velopment* since the election.
A n tics o f J on es, Vest, anil M i ls.
Senators Jones, Vest snd Mills didn't
know it was loaded. They began shout
ing about a small advance o f about 6 per
cent, in the v * I hp o f sugar trust slock*
simultaneously with a settlement o f the
sugar schedule by the final at-fion niton
it in the Senate caucus, but had evidently
forgotten that when the tariff hill was in
their own charge, in 181(4. stocks o f (hi*
same sugar trust advanced 55 per rent-
in value during their manipulation o f the
bilk
DIDN’ T KNOW IT W A« LOA DE
T h e ir T h e o rie s E x p lo d in g .
I f farm prices do not stop advancing
and silver prices do not stop their down
ward course, there will In* nothing left to
sustain the chief theory of the free coin
age orators o f last fall that prices o f
fnrm products kept pace with those o f sil
ver.
Lea «¡tug (arm products have in
creased in price from 50 to 100 per cent,
since this beautiful theory was exploited
on the stump Inst fall, while the price of
silver has meantime steadily decrease«!.
M o v in g tv it II C ant on.
E very side of the Cuban question Is be
ing etjnsidered by President M cK in ley
now. and a «•onrse o f action Is likely to be
indicated in the m ar future. Th e import
ance and gravity o f the issue# Involved
and possible «■oaseqitence# o f a mistake
are so great that the President and bis
advisers are moving with thp utmost
caution, as any Jndlcions citizen would
do if such grave responsibilities, were
placed upon his imliviilttal shoulders.
P la n to D u m p Prv««n.
“ Rotation in office" is popular w ith the
friend# o f free silver as well a* others.
It is whis,>ere<l that the rial «-aitse o f tjje
Chicago gathering o f a few «lays since
which ofganixed what wn* called the sil
ver Republican party was to set on foot
a movement which should push to the
front an entirely new leader for the silver
cause and dump to the b'dlom o f the d«op
blue sen W illiam Jennings Bryan, who
led the party to defeat last year.
D istrcaaing »0 P o 'It le a l E n em ies.
T h e absolute unanimity o f purpose in
the Republican party anil the solidity of
its ranks in th«' Senate is distressing ita
political enemies greatly
The
party
dissensions which they had expected to
see crop out among the Hi publicans bars
mail* their appearance on their own •Mi#
nf th# <‘bj«mh<*r. I h >\ vhv * t .
ihi* u<itl« to
tbk* difltrt** o f th# h«rulin’. *»f ¡(«MilUm**fi
« bo
i u t t r i»i* lb * )i*Nti< r» o ( tb *f
part/ ia tad out o f Cougreta.