Rensselaer Republican, Volume 24, Number 8, Rensselaer, Jasper County, 22 October 1891 — SENATOR SHERMAN’S LETTER. [ARTICLE]

SENATOR SHERMAN’S LETTER.

Statistics shoxir that of the total commerce of tne eleven months ending Aug. 31, 1891, the value of our imports of merchandise was $763,210,965, an increase of $25,681,316 over the value of the imports of the corresponding months of the prior years, and the value of the exports was $49,087,323 over the prior period.

The value of merchandise imported free of duty during the eleven months ending August 31, 1891, was $364,661,336, as compared with $252,648,255 imported free of duty during the corresponding eleven months of the prior years, an increase of $112,013,081 daring the first eleven months after the enactment of the new tariff. These figures afford a complete answer to the tariff for revenue argument of Democrats. Not only have exports increased under the McKinley bill, contrary to Democratic prediction. but the imports are larger, the free list part of them greater and the revenues reduced $70,000,000 annually.

To a certain extent The Republican was “barking up the wrong tree” last week, in the article in regard to the non-delivery of mail matter, with trifling mistakes in addresses. From explanations received by Post-master Rhoades, from the office of the superintendent of the Fifth Division, at Cincinnati, it is evident that the trouble is not there, but with a few smart Aleck mail clerks. The most of these cleiks are remarkably efficient and conscientious men, and try faithfuiry to seiid to ite proper destination every piece of mail matter they arorequired to handle, even if- the directions are not spelled and punctuated with as much accuracy as though written by a Massachusetts schoolma’am, but there are a few exceptions to that rule-men in whose hearts there is more joy over one letter sent in the limbo of “Nixy” than over ninety and nine sent to their intended destination, Superindent Burt, we understand, is laying for the fellows who are making the trouble, and is likely to bring them up with a very short turn.

Here is a brief, and not at all exaggerated s..mmary of the practical results of the McKinley law, during the short time in which it has been in force;. The McKinley law has been in force less that one year. It is a short test of a measure which touches the pockets and prosperity of every American, but under its operation, however, statistics show that, in a list of articles compris- i ing almoiU ail in general use, and affected thereby, less than ten per 1 cent thereof have increased in retail price, thirty per cent remain substantially unchanged, while sixty per cent cost less to-day than they did one year ago. A home market for Americ products isbeingsecured. comp; h taon stimulated, prices lowered, ; ID'hl instances. Imports of mtj .1. it. ii cu non-dutiable products > iixst cased; exports have grown

enoimously, and as the New York Press- truly says, “ the lesson of these facts is plain. Out foreign trade is not dwindling, but growing under the McKinley law, and McKinley prices are lower prices.” Domestic enterprises producing an out-put of sugar, twenty-seven millions in value this year, have grown up thereunder to affect the farmer most favorably. It will be remembered that with an insufficient home supply thereof, the placing of sugar upon the free list was opposed by almost every Democrat member of Congress.

There has been no more timely contribution to the current political campaign of education than Senator Sherman’s reply to Mrs. Emery’s pamphlet entitled “Seven Financial Conspiracies.” The pamphlet was first issued in 1886 under the patronage of the Labor party. Last year 75,000 copies were distributed in Kansas by the People’s Party. The Farmer’s Alliance as- an organization has had nothing to do with the pamphlet as hysterical a document as was ever printed. But the bureau of the People’s party is printing 500,000 copies for distribution in Indiana and other states, and as some of the leaders were making the matter personal to Senator Sherman, he fires a broadside at the piratical craft?

The seven “Conspiracies” begin with the exaction of coin in payment of duties on imports (1862)/ and close with resumption in 1879. \V ith one exception Mrs. Emery’s statements as to facts are left unchallenged, the point of defense being that the course pursued was clearly for the good of the country, and in some cases absolutely necessary to the perpetuation of the Union. Theonly issue of fact raised relates to the so-called

contraction of the currency. Mrs. Emery merely repeats the statements as to contraction which have been in common use among the Alliance people, newspapers and orators from the first, anc what Senator Peffer used in his s peech in Rensselaer, last August. Time and again have these false statements about contraction o' the the currency been refuted. Mrs. Emery reckons the contraction at something over a billion dollars, namely $473,000:000, in 1868, $500,000,000 in 1869 and $67,000,000 in 1870. “Now these statements,” observes Mr. Sherman, “are absolutely false.” Wha;

she calls money in these paragraphs was the most burdensome form of interest bearing securities, Treasury notes bearing 7 3-10 per centj interest and compound interest notes. This is percisely the explanation that has so often been made, and it meets the caes fully and the absolute truth of every wordof it is beyond question.