Rensselaer Republican, Volume 27, Number 3, Rensselaer, Jasper County, 13 September 1894 — THE CAMPAIGN. [ARTICLE+ILLUSTRATION]

THE CAMPAIGN.

The Struggle Now On—Democrats Are Already Beaten. The Probable Effect of the New Law, ’ Indianapolis Journal. Speculation is general as to what , the effect of the passage of the new tariff bill will be. Business has been paralyzed so long and the public tension has been so great pending the agitation and uncertainty that the country would prefer almost ' nysettieiiicinTof“thequusdiiwttiat promised to be even tolerably pernmnent to continual suspense, and busT ness would adjust itself to almost any conditions. Unfortunately, however, the new law is not offered as a finality or as an end of agitation. Chairman Wilson distinctly i foreshadowed that the passage ►of -the Senate bill was to be merely a stepping stone to further agitation and further legislation in the same direction. _ So, too, Speaker Crisp said: “While these schedules are not all we wish, they are, and we want the country to understand it, the best we can now get. The moment we get this we intend to mo ve for ward: we do not intend there shall be an v backward steps in tariff reform.” The popgun bills passed by the House for free coal, iron ore. barbed wire, and sugar, foreshadow the samepolicy. The fall elections may cause the Democratic leaders in the House to reconsider chis policy, but it will not do to build any hopes on Democratic intelligence or responsiveness to public opinion. As -new,—fereshadowed the Democratic policy 7 is continued agitation and warfare on American-industries. Under ..these circumstances no great d'r genera' r.?vi-val of bus iness~ can be expected under the new law. Ex-President Harrison diagnosed ■ the situation correctly when he said “the determination of the. House to report special tariff bills will ten'd strongly to prevent that business improvement which may have resulted from any definite settlement of the tariff question.” Nevertheless, the passage of the law will be followed by a sense of relief and some improvement, at least in some lines of. business.l The adjournment, of Congress is almost always a relief to I the country, and under present con-I ditions it will be particularly so. If. the bill, as bad as it is, had been : passed and Congress had adjourned j four or five months ago, fall trade! might have experienced a degree of j improvement which call not be hoped l for now. . j One the first effects of the now law will be a sudden, influx of foreign goods, which may almost glut the market. The government bond-J ed warehouses in all the larg's‘l ports of entry are full of goods of ; foreign manufacture, which the irn- | porters have left hi bond in antici- j pation of lower duties. As stocks are now at a low ebb and as importers will get the. benefit of the lower duties they will hasten to get their goods out of bond and put them on the market. They will be I followed by large orders, which for- j eign manufacturers are ready to fill and are anxiously awaiting. Thus the first and perhaps the only benefits of the law will be reaped by importers and foreign manufacturers. As a result of taking the large stocks of goods out of bond and of the large importations which will follow, there will be a very considerable increase in the government revenue from customs duties. As thes» for some months past have been distressingly small an increase will be gladly welcomed by the government. The new law will kill some industries, cripple others and put an end to all hope of an increase of wages in any. If the price of manufactured products of any kind is reduced it. will be because the market will be glutted with foreign goods

and because American manufactui ers are trying to compete with thei foreign rivals on falling wages. An seeming revival of business whic may accompany the reaction fror long prostration can only be tempt rary, or, at least, can only be mair tamed on a scale of .wages lowe than has ever been known in thi: i country. j- — The c en t ra i Fact. i Indianapolis Journal. It is not that there is less mone; in the country than two years ag I that there are silent factories am I workshops and idle and half employee " men in every erfy. There was neve • more money in the banks, and, lik j the would-be wage-earners of th country, it was never so idle. It ha i fared as badly as labor, because hun ! dreds of millions have not had a day’ . work since the country becanr aware that Mr. Cleveland’s part; 1 was really intent on destroying th . protective features of the tariff more than a year ago. If the money which the people of all kinds have put into the banks could be taker out and invested in material and wages to set the factories and workshops at work, there would be nc complaint about the scarcity of money by any except those who demand that the government shall practically give them all the money they can spend. But what prudent man would borrow money to set any of the 1 arger factories or shops in this and other cities in Indiana al work? Factory owners with idle l plants are only too anxious to start up, but after searching the country over they can find no orders and no certainty of orders. Even if any man of the party in power, and which is responsible for this distressing situation, should have so muck faith in the future wisdom of his party as to start up a large industry and take the risks of selling the product, it is very doubtful if he could - find a Democratic banker who would discount his notes of sered to raise the money which is always necessary to make goods for th. iiiarket. unh'ss he shouid put up gilt edge collaterals. Democrats as well as Republicans, alleged freetraders as well as urotectionists,dare not start the industries which give employment and put money into cir-culatioir-to pay wages. Half the people have no money with which to buy, and they can have none until the varied-industries of the country give employment. When employment shall be full, the great volume of all wane money will be in circular tion. If wages are good, the channels of trade will be filled with the purchases of such -wages. If wages are so low as to compete with European co’mpetitors on what Senator Mills has called the “same plane” >he channels of trade will run low in the banks because the aggregate .wage is not enough to fill them. Now the st ream of traffic is smitten with the fierce August drought of the Democratic Congress. There is nothing new in these observations. On thecontrary,they are old economic and practical axioms. Still, they may be forgotten by some who listen to the chatter of demagogues and cranks to the effect that Congress can create prosperity by printing millions of pieces of pa;>er stamped with dollar marks and figures. They cannot. Miracles are not performed in the realm of values. Mr. Nufich —I See by this morning’s paper there’s another great slump in The corn market. Mrs. Nurich —Good land! You’d better hurry down and buy it. We need soriiething to fill up that empty corner in the library. “Don’t the children in the flat above annoy you?” Lady—No; they quarrel and fight most of the time. “Do you enjoy that?” Lady —Yes; it keeps the parrot cross the way from talking.

HOW THE CONFOUNDED THING WORKED. Democratic Orator in 1892 Drop your ballots in the slot and see better wages and higher prices for wheat come out.