Richmond Palladium (Daily), 24 November 1900 — Page 10

PROSPERITY OF THE AMERICAN FARMER..

His Markets Better Than Ever Before and Prices for Farm Products Largely Increased as Well as His Crops Wheat Consumption Aain at Normal Figure - - --. -w- V V V W r VV-V. .a- . A A a A. f f f f "j f The Husbandman Now Pays Lower rreight Kates and Cjets More Money tor His Live btock flinching Arguments Against the Abandonment 01 repuolican Policies Which Cannot Be Met Facts and Figures That Are Profoundly Impressive.

No class of tftixens Is more deeply Interested In the continuation of the Republican administration than the American farmer. It la a mutter of history that rural prosperity and Republican rule are coincident. It Is equally a matter of record that agricultural depression, mortgage foreclosures and low prices for farm products accompany Oemocrallc administration of national affairs. Th prosperity of the farmer depends upon the pi -..-iperity of all other Industrial elements of our population. When the Industrial classes are employed at American wagea their tonsumption of farm products Is on a liberal i-cale and they are able and willing to pay good prices for the neeeiisitles and luxuries of life. Under such conditions there Is a Rood market for all the farmer has for sale. Vien the reverse, is true and workmen ara Idle or working H-ant time at cut 9 aires they arc- forced to practise pinching economy and the farmer necessarily lores purt of his market. The American farmer Is prosperous when well-paid workmen are carrying we'I-fllled dinner pa'.ls, a condition which has accompanied Republican supremacy since the birth of the party. Idle men. tramps and souphouscs. familiar sights under Democratic rule, furnish but poor markets for farm produce. During the lust four years the farmer Ims xl.ared with the business man. the manufacturer mid his workmen, the railwuvs and tlielr employees, arid the various classes of our citizens, in the general pronirity following the return ti jioteetion. His markets have increased :oth at bu.T.e and abroad, anil with this increase have come advanced prices for what he sells and advanced value of that allien he retains. On all farm products the rate of duty was reduced by the Wilson tariff, and In most cases that of he McKinley tariff was restored by the Idngley tariff. This Increase has had Its ! fleet In cheeking the Importation of manufactured articles of farm production and thus hna saved to the farmers a t-hare of the home market. THE WIIKAT CONSUMPTION, frlor to th- election of P'2, and the depression which Immediately followed It. the amount of wheat retained for oo.isumpthm in the Unitet States was about six bushels per capita. On some occa-

A CLINCHING The best sli iwing of the change In the condition of the farmer between the first nomination of Mr. McKinley and his ren iminatlc.n 1m a simple statement of ths prices rulini? for farm staples at each I'mcu proilnetH. i'nrn .No. '2 w anal N. a... 't H r-itriey I '4ratieH ....... lilt Max seed KtuttT , I fcee ......... 1 .1--. hK -ennle ... eep 4 U'vr fcccd. . . . t ithliu ......... Wool Pkioiu corn Ile)fl Millet seed tirade qitoted- . . . No. 2 In Ht-e . . . Ni. M i)rllitf . . . . No. 2 In tre ... No. 2 la Hfere. .... lair to tfihxt malting ...Choice HmlMuil No. 1 timothy .. . No. I N. W ... t'reii tilery lirotti .... Kiill-n-eaiii. choice .... liettvy put kln . ISuo lier HteerB .... WKierim . . . Prime ontmct . ... kt)lnl;nx npluiHin . . . Tub ttrthed ... Self work ma, fislr to (foo.1 N. V. StIe ebolre . . . ;erlnan . . . . Kl!-ti. lOi lrtlT fresh Nite.- - tv New

Tbe atmTP are 'hlca market cuetatlo09, except York (luotatious.

.lons It exceeded that fiicure. being In 18S3 mid isso more than six and one-half bushel per capita, and seldom falling below live and one-half bushels. In the yeui IS3. however, durins the depression which immediately followed the election of a Iemocratic President and a free trade t'onnrcss. the per capita wheat consumption fell to IS bushels, in lt 10 a.41 bushels and in 1M7 was 3.S8 bushels. Immedljtely followiiiK the repeal 11 the Wilson tariff there was a marked Increase In the per capita consumption, and In lie It had attain about reached lis normal ItKure. being for that year i ?d bushels per capita. SHEEP ANl V(llL VALUES. It I not necessary to multiply illustrations to show the reduced consuming power of our people under the depression which mi eonipanled low tartrTs. but some ticun .4 prepared by the lepartntent of Agriculture, showing the value of crops and of farm anlma s. indicate something of the t remeuuous losses to the farmer wl.kh uceompanle.l and Here the leiiitlic.nte fruit of the low tariff experiment of iN.3-lil7, J Taae the single item of wool. The Wilson law. as Is well known, gave the countiy in th- item of wool an example of the eftY.'i of genuine Simon Pure lemota'le free Ha le. It was to the free tradruled th'1 on re teeming feature of that net whose feeble attempt at letainlng a h!i.tlow of prottetnn was denounced as ..it videtve of "party pevtuiy and dishonor." I'mler that act importations of fueiiin mini, wl.leh had iever but opve ie.ntnd so much as l." .H.tM pounds, v t if to iis very first year more than ji. i.o di,iM potm-is. and In i closing year Ceeeled 'l ' poiliuls. , S H COUSe,uc!;cc. wwd fell marly Z per cent, in I lie. the ttetober p! Iv e of Washed C'.othu; la tie.- ce wool, medium. droppin in in Zl cent per pound in K12 to H' tits In 1 .. out Increasing to 2V cents in ImV. itnme Iniieiy folUiwice. the restorntoii of the protective tariff under the S l::e;,-ij.- ir.w. ai;d to .'tl.i cents in the la-m'i'.if -.cl.er. IssH. As si i-inse,.t;er,... f the Increased 1mpo:;atiot ot fireljrn ools. and the m- , nyinn re.luctinn of nearly one-hni. iu prite, ;l;t number and value of slice' on farms wa- r. tttl v reoticed. The number of she-p on larms In l"-:';i was 47.273 -.Vvi. and the'r value Svr..x-'.V-V. Jry Iv; t ic namber had fallen to 3S 2SS.T. an! the value to S."-.17 .7 .IS, the actual va!uh. vim- thus been reduced alwuit one-ha.f. iniMiiini. a loss in sheep alone of nearly X-i "tiii.',n to the firmer, while the annua! loss In his wool clip during that time ve.s cor tvspoi!.itv.rly jit eat. The value of the forelin vveel l"mie-tfj to 1v. had n--t nuCiv a7s retichetl o nuich as S2-. t.:iVtn- but In 1V.C It h i ! exceeded tZto .: In t5 enereded S.i2. '.i.'. and i S7. the last venr (f the existence of the Wiison law. was $."3.:tJ.lSl. while imports ,.r v.,o!e-i sooJs. which in !:42 amountI to X.-.'V. were Pi Ti $.t ik..i. an.' in the lisca! year tST 4H..n..f H. VAI.li: OF OTUKR ANIMALS. !t is not In sheep slone that the vahse of farm animal was aft'ected by the lw tartfT and the depression which c- ' i-mpanied it. The value of various classes of f irm animals are reported by the IS'jvtrtmcnt -f Atsrieulture in e h year from 1S75 to ISeO. Horses on the fauns fed fro-n more than t.ti7.fr..tn n j.muary 1. to $3X.J.iV- in lvK an.i ji'2.oiVii on January 1. 17. a loss of S 5.ie,n ia thts I'tie item during the fve yrats under consideration. In mules li e value fell from i75.'V.i in lSi'2 to S-i.foo.'M in Ps7: swine, from $24t.iW.t t I"y2 tn J!-.i1iiHi in 17. and of ah frnt animals the value fell from 12.l.T.V".t.0 on January 1. 1"42. to Jl.tw.-tH.-ili on Januery 1. lyr. a loss of J-s..341.ctf;. while the figures for January 1. 15h'. show tbt the t wo-biiilon-doilar line has aarain I een crossed by the restoration of values lucompanyi na the liincley protective tariff and the prosperity which It brought t the farmer by lneressed home conSi.tmtuion ss well as increased fcireisrr, trnar'-iet. Tie "American Aisriculturist. " well-known publication, in a reoer.t number, says that the live stock of the funtry in lbii is worth JTtW.'XX .iVk more than it was dttrins the years of depression under the low tariff act. FARM CROPS. Much of the v.-!ue of farm crops Is due t. the home demand, and this home demand is determine.! by the eamtnars srid consentient purchasing power of Individuals and their rarnir.es and purchasing power are in turn dependent upon the prt.siHTity and activity of manufactures and business (teneraliy. Th valns of orri nrnitiiertl n He t'nited States under trie low tariT fell ! tr-im 42.utv.w in 1SS2 to jtisl..v it: Although the quality of the cron in ! was sreater than in ltS!2: hat of w heat from fclS . in 1S?1 to $22C.tiO.Vtt in !! snd C37.rt.'X in lsi. retun;l"S to $-.0ii. In PfiC: oats fell in value fmm S.xi-.rt.oX In to Jl:A2.(X'.fWi in rve. trim tlS.i"XuX in 1S2 to less than J:.0Oe iW in barter, from $45 - in to .OuOeXX in i&x; tobacco.

from 47.rt.0uO in 12 to J7.0u).o.rt iv ! lyr,; cotton, from jKK.Owi.tW in lvS t' i fv.'tV'.wti In !". and potatoes, frnr, i Jiij.V.Mi.euo In 12 to f72.y.o." m lb.. while in all these cases the figures for later yearn show a marked increase j in values over those under the Wiisoti : act. j LOW Kit FREIGHT RAT KB. j One of the important facts t,T interest j to farmer-" is that frelsht rates have fal!-n with greater rapidity than prices ; of farm production. The average rate hy all rail in !k7i) was 33.3 cents per bushel, i and in ;! 11.1 cents a fall of ' 2-2 per j ri'nt, wtdie the rate from Buffalo t New York by canal fell from 11.2 cents f

Our protective system was nevsr in rebelion against the United States ; it has always been for tie Union and ayainst its enerr.lcs whether at home or abroad ; it has always sustained the fhg of the country. Hen. W. McKinley at Wooasocket, Conn,, July 4, 1891. per bushel In HO to 3 cents per bushel In WW, a reduction of 7U per . -it. Freight rates from the Pacilic Coast to New York show a reduction of f p- r rent. Freight rates on live cattle from Chicago to New York fell froin 5 cents tier loo pounds in liCtO to 25 cents in isi.!; hoKS. from 42 cerns to 25 cents; sheep, from 5 cents to 25 cents, ami dressed beef, from M cens to cents. wnibrefrigerator car rates on dressed ho a fell iroin iJ cents In 1SX7 to 4i cents in 1:. Freight rates on wheat from New York to Kurope also show a maraed reiiuctlon. FREE SILVER AND THE FARMER. The Democratic party in li9j made an assuult upon our financial integrity that laid a heavy hand upon the already sorely afflicted farmer. The domestic market for farm crops was Riven a linal blow through the cessation of ail business enterprise and prices of farm products fell to a point where production was not only unprofitable, but at a loss. American history fails to show a more distressing condition of the American farmer than was presented when the Republican party met in convention In June 1. liusiness was paralyzed, labor was Idle, capital retired, farai ARGUMENT. date. It Is an argument against the abandonment of the Itepublican policies which cannot be met. The following table shows the current market price ,f different staple crops on June 1, lsyij. and June 1. lyixe

Aiv'ee June 1. l.sua. Juue 1. 10. oei. i t. liUHb. $o 27U $o 371;, ::T Bush. 7 H44 l;; Biiali. 1TH '-t1 it Hiwb. Xt b.J. lil Kub. 2 i 4.1 2S 40 4:t 'I on 0 25 11 SO 24 Bust). f2 1 SO 1 i l.b. IS 2ti lb. tn4 (is;, 2 Pm lb. 3 2." 5 12'-a 5sloo Hi. 3 . 8 3U 22 loo lb. S 25 4 7a u.l llM lb. 7 ' Tin 1 I.h. T' M 2o I.b. Pi' 2!) 7i 'ion .12 M ISO o. 4.-.4 lb 7 12 72 loo lb. M) 1 2 r loz. 9"i lol s In cane of cotton ami hoog, which

values shrunken and the Sheriff with his foreclosed mortgage sales the oulv acttve man In rural communities. That convention, planting Itself squarely uton the side of national honor, nominated a man whose whole life work was summed up in his trenchant declaration. "Open American mills to American woiivmen." With Mr. Hryan's nomination the Issue was squarelv Joined between free silver and the gold standard, and presented to the American farmer for settlement, one candidate ofterin;--a debased currency, a cheap dollar, the other standing for sound monev. protection to American industries aiid ful. employment for labor at American waes. Thu vote of the treat farming telutes of the West elected McKinlev and the results prove that rural tiros-per.o-followed. WHY THE KAKMER SMILES. FiBtires are proverbially drv, but sometimes they tell a more efoiiuent tale than silver tongues or k,ii1 pens. .lust now they relate an amazinir story of rural prosperity. "Oramte Jtidd Farmer."' an eminent euthority, throuKh its crop reporting bureau, makes a tew figures and is wiMinit thty should speak for themselves. The financial result to the American farmer of his three iirin.ina lereal crops In lsSis and ly9 in thus com parer : lsts. Hll-ahelK. . I.Vi.v 120.000 . 7"-2.1: i.tKMi . !.. OOO Farui price. Vrd-ie. 2 7 $.":.rt. 1 4t I.!"1 2 4-.123.e Cora .. w Heat 20.3 2i.'!. .i4.i $1.14 1S90. Bushels. .2 2e7.47 i.iKKi . ."ee.:t5 l.eml . Mi'.UUM.Mi Farm price. ..-. 4 24. V Hlue. N.4.0O.! 't:i0.1e4.!M'O 21tf.41G,0Ce t orri . . Wlieiit Mats .. $1,215,444,000 For three crops alone he has a nea: little surplus of .447.n. He- has about 4o,wi.ixv bushels more potatoes than he :a sed in Iw and his whole crop is wringing him n to 15 cents ikt bush more. In Illinois and out In K-r w he e broom corn comes from, the honest srnwiT swap:, his ba.e ot o; -sn .or a: equally large bale of greenbacks, a matter of $15o a ton for a crop that a few vears Ho he sold for $4i. and this. too. for a crop he largest for some vears So it runs in butter, cheese, poultrv" hav small grain, ah up in price, with lncreaiiii: production. STOCK IX lSfci AND 19t0. As a concluding argument for tht farmer's consideration we quote agat-. irem "Orange Judo. Farmer." which' his ust completed Its annual live stock census, and takes pleasure in sucmlttitm the result of its investigation because It shows not only further substantial improvement during the past vear but t n KK.re.iie vatua'ion of farm stock ever reported. Not only has The conn try is altogether too busy with active industry ar.d thriving commerce to listen any longer to tie prophet of eri Fresident McKinley at Superior, Wis., Oct. 13, 1S99. awful shrinkage In this form of farm wealth between IS.-12 and been en tirely recovered, but the aggregate now passes any previous record To show the prevlojs high-water mark, the .wwjter mark and the present advanced shore line the accompanvirg table presents in detail the agtrega-e valuaM-vn reported tor c:.ch class of stock on January 1. 19. i9t and 10: lsv;l ,., ss i!:,.ooo sr-io.,-.-; Horses. Mule... ( "ev s . . . i'n'tle. . S'eerj. . Hus. .. . O 1 . ,..( r7 2---7.0-W i-t..;o7on 2..Hi7.&M l.!'42lVio 2,.vis.lli.. vene more argument is net ovd to ft;'. u.ustrate tne present position of t.istock owner. It shows the averagprne per head at the lowest point of thoppression, the present trice and th. ptrctntase of the advance:

2o0 $t7s.;4i rk.

S4. 222.1 t'M.ei.( 3W4.c-7.e-o -o.!l.ve'4. 7iS.S7 oo J2.wc.Kl I27.H-M o-2e-i.4e2.nio 245. 425.1.1. -

Low Jja , Ad i--iOt. p.c , . r e 2; SI IS 14 !" 24 7. i 13 4 2

Horse. January 1. lv?7. . M'tle-s. January 1. I'jrn. January t. K'i ... Ct:ie. J.-uo-srT 1. l.e... s-ia'er'. JiuiUTT 1. .. lie-. January 1. lv7.... Words wi,i not pa.nt the 11! v. wi i they a.l l to the material evie.er. rural prosperity presented above, ange Judd Farmer" congratulate "O American huso mdrr.art up-er his w eI-d. -served prosperity and equally congratulates those who do bus ness with h:m. Generous in his jirospcruy, fc.e wiii aare It wn'j all.

HARRISON'S CLEVtLAND'5 AKlNLFYi ADMINISTRATION ADMINISTRATION ADv I N ISTffATTQNf

I I i I i I i i n I 52.00O j napoo j ' 0,000 t 36.ooo ywr 3Vti 31.956, 31.000 " Q i fi .1 i , J

THE RISE AND FALL OF POVERTY. The firt-t diagram sliciw s the ti;::ri';iatt ntitulxr of atlniissions to Wayfarers' Loilsres by yrars nnl the second the total applications for relief at the district offices of the Philadelphia Society for )ri.'aniziiiir Charity. In both charities the number of pet fus aided grew rapidly duriu' Cleveland's low tariff administration and declined rapidly in President McKiuley's prosperity administration.

MORE AMERICAN SHIPS .NEEDED Expansion Will Increase Opportunities for Trade. Ninety-two Per Cent, of Vessels Now in Export Trade Are of Foreign Register. The tremendous balance of trade in favor of the I'nited States during the administrali Jii of President AlcKinley tilrecta special attention to the neeesslty of buiidina: up an American merchant marine efficient to carry out the goods for which other countries are waiting, and the possibilities for trade with haifcivilized portions of the globe Into which the Americ an soldier and. following him. the American merchant have entered accentuates the importance of early development. At the present time there is paid to foreiirn shipowners the enormous aepreitate of between J!75,iM).ti"i and SL'OM.'ioo.ei0 for carryiiiR S2 per cent, of the nation's imports and exports. Only S per cent, of the foreign carrying trade is In American bottoms. Our foreitin commerce employs nearlv 5,fl.c-H tons ? shipping, about sco.noo tons of whl h is under the American P.att. anil tf this fiveeintns is sailing shipping. Five hundred millions of dollars would be required to replace with American the foreign ships now engaged in our foreign trade. The building of new ships an! the repair ot old ones would involve an annual additional expenditure of $."it,0oi.-

THE BALANCE OF TRADE. An unfailing indication of the prosperity of a country is its balance of trade. As exports exceed imports business flourishes and foreign trade brings gold into the country. A very striking example of the growth of our export trade under protective tariff is found in the fact that the excess of exports over imports in the first three years of President McKinley's term, from March 1, 1897, to March 1, 1900, was nearly four times as much as the entire excess of exports over imports from 1790 to the date of his inauguration, March 4, 1S97.

! , 4 Exports ovjd Wffml if

OYER ! U-- t JT i . && ? :, a Wm e 1897 h rfj ?Mr-.'.i&

000. Three times as much more would be annualiy disbursed by these American shipowners for the maintenance and operation of their vessels. Fully 200.000 additional workmen (supporting a million people) would find employment if we built and operated the ships employed in our foreign commerce. There are several reasons why American owners do not build and operate ships in our foreign trade, namely: 1. It costs 25 per cent, more to build ships in the United States than it does abroad. This Is due to the irregularity and uncertainty of employment, and to the higher wages paid in our shipyards as compared with those abroad. With a steady and permanent demand for ships we should throuyh economies that would be Introduced and efticienev attained soon be able to build as cheaply as abroad, maintaining the American standard of wages. 2. It costs from 30 to 40 per cent, more in wages paid and food provided on American ships than it costs on foreign ships. 3. Foreign governments pay more than $..ooo.0"0 a year in mail subsidies, subventions, construction and navigation bounties, naval reserve retainers and other aids to their merchant ships. Oieat Hritai l paid last year in this way $.".S51.tS7: Oermany paid ll.8H4.ti3i. and has greatly increased the amount this year; France paid 7.32.242: Italy paid $2,185.2tirt: Russia paid $1,S71.1S7; Austria-Hungary paid $1. 724. 249: Spain paid $1,629,927. and Japan paid $.1,492,107. It must be obvious that unaided American ships cannot successfully compete with foreign ships possessing the triple advantages of cheaper construction, cheaper operation and government aids. To mee the necessities of the case the Republican party has persistently striven to secure the passage of a measvre destined to build up American shipping for the foreign trade, and to that end has supported the Payne shipping 1 ill. which embodies the views of the friends of the American merchant marine in 'ongress. and the recommendations of President McKinley and which has the Indorsement of nearly three hundred of the most representative commercial and agricultural associations in the country. This measure is now pending, and the result of the election will

HARRISON'S CLEVtLAKDS KIN-LEY'S APMiNISTCfAT iQM AD'MSTRATiON AP M ISTRATlONf

1890 1891 IS9JL 1893 ISO I2..0OO determine whether it is to become a law or whether the present conditions are to be allowed to continue or possibly grow worse. The Philippines are first in the consideration of an expanded market for American manufacturers. They can. first of all. supply a large part of the $350. 0uo,OuO worth of tropical and subtropical product which this country annually imports, Hawaii and Porto Rico assisting, and they will immediately supply a market ipr from $30,0oi.000 to $5u.ooo,000 annually. The fact that our own exports to the Hawaiian Islands have grown from $5,907,155 in 1S95S to $13,50.14S in 190O Indicates the growth In tne importations which may also be expected in the The American people hold the financial honor of our Government as sacred as our flag, and can be relied upon to guard it with the same sleepless vigilance. Maj. McKinley to the Notification Committee, 1896. Philippines when a permanent and liberal form of government shall have been established there and the consuming power increased through a development of the .producing- and exporting capacity of islands. It Is fair, therefore, to asstt-nie that the market which these islanjls will afford will soon reach $V),tV0,(fc annuallv, and may be doubled as theii producing capacity develops. No least In importance is the fact that jtfcey assure an open door to the commerce of the Orient, the imports of the countries commert tally adjacent to the Islands being about $i.2"i0,l0.0"0 annua Ay. bill was drawn to meet every requirement of the case. Conditional upon the bull ling and putting into operation of new tonnage equal to 25 per cent, of that for which compensation is sought, owners of existing American vessels are lo obtain a contract from the Secretarv of the Treasury entitling them to a fixed amount of compensation ' for ten years, so long as their vessels are, in operation for the foreign trade, and carrying export cargoes equal to one-half their ca

I j I Lc jfej 1 ! j OJ3 i 1 i 1 j 1 ' I I 5aoGo i j i I i ' ; 1 30000 1 1 ! 1 ! ' 1 ! 22000 r 7 zy i ( n zo.oco y J 8,tl ib oco ' 71 IhOOO jc i y i 1 1 , , 1

1895 -896 1897 1693 IS99.

pacity. Such foreign-buitt vessels as were owned by American citizens prior to January 1. li00, are to be granted American registry for ten years and to receive one-half as much compensation as is paid to American vessels, if their owners build and put into operation American tonnage equal to that admilted. American vessels built subsequent January 1, 19"0. are to receive compensation under twenty-year contracts, as are such vessels as w ere, prior to January 1, ISM), being built abroad for American citizens, provided equal tonnage to that so built shall be built in the Fnited States by their owners. The act remains in force for ten years. Payments are not to exceed nine million dollars a year. Should the amount due the vessels exceed nine million dollars then the act provides for prorating the amount to be paid to each vessel so as to keep the payment within the maximum sum provided. This provision places no limit upon the number of vessels thnt may be built In the I'nited States and share in the compensation. It only limits the total sum to be annually paid. Nor does it admit any foreign-built vessel to American registry subsequent to its passage, its purpose is to secure the construction of all the ships uereafter required for our foreign carrying in the I'nited States. The rates of compensation are unuorm for all vessels, sail and steam, under twelve knots speed, and are fixed at l'i cents per gross ton per l'K nautical miles sailed outward and Inward for the first 1500 miles on a foreign voyaze and 1 cent per gross ton per lm nautl -al miles sailed thereafter. For vessels over twelve knots speed extra compensation, based upon extra cost of operation. Is provided. All vessels are to carry the malls free of charge. One-fourth the crews must be American citizens, and for each 1000 gross tons of shipping one American boy Is to be carried and educated in seamanship and navigation. Small bounties are provided for deep-sea fishing vessels and their American crews. The bill provides that the vessels receiving compensation shail be available for charter or purchase by the I'nited States whenever needed, and no such vessel can be sold to foreigners without the consent of the Secretary of the Treasury.

THE TARIFF AND REVENUE

'5finnc Poliof That fho UliUWIVUJ LiVUV.1 1UUI lUv Democrats Would Not Change the Financial Policy. VALDE OF THE GOLD STANDARD How It Has Contributed to the Prosperity of the Country. The Free Circulation of Money. In the discussion of political Issues and the possibilities of a change in administration some lukewarm Kepubllctins :-re occasionally disposed to regard the financial Question as practically settled and that there .s little possibility of the Democratic party being able to make radical changes in the financial po icy of the government. This belief Is fortunately confined to only a few people, but it is a pernicious one and cannot be too soon abandoned. ! The Gold Standard. A writer on this subject, speakinfr of a possible i-hnnge of the jtold standard, says: To Insure the safety of the financial legislation of last Winter Mr. Kry&n must be defeated In November. His election would be an unerring indication that t"he control of the I'nited States Senate would pass into the hands of the foes of sound money on March 4, 1SJ3. half way through a Bryan administration, and it would also Indicate with leSs certainty such a disaster on March 4. l?il. at the beKinninif of the Congress to be chosen this year. Moreover, the election of Mr. I'.ryan would also be the election of a House of Representatives a majority of whose members would tie pledtted to the repeal of the (fold standard act and to the enactment of a free coinaire law. - In view of these facts it must appear You may try the system of protection by any test yon will, I care not what it is, and it meets every emergency, it answers every demand. More than that, it has not been against the Government either in peace or in war. Maj. McKinley at Niles, O., August 22, 1891. to any unprejudiced mind that In case of a Bryan victory this v ar the I'nited States Senate could not be safely depended on to prevent the reversal of the existing financial law before the end of the Bryan administration. And there would. Indeed, be serious danger of such a reversal in the first or second year of that administration. The value of the cold standard to the country is shown in the effects of the new currency law. passed by the two coiiKTesses since McKinley's election. It has done for our currency what the rMnsley act did for our Industries nl comnierce-sriven slabillty, confidence, activity and pnsperlty. Already there, have been nearly applications for permission to establish national hanks with capital of less than "rfi,iliK) each, sliowintr that many communities where no natl mal banks existed will now be driven the advantages of this service, and the increase in national bank currency already amounts to many millions of dollars. Effect of Low Tariff. The same writer, speaking of exports and the tariff, says: The I.-moeptte claim that a protective tariff is disadvantageous to our export trade and that a low tariff would increase our sales abroad is worth examining. This is one of ie standlnK arguments of the tiemocratei when the tariff is considered, that a protective tariff works disadvantageous to our export trade. "If you do not buy of a country you cannot sell to It." is their constant assertion; and hence they artrue that a protective tarifT. which has a tendency to n duce markets, injures our foreian markets. miring; the existence of the Wilson low tariff they pointed with especial pride to the increase in -the exports of manufactures. though they were silent with reference to the reduction of exports in other lines. Durli.tr 'l -v. land's first term although by rc-isuii of Kepuhiiean control In Concress, a low tari'T law could not be ene.cted. exports of agricultural products fell from '-!!). 2tti. S4:t. in 1Vj3. and J.'.S0.172.in to $..M S!S in 16, the first rascal year of his Presidency, while in the rTr--t yenr of his successor President Harrison, they rea'-hed ;2.2).iH and $TSm..:j- 232. droppitte- airnln in Cleveland's second term to .Va.23.f2S In IK and J.V'.fi S7.2"j7 in !W and increasing to fla3.fXf.Snii in th" first fiscal year under President McKinlev. after the repeal of h" VVil.M.in low tariff act. The years lS. lVf and following the repeal of the low tariff act. show- in each case a larsr. Increase over anv year under th? Wilson act. the fiscal year lfio brlnirlnjr the exports of manufactures beyond the WD.i'fcW) line, or more than double the averaee exports of manufactures durimr the existence of the Cleveland low tariff term 1S'J4-197. If oner in Circulation. The close or the fiscal year 1ST9 marked an Important char.ee in the course of the public finances,. The national Treasury had begun at last to feel the Influence of the revival of commerce and the Industrie under the revenue legislation of the Fifty-tilth Congress, and with the lofini? month of th-? last fiscal year the Government's receipts showed a marked tenc-ncy toward Improvement. The wider activities we have been enjoying" have been reflected month by month Protection has ricdicated itself. It cannot be helped by eulogy or httrt by defatraticn ; it has worked i's own demonstration and presents in the sight cf the whole world i3 matchless trophies. Maj. McKinleT at Beatrice, Neb., Angtt 2, 1&92. since the opening of the current fiscal ye-,r l;v In.rea-ir.z receipts both from ctistorns -in'i if;terr;al revenue. Six months of the t urrent fiscal year have i.ow eUps-ed,. ar.d f'r the half year ending Decerno! r Ul. l.v. there was an x -'SB receipts over expenditures argrc-gatir.f.-ST. ...' This absorption of money from an active use in trade and commerce irt- the Treasury, where it couid rve no present useful purpose, was the source of apprehension to the pub;Pr sr-d cf anxiety to the department. To Kt his monty in circulation Secretary ;ei-e ,J-r(i to r.'iv. fc(- the siiikinic fun'!, ary part or a!! of of tboMt 1 - - : of Occ-err.mert VinOs first niturirtr i. e., the Ss of 14 and The 4 of II-7. the t tai outri'.ndlr.e fa-jea of wnicfc stnor.tiwd to 'i-"-.'7.. . 4 ft. The priest wi.ieh th Of.vernrnent would buv these cc-r.'!s were fiset a: the current rratk.t pric of th- day pre"dit.g me s.nr!ojn--emejtr. Tiis TroiKvitkm u kept until I cember 23. but f.r.y Jt;-.3 ).t&'i of the tiond were pre-s.-ntI ' -r s ; ;.. in response to ths Lepirunent's offer, in the purchase of this amount Uae

Ocvernment disbursed $n.Ta.. Thft holder of such bonds were given until Pm-niber 23 last to present them for redemption, offerings to the Treasury ceased substantially about December 5. the price of the bonds having advance-! in the market to a point one and onehalf per cent, nigher than th price oX ftred by th Government. PRODUCTION OF GOLD.

Enormous Increase in the World's Permanent Stock of This Accepted Money Metal. The production of gold increases eacb year and inasmuch as it is not destroyed or consumed, like many other commodities, the additions from the mines annually Increase the world'a stock of the monev metal, excepting the small proportion whtch is used up in the. arts, the proportion thus saved averaging perhaps 2X1 per cent, of the world's product. Keeping; this in mind it will be seen that the result of the last half century of gold production in the total amount mined is m ire than twice aa great aa that in 3o years preceding, and has so enormously .ncreased the world's permanent stock" of this accepted money metal that it semii of itself to offer an important, if not a complete, explanation of the fact that during that half century in which the product has so greatly increased practically all tha nations of tha world have abandoned the double stand- , ard and adopted this rapidly increasing and generally accepted measure of value. The arguments made in l that thera cci.ld be no su.-ticlent addition to the currency of the I'nited States without tha Tree cotnagc of silver, and the assertion . of Mr. Hryan that the Republican party had made no provision for the necessary Call the roll of nations which are fur Protection. At least 430 million people are in favor of protection and 38 million Britons are gainst it; to whom must be added those Americans whose n ambers are not known, who, while living under our flag, seems to follow another. Maj. McKinley at Toledo, O., Feb. 12, 1891. Increase of 142.000,000 of currency per annum which he said Secretary Sherman had asserted would be necessary to correspond with the Increasing population have been more than answered by tha events since that time. When Mr. Bryan was making these airc-rtlons tha amount of gold and gold -certificates in circulation tn the I'nited States waa S41S.44K.24J (July 1. IS. to. and on July 1. lsoo. waa SM5.474. 4V); the otal money In circulation on July 1. l.v5. was $1.50S.725,2uo. and on July 1. Ili0. 2.0S2,42S.4s; and the money in circulation ir capita, July 1. lKk, $21.15; July 1, 126.S0. Thus the per capita of money In circulation in tha I'nited States has increased 25 per cent., the total money in circulation S per cent, and the rold in circulation 63 per cent, sine the supporters of th silver theory were telling the country that the only method of increasing the currency of the country and bringing utout prosperity was by the free and unlimited coinage of sliver at the ratio of Hi to 1. The increase In currency. Instead of being the St2.0tni.0DO for which he said no provision had been made, has been $l25.ou,i"0 per annum, and nearly ail of 1 under the laws which existed at that time.: EXPANSION of Two-rnrDs." Democrats Desired More Slave Territory; Republicans Footholds " ' for Commerce. The Republican view of expansion differs widely from that which controlled the Democrats in their ambitions for adding territory, and especially tropical territory. What they desired, especially in the case of Cuba, was additional slave territory and additional power in Congress through Increased number of slava States. The Republican view of expansion Is to secure footholds by which our commerce will tie protected and extended. The territory which haa come under the Free trrde results in giving our money, our manufactures and our markets to other nations ; protection keeps money, markets and manufactures at home. Maj. McKinley at Beatrice, Neb., August 2, 1892. control of the Government in the Gulf of .Mexico Is of supreme importance iri guarding that approach to the mouth of the Mississippi Klver and a great Isthmian canal, which the Republican party 1 pledged to bring into existence, and a bill for which has already passed tha House of Representatives. The Ha waiian and Samoan Islands are of equal importance in relation to the eommerca of that great Pacific Ocean which is at trading so much attention. The Hawaiian Islands form the only way station and satisfactory harbors in the central Pacific, while the harbor of Tutulla in the Samoan group, which has recently becr.me a part of the United States, IS recognized as the finest In the southern Pacific, and probably the finest In tha entire Pacific Ocean. With these two Islands as way stations for coaling, watering, repairing and receiving telegraphic orders, vessels can satisfactorily engage in eommerca between the I'nited States and the Orient, and by making the Philippine Islands i great entrepot for American products, can comma-id the trade of the Orient as Great Hrltaln commanded it in forroee years, and much more successfully than she doe a now by reason of greater proximity and greater facllftles for producing articles which the pe6ple of that country desire. The countries lying within easy reach of Mar.Ha as a point o distribution China. Japan, Astatic Russia. French Indo-Chlna. Stnra. India and Australasia contain half the population of the earth and have an annual commerce of more than IZ.OuO.OA' 909. Thels purchases alone amount to nearly JX2"J.Ooo.ii annually, or an average of about XlVtvH.Vu per month, and at th present time the tTnlf-d States sup plies nut t per cent, of their purchase. Yet their wants include ail the articles which we have to selL Not only Is this the case, but they are rapidly coming to recognize the fact that uy can obtain more satisfactorily from the Unlte4 States the articln they desire than from any other part of the world. American flour, provisions, tobacco, cotton and cotton goods, and manufactures of all kinds are rapidly making their way Into the Orient and are as rapidly excluding thoss which the Kuropean countries have teets supplying them. Our exports to Japan have increased from tTi.27ii.ad in 1 to 2.07.42 in the fiscal year 1; to China, from t3.254.tM in 18 to tia.25a.74a in 1; to Hongkong, from t34.224 in 1S to ! In to British Australasia, from J7.i76.tJ0 in 13 to 12 .Tzr,,7'K in IfO. and to all Asia, from 12l,534.f7 In to S44.SU.:-' in 1&00: and to all Oceanic, from tlS.-01-021 in to t43.ri.&27 in 1j0. Even with this rate of lncree we are. as already Indicated, supplying but about j per cent, of th total purchases of that enormous population grouped around Manila as an entrepot and point of distribution for our merchants and mania faeturers. To the islands with which we hare come in closer relations during the last two years our experrts show a rapid growth. To Porto Rico the exports of Z-jHO were: S4.64i.43t. against tl.Io5a.S14 In J:!: to Cuba in 1'. $JK.5I3.613. against ITJ&s.eU in IK; to the Hawaiian Iiandl in MM.!, aeainst J4.1M S."l in a.-.d to the Philippine Islands, 12.64-').-44i In I"!, against V.4Y in HPT. an increase of nearly 3 per cent, in the to ta! to th- four island divisions. This opportunity for expansion affects e rr prod -jeer, every individual engaged in any form of agric-ilture. In mining, ia niar.ufacturirg. in transportation, and in commerce. The p-op:e of the Orient demand flcur. meats and dairy products, cctton and cotton goods and all kinda ol manufactured article and in recent years they 1 a ve shown a pref erase) Sac .products ot the United States.

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