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Newspaper
Mitchell Capital
Location
Mitchell, South Dakota, United States of America
Date
Feb 05, 1897
Page
6
A concise history tracing federal tariff acts from 1789 through 1897 and their impact on American industry. The work surveys key measures, political debates, protective aims, and economic effects on varied sectors and regions. It highlights legislation, enforcement, and evolving policy in the early republic.
Washington in 1897 sees Congress about to enact a new tariff law. The piece traces U.S. tariff policy from 1789 through McKinley, contrasting ad valorem and specific duties, noting how protectionist tariffs spurred industry, prosperity, and revenue, while free trade or low tariffs caused distress. It ends with cautious hopes for a Republican tariff and the need for patient, gradual reform.
The piece cites Congress pressing toward encouraging manufactures as essential to economic stability. It notes prior attempts with George Washington’s era and warns of panic, bank failures, falling farm prices, high imports, and scarce currency before the protective tariff era. It points to a debt rise and policy shifts shaping financial health.
The Bryan-Altgeld faction is accused of recruiting from penitentiaries while the piece contrasts two main Democratic camps. It argues Bryan’s speeches and policies are weak, criticizing his silver and bimetallism stance, mob rhetoric, Denver trip, and campaign book.
A Macon Telegraph critique of William Jennings Bryan's Chicago speech and his push to reaffirm the 1896 Democratic platform with free silver. The piece condemns Bryan as egotistical and demagogic, warns of party dependence on his stance, and notes his past shift to Weaver and populism.
The New York Commercial Advertiser notes restraint among petitioners in tariff hearings except Wool Growers, who bear losses from the Wilson tariff. It argues farmers seek moderate protection for wool, acknowledging small savers and criticism from free trade advocates, and anticipates a 24 cent duty on Australian wool being unlikely but a moderate protective duty will likely be included.
The Macon Telegraph notes local bank turmoil receded amid a broader revival in manufacturing. Carpet mills at Yonkers and Lowell and Amsterdam mills restarted, along with India Rubber Works, Standard Cordage, Liberty Cycle, and parts of Westinghouse Air Brake, employing thousands. Smaller firms also resume, signaling rising demand and a potential sustained recovery if policy does not hinder growth. It criticizes antiwar crusaders and calls for stable governance to avoid derailing the upturn.
A sweeping column surveys monetary policy, party splits, and business outlook. It critiques Bryan’s stance on silver, notes tariff impacts, and reports on wages, agriculture, and industrial revival prospects in Bethlehem, York, and national markets. It mentions McKinley’s potential presidency and international trade tensions.
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