The Waikato Times AND THAMES VALLEY GAZETTE. Equal and exact justice to all men. Of whatsoever state or persuasion, religious or political. SATURDAY, NOV. 12, 1892.

Waikato Times, Volume XXXIX, Issue 3181, 12 November 1892, Page 2

The Waikato Times AND THAMES VALLEY GAZETTE. Equal and exact justice to all men. Of whatsoever state or persuasion, religious or political. SATURDAY, NOV. 12, 1892.

-•- It is many years since the election of a President of the United States has excited so much interest throughout the world. This has been so for the reason that the fiscal policy of the great republic has been the question on which by mutual consent, both the great parties sought victory. Mr Harrison claimed the confidence of the people on the strength of the McKinley tariff and protection of the most aggressive, and stringent form. Mr Cleveland, on the other hand, bases his claim on a promise of tariff reform. In his letter accepting nomination, he -wrote ; — " Tariff reform is still our purpose, though we oppose the theory that tariff laws may be passed, having for their object the granting of discriminating and unfair Government aid to private ventures. We wage no exterminating war against any American interests. We believe that a readjustment can be accomplished ia accordance with the principles we profess without disaster or demolition. We believe that the advantages of freer material should be accorded to our manufacturers, and we oontemplate the fair and careful distribution of the necessary tariff burdens rather than the precipitation of free trade. We anticipate with calmness the misrepresentation of our motives and purposes which shall be instigated by that selfishness which seeks to hold, in an unrelenting crasD, its unfair advantage under the "present tariff laws. We rely

upon the intelligence of our fellow conn try men to reject the charge that a party comprising the majo- | rity of our people is planning the destruction or the injury of American interests), and we know that they cannot he frightened by the spectre of impossible free trade." In order that some of the sentences in the above paragraphs nitty be understood it is necessary to point out that the Democratic Convention at Chicago declared in favour of a tariff for revenue only, which of course implied free trade as the term is accepted in the present day. The Republican Press declare this " a challenge to the protected industries to a tight of extermination." This explains the language of Mr Cleveland. Me thought it necessary to make it clear that no sudden and consequently ruinous change of policy was contemplated, and his anxiety in this respect led to his use of the term "impossible free trade." Mr Cleveland alluded to another question which is of very vital importance to these colonies, the construction of the Nicaragua Canal. He said in regard to this : " The importance of the construction of the canal as a means of promoting commerce, and also as a contribution by Americans to enterprises which advance the interests of the world and of civilisation, should commend the project to the Government and secure its approval and endorsement." The Australasian colonies are more interested in this project than in the proposal to give American manufacturers greater facilities to procure raw material, which implies a reduction of duty on Australian wool, which would of course be of great advantage, as without doubt the measure would lead to a large trade with A meriean ports, and save the costs and charges consequent on our wool filtering through the London market. The construction of the Panama Canal, which seems very problematical, or the construction by the Americans of that through Nicaragua would materially lessen our distance by sea from the markets of Europe upon which we must depend for many years to come for the disposal of our surplus products. This was a bold departure on the part of Mr Cleveland as it courted the opposition of the great railway interests which would inevitably suffer to a large extent by the piercing of the continent. The passenger traffic between Europe and the Pacific would inevitably cease as would also the freight between the two coasts of America. The probable election of Mr Cleveland to the Presidency is matter for congratulations to the great body of the American people if during his term of office he mitigates the grinding fiscal tyranny andcr which they suffer, not for the benefit of workmen as has been clearly demonstrated, but in order that capitalists may pile dollar upon dollar till their riches become not only fabulous but also a reproach to the common sense of the people that they should permit such a system to exist. It is not to be wondered at, as we were informed by cable the other day, men situated as is Mr Carnegie should subscribe such a sum as ,£75,000 towards the election expenses of the party pledged to continue to them the monopoly which the existing tariff virtually confers upon them. We have reason to be satisfied ourselves and we offer our hearty congratulations to the American people on the fact, that there is a prospect in the near future that they will be freed from a system which has retarded and is retarding their material progress, great and wonderful though that has been. The United States have attained to their great position not in consequence of protection but in spite of it.