consuls and the protection of their interests. It was through the influence of the United States that communication was first opened with the besieged legations, and it was largely through the same. influence that a disposition shown by other Powers to obtain indemnity by the acquisition of Chinese territory received its first check, and the dismemberment of the Chinese Empire was for the time at least prevented. In financial and industrial results the achievements of the first McKinley Administration were most marked. The Currency Bill, passed at the first regular session of the Fifty-fifth Congress, settles a number of questions which have been agitating the public for some It establishes, by definite statute, the gold standard in financial transactions. By forbidding the reissue of greenbacks once redeemed, it stops the "endless chain" method of drawing gold from the Treasury. By authorizing National banks to issue currency up to the face value of bonds deposited, and by reducing from $50,000 to $25,000, the capital necessary for establishing such banks, it opens the way for an increase of currency when needed, and for furnishing banking facilities to the smaller towns. By fixing the denominations of silver certificates at $10 and below, and of United States notes at $10 and above, it gives a larger circulation to the former, at the same time that it provides for the gradual retirement of the Treasury notes. It provides for the refunding of the National debt in bonds drawing only two per cent. interest. This is a lower rate of interest than that paid by any other Government, and when it was proposed predictions were abundant that the bonds could not be floated. Yet within three months of the time the Currency Bill passed, $300,000,000 of the two per cents had been taken. They were then quoted at 1.06 while British 23 per cent. bonds were selling at .98. When President McKinley called the extra session of Congress in March, 1897, he urged that ample revenues be provided; that "duties should be so levied as to preserve the home market so far as possible to our own producers; to revive and increase manufactures; to relieve and encourage agriculture; to increase our domestic and foreign commerce; to aid and develop mining and building; and to render to labor in every field of useful occupation the liberal wages and adequate rewards to which skill and industry are justly entitled." A great mass of figures might be given to show that all these results have been achieved, But a few will suffice. During the thirty-five months the Wilson Tariff was in operation there was a total deficit of more than $108,000,000 in the public revenues. In the first thirty-two months of the operation of the Dingley tariff the surplus revenues, eliminating war receipts and expenditures, and the amounts derived from the Pacific Railroad settlements, exceeded $45,000,000. The story of improved trade and industry is succinctly told by the following table of exports and imports for the fiscal year ending June 30, 1896, under the Wilson tariff and a Democratic Administration, as compared with those of the year ending June 30, 1900, under the Dingley tariff and a Republican Administration: 1900. 209,368,717 302,264,106 Articles of food and animals.... $237,025,045 ..... IMPORTS. 1896. 94,733,719 88,433,549 145,274,039 128,885,697 Articles of voluntary use, luxu- 93,323,154 111,652,220 The benefit of the change to manufacturers is shown in the fact that in spite of enormously increased consumption the imports of manufactured goods ready for final use diminished, while the imports of crude materials to be used in manufactures increased about $93,000,000. American labor received the benefit of wages paid for working up these crude materials. The exports of manufactured articles in four years increased $203,713,188, or almost 90 per cent. XXXVIII. TWELFTH REPUBLICAN CONVENTION. A Large and Harmonious Gathering at Philadelphia-Members Present Who Were Delegates to the First Republican Convention in the Same City-Admirable Presentation of Campaign Issues by the Chairman-A Strong Platform Adopted-President McKinley Unanimously Renominated-Large Number of Persons Mentioned for the Vice-Presidency-The Nomination Finally Thrust Upon an Unwilling Candidate. The preliminaries to the Twelfth Republican National Convention lacked the interest that attends a contest between a number of aspirants for the chief honors of the Nation. From the time the call was issued till the last Territory had named its delegates no other name was mentioned for the Presidency except that of William McKinley. There was a mild preliminary skirmish over the nomination for the Vice-Presidency, but even that was settled before the time came for making the nomination. The number of contesting delegations was unusually small and those were settled by the Committee on Credentials. There was only one thing during the whole proceedings that threatened any acrimonious debate. That was the oid, old proposition to change the representation in future National Conventions, so as to put it on the basis of Republican votes cast instead of on population. The Southern delegates were prepared to oppose this, but it was withdrawn without giving opportunity for discussion. So it turned out that in this Convention of more than 900 delegates there was not a division nor a roll call on any disputed question, nor an occasion for any parliamentary tangle. No one objected to the temporary organization nor to the permanent organization, nor to the report of the Committee on Rules, nor to that of the Committee on Platform, nor to the nomination for President, nor to that of Vice-President. It was the first time in the history of parties that candidates for both these high offices have been nominated by unanimous vote on the first ballot There were none of the frenzied demonstrations of applause, lasting ten or fifteen minutes that have sometimes occurred when a close contest between candidates has wrought a Convention up to a high pitch of excitement; but there was still abundant enthusiasm and supreme confidence in the result of the coming contest. The business sessions were held at Convention Hall, Philadelphia, commencing Tuesday, June 19. They were preceded, the evening before, by a parade that has never been equaled by any affair of the kind in any gathering of any party. About 30,000 men marched in line, making five miles of party enthusiasm, and it was viewed by 300,000 spectators, who yelled themselves hoarse in the glare of red light and to the accompaniment of patriotic airs. The marching army represented the supporters of McKinley Republicanism, from the bluffs of Maine to the shores of California. Prominent in the ranks were the Young Men's Blaine Club of Cincinnati, the Cook County Marching Club of Chicago, the First Regiment Band of Cincinnati, the Pioneer Corps of Westchester, Pa., and the Cook Fife and Drum Band of Denver. Senators Hanna, Platt and Quay, Governor Roosevelt, Lieutenant-Governor Woodruff and other prominent party leaders reviewed the trudging thousands and waved their handkerchiefs until they were tired. As the assemblage gathered on Tuesday, there were occupying prominent seats upon the platform four men who were delegates to the first Convention of the party held in Philadelphia, June 17, 1856. All were members of the regular Ohio delegation. Three of them were prominent in the Anti-Slavery fight that led to the Convention held in Pittsburg, February 22, 1856, which was the precursor of the Philadelphia gathering and these men therefore claim to be among those who were chiefly instrumental in forming the Republican party. The three men who were first at Pittsburg and later at Philadelphia were Judge Rush R. Sloane, Sandusky, O.; General R. Brinkerhoff, Mansfield, O.; and Hon. George R. Trey, Springfield, O. Judge W. H. Upson, of Akron, O., was at the Philadelphia Convention, but not at that in Pittsburg. Among the distinguished members of the party whose entrance was greeted with demonstrations of applause, were Cornelius N Bliss, of New York, who had been urged to go on the ticket as Vice President, but who had absolutely refused the use of his name; Governor Theodore Roosevelt, of New York, who had, up to that time, put the same honor from him; Senator Wolcott, of Colorado. who had free silver leanings in 1894 and 1896, but who stayed with the party, in which he was again in full fellowship; Senator J. B. Foraker, of Ohio; Henry Cabot Lodge, of Massachusetts; Cushman K. Davis, of Minnesota; Chauncey M. Depew, of New York; Senator Fairbanks, of Indiana, who was also a Vice Presidential possibility, and not by any means the least observed, Senator Mark Hanna of Ohio. Mr. Hanna, as chairman of the National Committee, called the Convention to order, paid a graceful tribute to the City of Philadelphia in which it was held, predicted success in the coming campaign and expressed his gratitude for the loyal and efficient service which the National Committee rendered during the campaign four years previous. He then introduced Senator Wolcott, of Colorado, as Temporary Chairman. Mr. Wolcott's address was an admirable presentation of the issues of the coming campaign. He referred to the destructive effects of four years of Democratic misrule upon the industries and credit of the country, and continued: Facing these difficulties, the President immediately upon his inauguration convened Congress in extra session, and in a message of force and lucidity summarized the legislation essential to our National prosperity. The industrial history of the United States for the past four years is the tribute to the wisdom of his judgment. It is quickly epitomized. The tariff measure under which we are now conducting business was preceded by an unusual volume of impor tations based upon common knowledge that certain duties were to be raised; the bill met the popular demand that duties on many of the necessaries of life should be lowered and not raised; advances in invention and new trade conditions made it unnecessary and unwise to revert to the higher tariff provisions of the law of 1890; the increases in the revenue provisions were slight. Yet, notwithstanding all these facts, tending to reduce income, the revenues from the Dingley bill marched steadily upwards, until soon our normal income exceeded our normal expenditure, and we passed from a condition of threatened insolvency to one of national solvency. This tells but a small fraction of the story. Under the wise provisions of our tariff laws and the encouragement afforded to cap ital by a renewal of public confidence, trade commenced to revive. The looms were no longer silent and the mills deserted; railway earnings increased, merchants and banks resumed business, labor found employment at fair wages, our exports increased, and the sunshine of hope again illumined the land. The figures that illustrate the growing prosperity of the four years of Republican administration well might stagger belief. There isn't an idle mill in the country |