Capital was freely invested and labor employed at the highest wages. The gold reserve occasioned no uneasiness and required no thought. Instead of acting as an alarmist it steadily grew, acting as a balance wheel to an ever-increasing confidence. The surplus was employed in paying off the national debt; and during President Harrison's administration our national indebtedness was reduced almost as much as it has been increased by the present administration. What has happened during the last three and a half years of grace? THE ALLURING AND MUSICAL HUM OF INDUSTRY IS NO LONGER HEARD IN THE LAND OF FREEDOM. THE PENDULUM OF TIME HAS SWUNG BACK AND REVEALED TO THE AMERICAN PEOPLE THE GHASTLY SKELETON OF WANT AND FORCED IDLENESS CONCEALED IN THE FREE TRADE CLOSET. Our great commercial institutions have fallen into a most deplorable and unhappy state, misery and want, with pinched and sorrowful countenances are walking hand in hand up and down by deserted workshops. The honest face of toil blushes as hunger drives him to eat the bread of charity. The stilled wheels of industry throughout our land, and deserted and idle farms are indeed eloquent in their silence in behalf of a protective tariff. (Applause.) Capital that was formerly employed in manufacturing enterprises has been withdrawn, while the balance of trade with other nations is frightfully against us. ENGLAND HAS BEEN SERVED. IF ENGLAND HAD HAD A POLITICAL PARTY MANUFACTURED TO ORDER BY THE MOST SKILLED ARTISANS OF THE EARTH, SHE COULD NOT HAVE HAD ONE MADE THAT WOULD MORE FAITHFULLY SERVE HER COMMERCIAL PURPOSES THAN HAS THE PRESENT ADMINISTRATION.