[125]

Tariffs

"When we consider that the theory of our institutions guarantees to every citizen the full enjoyment of all the fruits of his industry and enterprise, with only such deduction as may be his share toward the careful and economical maintenance of the Government which protects him, it is plain that the exaction of more than this is indefensible extortion and a culpable betrayal of American fairness and justice ... The public Treasury, which should only exist as a conduit conveying the people's tribute to its legitimate objects of expenditure, becomes a hoarding place for money needlessly withdrawn from trade and the people's use, thus crippling our national energies, suspending our country's development, preventing investment in productive enterprise, threatening financial disturbance, and inviting schemes of public plunder."Cleveland's third annual message to Congress,December 6, 1887.[126]

Another contentious financial issue at the time was the protective tariff. These tariffs had been implemented as a temporary measure during the civil war to protect American industrial interests but remained in place after the war.