The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-12-23
The Republican Party and the
Condition OF The Country.

lains the following editorial paragraph
"pnring the late election campaign the
Republican papers were continually
hnrnlny upon the improvement IN trade.
How isitnow? Thcytcll quite different
tale. Commercially and financially, tho
country was never in 80 sad n condition.
New York papers tell us that the dcprcC'
citation OF property in tho metropolis Is
truly frightiuI. Thousands are becoming
bankrupt. Perhaps our astute ncigIIbor
over the way, or his next best friend, the
editor Of the Wheeling lNTElLiG ENcER,
can explain the why and wherefore oil
this unparalleled state Of things"
The above is in the true al captandum
style Of tho average Democratic news
paper. The idea is 10 impress public
opinion with the belief that the country
is going from bad to worse under Rcpub.
lican rule. Most people do not look at
the facts. They do not keep the run OF
tho business Of the country before them,
and therefore do not know its actual con.
dition.
Gold is q good barometer as to the
condition OF the country. II is down this
morning to 1911. What does this meant
1t means that the foreign business Of the
country is in a heaithful condition. It
means that We are exporting moro
than we are importing. II means
that the foreign business Of the country
is rich in cxportabIe material, such as
cotton, tobacco, breadstufls, petroleumpetc.
and that we arc chipping ii in such largo
quantities that the interest on all We owe
in Europe and the payments for all we
are importing are more than cancelled,
and that there remains beside large ba.
lance in our favor. ,a
Specie is coming TO this country SO
freely that the New York banks noY=hold
s27,OOO,OOO, having increased their sup.
ply sll 100000 in the last seven weeks.
Does this look like the country was sink
ing under Republican rule?
Weare passing through the last stage Of
the panic. This Is what is the matter
with the country. We are rubbing on
tho hard rock bottom Of prices. Such
rubbing always hurts, But it ia the
stage Of the disease which always pre-.
cedes restoration to health and better
times.
We wish VIC could get The Democratic
newspapers to commit Thurmnn's re-
marks on the panic, delivered in the U.
s. Senate in January, 1875, TO mem.
DRY. We have reproduced them two or
three times. After asking the question,
"IYhen giR blsines, rerirc" he proceeded,
OH tho occasion referred to, 10 answer it
AZ follows: ts.
All that is necessary is for man TO
open his eyes and read the history Of this
country to know when twill revive. Al
intervals Of about twenty years We have
one Of those things called panic, fol-
lowed By q stagnntion in business, the
result of over.trading, ovcr-production,
of extravaganza OF all sorts and descrip-
Acknowledgements in individuals; ex-
travagancc in corporations, extravaganza
in governments large and small; unit! at
last the bubble bursts, and then comes a
season OF retrcnChmcnt and economy.
And how long does that last? How long
il il before debts are Iiquilated md u
surplus is accumulated, 10 that there bC-
gins to he an upward tide in the business
Of the country? Ntuer has il been les
than four yeas in The Uaitta States.
zone Of the FIRST things that can recoI.
Iect when | was very small boy, not
higher than this. desk, was thc'conditiOn
II monetary affairs in 1919. How long
did that stagnation last? 1t lasted until
1928. Then business began TO revive
throughout the country, and a period OF
great prosperity followed. Then came the
panic md suspension OF 1887, and the
great stagnatiOn in business that fol-
lowedg How ling did that last before
business revived and tho country began
to be prosperous again! Five years.
Then came 1851, at an interval oil twenty
years, and business had not revived when
tho war broke ont and changed the whole
face OF affairs. .tad now comes the stag.
nation Of 1878, and nothing but time,
economy, honesty and rctrenGhment will
liquidate indebtedness and accumulate n
surplus which will set business in motion
again and make the country prosper once
more"