Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1876-02-02

The following communication to an
exchange paper, without the name of
the author, presents the dates of the
different pauics in this country and the
party administrations under which they
took place, with the admirable and logi-
cal conclusion that if the Democratic
party propose to hold the Republican
party responsible for the present busi-
ness depression, they preve themselves
to 5ave been the great curse of the coun-
.ry, inasmuch rs niI E. tentbs of all the
past panics took place under Demo-
cratic rule, aud the first causes of the
last panic, and the present business de-
preston, originated IN the Democratic
party. Read carefully what he says,
clip the article, put it away for future
reference, for the dates are all correctly
gwen
Dnring the past year, while there
has been so much suffering from the ef-
fects of the panic which is now pros
trating our country, We have heard
many charge it to the political party
now il power, and the blatant pollti-
clans, who are cndeavoring to organize
neS party, attribute it 10 the Repub-
lican party. You will confer favor
by inserting in your valuable paper the
following highly interesting review Of
the panies that have taken place in this
country. from data furnished in Sum-
ner's sHistory of the American Cur
rency," from which We take the promi-
nent facts. Ths conclusion is, that
something of rule governs these re-
vulsions, and that the average time for
a recovery from their effects is eighteen
months to two years; that 1t is evl-
dent that the period of commercial
stagnation following the panic of 1873
has run its full length, and tie recov-
cry canuot be long deferred. Another
feature of the analogy is, that the con-
ing years will be unusually prosperous.
There seems no doubt to US that We are
now entering upon that era.
The historical facts are as follows:
In 1919 panic caused by the iDfa.
ton of the currency during and sue
ceediug the war of 1872 prostrated the
business of the country.
At this period James Madison, a
Democrat, was President Of the United
States, his term commencing in 1903
and continuing until 1917. He was
succeeded by James Monroe, also a
Democrat, whose term lasted eigh,
years During the panic William Fin.
div, Democrat, was Governor of thi:
State from 1918 to 1920.
In the then small city of Philadel
phia 20 900 persons thronged the street:
seeking employment. Thirty trades oi
that city which usually employed 9,672
persons, reduced their force to 1900
and the same ratio prevailed in New
York, Baltimore and Boston. The de.
preston lasted through 1919 and 1920
About June, 1921, a revival of busi-
ness seemed evident BY October there
was an unmistakable movement in thai
direction, which continued until De.
cember, 1922, when relapse tool
place, reducing prices sharply-cottor
goods as much as so per cent. From
this, however, there was rapid recov.
cry, and in 1924 the prosperity of the
country was very marked. In 1926
there was another panic, caused BY the
state of affairs in England, and firms
went down like card houses.
At this period John q. Adams, q
Federal. was President, and John A.
Shul,z, Democrat, was Governor OF
Pennsylvania.
The panic of 1925 eliminated in
December, the depression lasting
through the year 1896. In 1927 the
country was again prosperous and bu.
siness Increased, with but little inter-
ruption until the greatest crisis this
country has ever known was precipita-
ted upon it in the beginning of the
year 1887. The brunt of the crash
occurred in New York ih March, and
in April the whole couutry suecumbed.
The depression continued throughout
1887.
Martin Van Buren,, Democrat, was
President, and his famous Sub-Treasu-
ry scheme, favorite Democratic meas
ure, with its Swartwouts as plunderers,
and misapplying of official funds, was
10 appreciation at that time. Joseph
Ritner, an Anti Mason, was Governor.
While Martin Van Buren was yet in
power and David Il. Porter Governor
in the year 1889, there was brought
about crash in our defective banking
system whick wiped out of existence
343 of the $50 banks then in existence.
This crippled the industrial interests Of
the country somewhat, but the next
two years were comparatively prosper
Gus.
In the year 1913 John Tyler, ren
egade Whig, WIS President. and David
p,rter Democrat Governor That