Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1885-10-09
THEIR EXPLA M TIONS OF THE
HARD TIMES.

THEIR EXPLANA TIONS OF THE
HARD TINES.
In our columns in the last few weeks
we have given from Republican speakers
in this vlcinags several explanations Of
the cause of the hard times now prevail
ing. Attorney General Blair started with
the novel and ignorant proposition that
the hard times in Virginia were caused by
the Democracy paying off the debt under
the Rddleberger settlement at the rate of
800 600 o month. Ex-Auditor Brown
Allen who knows nothing about the sub
iect, merely covered the ground by saying
the hard times were due to the Democracy.
-Congressmau-at -large John s. Wise
said it was CAUSED by the Ma
tional Administration, which instead
of calling in One Hundred and
Twenty-three Millions of the public
debt and putting that much money out
among the people, insisted on keeping up
a reserve of Four Hundred and Ninety
two Millions in the TreasGry-ten more
millions than the Republicans kept. MIR.
Jacob Yost said the hard times were
caused by the apprehension of the capital
lists of the country as to what the Democ-
racy might do.
We submit few facts in reply to these
gentlemen, facts which can easily be es-
tablished by the record. Passing by the
truths that the great panic of 1873 took
place under high-tide Republican rule; that
the failures in 1883 were larger under Re-
publican rule than they have been for the
same period in 1885 under Democratic rule
and that more suspended factories have
resumed work in 1855 than in 1S04-Which
to the Republican canvassers are insur-
mountable facts, We go to the commence
ment Of the present depression. The down.
ward move in that great American Their
mometer Of finance and trade, Wall street,
commented on the day after President
Garfield was shot, and has been steady in
its COURSE ever since, with some times q
three or four days revival and sometimes,
as when Grant Is Ward failed. week of
unusual depression. But It's decline has
been slow, steady and sure, until within
the last few months. Congress has bad
Labor Investigating Committees, Europe
has had International Trade Inye5tig eating
Committees. The great commercial
interests Of Europe have had famous ex-
perts studying the phenomenal depression
which in extent and duration has not been
paralleled. All without avail.
When this depression commenced four
years ago there was no apprehension about
what the Democracy might dc. for Gar
field bad just commenced bis teEm,
Cleveland was town Mayor in the in
serior of New York, and the SUCCESS Of
his party within the next twenty years
was an idea which the Republicans ridi-
cuied. When that depression commenced,
the reserve kept in the Treasury by a
Republican Administration was just as
large as that kept by Cleveland's Admin
istratlon to-day. During its existence
along through 'S1, 'S2 and '83. all possible
calling in Of the debt was made by the
Republican administration, but With no
relief to tie stagnation of trade which is
net confined to the United States, but
covers the civilized world. When this
depression commenced. the Democracy OF
Virginia had not begun to pay off the
Ridd!eberger debt, the Riddlebsrger bill
had not been passed, the Republican party
had just gotten into full power in Vir-
ginia. and there seemed little prospect of
the Democracy soon unhorsing them.
There can be no new apprehen sion on the
part of the capitalists of the country about
Cleveland's financial policy, for 10 his
letter on the silver question and in the
transactions of his Treasury Department
with the New York banks, he has opposed
his own party and adopted the policy
most cherished by the capitalists Of the
country.
Of the Republican speakers VS. have
named, all were too cautious to suggest
remedy for the hard times. except Mr..
Wise. notwithstanding the fact that the
wisest heads OF thu ciylliz ID world. the
representatives of ths greatest business
interests of ciyiliz alton have been giyiag
profound study to that question for three
years past without discovering a remedy.
this volatile statesman losses off pre-
scription with the leyi5y of a street patent
medicine vendor, and assures his audi
eace that it is all right. Not discouraged
by Einarcier Blair's announcement that
Vifsiaias buying in her bonds is making
the hard times in this old Commonwealth,
Mr.. Wise wants the United States to Call
ia some millions of bonds and thus put
the money out among the people, He