The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1890-12-04

purposes of its leaders have already had
a serious effect upon business confidence
and hopes. There was sudden slump
in the prices of all. stocks in Wall street,
New York, and several heavy failures
are reported. The business world was
deeply agitated and frightened for awhile
fearing panic, but it is now believed
that the crisis is past and disaster post
poned. The trouble is. that confidence
in the future is seriously impaired. Cap
ital is very sensitive and timid and re-
fuses to embark in new investments
when reckless men are at the helm. rThe
sudden success of the leaders, who in the
past have advocated rag money, repudia-
ton free silver dishonest dollars and free
trade, has alarmed sagacious business
men and progressive capitalists, and
there is a manifest arrest of business en-
terprises. Uncertainty and fear have
taken the place of confidence and hope,
and capital shrinks back into her strong
box to await events. From all sections
come reports of suspended engagements
of manufacturing plants, of rescindod
contracts for new mills and the abandon
ment of vast enterprises involving mil
lions of dollars. The effect of the VIC
tory has reached Europe and has COM
PEELED foreign capitalists to abandon
their contemplated Investments in Amer
lean industries. The fall of princes in
Wall street was the result, to large e1-
tent, of fear and distrust of the Demo
cratic leaders. The abandonment of new
business enterprises by capitalists is the
result of the same distrust. The Demo-
cratic victory has unsettled everything
and everybody is taking in sail and pre-
pairing for possible change and disss SER.
There is sudden chill and check upon
the plans and energies of the business
world. It.was supposed that the Nc
Kinley bill was to have fair trial and
test. With this confident expectation
the industrial forces of the country re-
sponded in wonderful way, with prof
fers of capital for enlargements and new
mills for the manufacture of linen, ging-
ham, tin plate and other fabrics. In all
our industrial experience, we have never
witnessed such signs and promises of
rapid development and prosperity as
those that followed the passage Of the
Mckinley bill. The prospect was bright
for an increased demand for labor at
higher wages in all, the manufacturing
States. But all these promises and hopes
have disappeared with the free trade vic
tory. There is to be no rest, no peace,
no certainty from now on through a
stormy presidential contest with possi-
bility of more complete victory in 1892.
No wonder cautious, business men are
preparing for a-cOming storm and over
turn in characterization The leaders
who now control the Democratic party
are committed and pledged to ultimate
| free trade. The mask and disguise of
tariff reform deceives no intelligent
man. They Use the arguments of free
trade, they assail protection in principle,
as unjust favoritism' of the rich at the
sacrifice of the people, they are for
free materials in order to remove the
tariff on the finished products of the fur
naces and the factories. Their purpose
and plan is the enactment of revenue
tariff which is practical free trade.
Such policy would closei'our wooden,
cotton, silk and steel mills, except the
wages of labor were reduced to the Euro
pean grade. OF all the States in'tthe
Union, industrial Massachusetts would
suffer the most from such a policy; of
all the counties in the State, Berkshire
county would suffer the most; of all the
towns in the county, North Adams and
her working men would suffer the most,
and yet the workingmen have given their
votes to elect free trade Democrats to
Congress to work, inialliance WITH ssthe
agents of England, for the overthrow Of
our protective policy. Earl Salisbury, the
Tory leader of England, exults over the
Democratic victory as free trade VIC
tory" as an English victory. He sees in
it the opening of American markets, the
increased importation of English goods,
the revival of British trade and COM
merce. But thoughtful American busi-
ness men see diminished American pro-
duction, the stoppage of factories and
furnaces, the lessened demand for labor,
the reduction of wages in every branch
, of industry. And yet large proportion
! of wOrklngmen have voted for this free
( trade and English victory. That Demo-
cratic victory is blow against the in
| dustrial progress of America. against
| present prosperity and security, against
: the employment and wages of American
labor. ii is victory over which every
: nation in Europe is wildly rejoicing be.
a cause they believe that it will destroy our
l.. tariff system. establish free trade and
S give them the monopoly of our markets.
!, If the people of America were suffering
n in their homes; if they were threatened
: with loss, or sacrifice, or failure: if they
S were oppressed by over-taxation and off
e cial extOrtiOn and corruption, their re
a volt would be logical and justified. Bu
T. the country was never so prosperous, We
: have an overtlowing treasury, an unsur
e passed National credit, unparalleled sue
n cess in all the lines of business; tn,
e wages of labor are the highest paid il
is the world; we have the lowest price,
Ie ever known for all we eat, wear or buy
+ and all this was achieved under til,
t. operation, for 30 years, of protective
c. tariff, Our advancement and prosperity
$. are the wonder and marvel of the earth
t. Why should intelligent, patriotic me-
a shut their eyes to these blessings an,
As hopes, and by their indifference allo1
IS the enemies of this policy to capture tn
er government and inaugurate a crusad
o. for its Overthrow?-TrdnScript