Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-01
MONOPOLY INSANITY.

MaOAOA CAaA A-NaaA -NAA
Following the utterances Of CHAUN-
cEY NJ. DEPEw, WASHINGTON E. Cox
NOR and C. C. ScHRNcK, who represent
the intelligence OF the Republican
party in New York, comes another
from leading Republican OF Pennsyl-
vania, JOHN FIELD, one Of the oldest
merchants in Philadelphia. Mr.. FIELD
takes to task his fellow Republicans
who are foolish and unpatriotic enough
TO attempt to make party capital out OF
the present money panic, which is due
20 legislation passed in 1890 by Re-
publican Congress and signed by Re-
I publican President Mr.. FIELD says:
Il regard the man who introduces mere
partisan issues into the present crisis as
little less than traitor to his country.
This language is not whit less true
than strong. The Pittsburg Dispatch,
o believer In high tariff and staunch
Republican, though not Of the organic
/
variety backs up Mr.. FIELD and says
.sthere ought TO be some way Of sup
pressing the brays Of the lOud-mouthed
element which supposss that it is max
I ing capital for the Republican party
outof business disaster while really in
turing the party more than any one
else"
It's money panic, pure and simple,
and not business scare at the threat
| Of Democratic free trade, as the insane
monopoly sharks and political freeboot-
ers are brazenly declaring.
AS the Philadelphia Times says, the
banks are solvent; the people are SOL
vent; the crops are unusually bounti-
full; but gradual departure from a
sound financial policy impaired national
credit abroad, sending our securities
home 20 drain US Of gold, and impaired
public credit logically undermined priv
ate credit until a money panic was pre-
clpltated.
Money is abundant, but with steady
reduction Of values investments stopped,
and with bank and business suspensions
multiplied money was Withdrawn from
business and deposits to hoard in locked
boxes until confidence returns. When
there shall be a restoration Of business
confidence by the restoration Of a sound
financial policy for the nation, com
merce, Industry and trade will resume
their energies and the panic will end.
On one point the desperate advocates
Of monopoly taxes should be better ad-
vised. No amount Of depression in val
ues from a money panic, as our Phila-
delphia contemporary points out can
revise the overwhelming judgment Of
the nation against the MCKINLEY tariff.
Il IS odious as it is oppressive, and it
has largely contributed to the present
business distress by needless taxes on
the necessarles Of business and of life,
and by the overproduction its enormous
taxes for the benefit Of small classes in
spired.
On this distinct issue the policy Of
the Mckinley tariff was rejected bY a
million majority In 1890 and again re-
jected by million and a half majority in
1892. The more than million Of Populist
votes, cast chiefly in Republican States,
proclaimed opposition to the Mckinley
tariff policy as a vital feature Of their
faith, and CLEyELANn's nearly half
million plurality over HARRISON empha-
sized the purpose Of the nation to end
all monopoly taxes Of the masses under
the false pretext Of protection to labor.
The Mckinley tariff policy has been
rejected by the people with earnestuess
and emphasis equal to the ,earnestness
an emphasis OF the national verdict
against slave domination In 1860.
The assumption that the people can
be terrorized TO abandon tariff reform
by PARTISAN bowls Of disappointed
monopoly tax gathers over a money
panic, is simply unmixed insanity.
The absence Of sincerity is conspicuous
BY the refusal to unite 10 a demand for
honest money, without which no fac
tory, mill, mine, field or forest can re-
quit either capital or labor.
The blatant free-trader is to-day not
half 50 dangerous foe Of protected In
dustry as is the monopoly insanity that
welcomes business distress from causes
which are visible and remediable, and
refuses to aid in the logical remedy in
the vain hope Of terrorizlng the nation
from the equal taxation demanded
million tongued by the sovereign power
of the Republic.