The Republican., 1893-08-03
get into power.
REPUBLICAN PREDICTIONS Full
FILLED.

'Ihe lssne was squarelY met
The Republican party in its plat
form committed itself to protection,
and during the campaign its press
and speakers predicted that if the
Democratic party succeeded, with
their purpose and pledge to destroy
protection, just the present state OF
affairs would come about. 1t was
stated on the stump, and by the
Republican press everywhere, that
the result of Democratic success
would be generally paralysis in busi-
ness, the closing of mills, the shut
ting up of factories, distrust and
Want of confidence throughout the
country. The reasons urged then
for the soundness of the position
of the Republican party are good
now. Republicans believed that
the destruction of the industrial
system which began with Washing
ton and has continued every since
would be fraught with disaster and
ruin.
In my judgment the present
troubles result largely from the fact
that the people after the election
believed, and had right to believe,
that American industry was doomed
to destruction, that the industfsgs
policy under which we have so
much prospered was to be set aside
and some untried system take it's
place. This led every manufac-
turer, mill owner and business man
to adopt cautious and conserya-
tive course, policy of contraction,
to refuse to build additional plants
or to add to their manufacturing
establishments, the result of which
helped to bring about the present
depression"
"Then you think the position Of
the Democratic party on the tariff
is responsible for the present troub-
les?"
THE DEMOCRATIC PARTY RESPONSE
BILE.
"Before the election this coun-
try was enjoying greater degree
of prosperity than was ever before
known in our history. What rea-
son has there been for this great
chabge from the highest state Of
prosperity, general credit and con-
fidence to the present depression,
distrust and paralysis of business?
Wheat is selling lower than ever
before known. There has been no
failure in crops; no great disaster
has overtaken the country. Prac-
tically there is about as much money
in this country as there was eigh-
teen months ago, but now everv-
thing is changed. The Democratic
party said the Mckinley tariff was
a Chinese wall; notwithstanding
this wall our country has bought
more goods than 1t has sold. QAmz
ocrats predicted that the effect of
the Mckinley bill would be to stop
commerce. In the presence Of
these facts, and the depression in
business. the President and his
party stand dismayed, and we do
not hear word about protection,
the high tariff, or the tax-rdden or
tax-burdened people. Neither the
President nor any other Democrat
in the country has attempted to ex-
plain why the balance of trade un-
der the Mckinley act has SO sud
denly gone against us. To account
for our distress and trouble the
Democrats seized upon the silver
bill and have made it do duty ever
since."
"How is relief to come from the
present situation?'
The blight of suspense is rest
ing over the business interests of
the country. This will continue in
a greater or less degree until the
people know what the Democratic
Congress Is going to do about the
tariff. Everything is uncertain and
unsettled. We know what the
Democratic party is pledged to do;
what it produces to substitute for
what it promises TO destroy cannot
be told before Congressional action.
If the people knew they were to
have free trade, or moderate tar
if, or tariff for revenue only,
they would soon adjust their affairs
to any one of these conditions and
business would go on; but ROW there
is no system to which the business
interests of the country can sbesad-
justed. This leads to the suspense
and uncertainty which prevail.
THE DEMOCRATIC PANIC OF 1898.
Then you think the trouble in
the country and the present dis
tarbances are rather due to the
Democratic success in November
Il do. This will be set down as
the Democratic panic Of 1893.
brought about by apprehension and