St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-24
BEN IS A PESSIMIST.
The Little EX-Preident Sees
Only Darkness Ahead.
THE NATION MADE A MISTAKE
In Refusing to Re-eleet the
Grumpy Hoosier.
He rs VERY S0RRY, HOWEVER,
That Grover Has Such a Load
to Carry.
THE NATION MADE A MISTAKE
He IS VERY SORRY, HOWEVER,
PROTECTION IS BEKS HOBBY

New YORK, July 23.-The World this
morning prints the following views on
the situation, presented by eX-Presi-
dent Benjamin Harrison:
The Sherman act is not alone re-
sponsible for the prevailing want of
confidence that everybody now expert
ences. The distrust Is not against sill
yer only; it is not against the govern
ment issue Of money; people are not
holding gold throughout the country.
Relatively, gold is circulated as freely
as is silver. People are withdrawing
mOney-gold and paper and silver alike
from the circulating banks and the
savings institutions, and are locking itin
safe deposit banks or hiding it away in
their stockings. They do this not be-
cause they have no confidence in the
government, but because they are fear
full of business calamities. The distrust
is increasing, and the outlook is gloomy.
The Sherman act is not the sole cause
of bad times. That measure has served
Its purpose, it is true, but it is not re-
sponsIble for the depression which
overhangS commerce, trade and agri-
cultare. The political party in power
came in on a statement of its principles
formulated and
Promulgated at Chicago.
where gathering which represented
diversity of political beliefs and preju-
dices gave this statement to the country
as the platform of the Democratic party.
1t was announced to the country that
the existing system of tariff should be
mOLified to the extent of tariff for
revenue only. On this basis the candi-
dates of the party now in power we're
elected. The enormous manufacturing
Interests were, OF course, duly i'm
pressed, and business has been COM
PEELED to suit itself to the condition to
which the Chicago platform must
logically lead. 1t is impossible to
bridge over suddenly the wide chasm
Intervening between comparative
free trade and the protective system,
under which the nation grew rich,
without prolonged cOnYulsiOns in trade.
Great economic changes 40 not adjust
themselves with celebrity; hence, fearing
changes, factories stop, work shops
close, and prices shrink. If the Chicago
enunciation Of principles is to be main
tanned, business must prepare for
change. According to its principles,
the government is
Pledged TO Reduce the Tariff
to the standard of the Chicago conven-
lion. The business of the country can
not prosper under these circumstances.
Distrust is widespread; everything
ianguiShes. The heterogeneous politi-
cal elements that will meet in Washing
ion will represent free trade and many
theories contrary TO business stability.
The conservative people of the country
stand aghaSt at the possibilities
of legislation and are trimming sails to
suit the weather. The outlook is dark,
but it is difficult to see how relief is to
come. The distrust might be dispelled
perhaps, but how? In one sense the
situation is theatrical Excitement
may be calmed by stroke of inspira-
ton. A panic is sometimes averted by
band striking up popular air, just as
the frightened crowd are about to rush
and trample over one another. How
can the present somewhat analogous
condition be changed by suddenly in
spired confidence? The leaders of the
party in power will scarcely acknowl-
edge that its principles are mistaken
ones, that the Chicago platform was
false aud should be repudiated. [ can
see no Moses at present who will lead
the business world out Of its Egyptian
darkness"
Gen. Harrison sympathizes personally
with President Cleveland, who is carry
ing, he thinks, about as heavy burden
as mortal man can bear up under.