The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1893-08-03

party came into power last fall. 1t would
prove a second Bennett law in effect as (
ia lack OF reason. Just as the democratic
party Of Wisconsin made use of the Ben
nett law TO secure power, SO now does the
party make use of the dis
tress Of the country to change political
sentiment. just as the Bennett law In
its purpose and operation was for the
public good, so are the difficulties under
which we are now laborlng nothing more
than an effort of the business interests of
tie country to purify It's system OF bad
humors which needed bat an exciting
cause to manifest themselves The seeds of
commercial disease were sown long ago.
Had the disease which was 10 our system
manifested lself earlier, recovery would
be much quicker than it will be under the
present circumstances. No such condI-
ton of prostration AS that under which
We arc now suffering could come except |
from years of disregard OF the laws OF
commercial health. A man will recover
quickly from the effects OF a nights ca
rouse; his system will not respond so
quickly to the adoption OF healthy |
regimen after years OF dissipation. 1t
takes time and weakness must ensue be- |
fore good health is restored. There is
deceptive form of health to which many
people would gladly return when expert
encing the weakness which marks the
change to a more correct habit OF living
and more rigid observance of the laws
of health. There is demand now for the
old form of dissipation and even those
who perceive it's ultimate dangers drift
on with the fateful cry OF latter me the
deluge."
There is no longer any use of divesting
the present difficulties of political signif-
canoe, though the party really respon-
sible for the crime is the party which is
to reap the benefit Of its misdeeds. The
punishment is to be meted out to the
physician who probed to the seat of the
trouble and applied the remedy which
had to be drastic and therefore unpleas-
ant. The democratic party Of Wisconsin
Is barred from finding fault. 1t came
into power on an issue fully as mlscE1ev-
Gus and not one whit less protentous of
evil in its results. The Pilot then took the
losing side and knew that it was dong so.
1t now takes the losing side knowing
that it does so, but fully as conscious of
being In the right now as it was then, and
fully as regardless of results to itself.
There seemed to be every reason to hope
that intelligent self interest would sug-
gest that the present situation be divest-
ed of partisan features and that all would
work for a restoration of the business Of
the country to sound basis upon which
a structure of permanent, though not
glittering success could be built. There
| is no longer any room for such hope. The
determination to take advantage Of the
present situation for political purposes is
| fully as apparent as 1t was 1890, and the
evidence that people are fully as ready to
just as convincing.
The disasters of the last three months
| are due almost wholly to the tariff which
| has artitically increased the price of pro-
ducts which in turn stimulated produc-
ton by the increase of factories, and i'm
posed upon US system Of credit which
has crumbled from its own weight. The
present crisis might have been delayed
by continuance of the system of which
1t was the outcome, but it was inevitable
and delay would have added to it's de-
structive force. Business ventures were
built upon bubble like that of happens
ID Milwaukee, and the banks which by
extending credit kept the bubble from
bursting, went under when the collapse
came. There is lack Of confidence to-day
not because of the Sherman law, not be-
cause OF any fear of change in the tariff
laws, but because it is known that the
tariff laws and the wild speculation in
cldent, have been productive of mush-
room institutions which are unable to
withstand the slightest pressure OF hard
times. These are the legacies of the tar
III laws,--the dollhouse growth of over |
done protection. The banks which iden-
titled themselves with the line of bust |
ness nutured by protection have gone
under Fully ninety per cent. of the
banks which failed were rotten, honey
combed by the corruption bred by sys-
tenn OF laws which sought to create wealth |
by artificial means and in defiance of ma |
tural laws. To-day the one industry OF |
the United States which is not affected |
by the waves of disaster which are sub
merging the hot-house plants of protec- |
ton, is that one which derived no bene-
fit from protection agriculture. There |
is no want of confidence In the farm. In
the present stringency when factories are
unable to secure a loan at the highest |
rate of interest, the farm mortgage is |
"gilt-edge." A farmer of this county
this week borrowed quite a large sum of |
money at Az per cent. There is not |
factory IN The United States can do that |
to-day, no matter what its financial stand
ing.
Those portions OF the United States
which have made most apparent progress
under the tariff laws have suffered most
IN the "show down. The Mississlppi
Valley and the west sought to take adj
vantage of the delusive prosperity prom
ised by the tariff laws. The bubble has
burst and they have not what they might
have had, had they progressed in sccor-
dance with the natural laws of business.
Our tariff laws have been another Missis-
sippi Scheme and we are paying the pen
atty of disregard of eound commercial