The Indianapolis journal., 1893-07-24
Gen. Harrison Says the Country Waits
for Democrats to Keep Their Pledge.
Sherman Act Not Alone Responsible for the
Depression, Since the People. Having Lost
Confidence, Are Hiding Their Money.
Western and Southern Senators May
Combine to Oppose the Repeal.
Meetings in Montana and California Where
Resolutions Are Passed Calling on Sena.
tors to Fight for Silver.
VIEWS OF GENERAL HARRISON.


Does Not Believe the General Depression IL
Solely Due I'd Silver.
NEW YORK. July 22.-Ex-President Ben
jamin Harrison, in the perfectioniOf health.
is passing the heated term quietly at his
cottage at Cape May Point. just in front of
the ligh thouse. General Harrison spends
his mornings at work In the library, delv-
ing in colonial records on subjects connect
ed with the development of constitutional
law In this country. He intends to mako
tho course of lectures to be delivered at the
Stanford University complete. Sea baths
and quiet conversations with friends and
acquaintances form his only diversion.
Thursday General Harrison described to
an acquaintance the existing business de-
preston, according to the New York
World. as follows:
THE Sherman act is not alone RESPONSE
BILE fog the prevailing want of confidence
th0s everybody now experiences. The
distrust Is not against silver only. 1t Is
not against the. government Issue of money;
people are not holding gold throughout the
country. Relatively gold Ia circulated as
is silver, people are withdrawing money
gold. silver and paper alike-from their
circulating banks or the SAVINGS institu-
tions and are locking it in savings deposit
vaults or hiding 1t away in old stockings.
They do this not because they have not
confidence In government money, but be
cause they are fearful OF business calami-
ties.
The Sherman act is not the sole cause
of bad times. That measure has served it's
purpose. it is true. but 1t is not RESPONSE BILE
for the depression which Overhangs com-
merce, trade and agriculture. The pOliri-
cal party in power came in on q statement
of its principles formulated and promulga.
ted at Chicago. where gathering which.
representing diversity of political beliefs
and prejudlces. gave this statement to the
country as the platform of the Democratic
party. 1t was announced to the country
that tho existing sy stem of tariff should be
modlhed to the extent OF tariff for revo-
nue. only. On this basis the candidates OF
the party now in power were elected. The
enormous manufacturing interests were Of
course duly impressed, and business has
been com mpelled to suit itself to the condi-
tiOn to which the Chicago platform would
logically lead
1T is impossible to suddenly bridge over
the wide chasm intervening between COM
parative free trade and the protective sys-
TEN under which the Nation grew rich
without convuislons In trade. Great eco-
nomlo changes do not adjust themselves
with celertty; hence. fearing changes. TAO.
tories stop. workshops close and prices
shrink. II the Chicago enunciatiOn of prin-
cip!ss IS to be maintained, business must
ptCpoic lUI CuHUR6. ACCOTuluk I'D lto
principles the government is asked to re-
duce the tariff to the standard OF the CHI
cago convention. The business of the
country cannot prosper under these circum-
stances. Distrust is widespread, every
thing languIshes. The Heterogeneous po-
litical elements that Will meet at Wash
ington in August will represent free trade
and many theories contrary to business
stability. The cOnservat portion of the
country stand aRhast at the possibility of
legislation. and are trimming sails to suit
the weather.
''The distrust might be dispelled. perhaps.
but howl In one the situation Is
theatrical Excitement may be calmed by
q stroke of inspiration. A panic is some
times averted by q band striking up = pop
ular air just as the frightened crowd is
about to rush and trample over one an
other. How can the present somewhat
analogous condition be changed by sud
denly inspired confidencef The leaders of
the party III power will scarcely acknOwl-
edge that It's principles are mistaken ones.
that the Chicago platform was false, and
should be repudiated. can see no Moses
at present who will lead the business
world out of its slough of dependency"
General Harrison congratulates himself
daily that he is free from the cares and
worries of public life. He sympathizes
personally with President Cleveland. who
Is carrying, he thinks. O bout as heavy q
burden as mortal man can bear up under.