The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1893-09-15
BUSINESS AND the SHERMAN LAW.
Atlanta Constitution.

Atlanta Constitution.
The Sherman law should go, be-
cause, in the language of the Demo-
cratic platform, it is a miserabl,
makcshift. 1t stands in the way of
bimetalism. That is the Democratic
objection to it.
The friends of the single gold stand
ard based their opposition to the
Sherman law upon the purely imagi.
nary ground that it menaced the bus
mess interests of the country. They
declared that it caused the outflow Of
gold to Europe in the early part OF
the year, and they held it responsible
for our period Of depression last sum-
mer. Whenever there was COM
plaint of unfavOrable financial, COM
mercial and industrial conditions
this clique was ready with the same
cXplanation-th Sherman law.
But this absurd theory fs now COM
pletely exploded. Gold is rushing
here from Europe at the rate OF a
million dollars day. Shall we cred
it this to the Sherman law which is
still in existence? From every quar-
ter comes the intelligence of return
ing confidence. reviving commerce,
active industry and cheaper money.
Is the Sherman law the cause Of this
improvement? The monometallsts
who indulge in this silly twaddle for
get that when we had good times,
three years ago. the Sherman law was
in operation. 1t was in force when
the period of depression came, and it
was also in force when our gold went
to Europe, and when it returned. 1t
is still on our statute books, and yet
we seea general resumption of busi-
ness in the manufacturing industries
of the East and West. The suspend
ed banks are rcopening, and New
, York has notified the Southern
banks that ample funds are ready for
the movement of the cotton crop In
fact money is being offered in every
direction. Distrust has vanished,
and if the financial experts are cor
rect in their predictions money will
o soon be as cheap as it ever was.
q We do not mean to intimate that
f the Sherman law aids these favorable
o conditions. 1t remains the miserable
n makeshift branded in the bimetallc
q plank of the Democratic platform.
But it has at no time been RESPONSE
p BILE for our disordered business situa-
Q tion during the past summer and
i spring. We must go beyond the Sher-
+ man law and far deeper to find the
: true cause Of our depression. There
, were many causes. The financial
$ stringency in England, the collapse in
& the Argentine Republic and in Aus
r. tralia, the fear OF the contraction OF
" the currency under the policy Of mon.
ometalsm, the uncertainty regarding
N the policy of the administration all
is had something to do with it. Then
70 we should take irto consideration the
N fact that depressions are periodic
10 They intervene between eras of pros
70 perity and development. They arr
10 the resting spells of progress. The!
III enable us to balance accounts and fint
sb out ''where we are att After th
w general liquidation, we go ahead will
m renewed energy, overdo everything
re and then in twenty years or so g
of through the same experience.
The Sherman law has brought u
we neither good times or hard times, bu
N. it is a makeshift that should be re
pd moved. We must get it out of tn
as way, redeem the financial and tari
zee reform pledges in our platform, an
buckle down to business. The out
i'm look is bright, and we shall see VIII
in. ter of plenty and prosperity. The r.
action may even take the shape of
in general boom. We may leap from tt
extreme of depression to the oth'
re. extreme of flush times, Sherman Law
or no Sherman law.