The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-07-24

not think a failure to agree would be as
disastrous us the present state OF al
fairs. II is idle 10 say that this country
could not 60 In its business II It should
not agree with Europe in the matter OF
the singla standard. France malntains
the double standard and is prospecting,
II is not the kind OF money which
makes u country rich and prosperous
il is its resources climate, soil, mines,
forest and labor which make o country
grow and produce wealth,
THE scare about silver was stage
fright at first; 1t was largely manutac'
tured, but there has been so much said
and so much agitation that there is now
general alarm in the minds OF many,
Bat II people now alarmed about silver
will consider that silver did not cause
the shutting down OF mills or stop tac.
tories; did not cause contraction Of
business did not turn the balance of
trade against us, and il they will think
further for a moment that the faith
aud resources OF the government are
behind all OF its money; that not many
years ago, when We were not nearly so
well of-wlth a large national debt,
when there was neither gold nor silver
in the country, the only money-paper
based only upon the faith OF the gov
eminent and upon no Values-business
was prosperous, our foreign commerce
large, amounting to a thousand mill
ions per annum /; railroads were built;
resources developed and general conf.
dence exlsted-they will see no good
reason to be so much alarmed about
silver rs they are, or maintain that 1t is
the sole cause Of the present troubles"
THE DEMOCRATIC PANIC OF 1893.
"Then you think the trouble in the.
country and the present Disturbances
are rather due to the Democratic sue.
cess in November2"
~ do, This will be set down as the
Democratic panic Of 1903, brought about
by apprehension and suspense on the
part OF the business interests and to
what the Democratic party can or will
do ut the approaching session Of Con-
gross after pledging itself to break
down tho industrial system Of the coun-
try and coming into control OF the gov
ernment in all its branches for the first
time in thirty years A great writer
has said: THE unknown Is always mag.
niGed,' and so 1t Ia, even about what the
Democratic party will do. Remember.
ing its history and Its policy for the
last quarter Of a century Of negation and
obstructton-never constructive, but al
ways ob%struCtivei never building up,
but always pulling down; having lost
the faculty OF administration, it Is
natural the people should be filed with
anxiety, apprehension and suspense,
especially whom they must for nearly a
year before Congress- meets, and thon
for six months after to see what new
system will be put into law to govern
the business interests Of the country.
Under these circumstances it was to be
expected, us it was predicted, that ev.
cry business man after and since the
election would go slow, reduce ex.
pcuscs. build no additional plants, en-
gage in no new undertakings, make
manufactured goods only on orders and
such as could DO sold Immediately, and
manufacture nothing for the future.
What moved IL business man affected.
the others, and this spirit Of caution,
care, contraction and reduction spread
over the whole country; the fruits and
outcome oil what we arc now suffering
from-a Democratic panic, prolonged
aud distressing. Suspense long drawn
out is worse than disaster 10 over.
An aggregate shrinkage of 10 o Is per
cont In the business Of 90, 1000, 900 peo.
pic covering n continent works Il
change from prosperity to depression"