Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1893-07-27
Ex.PREslpENT HARRISON.
The New York World Publishes His Views
on the Cause Of business Depression.

The New York World Publishes His Views
on the Cause of Business Depression.
NEw YoRK, July 24,-The World
prints the following as ex-President
Harrison's expression on the existing
business depression;
The sherman act Is not alone responsible for
the prevailing want OF confidence that this
country now experiences. The distrust "a not
against silver only II Is not against govern
mont issue Of silver. People are not holding
gold through the country. Relatively, gold IS
circulated as freely as silver. People are hold.
ing gold from the circulating banks OF the say
ing institutions and are locking II In safe dc.
poslt vaults or hiding It away In old stockings
They do this not because they have not con-
hdence In government money but bceaupe they
are fearful Of business calamitioa The dis
trust In increasing and the outlook Is gloomy.
The Sherman act IL not the sole cause OF bad
times That measure has served It's purpose,
II Is true, but II is not responsible for the de-
preston which overhangs commerce trade and
agriculture.
The present party In power came on state
msnt OF It's principles, formulated and promul
gated at Chicago where gathering which rep
resented diversity Of political beliefs and pref
udices gave this statement 10 the country as the
platform Of the democratic party II was an.
nounced to the country that the existing sys.
tenn of tariff should be modified TO the extent
| OF tarin for revenue only. On this basis me
candidates Of the party now In power were
| elected The enormous manufacturing inter.
ests were, Of course, duly impressed, and be-
came compelled TO suit themselves 10 the CON
| dition 20 which the Chicago platform must
| logically lead
tits impossible 70 bridge over suddenly the
wide ohasm intervening between comparative
/ free trade and the protective system under
| which the nation grew rich, without prolonged
i commissions In trade Great economic changes
do not adinst themselves with oolerity hence
fearing changes they stop workshops and
prices shrink
| II the Chicago onunciation OF principles Is 70
| oo maintained business must prepare for q
change. According 70 It's principles tho govern
ment is pledged 10 reduce the tarin 70 the
standard Of the Chicago convention. The busi-
moss OF the country cannot prosper under the
circumstances Distrust Ia widespread, every
| thing languishes
The heterogeneous political elements that
will meet at Washington in August will repre-
sent free trade and many theories contrary 70
business stability The conservative people
stand Aghast at the possibilities and are trim
ming sails 10 suit the weather.
The outlook Is dark because II 10 dinicult "a
see how relief is to come. The distrust might be
dispelled, perhaps, hut howt In one sense tho
situation is theatrical, excitement may be
calmed by . stroke OF Inspiration panic II
| sometimes averted By band striking up pop
ular air Just As the frightened crowd is about u
rush and trample over one another.
| How can the present somewhat analogous
condition be changed by suddenly inspired con
hdencet The leaders Of the party in powel
will scarcely acknowledge that us principles
are mistaken ones, that the Chicago platform
was false and should be repudiated / can SEE
| no Moses at present who will lead tho business
world out Of Its Egyption darknesA