The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-18

| man should bring hls heafs "A" ..'''
10 bear upon the question IN tne spIi' %
/ the most exalted patriotism ana OF tne
, utmost establishment Applause)
: Now. my fellow-citizens. We confront
a financial panic. ] have seen = good
, | many panics In peace and have seen some
: IN war and the first thing df may
| gather a little wisdom from my military
| experienced for man TO do who nnds
| himself to-day in a panic. and Is perhaps
n.rtakIng n little Of II himself. is to get
his head cool and sit down and think over
| n before he advises anything. Now. they
tell US this panic is caused by lack OF
confidence. Undoubtedly II is There
never was panic that was not caused
by lack Of confidence since the world
begun. But what causes the lack of con-
fdence? I think, my countrymen, there
are a variety of causes for the present
troublous financial condition. When a
good doctor comes In to see a patient the
high object OF his profession is first TO
diagnose the disease and ascertain It's
cause. Now, then, we find in this country
that banks are failing; that manufacto-
ries are falling; that the value OF land Is
drying UP, and that the cost OF produc-
ing wheat and corn In not returned upon
the markets to the laborer and the pro-
Queer.
Cause of Our FfssucfaI Deposition.
call tho history Of affairs. there was
great failure In the Argentine Confedera-
ton in South America. The next thing
there was n great failure OF the great
house OF Barring & Brothers. in London
The next thing the English capitalists,
who were hard run for money to sustain
their financial affairs. threw two hundred
millions Of their securities upon the
American market, not because they were
| dstrustful OF US. but because hard times
had first commenced among them
In the second place. my felow-citlzens.
| do not forget, as some feel disposed to do,
that one Of the great aggravating causes
OF this panic is what the Democratic
| party told you last year would produce
| it, and that Is the unrepealed Mckinley
Tariff bill. (Applause.) No change in the
! tariff laws Of this great nation. Affecting
all commercial and all manufacturing In
terests, can ever occur without dis
adjustment OF business, and the fruits Of
the Mckinley bill are Just being proffered
| TO your lips The reason that they did
! not come more swiftly upon its passage
was because the year after IL was passed
| there was famine in Europe. in Ger
many and in Russia, by poor crops, and
| because they made the greatest draft
upon the American farmer that was ever
| known which for period sent us money
| here to stay the panic; but with no crops
| in Europe this year and with not so good
! on our side. the Mckinley chickens have
| all come home to roost. and the Mckinley
| taxes are al the bottom and root Of this
| financial panic. as the whole Democratic
| party told you with one voice In 1892 and
which am not prepared to recant in
| 1893 Applause) Now, my fellow-citl-
zens. there are two other causes OF this
panic. In the first place, in January last
there was another great failure in an
other British colony; that was Australia,
which required British resources TO go
there and help it. and. furthermore in
this present year the Kingdom OF Austria
has gone from a silver basis TO a gold
monometallic basis and has required one
hundred millions In gold In order 10 do
IL, and which has helped to turn away
the gold from the American people. and
the result Of all these causes combined is
such that whereas year or more ago
the balance of trade with Europe was In
our favor the balance has changed to
twenty millions against us, and clearing
house certificates to the extent of thirty
seven millions Of dollars have been re-
qured 10 establish new-found paper
currency in New York, and certified
checks are now being handed around In
all the marts Of exchange 10 supply the
want OF money in all the American
cities.
Remedy for tho Trouble.
Now, my fellow-citizens you ask me
fer The remedy for this trouble. (By n
dclegate-What about the rumors In the
pressO ] will tell you about that a little
later on. Well I don't see why I should
not take that UP now. There H. no doubt
about the fact that the excited articles
in the press have had great deal to
do in producing the state Of mind about
this panic, and that their attempt to
accomplish certain financial results by !
creating scare has raised a bigger scare |
than they intended. and the fire which |
they kindled to accomplish certain things |
Is now enveloping them in its flames. |
But my friend a little diverted me for |
d moment The Democratic party an |
tcipatcd this thing. and they met year |
ago In Chicago and nominated Grover |
Cleveland for the presidency OF the |
United States. And they laid down in |
black and white their pledges to the peo- |
pie OF this country, in which they told |
them that the Mckinley tariff bill was
a robber bill, robbing the people OF this |
country of their earnings and prostrat-
ing Manufacturers great anxiety OF |
the Mckinley tariff to provide a tariff |
for revenue, y hich would reduce taxation |
and leave in every mans pocket every
dollar OF money except what was abso-
lutely necessary for the expenses Of the
government. They paid attention also
to the election laws OF the United States.
and declared that they ought 10 be re-
pealed. They paid attention also 10 the
coinage OF the United States, and with |
one voice the Democracy at Chicago de-
clared that gold and silver were the
money of the country and OF the peo-
pie, and that they ought to be coined |
AT the mint OF the United state. without
discrimination against either metal (Ap-
plause) They also pointed out the fact
that during the war there had been
levied a tax OF 10 per cent upon the
State banks OF this country-that 4, n
tax for protection only. which doe. NOT
render per cent Of revenue.
Now / say when a party has been
trusted with victory by a connding peo-
pie. the way for them TO do 10 show
that they deserve that confidence and
are capable OF that responsibility. 1, IA
come right straight forward and redeem
all and singular in good faith. everv
one OF the pledges which were rnaae
lApplause) The character OF a political
organization is and ought to be Judged
IKE the character of a man, and the
trouble my countrymen, In this country.
is not so much in making platforms as
IL Is In the integrity and sternness Of
men who Will keep their promises after
they have made them and which thew
nave given their plighted faith 10 per-
form. l heard gentleman as I came
INTO the room say that he heard n car
pehter the other day describing what a !