Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-23

bowling calamity and predicting disas-
ter as the natural result OF the Access
sion to power Of the Democratic party.
Among these is our neighoor, the
Intsuigeacsr. 1t had barely recovered
from its surprise at the overwhelming
verdict Of the people against further
Republican misrule, when it became a
persistent prophet of evil. Every bust
ness failure, every stoppage Of mills
and factories. every bank sus-
pension has been unduIY paraded before
the public and labelled ''the result OF
Democratic rule" 1t has conjured be-
fore it's readers the bugaboo Of Demo-
cratic free trade and told them with APP
parent seriousness that the country was
going to the dogs before breakfast.
1t is unnecessary to tell the intelligent
reader that oil this is political twaddle,
INDUCED in with the hope OF
aiding the falling fortunes
OF Republication. But 1t is more. 1t
is criminal politics. 1t has probably
done more than any other agency to
destroy confidence aud further the
panic. 1t shows that the Republican
leaders are willing, in their desperation,
to bring the country to the verge OF
ruin by exciting baseless fears, in order
TO stampede the people into the Repub-
lican ranks. Such vicious tactics are,
unfortunately, beyond the reach of law,
but nevertheless are criminal in inten-
tion and result.
Do these prophets OF evil believe that
the Democratic party will DELHI
erately leglslate the country into
bankruptcy? That it will pull
down the pillars of the temple and
involve all interests in the general
wreck? The ballots show that vast
majority Of the people OF the United
States are Democrats, and It is reason
able to suppose that they are as vitality
interested in the welfare Of the country
as their Republican brethren; that they
have at least some pecuniary interests
worthy OF preservation.
The task now devolvlng upon the
Democratic party is to extricate the
country from the quagmire In which 1t
has been placed by vicious legislation,
and for which the Republican party
alone is responsible. It will be remem-
bered that at the close Of the war the
greenback was below par, worth in 1870
about SIS cents, and was brought to par
with gold by an act of Congress author
izing the Secretary of the Treasury to
sell bonds, by which 500, 100000 was
realized and placed in the treasury
for the redemption of greenbaoks. The
paper money Of the governpsnt ceased
to be merely promise to pay" but
anybody that wanted 1t could have it
redeemed in pcl1 on demand. This
begot confidence and that confidence
remained so long as the reserve was
preserved intact. By the terms
Of the sherman law, passed by
a Republican Congress and signed
by a Republican President, the govern
ment was compelled to purchase 4, $780,
600 ounces OF silver per month, for
which 1t issued what are known as
silver certificates, and this policy was
continued until the government had on
its hands the task of keeping $500, OOO,-
600 Of all kinds Of mOney-greenbacks
and 55-cent silver dollars-at par with
gold. Immediately the 500, 100000
gold reserve fund became i'm
paired. The people saw that the
governments security for its promises
to pay was disappearing. What
il the whole S1OO, 900 OF the.
gold reserve were withdrawn from
the treasury by holders Of greenbacks,
silver certificates or treasury notes?
Inc treasury NouiA 70 bGuhA uP0s
Hence public confidence vanished and
then came the panic through which the
country is now passing. All this bad
legislation and the impairment Of the
gold reserve transpired under
the Harrison administration, and
the American people are too intelligent
to permit the real cause of the nations
hard times to be hidden by the cry OF
free trade.
With legislation in prospect to re-
lieve the condition of the national
treasury, there are already signs of
returning confidence among the people,
but the free trade howIers are still
hsrping on.
UNDER rae GUIsE OF RUNGER,