Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-07-24
FEAR OF FREE TRADE
harrison States the Cause Of the
Business Depression.
The CHICAGO PLATFORM FALSE
Merchants. Manufacturers and Others
Are Dong all They Know to Meet
she Crash They Fear.

Skw YoRg. July g3-.The World this
worpiug prints the following as ex-
PFessisnt Harrisan's expression on the
existing business depression: The
sherman act i not alone responsible for
the prevailing want u confidence that
this country now experiences The dis
trust Is not against silver only. IL Is not
against government ISSUE OF money;
people are holding gold throughout the
country. Relatively. gold is circulated
as freely as 10 silver. People are holding
gold from the circulating banks or the
savings institutions and are locating it
IN safe deposit vaults or hiding IL away
IN old stockings. They do this not be-
cause they have not confidence IN gov
eminent money. bat because they are
fearful Of business calamities. The
distrust is increasing and the outlook is
gloomy. The Sherman act is not the
sole cause OF bad times. That measure
has served it's purpose. il is true. but il
IL not responsible for the depression
which oycrhangs commerce. trade and
agriculture"
Harrison Locates the Source.
The present party in power came in
on statement Of its principles formu-
lated and promulgated at Chicago.
where a gathering which represented a
diversity of political beliefs and preju-
dices. gave this statement 10 the coun-
try as the platform of the democrat
party. II was announced 10 the coun-
try that the existing system OF tariff
alg.,.f.t -. ..,f..f,staI -. he. ~ "A
tariff for revenue only.
On this basis the candidates OF tthe
party now in power were elected. The
enormous manufacturing interests were
of course duly Impressed and became
compelled To suit themselves to the con-
dition TO which the Chicago platform
must logically lead.
1T is impossible To bridge over sud
denly the wide chasm in the evening be-
tween the comparative free trade and
the protective system. under which the
nation grew rich without prolonged con-
vulsions in trade. Great economic
changes do no. adjust themselves with
CELEBRITY, hence. fearing change, factories
stop. workshops close and prices shrink.
If the Chicago enunciation OF prin-
ciple is To be maintained. business must
prepare for a change. According to its
principles the government is pledged To
reduce the tariff TO the standard OF the
Chicago convention. The business of
the country cannot prosper under the
circumstances. Distrust Is widespread,
everything ianguisnes.
No Moses at Hand.
The heterogeneous political elements
that will meet at Washington in August
will represent free trade and many
theories contrary TO business stability.
The conservative people Of the country
stand aghast at possibilities oflcgislation
and are trimming sails 10 suit the
weather. The outlook is dark because
IL is hard To see how relief is To- come.
The distrust may be dispelled. perhaps.
but howY In one sense the situation is
theatrical; excitement may be Gained
by stroke of inspiration. n panic is
sometimes averted 10y band striking
up popular air just IA the frightened
crowd IL about to rush and trample over
one another.
How can the present somewhat an
alogous condition be changed by sud
denly inspired confidencey The leaders
of the party in power will scarcely
acknowledge that lis principles are mis-
taken ones. that the Chicago platform
was false and should bc repudiated. |
can see no Moses at present who will
lead the business world out OF it's Egyp-
tian darkness"
General Harrison sympa;hizes person
ally with President Cleveland. who is
carrying. he thinks. about as heavy a
burden as mortal man can bear up
rpdar