Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-08-03
THE FINANCIAL TROUBLE
Ridiculous Republican Raiings AgaIns
the Party in Power.

HE FINANCIAL TROUBLE.
Ridiculous Republican Ranings Axains&
the Party in Power.
To rail. to nag, to sneer at govern
ment is the privilege of the opposition.
A useful privilege of the opposition, in
deed right, is the right of free, honest
and intelligent criticism.
The governmental situation in the
United States differs to-day from that
which obtained year ago only in two
particulars. The laws are the same:
congress has not changed them in one
aota- But the personnel of administra-
ton Is different, and there is a purpose
IN all departments to bring about that
economy which is manifestly needed by
the stringency of the times, and ought
TO be the rule under all circumstances,
Tor government ought not be devourer
OF the substance of the people. or, to
state it more exactly, government
ought not to ask in taxes more money
than is needed for an economical ad-
ministration.
Democrats have been in possession of
the administration of the United States
since the Atm of March last During all
that period. but particularly for two or
three months last passed, there has
been widespread stringency of the
money market, resulting in business
depression, whereupon with almost
unanimous voice the republican press
of the country INDUCES itself in the
cheap reflection that they in their pre-
science told the country SO, that the
prosperity which republicans assured
them is not given by democrats, that
hard times result necessarily from DEM
ocratic administration of affairs, and
that if Harrison had been reelected
erybody would be on the high road
to prosperity. OF course there is no
specification warranting this criticism.
It grows out of the broad fact that. I'M
qUestionably, the times are hard. John
Sherman used to claim that the repub-
hcan party was the author of bountiful
crops. He would never assert the con-
verse of the proposition, though, that
when crops were poor there was respon-
sibility on the republican party.
An administration, save as it is ex-
t-svagant or economical, can have very
little influence upon business activities
OF the United States. Legislation,
which is more than the administration,
for II is congress and the executive to-
Gether, can legitimately do no more for
the business of the country than to give
it d stable currency. Congress has not
been in session since the advent of
President Cleveland, but business dis
tres. money strlngency, Is not pecul-
lar to the United States All civilized
countries are suffering because of II re-
bound from extravaganza, speculation.
Overproduction, and wild dissipation.
The business world has slowly wax
ened up from period of debauch to
take the inevitable consequences of a
sick headache and a remorseful DISPOSE
ton. The first check. the first real
realization of what was coming. was
the announcement nearly two years
ago Of the Earrings failure. 1t was fol-
lowed upon the part of prudent per-
sons by retrenchment, by failure to ex-
tend credit save where credits were
deserved. And though there was but
momentary check in the United States,
vet as it was slowly followed by a pol
icy soon becoming apparent of requir-
ing from the United States gold pay
ments confidence was slowly under
mined in this country. The process
commenced during the administration
of President Harrison. He was not re-
sponsible for it save as his signature to
the Sherman law had its bearing, and
the situation which has been finally
attained has been reached the quicker
less by occurrences in the United
States than by events beyond its juris.
diction. Australia gave notice of the
storm. So did India
The prudence of Washington, the
vigor of jackson, the patriotism OF
Lincoln, not all the virtues of the best
of presidents would in the slightest
change that distress in the United
States which has been produced
by series of events of worldwide oc-
currence. In the vulgar mind the
opinion fostered by persons of more
intelligence for party ends charges
upon the party in power all RESPONSE
bility for an unhappy business situa'
ton. But it is as certain as the day
that the situation would not as to tine
United States be changed in the
slightest were Benjamin Harrison, not
Grover Cleveland, president of the
United States: indeed, it might be
worse, because it was apparent that
under BENJAMIN Harrison there WOULD
have been none of that government,
retrenchment which must result in re
duction of taxation upon a people who
are less able DOW to pay it. or think
themselves so, than they We're veal
ago.
Some of the republicans of to-day
who charge the stringency of the times
upon the national administration were
in 1873 republicans who asseveratet
with tremendous emphasis that the
mere fact that Gen. Grant, a republic
an. was president of the Cnitee
States had nothing whatever to dc
with the panic of that year.-Chicag'
Times.
STOPPING FRAUD.