The Dalles times-mountaineer. [volume] (The Dalles, Or.) 1882-1904, 1893-08-19
FACETIAE AND FACTS.

FACETIAE AND FACTS.
Notwithstanding the fact that after
every free-trade "craze" in the United
States there has followed financial de-
preston and business stagnation, and
that history is simply repeating itself
in the present epoch. Democratic pa
pers all over the country are making
all sorts of excuses for the hard times,
The Union Scout uses the following
ingenious apology:
"The government, bankrupted by
mismanagement, was placed in the
hands of receiver few months ago,
and now, before the receiver IA Demo-
cratic congress) has even had time to
look over the accounts, the million
aires, who have become rich through
the failures, have Withdrawn their i'll
gotten gains from circulation and are
striving their best to create panic
and continually yelling the receiver
amt dom things right and is a ruinin'
the countryr Refreshing, isn't it,"
The United States being "bank-
rupted by mismanagement," before the
Inauguration of Mr.. Cleveland, is a
very strange and startling announce
ment, when the fact is apparent to the
most casual observer that the country
vas never in such prosperous condi-
tion as when Mr.. Harrison acsted
the White House. There was no lack
of public confidence in the people, fac
tories were working full time, and our
wage-earners were receiving higher
prices for labor than ever before If
our cotemporary intended hyperbola
in this statement of bankruptcy he is
not excusable, for the facts contradict
the premises assumed, and this ele-
ment of the art of rhetoric is supposed
to be founded upon absolute truth.
And then receiver" is appointed
only when the party assigns for the
benefit of creditors, and the Republi-
cans left the administration of af-
fairs with all obligations met and
an overfowing public treasury. The
last message of President Harrison is
indisputable evidence in this matter.
In that he gave facts and figures re-
garding Republican administration of
affairs, and proved that the balance
sheet of the republic was largely in
her favor. This cannot be contra
dicted, and the history of the nation
for more than thirty years ending
with 1892 proves that the party in
power had given the country the
soundest and safest financial and econ
omic policies that had ever been en-
joyed. The Republican party Is will
ing to stand by its record, and such
Maunchausen accusations as the one
quoted from the Scout must be taken
as facetiae.
But our esteemed cotemporary for
gets its preceding paragraph when 1t
prints the following in the same COL
umn:
SThe sheep industry is this year
suffering from the operations of specu-
lators who are taking advantage of
the possible reduction of the tariff and
putting down the price to less than
the cost of production"
The Scout is correct when 1t says
that the reduction of the tariff
would put down the price to "less than
the cost of production" and that spec
ulators and buyers are taking advanA
tage of the indications that point in.
this direction. In other words, in this
Democratic era of free trade, manu-
facturers are cautious about buying
raw material, except at prices which
would meet the reduction of the tar
if," which is "less than the cost of
production" Thank you, brother, for
the suggestion, for, concisely and
tersely you have solved the problem of
the present situation. This possible
reduction of the tariff is the key to
the closing down of factories, hoard
ing capital, failure of banks and gen.
eral depression; because when this
happens sheepmen and farmers must
sell their wool and produce for "less
than the cost of production" wage
earners must work for European labor
ers' wages, money invested will not be
renumerative, and the country will be
bankrupt. Is it strange that there is
a panic in the land when a party is in
power that is pledged to the Ameri-
can people to inaugurate such a
policy2 Not in the least, and we
are only fearful that the worst has
not yet been realized. The "scare,'
which some Democratic papers say is
only imaginary, has a substantial
foundation in present indications, and
will not be quieted down until some
hing is done to re-establish confidence
in capital and corporations.
The relations of banks to the peo-
,lo IN thio ono oS tba uorld obor1d h. |