The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1893-08-04
Stop the Scare.

1t would be we'll for all persons in
terested in business to understand
that this country is not going to smash
just yet. With ample money in the
country to transact all its business
with the people generally solvent
with the crops more bountiful than
ever before, and with all the most
progressive energies of the most pros.
porous country in the world, a frantic
fright may paralyze business for briei
season but the people will speedily re.
cover. 1t is only question Of stop,
ping the scare a scare that had some
shadow OF cause when Europe feared
our departure from a sound financial
policy, but for which there is no reas
enable excuse at this time.
The sensible business-like interview
given in to-day's paper from John
Field, one Of our most broad.gauged
and successful merchants, will be read
with peculiar interest by the public
generally. 1t shows by incontestable
facts what every intelligent person
should understand who studies the
present disturbed condition, but com
ing from practical merchant, record.
ing the experience of his own mer-
camille transactions, he reaches the
marrow of the issue with directness,
and proves that whenever the foolish
scare can be halted, business will as.
sumo Its usual serenity and values will
be speedily restored.
One of the most important deliver
ances made since the recent business
disturbance began comes from Will
liam {. Whitney, ex,Secretary of the
Navy. He is practical business
man; practical politician, and a
practical statesman who takes the
broadest view Of the whole business
complication. He first calls upon the
country to stop the scare, and at once
puts to shame the petty panic breeding
partisan organs which are trying to in
tensify panic for party ends. He sim
ply speaks the plain truth when he
says that tie repeal Of the silver pur.
chase law is ga palliative, not a pana-
cea." 1t is the present most threaten
ing of the ills that confront us, and
therefore it should be first dealt with.
Only those who seek to advance party
At the cost of business tranquility, or
seek to protect monopoly taxes by
'terrorlzing business, could demand
that tariff revision should be postponed
indefinitely to quell money panic.
Mr.. Whitney strikes at tn. very root
OF the issue when he declares that our
government 'is now supported by a
tax not upon property, but upon con.
SUMPTION" and that it is assessed not
upon what men own, but upon what
they eat, and drink, and wear" Such
a policy of taxation must sooner or
later, and soon at the latest, paralyze
Industry, commerce and trade, and it
is the fountain of the multiplied ills
which now disturb the masses of the
people. We can reach business pros
perity again-hrst, by restoring the
government to honest money and the
highest standard of credit and, sec
ond, by reducing taxes as far as may
be possible upon our industries and
the necessaries of life. These two
reforms must 60 hand in hand. Eth
er would accomplish much good, but
there cannot be any complete restora-
ton OF business prosperity until both
shall have fully been accomplished.
In the meantime, let us stop the
scare. 1t is senseless and destructive.
There is every reason why we should
have faith in our governments credit /;
in our country's resources and in our
selves and whenever we shall reach
that point, panic will end, values will
be restored to just standard, and
business prosperity will come as surely
as the morning succeeds the night
Times.