Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1893-07-29
Ex.PRESIDENT HARRISON.
The New York World Publishes His View
ON the Cause of business Depression.

The New York World Publishes His We've
ON the Cause of Business Depression.
New YORK, July 24.-The World
prints the following as ex-President
Harrisons expression on the existing
business depression:
The Sherman act is not alone responsible Tor
the prevailing want OF confidence that this
country now experiences The distrust Is NOS
against silver only. It Is not against govern
ment issue OF silver. People ore not holding
gold through the country. Relatively, gold IL
circulated as freely as silver. People are hold
ing gold from the circulating banks or the saw
ing institutions and are locking II In safe dc.
post vaults or hiding II away In old stockings.
They do this not because they have not con-
hdepce in government money, but because they
nre fearful OF business calamities The dis
trust Is increasing and the outlook Is gloomy.
The Sherman act Is not the sole cause OF pap
times That measure has served Its purpose.
II is true, but IL is not responsible for the de.
preston which overhangs commerce, trade ana
agriculture.
The present party In power came on state
ment OF its principles, formulated and promul'
gated at Chicago, where gathering which rep
resented diversity OF political beliefs ana PREF
udices gave this statement to the country as tho
platform Of the democratic party. 1t was an
nounced TO the country that the existing sys'
tenn Of tariff should be modified to the extent
OF tarifi for revenue only On this basis the
candidates Of the party now In power were
elected The enormous manufacturing inter.
ests were, OF course duly impressed, and be-
came compelled 10 suit themselves TO the con-
dition TO which the Chicago platform must
logically lead
II Is impossible to bridge over suddenly the
wide chasm intervening between comparative
free trade and the protective system unocr
which the nation grew rich, without prolongea
commissions in trade Great economic changes
do not adjnst themselves with celebrity; hence,
fearing changes. they stop workshops and
prices shrink.
II the Chicago cnunciation Of principles Is u
be maintained business must prepare for .
change According TO its principles the govern
ment Is pledged 10 reduce the tarin 10 the
standard OF the Chicago convention. The Dusb
ness OF the country cannot prosper under ths
circumstances. Dlstrust Is widespread, every
thing languishes.
The HETEROGENEOUS political elements that
will meet at Washington In August will repre-
sent free trade and many theories contrary q
business stability. The conservative people
stand aghast ut the possibilities and are trim
ming sails TO suit the weather.
The outlook Is dark because Il Is dificult u
see how relief il 10 come The dlstrust might be
dispelled. perhaps, but how! In one sense tia
situation Is theatrical excitement may Be
Gained by stroke Of inspiration
How can the present somewhat analogoui
condition be changed by suddenly inspired con
ndencei The lenders of the party In power
will scarcely acknowledge that its principles
are mistaken ones, that the Chicago platform
was false and should be repudlated can see
no Moses AZ present who win lead the businest
world cut Of its Egyption darkness