Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1893-06-29
Expensive Experimenting.

The United States has been exper-
imenting with Democratic admins
tration and has found the venture
very expensive. A detailed list
of securities today and on November
Sth, 1892, shows that in seven months
there has been a depreciation in values
Of over one billion dollars.
II any one had predicted that with
in seven months after that election
day and of the return Of Democratic
house, senate and president to power
for the first time since 1856. q panic
would ensue which would exceed in
the aggregate of losses that world
famous panic Of 1857, when the same
party obtained absolute control Of the
government for the last time until 1892
the prophecy would probably have ex-
cited derision.
But these two calamities have come
to pass. The New York Press which
has made IA compilation of the figures
shows that It is true. Says the Press
further:
The figures, colossal as they are,
barely indicate the appalling proper
ttOns Of the disaster which has fallen
upon the commerce aud Industries of
OF the country. The shrinkage In per-
sOnal property, limited companies and
real values, other than stocks and
bonds, probably exceeds In amount the
exchange quotations. The total depre-
citation therefore In the wealth of the
country within seven months is
probably nearer two billion dollars
than one. Three fOurths Of this IN
paralleled fall in prices has occurred in
Ill days since Mr. Cleveland's inaugur-
alton. Such is the cost of his "object
lesson" to the country. Such IL the
penalty Of electing congress over
whelmingly Democratic and strongly
In favor Of debased currency, ard
free silver. WANT Of confidence" is
the sole cause OF the disaster.
One year aso business throughout
the country was prosperous. Week by
week through the first half Of 1892, the
mercantile failures showed falling of
as compared with the corresponding
weeks of 1891. The volume of our
foreign commerce for the twelve
months ending June 30, 1892, was the
largest in our history. The aggregate
value of exports and imports for that
year was 81, s57, 726, $40, a gain Of more
than 1923, 900, 600 over the preceding
year. The balance of trade In our
favor was $500 95I,3i2. How is it
nowY Mercantile failures are running
about twice RS high as at this time last
year; there is everywhere curtailment
of credits and feeling Of uncertainty
and apprehension; the balance Of trade
against us for the Ave months ending
May 81 was 500, 100, 49l, and the excess
of gold exports over imports for the
same period was $50, $50 1893. What
has caused this tremendous changer
Eastern Democratic papers tell us that
1t Is the Sherman silver law, nothing
but the Sherman silver law; repeal
that and the business of the country
will revive as by magic. But we had
the Sherman silveF law year ago; it
had then been In operation two years;
yet the business of the country was
exceedingly prosperous. Must we not
look for some new. factor to account, in
part at least, for the change which has
come about within yearp Is it any
thing but "want Of confidence" in a
Democratic Administrations Is 1t not
rather expensive experimenting that
the country has undertakenY