The Globe-republican. [volume] (Dodge City, Kan.) 1889-1910, 1893-08-25
THE DEMOCRACY INDICTED.
Public Distrust Of the Free Trade Admin
fStratiO0.

THE DEMOCRACY INDICTED.
Public Distrust Of the Free Trade Admin
istration.
The views of the leading republicans
of congress who have gathered At
Washington are positively to the effect
that the depression in business affairs,
which has come rapidly upon the corn-
try since the 4th of March, has been
caused by the democratic victory of the
sth of November.
They insist that during the two years
1891 and 1892, under a republican adj
ministration at Washington and under
the operation of the Mckinley tariff
and Sherman silver laws, the people of
the United States enjoyed an unprece-
dented prosperity. Both those who
favor and those who oppose the repeal
of the silver purchasing clause of the
Sherman law are unanimously Of the
opinion that the Cleveland-Carlisle adj
ministration of the treasury department
since March has been a far more
potent factor in inspiring and empha-
sizing the distrust than the operations
Of the Sherman law Amid the general
suspicion and uncertainty which natur-
ally attended the installation at Wash
ington of party pledged to reverse the
policy under which the American people
had lived for thirty-two years, and to
which the business affairs of the
nation had been adjusted, some
expression of financial views from
the president and his secretary
Of the treasury were anXiously
awaited. But they allowed the gold
reserve in the treasury to fall below
the one hundred million limit and they
permitted the rumors to circulate that
treasury notes would be paid in silver
rather than gold. thereby expediating
the withdraw wal Of foreign loans and
precipitating a wholesale outflow of
the yellow metal to Europe before a
tardy denial of silver payments was
forthcoming. And when, finally, after
the damage had been wrought and the
avalanche started, Mr.. Carlisle made
matters worse by declaring that the
treasury would pay gold las long as it
could '-throwing doubt on the ability
of the nation to maintain the purity IF
its various kinds of money-while the
presidents only utterance, apart from
an attempt to correct the erroneous im-
preston given out by Mr.. Carlisle. was
a cruel remark to the effect that the
country needed IAN object lesson"
treasury's gold reserve unimpaired. No
extra session of congress was called
Immediately to meet the crisis. No
declaration of policy was made. No
positive action of any kind was taken:
and, in the meantime, depression seized
upon the business interests of the land,
like creeping paralysis. To the inca.
pacity of Messrs. Cleveland and Carlisle
to comprehend the financial situation
much less to comfort and inspire with
confidence the financial interests of the
land, is the existing depression in large
measure due.
But it is not to the operations of the
Sherman law nor even to the financial
incapacity of Messrs. Cleveland and Car
Isle. but rather to the widespread fear
of tariff smashing, that the existing dc
preston is due, in the opinion of the re-
publican leaders:
Vast industries have sprung up in
this country in almost every article of
production and manufacture" says Sem
ator John Sherman, land upon the full
confidence that, 20 the extent provided
by our tariff laws. the domestic pro-
Queer would be protected from the COM
petition of cheaper labor in foreign
countries. This feeling of distrust has
already greatly reduced the price of
wool and other agricultural products
that come into competition with foreign
products. The democratic party has
now absolute power to pass such law
as it may deem proper. Until this tariff
scheme is presented there will be pro-
found Gistrust.'
When the party in power" s.:ys
Congressman Burrows. of Michigan.
threatens every domestic industry and
all the labor employed therein with un-
restrained, violent competition and con-
sequent ruin, ordinary business sagac-
ity prompts reduction of expcndi-
lures, curtailment of plants and gener-
al Suspension 10 await Ine dow IL Is
this waiting, this fear, this dread of an
impending revaluation which is caus-
ing much widespread public depression
and calamity. You ask me the remedy
1t is simple. Let the party in power
publicly repudiate its Chicago platform
of free trade and wildcat money and
promise to let the tariff alone, and
maintain sound currency and public
credit. Business activity will take the
place of stagnation just as soon as the
public can be made to believe in the
sincerity of such a declaration"
These views are representatives of sre-
publican sentiment in congress They
are also representative of republican
sentimen. in the country at large.
There is widespread apprehension re-
garding the party which was voted into
power last fall, pledged as it is to
smash the tariff and to revive wildcat
currency. There is no confidence that
in repeating the Sherman law, or any
part of it. some better financial act will
be substituted. There is general fear
that the disaster of tariff destruction
threatens the industrial interests of the
Journal