The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1894-02-17
Chauncey N. Depew Teaches the
English.

In undertaking to instruct the
English people concerning the poll
tical situation in this country Mr..
Chauncey M. Depew rather super
ciliously expresses his surprise at
the "misinformation" that prevails
among them on this subject. He
then proceeds to make a large con-
tribution to this misinformation by
telling them that the monetary and
industrial paralysis" that overlook
the United States in the summer
of 1898 was caused by the election
in November, 1892. An Englishman
might we'll ask our American hu-
morist if the threat of tariff reduc.
tion in this country in the election
of 1892 is what caused the business
depression which prevailed that
same year in Great Britain in Ger
many, in India and in many other
portions of the world.
In order to fasten upon the Dem.
ocratic party responsibility for a
condition of affairs utterly beyond
that party's control Mr.. Chauncey
M.Depew and his associates find il
necessary to ignore every import
ant fact goes to make up the issue
Their argument proceeds in this
fashion: In 1892 the people of the
United States foolishly declared
for a reduction of the tariff. A finan.
cial crisis set in some time after
President Cleveland went into of.
flee. Therefore the Democratic
party caused this untoward event
by electing Cleveland and propos
ing to reduce the tariff. The Demo
cratic party is substituted for the
majority of the American people
who have been guilty of this grea
political crime in the arrogant rs
sumption of a defea ted minority.
But is there man possessing {
modicum of the reflective facult,
who will accept such an explana
tion? Would not such a man prefe
to go back to the anterior causes o
a phenomenon which Mr.. Depev
fippantly ascribes to panic fear o
the "free trade" which he himsel
tells the English peosle is only ,
"myth ?" At every step the homes
searcher for truth would stumble
over the facts which Mr.. Depev
finds it necessary to set aside. Stat
ed with as much succinctness a
possible these facts are as follows
When President Cleveland sur
rendered his office to Presiden
Harrison on the Fourth of Marcf
1889, Secretary Fairchilds' state
ment showed q surplus of $105,0O0
900 in the Treasury, From the At
of March to July /, 1s9O,the Secre
tary of the Treasury paid out $24f
62O,741 for Government bonds of
par value of $2ll, ,s82, ,45O- nearl,
$s5, 100000 in premiums to holder
of public obligations in anticipation
of the periods of redemption. 81
multaneously with these financia
transactions the Reed Congress
passed the silver purchase &C
which seriously disturbed the pull
lie finances, and then proceeded I
deplete the Treasury surplus. TIL
sum of $17,00O,O0O was given to tn
States as a refund of direct tn
paid in 1861! and liberal bountie
were paid to the sugar planter
and steamship companies. Wit
the pretext of lessening the poo
mans burdens the Mckinley tari
reduced the internal tax on 18th
, necessity Of manufactured tobacc
, and increased to nearly one hunt
red per cent, the taxes on such lu,
, uries" as woOlen clothing. Boas
ing of p "free breakfast table" i
author despoiled the Governmel
: Of $65, ,0OO, 900 Of fical revenues frol
!, sugar and increased the taxes o
: table cutlery, delf and many art
}. cles Of breakfast food. The rev
nues' from sugar and tobacco,
, which the Mckinley tariff strippe
. the Treasury while desPoiiing col