The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-01-03
PAST PAN1cs AND DISASTERS.

The Republican stumpers who tell
the people that the business troubles
of 1892 were the effects of Democratic
accession to power, know that they
are perverting the truth and putting
the effects before the cause. They are
equally false and deceptive in declar-
ling that those troubles were without
a parallel in the history of this coun-
try. The following from the New York
World, puts facts and figures before
the public which no Republican mis-
representation can overcome. Read
this, thinking people and learn the
! truth:
To hear the outcry of the Republican
| paruSanS over the present business
depression one unfamiliar with our his
tory for the past thirty years might
suppose that this country had never
known hard times under high tariffs
before.
1t would be a, great mistake. His
tory is now simply repeating itself
| If ever the experiment of taxing a
nation into prosperity had a fair trial
it was IN the period following the war
And yet the panic of 1873 was the most
disastrous and the period of business
| depression for five year thereafter was
the most severe of any in history. 1t
was officially estimated that at least
S,Ud1.o00 workingmen were out of en-
ploJilent And yet the tariff was
nearly as high as the Mckinley abom-
ination. The Republicans were in full
control of the government
From 1881 to 1886, under two Repub-
i lican tariffs, there were labor strikes
involving 22,9O4 establishments and
1,323,2O3 workmen OF these strikes
8, 439 were for increase of wages Then.
as Master Workman Sovereign well
says is the case now, protected manu-
facturers showed no disposition to
share their bonus with their work
men except upon compulsion.
The Republicans "tinkered" the tar
if in 1888. In that year there were
1884 business failures, involving
S172, S74,000 In 1884 there were 1O.96S
failures. involving $226, S43, 600 In the
next year there was widespread
business depression, with 1000 900 men
out of employment.
In 1890 the Mckinley bill was passed.
and there were 1888 failures that year
and 1884 the next, with liabilities in
each year amounting to nearly $780,
100000. The tariff went up to nearly
90 per cent, but wages either stood
still or declined.
Tramps and trusts were practically
unknown in this country until after
we had suffered from a monopolists'
tariff for number of years.
The worst labor troubles, the blood
lest riots, the most destructive strikes
the most brutal lockouts ever known
IN any country have occurred in the
United States under the high tariffs
bought, made and paid for by the con
trlbutors of the Republican campaign
funds
The financial and Industrial history
OF the past thirty years is simply a
succession of short sputts of activity
Iartif1cially stimulated interrupted nv
collapses, panics and long periods al
depression and distress In not ter
| years out of the thirty has labor in thf
, iso-called protected industries beer
secure in steady employment at fail
wages.
The. panic Of last summer started
when the average tariff on dutiab,f
: goods was 49 per cent.-pretty aearI,
) the highest in our history-and wher
1t was perfectly well known that nc
change would take effect for nins
months or year to come 1t was
due chiefly to the unsettlement of oul
currency by the Republican silver
purchase and imitation act. BIT The
! old trouble of market gIutted will
goods under the enticement of tariff
bounties contributed to the result.
: The cry of the McKinleyites that tn,
stagnation and consequent distress ar,
due to prospect that the necessarie.
of the people and the essentials of man
r ufacture are to be untaxed, in obedi
ence to a mandate of the voters twic.
repeated. not only imputes incapacit,
3 to the people, but ignores the facts o
! history which are known to all intelli
gent citizens
The idea that the proposition to re
: duce the tariff to about the avsrag
of ten years ago is IAN abandonment
of protection, and this throws Is
r country into depression which i