The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-06-12

=
against the Democratic party. except
for failing as yet to provide d remedy
for the wrong of twenty years ago.
Hon. Willis Sweet, Republican Con-
gresham from Idaho, has given his
views of the situation to a New York
paper Speaking of the serious eco
nomic conditions, he says:
Many hold the Wilson bill responsible
for the evils complained of. There IS
no Wilson bill in Germany England
or Italy, yet the people complain bit
terly of financial distress and ruined
values. Some say it is overproduction
| There is overproduction of real estate,
and most economists will agree that
there can not be an overproduction of
any commodity for a series of years
The imperial law of supply and demand
regulates production as certainly as
the planets regulate the rise and fall of
the tide.
After expressing his opinion that the
passage OF any kind of tariff bill
would ameliorate the condition of the
people, but an assurance that there
would be no tariff legislation would be
uellel, IIt SOeS on W Sdys
| But values have been declining for
years. Long before tariff legislation
was agitated available securities were
practically reduced to gold bonds and
preferred stocks. Without this class of
collateral the interest demanded and
the amount of security required when
pledged in ordinary property was in
tolerable.
| Today the entire production of the
1 7 Tv,f+ 1.,1,r
hopes, arc measured by the limited
amount of gold at our command. The
total stock of currency in this country
no longer measures our values The
| issue of credit money has passed he
| You'd hope of redemption.
1t is said by some; double the volume
| of currency, and you will double the
price of products. This lis not true.
| Double the measure of value, and you
viii increase the price of products.
From this source alone must come per-
manent relief to the producer and an
abiding prosperity, For this reason L
am bimetalhst, for this reason L
favor the free coinage of gold and sill
yer. l am not in favor of waiting an
| other day for any other nation to enact
remedial silver legislation or instruct
Americans what to do in the premises.
am tired of witnessing the deStruc-
! ton of my own country to satisfy the
greed of money-lenders in America and
out of it. These people will not con-
sent to bimetallism until they are COM
PEELED to.
! Our local Republican organ has re
Gently confessed repeatedly that the
prime cause of the prevailing distress
was the demonetza act of 1S7S and
the only remedy for existing social ev-
lis is the restoration of silver as
money OF ultimate redemption" That
being the case, the mere change of adj
ministration and the changes proposed
in the tariff, but not yet effected, cam
not be truthfully charged with the
troubles that have come upon the coun-
try during the year that has passed and
which still spread their blight over the
lard.
Let the blame rest where it right
fully belongs. If some of dt rests upon
the Democratic Congress for not being
swift enough to repair the wrongs of
two decades of Republican financial
folly, THE great burden of responsibility
must of necessity rest upon the party
that wrought the wrongs complained
of. and which 1T is alleged ought to
have been Immediately righted.
Let this fact be kept before the
masses of THE people. And show them
clearly that while the great outburst
of trouble was coincident with a,
change Of national administration, like
other events that happen together, the
causes were pre-existent, that bad sill
Yer legislation more than the tariff was
THE origin of the evil and that, in any
event, the party now in power cannot
be justly charged with the long con-
Itinued errors of its predecessor and to
make such a. charge is the vilest kind
of partisan demagoguery, which decent
Republicans themselves are beginning
to abandon.