Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-10-15

calamity: that the hepuelleah parry
only hope lies in deluding the people
into believing first, that the Democratic
administration Is responsible for the re-
cent panic, due largely to vicious he
npblican legislation; second, that the
Daric Of last year is still with US, and
third, that it is worse to-day and is con-
stantly growing worse. 1t wont 90 10
! show the first and not the last TWO or
even the first and second and not the
,ast. because the threatened" repeai
of Republican tariff laws which the m
telrioencer says scared the people into
panic-though, mind you, they voted
for that very thing-has actually come
m mass. the threat" has been carried |
ont. and the dreadful Democratic legls-
Ilation been enacted and is now the law
and now according to Republican logic |
the panic and depression OF last year
must be a great deal worse this year
and be getting worse all the time, else
the basis of the whole Republican cam
paign falls to the ground into eternal
smash.
Il must be acknowledged that the
Republican calamity campaigners have
a pretty uphill job on hand in the face
of rising markets, renewed industrial
activity. the greater employment OF Ia
nor and increased prosperity in all
branches of trade, 1t is pretty hard
to shout calamity and woe in the face
Of these things and while the noise OF
resuming mills and factories browns the
voice of the shouter and the smoke
from their chimnies half choke him.
But let us examine the record regard
ing the assertion that last years panic
was due to the Democratic victory OF
1s92-of course it is sufficient to point
10 the fact that the panic has passed
and entire confidence returned to de-
stroy its value for Republican campaign
nurposes, even if it were true, but let
ne examine the facts regarding 1t. IL
e will be- rendered that the condition OF
Things which finally resulted in business
manic had its beginning in the operation
of the Sherman silver purchase act'
which sent silver from 1870 rapidly down
the toboggan slide of decline, while goId
rose in proportion. Then began the
drain of gold, the contraction OF cur
rencv the calling in of loans, the CASH
> ing I'd OF securities, all slowly at nrs'
hint with steadily increasing speed ana
volume. Financial conditions began 10
take this shape long before the eiection
NJ 1892. and simply grew steadily worse
To save the governments credit HARRl-
2, SONS Secretary OF the Treasury had to go
N the Wall Street bankers and oorro"
. gold Thus the business panic began
= befcre Democratic victory was
ID tboppht Of 10 1890 and 1891 the first
two years OF McKinleyism, the business
failures increased 76l over the two
wears previous and the increase OF liza
btlities for the same period was over
S1O7, OOO,O 900. III will be remewOI ,,r.
self GSqPt / sh B ~ gySSou Hs9A
MCKINLEY went to the wall when his
!. own vicious bill was in full operation
aud long before the Democrats came
y, into power. His was one of the most
, conspicuous business failures Of the de-
cade. The second notable victim was
- CHARLES FOSTER, also OF Ohio, who
o was at the time Secretary of the Treas
ury MCKINLEY and FOSTER, the law
giver and the finance minister OF the
Harrison administration, went on the
, rocks as soon as the Mckinley law was
, we'll in operation. They cannot assert
. about their ruin, for they went to
, pieces long before the election. Their
p failures were no mole due to
fear" of the Democrats than was the
, general business smash-up that was GO
ing on all around them at the same
, time, which was also a period Of indus
trial depression, the strikes and lock-
outs numbering 1900 In the first two
years OF the Mckinley tariff, all Of
, which, bear in mind, occurred long be-
q fore the Democratic victory Of 1892,
and while the Harrison administra-
ton and McKineyism were in
full swing together. In view Of these
simple facts, which are within the
memory Of every voter what becomes OF
THE only issue"-aS the IntcLligencer
rightly puts it-of the Republican par
, ty, namely, that the Democrats were
responsible for il all? And what be-
come of that "only issue" in view OF the
further and far more important fact
that business confidence has been fully
restored long before the close Of the
second year of the present Democratic
ADMINISTRATION? Not only is business
improved and we have started again on
the road to prosperity but the condition
OF the governments finances are in
better shape than they have been for
many long day. The receipts of the
Treasury are large and growing which
z 80, Of he