Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1894-10-26

ONLY CAUSE FOR HARD TIMES.

Benz smiu HarrisOU Proves the Demo-
crs's Guilty OF Creating Disaster.
FORT WAYNE. Ind, Oct. 19.-After
a day Of phenomenal audiences, Gen.
eral Harrison arrived at Fort Wayne,
finding q crowd that exceeded any.
thing he had previously seen on this
or his last weeks trip. The side walks
and streets out 10 the carriages which
bore the party to AveliDe hotel were
densely packed with people, who kept
up u continuous cheering. Tue ex-
president was escorted Immediately
after reaching the hotel to he balcony,
from which he spoke TO the crowd of
fully 5000 At 8 o'clock he was es.
| corteO to skating rink, in which
5000 people had congregated. Whe
he ha0 entered the hall, the great
building shook with applause. Hon.
Charles ID. Everett, chairman of the
c.,uniy Committee, Introduced General
Harrison, VINO spoke 1t Considerable
leugth.
Causes Of Financial Disaster.
Referring to the recent panic, he
said: "When this panic began we had
more money In circulation Der capita
than We have had for many years.
| This had come about In this way: In
The first place. what 10 known as the
| Sherman law, the silver purchasing
| law, under which We bought 4, 800, 900
| ounces OF silver every mouth, we issued
u larRe amount OF what was called
treasury notes, SO the money in circu-
lation had been Increased by about
$l6O, GOO, 600 Ivy this new currency that
had been put out among the people.
The money In circulation had also
been enormously increased by q reduc.
ZION OF the surplus In the treasury.
"YOu remember, NY democratic
friends-I hope we are all friends-you
remember when they made campaign
on the theory that the country WIS
being ruined because there was &c
much surplus. They said; You have
taken this money out of the pockets o
the peop.e and delivered it up and 1t ID
doing nobody good That surplus
had been, by the purchase OF govern,
ment bonds, reduced enormously and
the money was out among the people
doing It's work. AID then by increased
hich am glad to say l
approved with pleasure aud have never
apologl2sd for-an enormous addI
tionai amount OF money was put IL
c,rculat ton among the people until oul
democratic friends changed the form
Of Indictment against us. They In
diced us Tor having too much In ths
treasury aud now they say We lei
too little.
Not Lack OF Money.
} "My point Is that the money In cir
culation was so largely creased tina
1t could not have been lack of money
that brought the panic on. II was no
; any lack of confidence on the part o
the people iu the money that was II
circulation. 1t was uot because the,
} doubted the value OF the bills or col
they had IN their pockets. 1t was on,
, OF the curious features VI that pani
that when men who had money wen
3 to bank to get 1t they did not car
what kind OF money was paid them
! whether silver certificates or not. The,
. did not stop to look at 1t, but took !
8 home and hid Il under the bed, or tool
1t to savings deposit company. Tn
1 result was great scarcity of money
= but presently the people got over thei
fear oil the banks aud they brought tn
money back.
"But the banks could make no US
OF II. Nobody wanted 1t, there wer
: no solvent borrowers who could us
the money and from that time to Thu
I this has been the SIT uation of our couu
4 try. All our banks have been file,
e with money by people who did no
: want 10 use It.
e "What 10 the cause of all this? !
e was the uncertainty that the demu
d cratic success of 1892 Introduced. Tn
democrats said they were going to de
] strOy this protective system. The
were going to tear down this hous
J. that sheltered us. From that time L
his the people have stood wondering
n fearing, dreading WI hat might be- don
Il on that question"