The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-17
THE OHIO IDEA.

The Ohio Democrats have settled the
whole question of financial and indus
trial depression most satisfactory to
themselves, if not for the rest of the
nation, with the most sublime disregard
for facts imaginable. The Hon. A. w.
THURMAN bobs up from below long
enough TO remark in an address Of some
| 3400 words, or about two and one-half
columns of The News, that "gold did it. !"
1t takes him long while to say it, for
he has to cover good deal of ground
while preparing to say it.
The wordy argument with which Mr..
THURMAN endeavors to becloud the pres
ent tariff issue by pointing in another
direction is but free coinage smoke
intended to blind and deceive the people.
Speaking for the Ohio Democrats he
says: "If change of policy is not
made. We do not for one moment hesi-
tate to absolutely affirm that no matter
whether we have high tariff, low tariff,
or no tariff laws at all there can
be no permanent revival in
business affairs. Stocks of all kinds are
now SO low that we may expect some
commercial improvement, but thatit can
last for any length of time, If the present
monetary conditions are maintained, is
an absolute impossibility."
Ofcourse the tariff hasn't anything to
do with the present disturbance, as the
silly Republicans would have us believe.
The trouble is due to the fact that silver
has been "demonetized" as he claims,
and the only way to help this is to give
way to absolute free coinage of silver.
Yet only few short months ago the
national Congress, Democratic body,
was called together in extra session by
Democratic President, to abolish the
wicked silver purchase clause of the
SHERMAN act of 1890 which had been
passed by the Republicans, on the
ground that this attempt to force silver
to money position was creating finan-
cial unrest and depression.
Just how our Ohio Democratic friends
will reconcile Mr.. CLEvELAND's message
calling Congress together and Mr..
THURMAN's free coinage blast it would
be interesting to note.
Mr.. THuRMAN's address declares that
"prior to the demonetization of silver in
1873, gold and silver was the standard
money. Since then it has been gold.
The supply was cut in two. Could an
other result than the continued fall in
prices we have experienced for 30 years
follow the adoption of this policy?
| "All business men have been looking
for the cause Of this continual decline.
All sorts of insufficient and contra
dictory causes are assigned. 1t is affect
ing all industries in the gold standard
countries. 1t has been going ON pro-
| gressively for series of years. 1t does
not and cannot arise from local, tenn
porary or subordinate causes. 1t must
have its origin and development in some
| principle of universal application"
\ If this is the case it would be folly
for the United States to attempt single
handed to "restore" silver and to force
the other nations to give it equal recog-
milton with gold. That was tried prac.
tically by the Sherman act of 80, and it
resulted disastrously.
The silver question is indeed an i'm
portant one, but its importance is being
greatly exaggerated. In the time of
trouble such exaggerations are natural
and suggested remedies Immediately
take on the character of panaceas. while
a symptom is wrongly diagnosed as the
disease itself.
The threatened overturning of the
industrial conditions Of this nation. and
their readjustment on "A basis absolutely
unknown and in the form of an unwise
experiment, was the real cause of the
present depression when il started
Evidences of incompetency on the part
of the governing party and disposition
to still further tinker with the tariff. "a
well as the widest of schemes and of
financial delusions on the part of those
in charge of the finances of the nation.
have continued this depression.
The apparent determination of CAR
LrsIE not TO allow the great financial
centers of the world TO become convinced
that America is hereafter to be governed
wisely and sanely adds to it.
The first thing to do is to make the
protective system once more the policy
OF the nation and keep it 80. Then Il
will be an easier matter to attempt an
international agreement in regard to
silver. which would accomplish what
the United States single-handed would
only fell in and fail disas,rously.
AN EX.CATHEDRA VIEW.
THE News esteemed contemporary,
| tba Chattanno0a Tralaennau a. 1. h,,.;