Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1895-04-02
The Real Trouble.


st. Cloud journal Press: The
Willmar Tribune, the new Pop
ulist paper, says the bankers and
business men are responsible for
the recent financial panic and
the present hard times, ''because
of their superior advantage to
comprehend these things and
that "they should have foreseen
and averted the disaster. And
yet every proposition coming
from the bankers for the past
half dozen years has been de-
nounced by the Populists Of the
Tribune stripe, regardless of it's
merit, for the reason it did come
from the bankers. 1t was this
disregard of what the business
men of this country wanted that
turned this government over to
the Democratic party, and it was
the bungling, uncertain policy OF
the Democratic party that de-
moralized the industrial activity,
and brought about the present
hard times. The real trouble
with the country to-day is not
it's financial policy, but the new
tariff law, which fails to provide
sufficient revenue to pay the
running expenses Of the govern
ment, and forces this nation to
be continually borrowing money
through the medium Of bond
issues. And as long as our ex-
penses are greater than our re-
ceipts from custom AMI internal
taxes, just SO long shall we be
Obliged to borrow money and ill.,
crease the public debt.
The above criticism from the
St. Cloud Journal-Press: on All
editorial in Willmar Tribune
merits particular notice because
we presume it was quoted in both
the Argus and Gazette as an
answer to the Tribune, and also
because it sets forth succinctly
the contention OF republicans
when they attempt to defend
their position with argument.
LIE us see whether any state
ment we made has been contro-
verified.
Broadly speaking we claimed
that the business men and bank
els. and not the farmers or Pop
ulists if YOU like, were responsible
for our present panic.
Bro. Eastman does not con-
trOvert this statement directly.
The truth of our assertion is too
evident for that. But he turns
aside and says that "every prop
osition coming from the Bankers
for the past half a dozen years
has been denounced by the Pop
ulists of the Tribune stripe, re-
CARELESS OF its merit, for the
reason it did come from the
bankers Now we wish to re-
mind Bro. Est1nan that there
was no Populist half Il dozen
years ago. Half a dozen years
ago the editor of the Tribune was
a good republican. But grant
that men Of the Tribune stripe
denounced the financial legisla-
ton enacted during the last
half a dozen years at the sugges-
ton OF bankers, the trouble is
that the protest was not needed.
The bankers legislation carried
the day and brought the country
into it's present business stagna-
ton.
Now while we admit that there
are many remote causes both ut
home and abroad contributing.
to make this crisis, the immetliate
caurse of the panic was the So
called "parity clause of the Sher-
man law. Bro. Eastman will
not deny that the parity clause"
was inserted at the behest of the
bankers. The real object of the
parity clause wasnot understood
at the time by the people. oreven
by the majority OF the Republi-
cans in congress that enacted it.
But when Luchelheimer, Heidel-
back 4 Co. presented greenbacks
and demanded gold only by
virtue Of this ''parity clause
and Secretary Foster sanctioned
this construction by his ruling
that gold should be paid when,
ever demanded from the treasury,
it dawned on the people that. by
it all our silver money had been
demonetized from the position Of
money OF ultimate redemption
as it was under the Bland law
to secondary money-money re-
deemable in something elsa
silver greenback. BY the enact,
ment Of this parity clause and:
Il. the e, construction g y. placed upon.
1T by the secretary of the
treasury, this nation passed 81
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