The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1895-03-22
Hard Times and Their Cause.
Editor DCmocraf:

cause? Some tell us that the Cleveland |
administration, and it alone, is respon-
sible for the present business paralysis, |
which is unparalleled in the history Of
the nation. Let us see how much truth |
there is in is assertion. There ia no
doubt in regard to the phenomenal pros
perity OF the country during the last 25 |
years before the change of administra-
ton, and in regard to the equally phe-
nomenal hard times since that change, |
that the republican party did much in
bringing about the former condition of
affairs, and that the democratic party is
not entirely without responsibility for
the existing paralysis OF business cannot
be controverted. But that the demo-
Gratis are entitled to no credit for the %
years of continued prosperity and are
solely responsible 70. the 21S years of
financial stringency, has not been dem
onstrated by any one whose writings
hare come under my observation. lam
well aware that the change in tariff leg
islation and the time consumed in effect
ing it, were detrimental to the business
interests OF the country, and that the un-
wise, selfish and uupatrlotic twaddle on
the free silver question contributed its
quota in causing financial depression;
and can join with DR.. Talmage in
thanking the Lord that the 5Srd Con-
gress has adjourned and that many who
represented the people in that body will
represent them no more; but when l am
asked to accept the assertion that all the
useless and unwise legislation of the last
Congress was done by one party, re
spectfully decline. And have yet to be
convinced that the ultimate and only
cause of the existing stagnation in busi-
ness originated in party legislation.
Such legislation, doubtless. was the oc-
casion of the present financial crisis, for
which some remote cause or com5ina-
ton of causes had been preparing the
way. What, then. vas the ultimate
cause of the present hard times? l be-
lieve it was the love OF money, which is
the root OF all evil according to good an
| thority. Washington Irying's 'Al-
mighty Dollar" exerts tremendous in
tiuence in the affairs of men and nations,
F! and the love OF it seems to be innate in
the human race. At any rate, it is de-
veloped in the heart early in life and is q
ruling passion down to old age. And
this is especially true in our own great
nation, in which not few have become
millionsires in the last quarter of cen
tuiy. To crafty their Unsuitable desire
for wealth many men will do and dare
anything. Their only aim in life is the
accumulation of money, and they often
| acquire it at the sacrifice OF character,
reputation and friends. In fact, doubt
whether any man can honestly and hon
orably become millionaire in % years.
There may be some honorable excep-
tions, but they are few and far between.
The great majority of men who have
piled up their millions in few years
have been spectators in r. &. and
others stocks, which have been well
watered, or bought at somebody's ex-
pense, or dishonesty manipulated In
some way. Aud the same dishonest and
dishonorable means for the accumulation
of wealth are often employed by would
be millionaires. r. X companies are
formed. banking establishments are or
ganized, or some money making scheme
is devised by men who speculate on the
capital OF others. But upon this point
l need not enlarge Many of the people
o: Albany and the surrounding towns
know something about the speculations
| of such men from personal experience.
| A SIS, 900. 900 r. R Is built and operated
\ few years. Then it goes into the hands
! of receiver, and in short time the
SIS, 900 900 road is sold for 500, 900
And what is the result? Hard times for
the stockholders and unpaid employ
ees. And who ia to blame? The CIeve-
land administration. AK the employ
ees and the stockholders.
This is only one illustration out of
thosands which could be given. There
are perhaps few towns OF any import
ance on the Pacific Coast from Victoria,
B. c., to San Diego, CAL, which have
not had similar experience, or have
not been the victims OF one OF the curses
of the great West, forced and unnatur-
al boom in real estate, much of which
never had any existence except in the
''plats' of real estate boomers.
But swindling operations, beirayals OF
trust, and all manner o. devices to chea:
honest men and women out of their hard
earned savings were not confined to the
great sess, but were found in ali parts
of the country. Dishonest speculation
on other wherepeople's money was every
rampant; and the people thought the
times were good and would never be
otherwise Trade was brisk. Manu-
featuring establishments were running
on full time, and there seemed TO be
demand for ihei1p!oducts. Money was
abundant and was spent freely by all
classes of men, in many cases TO the full
exteAt of their income, just as if contin-
ued property was an assured fact.
Well-io-do farmers, who were free from
debt, we're not satisfied with the quarter
or half section OF land. and mor'gaged it
in order TO add another to il. Tie small
establishment doing casl business on
2n6 or 3rd street was exchanged for a
larger one on Front street, with much
greater stock of goods bought largely on
credit. The comfortable cottage WAS
exchanged for fine mansio J, which had
TO te elegantly furnished, Just to please
the girls" who were candidates for mat
rimony.
While these things were going on, the
majority of the voters of the country, by
their ballots expressed a desire for a
change OF administration. The change
was made. Bye and bye Congress began
to tinker with the tariff. The tinkering
was kept up ad fastidium OF many.
Merchants, ,rnanufae urers and others be-
came uneasy and finally lost confidence
in somebody. Those who had money
were unwilling 10 risk it on uncertain
. fiGSc. nSt1 4 l.