Evening star., 1896-08-25
REED ON THE ISSUES
The Speaker Addresses a Meeting at
Old Orchard, Me.
CONFIDENCE MUST Be RESTORED
He Declares That the Interests of
All Sections Are Identical.
BETTER TIMES ARE COMING

this vicinity at a political gathering today.
After brief Introduction Mr.. Reed said.
in part: What seemed the great primeval
curse that in the sweat OF his face should
man eat bread has been found in the wider
view of the great cycles of the Almighty
TO be the foundation of all sound hope all
| sure progress and all permanent power.
Man no longer shuns labor his deadliest
foe, but welcomes it his dearest friend.
Nations no longer dream Of riches as the
spoils of war. but the fruits of human
energy directed by wise laws and Tn
couraged by peace and good VIII. Battle
| ments and forts and castles, armies and
navies are, day by day, less and less the
eI gine of slaughter, and more and more
the guarantee of peace with honor. What
| the world longs for now g.. mot the pagentry
and devastation of war for the agg:andize-
ment of the few. but the full utilization
of all human energy for the benefit of all
mankind
ITO the 75.oooo00 of people which make
up the great republic, the opportunity TO
labor means more than to all the world
besides 1t means the development of re-
sources greatly beyond the comprehension
OF any mortal and the diffusion among all
of riches. TO which The glories of the
Arabian Nights are but the glitter OF the
pawn-shop, and TO which the sheen of all
the jewels of this earth are but the glum
OF the glow worms in the pallor of the
dawn.
But each individual man is w.ak end
powerless. Only by combination each with
the other can good results toe had. No
more striking proof of this can anywhere
be found than in that complex union of
men which makes up the modern nation
and modern society. But while men must
be united for great enterprises. the nature
OF man Graves also liberty ana Individual
ity. Modern union and the complex won-
derfuily complex, condition of modern So
ciety has drawbacks and sorrows which
are completely its own. Tho sachems Of
! New England had no finaneial troubles.
no strikes. The currency question was as
simple as a string Of wampum. In Central
Africa today banks never break. checks
are never dishonored, for neither banks
nor checks are needful for their kind OF
prosperity. Before the factory system rem
oered combinations of workmen rcedful
there was less discomfort, but also no pro-
| gresS, and there was no sharing 10y the
| toilers OF the profits and the pleasures.
Prosperity and Panic.
What are the causes Of prosperity, and
what are the causes of panic? Are they
| mysterious things beyond the human ken?
III you will analyze you will find that
whatever the remote causes are, and they
! are different every time, the immediate
cause of prosperity is the confidence of all
the people in each other and in the situa-
ton in the future. When the people all
work together. when they all have faith
in each other, then prosperity reigns. After
prosperity reigns for some time, longer or
shorter, men think that hard times are
permanently done away with, and get wild
and over-prosperity sets in. Then some
wise men, earlier than others, hat the
world cannot absorb alllthat is made, cam
not permanently support all the enterprises
which the over-contidence of men has set in
motion, and begin TO doubt, TO refuse dis
| counts, TO hoard money, and cali a malt 10
specuiations Then the distrust spreads
and hard times follow. Then we set to
work TO climb out of our troubles. and the
| process is slow. While we climbing out
We suffer.
I'm 1875 England had one of hose par
oxysms like the one passing
! through now. Everything there mad been
prosperous for long time The hum OF
| industry was heard all over the land. Mems
eyes looked into each other with trust
and faith In all mankind. Capital was
accumulated in legitimate business, which
| is the supply of each others wants. Then
| aH crmuiated capital, eager for employ yment,
burst the restraints of society and specu-
| lation set in. Companies were formed to
| dc everything under the sun and lend
everybody money, from the car of Rus
| sia to the King of the Mosquito shore.
| Pretty soon after slight drain OF gold, Il
occurred 10 some one to figure up all these
| contracts, and the astonisheI nation found
| that England had agreed to lend more
money than there was In the world twice
over. Then the bubble burst. merchants
| failed, banks broke, universal distrust
poured over the land. For one day trade
| absolutely ceased in London. Nobody
would take anybody,s notes or buy any
| body's securities. Where was the differ
| ence between England prosperous and
England at standstill? 1t was all in the
change of one word. Confidence was pros
| perity. Distrust was ruin.
Then began The slow growth Of conf
Gence again, which took years. But Eng
lands prosperity did not perish. In our
own country We have had many such in
starces many more than / mean 10 men,
ton, for history on that subject is as cheap
and abundant as wheat when times are
hard.
I'VE have just passed through another
of those terrible crises and are on. our way
to other years of wealth, vita this addi-
tional benefit, that the distribution Of
wealth when We reach il will he more
| even. well as more abundant, than ever
before. In 1S?3 We had as great a crash as
We had IN 1873; all the world went with
us, but for special causes had gone
further and 1t is for us longer way back.
IT 1892 We thought hard times had been
banished forever; We were sure that work
ard high pay were never more to be sepa-
rated. But We We're mistaken. Pride 60
| eth tefore destruction and a naughty spirit
before a fall. The election OF 1882 was a
| great misfortune. 1t may he We would
have had collapse then, no one can be
| quite sure. But If we had; in skilful
hands We should never have gone so far
| or suffered so much
More Than the sherman Law.
when the Sherman law was struggling
to be repealed. the democratic press, and
even some republicans told us that repeal
would be the final remedy, and business
would revive. / never shared that belief
| on the contrary. just three years ago to-
day, lacking two days, while i WAS con-
sorting with good democrats and hope TO
consort with the like in this campaign, i
took occasion, in the presence of three
thousand men, women and children, to de-
clare that the repeal of the Sherman law
WIS only one step in the onward march;
since then many bad things have happen
ed, plunging us deeper I'm the mire. In that
very discourse i told the democrats that j
did not expect the democratic party to be
| utterly bad But 1 had not at that time
the slightest idea what the Chicago con-
vention would do say In lS!G. since that
81 eech in 1893 we have had a severe lesson.
When the tariff act proposed by Mr.. Bryan
and his associates was presented In the
House IL certainly a great shock to
business interests of the country. Change
was radical, and men like Mr.. Bryan were
carried away with the possibilities of thei
own eloquencc that there seemed u,
possibilities to the limit of the evil
Now. i 10 not propose 10 charge dem