The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-08-27

situation" said he. Involving the wei
fare OF all our people. has constrained
mr. 80 call together in extra session the
peoples representatives in Congress to
the end that through the wise and patri-
0tic exercise Of the legislative dulles
with which they solely are charged, the
present evils may be mitIGated and dam
gers threatening the future may be
avcrtcd. This unfortunate financial
plight IL not the result OF untoward
events. nor or conditions related to our
national resources. Nor is It traceable
TO any OF the affiliations which frequent
ly check national growth and prosperity.
With pl-nteOus crops, with abundant
promise OF remuneratlve production and
manufacture, with unusual invitation
TO business Investment, md with salts
factory assurances TO business enter
priseS. sudden financial d!strust and fear
have sprung up on every side. Numer-
Gus monted institutions have suspended.
because abundant assets were not imme-
diately available to meet the demands
of frightened depositor1 Surviving
corporations and individuals are con-
tent TO KEEP In hand the money they are
usually anxious TO loan. and. there en-
gagged In legitimate business are sur
priSed 10 find that the securities they
offer for loans, though heretofore salts
factory, are no longer accepted. Values
supposed 10 be fixed are fast becoming
coniectural and loss and failure have In
vaded every departure OF business.
The CaHs, OF the Change.
What startling and sudden change
within the short period OF eight months
from December. 1892, to August, 1891!
What had occurred? A change OF ad-
ministration: all branches OF the govern
mant had been entrusted 10 the Demo-
cratic party. which had committed
against the protective policy that had
prevailed un!nterruptedly for more. than
thirty-two years. and brought unGxam-
pied prosperity 10 tho country. ard firm.
~ pledged to It's complete overthrow and
the substitution or a tariff for revenue
only.
The change having been decreed by
the elections in November. Its effects
were at once anticipated and felt. We
cannot close our eyes to these altered
conditions. nor would Il be wise 10 eN-
clude from contemplation ana Anvestt-
CATION the causes which produced
them. They are facts which We cannot
rs people disregard, and we can only
hope to. Improve our present condition
by a study OF their causes. In Dccem-
bor. 1892. We had the same currency
and practically the same volume Of
currency that we have now. There was
nothing connected with our money,
therefore, TO account for this sudden
and aggravated Industrial change.
Whatever Is 20 be deprecated In our
financial system Il must be everywhere
admitted that our money has been abb
solutely good, and has brought neither
loss nor inconvenience to Its holders.
A deprecated currency has not existed
to further vcX the troubled business
situation.
II IL 4 mere prstcnsc to attribute the
hard times 10 the fact that all our cur
rcncy is on y gold basis. Good money
never made times hard. Those who as
sert that our present industrial and
financial depression Is the result OF the
gold standard. have not read American
history Alright. or been care
full students OF the events or
recent years. We never had greater
prosperity in this country In every
field of employment and industry than
In the busy years from 1880 10 1892,
during all OF which time this country
was on gold basis and employed
more gold money in Its fiscal and bust
ness operations than ever before. We
had, too, n protective tariff under
which ample revenues were collected
FOR the government and an accumulu-
ting surplus which was. conveniently
applied TO the payment of the public
debt. Let us hold fast to what We
know Is good. II Is not more money
we want: what we want Is to put the
money we already have at work. When
money is employed. men are employed.
Both have always been steadily and
remunGratIvcly engaged during all the
years OF protective tariff legislation.
The Tariff or 1894.
The only measure OF Il general nature
that effected the treasury and the en-
ploymnts OF our people passed by the
iifty-thIrd Congress was the general
tariff act, which did not receive III, ap-
proval OF the President Whatever vlr-
tues may hc claimed for that net there
Is ConfcssCdly one which II docs not
poSsnsS. IL lacks the essential virtue
OF It's Crcation-thc raising OF revenue
sufficiently to supply the needs OF the
government. II has at no time provId-
ed enough revenue FOR such needs, but
It has caused constant deficiency In
the treasury and a steady depletion In
the earnings OF labor and land. II has
contributed Ia swell our national debt
more than f262.OOO.O0O. sum nearly as
great NJ the debt OF the government
from Washington TO Lincoln. Including
nll our foreign wars from the revolution
to the rebellion. Since It's pOssaEc, work
at home has been diminished. prices Of
agricultural products 1--we fallen; con-
iid"ncc has been arrculCd and general
huslnCEg decentralization Is UcCn OIL cv-
cry hand.
The irRt duty OF the Republican
party IL restored TO power In the coun-
try will be the enactment OF tariff