The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-08-11
TIE MONEY QUESTION
And Its ruEltion In tho Present Cam-
paign- Causcz which Have t%onspired 60
lirins About tho Financial aud indn,-
trini Depression Tho "Urimr or'73."

And Its pUAiti0n Ia the Present Gang
paign- Causes which Have tonspired 60
lirins About tho Financial aud Indus
trint Depression Tho "Utimc or'73."
10 the Editor OF tho 1%ntclilgenccr.
Slis;-rhe silver question, aud It's at.
tttudc ns the dominating issue In the
present campaign, Is the all absorbing
topic Of conversation on MI sides. IT
Is on thu lips OF the laborcr. the farmer,
the merchant and the capitalist, and Il
Il well that II " so. Tor upon the deter.
mlnntlOn OF that iSSuc hangs II crisis In
the industrlaland commercial history OF
the people, nS well nS tho honor, and
crEdit OF the nation.
llnNlnB liau the pleasure OF meeting In
Chicago, 4 few days ago, U Representa-
tive Of the lntelllgrncer and OF talking
with him III the subject, | chccrfully
respond TO his invitation to contribute
something thereon to yonr paper.
While II Is not possible within the
limits OF u letter TO discuss ut length II
question Of such magnitude, and one
,.tat demands the closest APPLICATION to
ltS understanding, u plain and clear
statement Of son,A NJ itS most cOnSpiCu-
GUS features, and their application ut the
prrSent time. is calculated 10 DO more to
the purpose than n technical discussion
OF all the minutlde attached thereto.
Just now the country IL grooming un-
ice the most Frustrating md universal
financial and Industrial panic In It's his
tory. The days OF ~ to rs would be-
welcomed AZ prosperous us compared
with the Present. iidif our mills dr1
or running with hnlf a forcH, blsl-
ness establishments are being pressed
Ia the wall, and labor Is tramping tho
streets III search Of employment. These
nre facts which cannot be ~c0ntrauictel.
What are the causes OF suCh an unprp-
Cedcntcd condition Of affairs, ana what
the solution for it, bcttermrnt2 II IL Il
time when every American citizen
should Inquire fairly and diligently into
those causes, and with, the best light
that guides him, ~ In the polla In Mo-
rcmbCr aud place his individual stump
upon that policy, which IL for the honor
II welfare Of his country, aud the
btst Interest Of the people.
Four years ago the country was en-
jd,inS un"Namplrd prosperity. and for
q long period prior thereto. which pc
Rod Is conspicuous ns one OF Republic
can administration; nevertheless the
Northumberland Democrat will not I'D
So NAAAk ANtA lt'1k ~ bFl'lbuo VA III TIT
history of tho country was In any wise
due TO Republican policy. but maintains
TINT the panic or ~ was but the result
OF StrRininE the natural laws OF trade,
and was inevitable. Viewed In the most
lirerHl light, Il Is evident that thu
change NJ policy under which the coun-
try had 80 long done business was Ill
r"ctly responsible for the precipitation
of the panic.
For seventeen months after the cleo,
ton ar Cleveland and a Democratic con-
ErrSs In 1892. the American merchant
ana manufacturer was at sea to deter
mine how and MI what basis 90 do bHsi,
nefS The impartsr could not afford to
purchase quantities OF goods under n
high tartif with II possible loss OF TWEEN
~ or thirty per ccnt on account N a re-
ductina. The manufacturer would not
venture his capital in Increasing his pro-
duction. or Investing In new enterprises.
while til" possibility OF competition up
on another and uncertain basis confront
ed him. The uncertainty consequent
upon III entire change of policy was
mlnltestly sufficient to cause %stagnation
in business. and before matters could
adjust themselves Ia the change. so that
We might venture 20 do business under
a new regime, the question NJ our iinan-
clal hRsis h"Enn TO he ngitlted. Coins
Financial School. with its ~lallaclrs nnd
Misrepresentation Il thrust upon the
public. and as ffthe then unsteady and
lettering condttionSnt affairs was not
sufficient TO %satlate the desire OF the most
rnhid. we. with the rcst OF the world
were plunged into Il state Of doubt and
uncertainty nS to our national crcdic
and from that moment nf doubt and I'M
certainty the volume OF our working
capital has fallen nwny, money that
should I've circulating In III" channels OF
trade Is locked up, gilt edged securities
alone are accepted upon loans. foreign
capital upon which this country has
made such wonderful advancement in
III" development OF its marvellous re-
sources. il 10th to find Its way here. and
much that WE here has been recalled.
Those are some OF the conspicuous
reasons why we flnl QurselYes In our
present critical plight. The advOCate'of
free silver breaches that It IL all due
10 the characterization act or 1879, when
III" nation eimply asserted Itself as be-
Ing. and would continue to be. upun a
sound linGnC!ul basis, and which the Sill
vcrlte In his p~arS!0nRta bursts OF mis-
guided enthusiasm delights 20 designate,
the crime" Strange, is II not, that the
years succeeding the So-cnlled crime,
and especially tho thirteen years sub
Seqlent to the year 1879, when we re.
sumrd specie payments. which act In
spired all with renewed confidence,
should be marked as the most prosper
u the country had ever seen? So pros
porous, 81 that half the wages then
paid wculd fall as a blessing upon many
now, and Labor then felt safe in striking
for mOrp