Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1896-02-25

"AAOoAAOA oAAAO VAAUU W C9O U4C VIOuO'
le with the country. Suffice it to
say that it was none of the causes
ever given by the Republican
Party for the panic when it did
come. But we want to ask and
answer another question to wit:
What stopped the impending
panic? William A. Window then
secretary of the treasury bought,
or redeemed 500, 100000 of Un-
tied States bonds at large
premium, before they were due
and paid interest on these bonds
up to their maturity. For that
purpose he drained the treas ury
of every available dollar, to save
the country from the impending
panic. These $100,0O0,0O0 let
loose stopped the panic. The
passage of the Sherman law
doubling the monthly issue of
silver money and treasury notes
helped also great y to the restore
confidence. In fact both the
Sherman law and the Mckinley
bill was passed to tide the
country over the then breaking
financial crash. But the McKin-
ley law proved a failure in that it
did not furnish revenue enough
for the expenses of the govern
ment. And the Sherman law
was so interpreted by the.Secre
tary of the Treasury, Foster,
that it demonetized all our silver
money, made Sherman notes and
greenbacks redeemable in gold at
the option of the holder, instead
of in coin at the option of the
government as provided in the
law. Thus early in 1892, after
temporary effect of the Window
flood of money had subsidized, and
the true effect of the Mckinley
law was seen as to revenue, and
the unheard of proceeding of the
Treasury department in it's rul-
ing of refusing to use silver in
discharging the government S
coin obligations became thorough
]y understood the storm that was
threatening'in 1890 broke grad
ually for tb, and in the course of q
tWelve-month in all it's fury.
Even in 1892 the business barom-
eter was exceedingly low, and the
people repudiated the republican
party, and swept the democratic
party into power But there was
no help from that source, as the
republican policy was continued.
The treasury was empty from
lack OF revenue; the SD, 100000
Of money annually issued under
the Sherman law was stopped by
a com bination of gold cohorts of
both the old parties necessarily
increasing the ravages of the
panic, and the bond swindle was
inaugurated to still aggravate and
withdraw money from business
for investm ent III that much
coveted commodity United
States bonds. So here we are
with chaos on every side.
Does any body deny the above
stated facts? AS well might man
try to deny his own existence.
they are but events that have
happened under the observation
of us all. And yet men will try to
fool people by pretending that
all Of this panic was caused by
the democratic party coming into
power in1892; But that dodge is
played out. It is too ridiculous
for any body to believe. Decent
republicans don't pretend to offer
it now anymore. whatever they
may have done in the past. No,
even they. admit that the disease
lies deeper, is of long standing,
and inherent in the very nature
of our past economic and fiscal
policy, they now admit that even
the Nc Kinley bill and our money
system need thorough and fun
damental revision.
We are now waiting for the re.
publican congress to formulate
this fundamental reformation of
our tariff and money system.
Will therepublieans act? They are
OH trial for life'now. If they fail
to act - fail to act now, the people
will hurl them down, never to
rise again, and put in power men