The record-union., 1896-09-24
Weather Forecast.
MENDACIOUS AND MEAN.

less affected. Generally capital is SEN
sitive; the disposition of owners Of
money out on security is, if there is
suspicion Of threat to reduce the value
Of the security to call in overdue
loans. That this should be so Is as nat
ural as it is for creditor to hasten to
attach property Of a failing debtor.
Such instances occur every day in
every community.
Some banks and loan societies that
have taken alarm at the doctrines of
the Bryanites, especially at the declar-
alton Of Mr.. Bryan himself that in the
event of his election and the adoption
OF the free coinage idea there will be
panic for time," have begun to call in
overdue loans. Because this is done the
supporters Of Mr.. Bryan Immediately
proceed to charge upon his opponents
that this haste to make safe is a polit-
ical trick; that it is intended to scare
voters into support Of Governor McKin-
ley. If that were the purpose it would
be silly and weak device, because so
easily exposed and made to do service
the other way.
Sensible people know that no such
tactics are employed by the Republi
can directors of Governor McKinley's
campaign. Such pressure upon debtors
has been more or less applied in every
season of doubt and tight times. It
happened in 1893, when there was no
political campaign. There were fore
closures then in great number, and no
little financial distress. It distinguished
the times in 1879, when the Government
resumed specie payment; some owners
of capital not having faith in that Act
proceeded to call in loans. It was one
of the earliest indications Of distress In
the unhappy year 1857, when the wild
cat money bubble of the West was on the
eve Of bursting. It happened during
the strike of 1894
Many and many a time has this thing
happened. That there should be eau
ton and preparation when the country
Is confronted with what hundreds of
thousands honestly believe to be the
threat Of revolution of the financial sys-
tenn is not only not surprising, but was
to have been expected. In fact it is
surprising that so little calling in has
been done, and that there have been no
notable bank failures, that Of the Mon
tana National Bank being the only one
Of Importance.
The fact is also that it is to the interest
of financial Institutions to prevent the
procedure of pressure; our history is
dotted all over with instances of these
concerns preventing panics by assisting
each other to carry debts due, instead
Of foreclosing and bringing on general
distress. Justice to American financial
history and the history Of banking in
stituttons demands that this fact should
be recalled to the memory of the peo-
pie.
II it comes to the question of injury,
banks, building and loan societies, saw
ings institutions and investment con-
Germs are always greater sufferers by
alarm cries and panics than are any
others. The injury does not stop with
the institutions themselves but extends
to the hundreds of thousands of poor
men and women, as well as those Of
comfortable means whose money these
concerns handle, and for whom landed
and personal securities have been taken.
OF course it serves the purposes of the
Bryanites, and the Populists especial
ly, to create the impression that they
are being prosecuted by moneyed insti-
tutions. 1t is an old game, this put
ting UP of a whimpering lip and outcry-
ing that someone is trying to bulldoze
the voters. Sensible people are not in
fiuenced by these cries. They know as
well as do the Bryanites that If there
are any screws being put upon debtors
on overdue bills. 1t is the natural Sc
quence Of carrying financial questions
to the polls, instead of relegating them
to the less alarming handling Of legis-
lation.
From now on we must expect to hear
all manner of stories about the oppo-
nents Of Mr.. Bryan attempting to CO.
cree people. All such can safely be
taken to be off Of the same bolt of cloth
with the ridiculous story that was cir
culated in this city last week, found it's
way into print in a Yolo paper and has
been taken upon the stump by Repub-
lican candidate for office, that a man
who came over from Woodland with
letters Of recommendation to the State
Board OF Agriculture in order to secure
employment at the fair, was told by the
board that unless he would agree to
support Bryan and SewalI he could have
no Job. Thereupon, it is related, the
man went back with his tale of woe,
and 1t was made campaign argument,
The fact is that nothing of the kind
ever took place. Every member of the
board denies 1t, and the fair officials
say that 1t is ridiculous, and that no
employe of the board was ever yet
asked, as a condition precedent to en-
ployment, or thereafter. what was his
political faith.
The idiocy of the local story Is en-
phasized by the fact that there is but
one free suverfte on the State Board of
Agriculture, though on old party lines
the board divides between the Demo-
cratic and Republican parties about as
other boards do. All these yarns about
creditors and employers bulldozing