Pine Bluff daily graphic., 1896-08-28
The Cause of the Change.


 What startling and sudden change within the short period of eight months from December. 1899 to Aug 1898 What had occurredy A change of administra- tiou. All branches of the government had been entrusted to the Democratic party which was committed against the protec- tive policy that had prevailed uninterrupt- ed for more than a2 years and brought un- exampled prosperity to the country and firmly pledged to it's complete overthrow and the substitution of q tariff for revenue only. The change having been decreed by the elections of November its effects were at once anticipated and felt We cannot close our eyes to these altered conditions, nor would it be wise to exclude from con temptation an investigation of the causes which produced them. They are facts which we cannot as a people disregard, and we can only hope to improve our pres ent condition by study of its causes In December, 1899, we had the same currency and practically the same volume of cur rency that we have now. It aggregated in 1892 g. 372, 599. SOL in 1893, s 232 900, 900; in 1894, s2. 234, AZ, ,362; and in December, 1895, 8, ,194 100000. The per capita of money too, has been practically the same during the whole period, The quality of the money has been dentical-all kept equal to gold. There Is nothing connected with our money therefore to account for this sudden and aggravated industrial change. Whatever is to be deprecated in our financial system, it must everywhere be admitted that our money has been ab- solutely good and has brought neither loss nor inconvenience to it's holders, A de- preciated currency has not existed to fur ther vex the troubled business situation. Good Money Never Made Times Hard.
 It is a mere pretence to attribute the hard times to the fact that all currency is on
 l l.a-a T hard. Those who assert that our present industrial and financial depression is the result of the gold standard have not read American history aright, or by careful students of the events of recents events. We never had greater prosperity in this country, in every field of employment and industry than in the busy years from 1880 to 1892, during all of which time this coun- try was on gold basis and employed more money in it's fiscal and business operations than ever before. We had, too, a protect i've tariff under which ample revenues were collected for the government and ae- cumulating surplus which was con stantly applied to the payment of the public debt. Let us hold fast to that which we know is good. 1t is not more money we want. what we want Is to put the money we al1eady have at work. When money is employed men are em- ployed Both have always been steadily and 
 years of protective tariff legislation. When those who have money lack confidence i'll the ability of values and investments they will not part with their money. Business is stagnated 1.-the lifeblood of trade is checked and congested. We cannot re- store public confidence by an act which would revolutionize all values, or an act which entails a deficiency in the public revenues. We cannot inspire confidence by advocating repudiation or practicing dishonesty. We cannot restore confidence either to the treasury or to the people without change in our present tariff leg islation.
 The Tariff of 1894.
 The only measure of general nature that affected the treasury and the employ ment of our people passed by the Fifty third congress was the general tariff act, which did not receive the approval of the president. Whatever virtues may be claimed for that act there is confessedly one which it does not possess. It lacks the essential virtue of it's creation-the raising of revenue sufficient to supply the needs of the government, It has at no time pro