The morning times., 1896-12-08
HOW TO
FORCE UP
VALUES.

conspicuous recon-
VALUES. mendation except as
TO the retirement OF
greenbacks Mr.. Cleveland seems barren
of ideas as 10 how to restore prosperity.
The business depression is not question
OF coed, bad or Indifferent money. The
retirement OF aereenbacks and an entire
change of our monetary system would
not stimulate trade. Nothing short of a
radical, aggressive policy can force the
millions boarded into circulation, nor
VIII change in the character of our
money make it any easier to borrow or
obtain We must adopt measure that
will increase values Will the weary
waggles Wilson tariff do it?
Argument is heard that banks will not
make loans because there is want Of pub
lie confidence. This is not true Money can
be freely borrowed at 8 per cent if good
security can be given, but now H. ~
business men are in a position 10 .vr
suitable collateral for financial accommo
dation? 1t is not a lack of either money
or confidence which stagnates business
The hard times are not the result of bank
ShylockiSm nor plutocratic domination.
The country is in an industrial and com
mercial qUagmire because both Congress
and our President are too much imbued
with partisa nship TO adopt a patriotic
policy and become our rescucrs. Plainly
it looks very much as if for that reason
we were inca pablc of self government, and
that history must repeat itself by placing
the government in the hands of an inli-
vi'iual competent to safely guide US out
Of our troubles without injury to class or
section. This has been the experience OF
every nation which has heretofore fallen
into adversely.
Briefly review the situation. For years
business has been on the decline. Values
have been shrinking, prices have fallen
and the army OF the unemployed has been
steadily increasing in number. Merchants
have seen their stocks diminish in value,
property owners have been forced to wit
ness the foreclosure of mortgages because
of an inability TO renew loans, and thou
sands OF mills and factories have been shut
down from lack of demand for their
products Hundreds OF thousands Of farm
acres have been allowed TO go to waste
because they were Improbable TO till,
and this general collapse Of prosperity has
been caused 10y the great decline in values
a source that will restore old-time conGi-
tons. The theory Of forcing up prices by
adopting free silver is wrong, because it
must lie done at the expense of panic
and an era OF bankruptcy Moreover, there
is no stability OF rade when there's finan-
cial initiation II is simply stuffing COM
mcrce with wind and the slightest alarm
punctures the seeming good times
Then how shall we force up values with
out disturbing financial conditions? 1t
must be done by horizontal increase II
tie tariff The prosperous days of the
decade of ls9O-1s9O can be restored in
no other way. Tariff tinkering has de
stroyed prices. and tariff readjustment
VIII Unlft them. A general advance Of
% per cent all along the tariff line will
add from ! 3 to 20 Fer cent to the value of
nearly everything in the United States.
1t would stimulate demand and revive
trade. The cost Of living would be in
creased, but that detriment would be more
than compensated by the greater employ
ment and higher wages.
1t may be urged that no one would be
inasrauch as the advance would be general.
But with the increase business men, farm
ers and all classes Of property own
ers would be enabled to borrow money
and save their holdings from loss that
is inevitable with many Of them unless
there is change for the better. The adj
vance OF the tariff might enrich manu-
facturers, but ii would be better to give
them the opportunity than to allow banks
toobstruct progress by boarding our money.
The country never yet suffered because our
business men We're prosperous. As for
revenuc-tax the products imported in
foreign vessels and through that policy
also build up our merchant marine and
control foreign commerce.