The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1896-09-11
HE SEES PROSPERITY.
REED PREDICTS A RETURN
OF GOOD TIMES.
All That We Need Is Confidence in the FL
nancial Integrity of Our Country and
OBSERVATION-DISCLOSURES the Contest is
Between Silver and Gold.

the Contest II
Between Silver and Gold.
CRAB ORCHARD, Me-, Aug. ee.-In
the presence Of several thousand PEG.
pie from all parts of this section of
Maine, Speaker Thomas Bracket
Reed opened the Republican cam
palgn here this afternoon with an ad-
dress which was received with great
enthusiasm. He said in part:
I'm 1925 England had one of those
paroxysms like the one we are pass
ing through now. Everything there
had been prosperous for IL long time.
The hum of industry was heard all
over the land. Mems eyes looked into
each other with trust and faith in all
mankind. Capital was accumulated
in legitimate business which is the
supply Of each others wants. Then
accumulated capital eager for en-
ployment, burst the restraints of So
ciety and speculation set in. Com
panies were formed to do everything
undo" the sun and lend everybody
money, from the car of Russia to the
king of the Mosquito shore.
Pretty soon after a slight drain Of
gold, 1t occurred to some one to
figure up all these contracts
and the astonished nation found that
England had agreed to lend more
money than there was in the world
twice over. Then the bubble burst.
merchants failed, banks broke, uni
versal d%istrust poured over the land.
For one day trade absolutely ceased
in London. Nobody would take any
body's note or buy anybody's %securi-
ties. Where was the difference be-
tween England prosperous and Eng
land at a standstill? 1t was all in the
change Of one word. Confidence was
prosperity. Distrust was ruin. Then
began the slow growth Of confidence
again which took years, but Eugland's
prosperity did not perish.
"ln u w country we have had
many such instances, many more than
| mean to mention, for history on
that subject IS as cheap and abundant
as wheat when times are hard. We
have just passed through another Of
those terrible crises ard are on our
way to other years OF wealth, with
this additional benefit, that the dis
tribution Of wealth, when we reach
1t, Will be more even as well as mora
abundant than ever before.
THE PANIC THREE YEARS AGO.
I'm 1898 we had as great a crash as
we had in 1873. All the world went
with us, but for special causes we
had gone further, and it is for us a
longer way back. In 1892 we thought
hard times had been banished %forever:
we were sure that work and high pay
were never more to be separated. But
we were mistaken. Pride goeth be-
fore destruction, and a naughty spirit
before a fall The election Of 1899
was a great misfortune. 1t may be
we would have had a collapse then
no n can be quite sure. But if we
had been in skillful hands we should
never have gone SO far or suffered so
much. When the Sherman law WA S
struggling to be repealed, the Demo-
cratic press, and vcn some Republic
ans, told us that repeal would be the
final remedy and business would re-
vive. l never shared that belief. On
the contrary, just three years ago to-
day, lacking two days, while l was
consorting with good Democrats-and
| hope to consort with the like in this
campaign-I took occasion, in the
presence Of 5000 men to declare that
the repeal of the Sherman law was
only n step in the onward march.
Since then many bad things have
happened, plunging US deeper and
deeper IN the mire. In that very dis
course l tod the Democrats hat I did
not expect the Democratic party to be
utterly bad but | had not at that
time the slightest idea VIVA the Chi
Gag convention would do or say in
1895.
We must restore confidence. How
can we restore confidence? First by
putting anarchy down and ali manner
Of disturbance. Peace and Il stable
government are the first necessity.
This is a borrowing and q lending
world. No amount Of denunciation
Of money lenders, no wild talk about
Wall street, which, by the way, is the
greatest money borrowers the world,
will ever put down that fact Enter
prises are carried on by the united
confidence Of men OF money
and men of brains. Bring this
thing home to yourselves and
then you will understand it. If Won
had money or any other capital
you had earned yourself or your faith
err had left you, or even if you had
won in the luck of the lottery, would
you let it out to anybody on earth
who was liable to give you back only
half of 1t and want to call it square?
If you were a business nan would you
make things on a gold basis and sell
them on credit to a people who were
trying to see If they could not pay
you on a silver basis?