Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1896-07-07

Deen used by certain politicians and
free-trade papers to create financial
panic, for the purpose of defeating the
nomination of Mr.. Mckinley. has been
taken with too much uneasiness. No
doubt the threat was made in the heat
OF anger and disappointment. But
when it's effect is analysed it appears
ridiculous.
In the first place it must be remem-
bered that all this talk against Mr..
Mckinley originates. and exists, only
in the columns of a few free-trade
newspapers and in the minds of hand
full of disgruntled republicans. The
latter will recover, so we need not wor-
ry further about them. AS to the free
trade papers. ii is we'll known that they
are simply trying to divert attention
from the ignominious muddle that ex-
lists in their own party. Therein they
have been successful 1t is only nee
essary to turn back to the files of these
very papers of 1892 to refresh our mem
cries upon all the wonderful good
things they promised the people in the
event of the election of a complete
Democratic administration
Then their fight was for the repeal
of the Mckinley tariff, concerning
which they printed falsehood after
falsehood They promised cheaper
goods, more work, higher wages and
lower taxes. These alluring bats car
ried the people. The authority asked
for was given to the Democratic party.
The Mckinley tariff was repealed and
the Wilson monstrosity has reigned in
it's stead. But with what results? 1t
is true that the prices of farm products
have been cheapened. but there has
been less work for the people, lower
wages and higher taxes. The national
revenue has been in sore straits as
we'll as the revenue of the individual.
The very character of the tariff bill
passed by the Democrats differed so
widely from the kind of measure that
had been promised that it was stigma
tized as party perfidy and party dis
honor" by the Democratic president
and as ''rag-bag production" by the
Democratic senator, Mr.. Hill, OF New
press dare not face a discussion of the
tariff question, so it is now occupied
in reviling the most prominent candi-
date for the Republican presidential
nomination because ii knows that his
election will eradicate every free-trade
idea from the country during the pres
ent generation.
The Democratic threat to create a
financial panic is deliberate act Of
cowardice. That il was ever seriously
sustained by one solitary bank presi-
dent. be he Republican or Democrat,
we can hardly credit Who would be
the greatest sufferers by financial
panic? The bankers themselves. Bank
presidents are merely salaried officers
appointed to manage a banks finances.
These finances consist of the money OF
the stockholders and depositors. An at
tempt to create panic would be de-
liberate mismanagement of the trust
reposed in president and it would
very speedily result in his dismissal.
No bank president would ever be per-
mitted, by majority of his board of
directors. to play ducks and brakes
with their money or with that of the
depositors 1t would be a criminal act,
meriting the severest punishment. and
any Democratic paper that lends itself
thereto is particeps criminis, and NOR
ally, If not legally, guilty
If bank presidents. bank directors
and bank stockholders will carefully
consider the condition of their banks
when the Mckinley tariff was in force,
and compare ii with their business to-
day. we have no hesitation in saying
that the unanimous verdict will be that
a restoration of the Mckinley era of
prosperity is very much to be desired.
The financial situation calls upon
bankers TO support the nomination OF
Mr.. Mckinley, not to allow spleen and
bad judgment to control their more
mature business judgment. Bankers
have large sums of money to lend, not
to keep idle, and they know that they
now have a plethora of idle money for
which there is no demand In 1892,
on September 80. the national banks of
the United States had s., 153, 498, 1929 of
money out on loan and discount that
was earning interest. This year, on
February 2S, their loans and discounts
amounted only to 1851 ,344.78 or
$500, 900. 900 less than in the Mckinley
tariff year. The earnings and profits
OF the national banks cannot be as sat
isfactory as they were in 1892, and
they are even less satisfactory to-day
than they were last February. Why?
Because manufacturers are borrowers,
and more OF our industries are idle ow-
ing to the Democratic tariff.
In 1892, on September 30, before the
election of complete Democratic adj
ministration, the amount of money on
deposit in the national banks OF the
United States was 5000, 500, 900. This
year, on February %, 1t was only
$1,64S, O92 1859, or s375.0OO,0OO less than
in the Mckinley tariff year. With so
much less money at their disposal the