Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1896-09-04
Republican Presidential Candidate
Takes a Bold and Manly Stand.

TX >YS >vS * * * * >VS>&
exigencies" demand prompt protective leg
islation which will avoid the accumula-
auate revenues for the expenses Of the
Government. This is manifestly the re-
duirement of duty. If elected President
Of the United States it will be my aim to
vigorously promote this object and give
that ample encouragement to the occu-
above all else is so imperatively demanded
at this Juncture of our national affairs.
Conditions In 1892.
In December, 1892. President Harri-
son sent his last message to Congress. 1t
was an able and exhaustive review of the
condition and resources of the country.
1t stated our situation so accurately that
! am sure it will not be amiss to recite
his 0tflcial and valuable testimony.
There has never been time in our
history" said he, "when work was so
abundant. or when wages were SO high,
whether measured by the currency in
which they are paid or by their power to
:uppiy the necessaries and comforts of
life. The general average of prices has
been such as to give to agriculture fair
participation in the general prosperity.
The new industrial plants established
since Oct. 8. 1890, and up to Oct. %, 1892,
number 34o; al and the extensions Of exist
ing plants. l0S. The new capital invest
ber of additional employees 37.2S5 Dur
ing the first six months of the present
calendar year 135 new factories were
built. of which 40 were cotton mills, 4S
knitting mills, 26 woolen mills, Is silk
mills, plush mills and linen mills. OF
the 40 cotton mills. u have been built in
the Southern States"
This fairly describes the happy condi-
tion of the country in December, 1892.
What has it been since and what is it
now!
Condition Eight Months Later.
The messages of President Cleveland
from the beginning of his second admins
iration to the present time abound with
descriptions of the deplorable industrial
and financial situation of the country.
While no resort to history or official state
ment is required to advise us of the pres
ent condition and that which has pre-
vailed during the last three years, ven
ture to quote from President Cleveland's
the Fifty-third Congress. which he had
called together i'll extraordinary session:
"Fhe existence of an alarming and extra
| ordinary business situation" said he, ''in-
volving the welfare and prosperity of our
people, has constrained me to call to-
s"ntatives in Congress. to the end that
through the wise and patriotic exercise
OF the legislative duties with which they
solely are charged the present evils may
be mitigated and dangers threatening the
future may be averted. Our unfortunate
toward events, nor of conditions related
to our natural resources. Nor is it trace
able to any of the afilictions which fre-
.luently check national growth and pros
pcrity. With plenteous crops, with abun-
lant promise of remunerative production
and manufacture. with unusual invitation
to safe investment and with satisfactory
assurances to business enterprises, sud-
denly financial distrust and fear have
| sprung up on every side. Numerous
moneyed institutions have suspended be-
cause abundant assets We're not availa-
BILE to meet the demands of frightened
| depositors. Surviving corporations and
individuals are content to keep in hand
the money they are usually anxious to
| .Oan and those engaged in legitimate busi-
ness are surprised to find that the Sc uri-
| ries they offer for loans though hereto
fore satisfactory, are no longer accepted.
Values supposed to be fixed are fast be-
coming conjectural and loss and failure
have invaded every branch of business"
Cause of the Change.
What startling and sudden change within
| the short period Of eight months, from De-
| cember, 1892, to August, 1903! What had
occurred? A change of administration; all
i
| trusted to the Democratic party, which was
\ committed against the protective policy that
had prevailed uninterruptedly for more than
thirty-two years and had brought unexam-
pied prosperity to the country, and firmly
pledged to Its complete overthrow and the
substitution Of tariff for revenue only.
tions in November. its effects were at once
| anticipated and felt We cannot close our
| eyes to those altered conditions. nor would
It be wise to exclude from contemplation and
4 investigation the causes which produced
them. They are facts which we cannot as II
people disregard, and we can only hope to
improve our present condition BY By, study Of
the same volume Of currency that we have
now. 1t aggregated in 1892. $2.S72, 500, sol !;
in 1893. s2.s23, 1000 600; In 1894. s2 ses. .412,
The per capita Of money has been practically
the same during this whole period. The quail
lty Of the money has been identical-all kept
with our money. therefore, to account for
this sudden and aggravated Industrial
change. Whatever Is to be deprecated in our
financial system, 1t must everywhere be nd
mltted TINT our money has been absolutely
good and has brought neither loss nor incon-
venlence to its holders. deprecated cur
rency has not existed to further ycx the trOu-
bled business situation.
Good Money and Hard Times.
1t Is q mere pretense to attribute the hard
times to the fact that all our currency is on
a gold basis Good money never made times
hard. Those who assert that our present In
dustrial and financial depression is the re-
suit Of the gold standard have not read
American history Alright or been careful stu
dents Of the events Of recent years. We
never had greater prosperity in this country
in every field of employment and industry
than In the busy years from 1880 to 1882,
during all of which time this country was on
gold basis and employed more gold money
in Its fiscal and business operations than
ever before. We had, too, a protective tariff
under which ample revenues were collected
for the Government and an accumulating sur
plus which was constantly 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 already have Mt work.
when money is employed men nrc employed.
Both have always been steadily and relnu,
protective tariff legislation. When those
who have money lack confidence In the sta
bility Of values and Investments they will
not part with their money. Business is stag
nated-the life blood Of trade Is checked and
congested. We cannot restore public c0nfl
dence by an act which would revolutionizt
all values or an act which entails deficiency
in the public revenues. We cannot inspire
confidence by advocating reputation Of
| practicinR dishonesty. We cannot restore