The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1896-12-18


Those who regard this election as
a conclusive settlement of the ques-
ton at issue should recall the recent
political history of the United
States. The exact vote cannot be
given at the time this article is writ
ten, but it is so close that change
of less than 10000 votes, properly
distributed over several states,
would overcome the Republican ma
iority in the electoral college. The
vote was so nearly even in Ken
lucky, South Dakota and Wyoming
that change of 1000 votes either
way would change twenty electoral
votes. On the basis Of the electoral
vote, therefore, there is nothing to
guarantee permanence IN the vic
tory for the gold standard. But even
ii the Republican triumph was more
sweeping than the figures at present
indicate, it would not settle the next
campaign. In the past parties have
often recovered quickly from what
seemed overwhelming defeat. In
1872 Mr.. Greedy was defeated, and yet
in 1879 Mr.. Tilden was believed by
the Democrats to have been elected.
Mr.. Blaine was defeated in 1884, and
yet Mr.. Harrison was elected in 1888.
The Republican victory of 1888 was
quickly followed by the Democratic
victory of 1890, and the election of
Mr.. Cleveland two years later. The
election of President Cleveland by a
large majority in 1892 was followed
two years later by an enormous Re-
publican victory. The changes
which have taken place in the past
indicate the possibilities of the flu
ture. There is only one prophecy
which can be made with certainty
of fulflllment, and that is that the
American people will study a sub
iect until they understand it and
will then settle it. Changes of opin-
ion will go on until the best solution
of every question is found. Our
form of government is based upon
the theory that the people are capa-
BILE of self-government. This theory
is, in my judgment, well founded.
The people have both the intelli-
gence and the patriotism to sele ct
and to secure for themselves those
policies which are best. They are
now engaged in an effort to discover
and secure satisfactory financial
policy, and it would be a reflection
upon them to say that they would
permanently accept an unsatisfac-
tory policy. Experience plays an
important part in the settlement of
public questions. That financial
and industrial conditions are unsat-
isfactory at this time, no one denies.
The advocates of free coinage have
! insisted that these conditions are
largely due to the gold standard.
They insist that falling prices are
but an evidence that gold is rising,
and they assert that the rise in the
purchasing power of an ounce of
gold is due to legislation which has
increased the demand for gold. The
Republicans, on the other hand
| have blamed the Wilson bill for the
present hard times and have prom
ised to restore prosperity by opening
| the mills. The next four years will
determine whether the Republican
| promises can be fulfilled.
Agricultural Products.
In 1890, IN a report which accom-
panied his tariff bill, Mr.. Mckinley
said: THAT there is widespread de-
preston in this industry (agricul-
ture) to-day cannot be doubted
This admission was made after the
country had had thirty years of pro-
tective tariff. This depression in
agriculture is more widespread and
acute to-day, than it was six years
ago. In the same report Mr.. Nc.
Kinley said: This great industry
(agriculture) is foremost in magni-
tude and Importance in our country
Its success and prosperity are Vita
to the nation. No prosperity is pos
sible to other industries if agricul-
ture anguish" He was correct in
asserting that prosperity must begin
with the farm. The farmer has suf.
fered because the price of agricul.
tural products has fallen, while
taxes, debts and many other fixed
charges have not fallen in the same
proportion. His total income ha:
decreased, while bis necessary ex
penditures have stubbornly refused
to decrease, and he has been com
PEELED to economic in his living ex-
penses. The President-e recog
nized this fact in 1890, because be
said in the report above referred to
1--WE do not believe that our people
already suffering from low prices
can or will be satisfied with lepisla
ton which will result in lower
prices" In the late campaign th,
, laboring men have been told tina
} low prices are an advantage to them
while the farmers have been pointed
to the advantage of higher prices
} 1t is going to be very difficult for tn,
incoming administration to secure
: higher prices for the farmer anC
lower prices for the wage-earner. /
must be remembered also that tn,
= financiers have denounced as dishon
est any dollar which falls in pur
chasing power. Will the advocate
of gold standard try to raise price
and thus, according to their owl
: language, become regulators? Will
: they be willing to have debts pait
, with dollars which will buy les
} than the dollars borrowed? If, OF
, the other hand, the maintenance O
: the gold standard results in a con
, tinuation of low prices, or, as bi
metallists believe, in still lowe
) prices, then the condition of tn
r farmer will become worse than
has been in the years just past.
The Outlook.
If our opponents imagine that bi