The San Francisco call., 1896-08-26
TOM REED
ON GUARD
Defines Republican Doctrine
at the Rally in
Maine.
CAUSE OF PROSPERITY
OUTLINED.
1t is the Confidence of the Peo.
pie in Conditions of
the Future.
DEFICIENCIES SPEAK LOUDER
THAN BRYAN.
In Protection Policy Only, Says the
Maine Statesman, Can the
People Prosper.
DEFICIENCIES SPEAK LOUDER
THAN BRYAN.

OLD ORCHARD, Me-, Aug. 25.-Hon.
Thoma as B. Reed was the central figure at
the great Republican mass-meeting this
afternoon. The speaker was in fine form
and his points were received with great
applause. He said:
What seemed the great primeval curse, that
in the sweat of his face should man eat bread
has been found in the wider view of the great
cycles of the Almighty to be the foundation Of
all sound hope, all progress and all permanent
power. Man no longer shuns labor as his
deadliest foe, but welcomes it as his dearest
friend. Nations no longer dream of riches as
the spoils of war, but as the fruits of human
energy directed by wise laws and encouraged
by peace and good will. Battlements and forts
and castles, armies and navies are, day by day,
less and less the engine of slaughter and more
and more the guarantee of peace and honor.
What the world longs for now is not the
pagean try and devastation of war for the ag-
grandizement of the few, but the full utiliza-
ton of human energy for the benefit of all
mankind To the rs, 600, 900 people which make
up the Great Republic, the opportunity to labor
means more than to all the world besides.
1t means the development of resources greatly
beyond the comprehension of any mortal and
diffusion among all of riches to which the
glories of the Arabian Nights are but
the glitter of the pawnshop, and to
which the sheen of all the jewels of
this earth are but the glimmer of the glow
worm in the pallor of the dawn. But each
individual man is weak and powerless. Only
by combination. each with the other can
good results be had No more striking proof
of this can anywhere be found than in that
complex union of men which makes up the
modern nations and modern enterprises. The
nature of man Graves also liberty and indi-
yidualIty. Modern union and the complex,
-
ciety has drawbacks and sorrows which are
completely its own. The sachems of New Eng
land lad no. financial troubles, no strikes.
The currency question was simple string of
wampum. In Central Africa to-day banks
never break, checks are never dishonored, for
neither banks nor checks are needed tor their
kind of prosperity. Before the factory system
rendered combinations of workmen needful
there was less discomfort, but also no progress,
and there was no sharing by the toiler of the
profits and the pleasures.
What are the causes of prosperity and what
are the causes of panic? Are they mysterious
things beyond the human ken? If you
analyze you will find that whatever the re-
mote causes and they are different every
time, the immediate cause of prosperity is the
confidence of all the people in each other and
in the situation in the future When the peo-
pie all work together, when they all have
faith in each other, then prosperity reigns.
After prosperity reigns for some time, longer
or shorter, men think that hard times are per-
manently done away with and get wild and
over prosperity sets in Then some wise
men-earlier than others to see that the
world cannot absorb all that is made, cannot
permanently support all the enterprises which
the over confidence of men has set in action
begin to doubt, to refuse discounts, to hoard
money and call a halt to speculation. Then
the .distrust spreads and hard times follow.
bles, and the process is slow. While we are
climbing out we suffer.
In 1920 England had one of those paroxysms
like the one we are passing through now.
Everything there had been prosperous for
long time. The hum of industry was heard sll
over the land. Mems eyes looked into each
other with trust and faith in all mankind.
Capital was accumulated IN legitimate busi-
ness, which Is the supplying of each others
wants Then accumulated capital, eager for
employment, burst the restraints of society
and speculation set in.
Companies were formed to do everything
under the sun and lend everybody money,
from the Czar of Russia to the King of the
Mosquito shore. Pretty soon, after slight
drain of gold, it occurred to some one to figure
up all of 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 universal distrust poured
over the land. For one day trade absolutely
ceased in London. Nobody would take any.
body's notes or buy anybody's securities
Where was the difference between England