The evening bulletin. [volume] (Maysville, Ky.) 1887-1905, 1896-08-29

dition which besets them. "The pubic
exigcncies" demand prompt protective
legislation, which will avoid the accumu-
lation of further debt by providing ade-
quate revenues for the expenses of the
government This is manifestly the re-
quirement of duty.
1t is essential that you should practi-
cally bear in mind that towards the pay
ment of debts there must be revenue that
to have revenue there must be taxes ; that
no taxes can be devised which are not
more or less inconvenient or unpleasant
that the intrinsic embarrassment in
separable from the selection of the
proper objects (Which is always choice of
ditficulties) ought to be decisive motive
for a candid construction of the govern
ment making 1t; and for spirit of &C
quiescence in the measures for obtaining
revenue which the public exigencies may
at any time dictate"
If elected president of the United States
1t will be my aim to vigorously promote
this object and give that ample encour-
agement to the occupation of the Amer
lean people, which, above all else, is so
imperatively demanded at this juncture
of our national affairs.
Our Condition in December, 1892.
In December 1892, President Harrison
sent his last message to congress. 1t was
an able and exhaustive review of the con-
dition and resources of the country IL
stated our situation so accurately that
am sure it will not be amiss To
recite his official and valuable testi-
mony. "There never has been a time
in our history" said he, 'when work was
so abundant or wages so high, whether
measured by the currency in which they
were paid or by their power to supply the
necessaries and comforts of life. The
general average of prices has been such as
TO give to agriculture fair participation
iYnf hn nralr hn ind
trial plants established since October g.
1890, and up to October %, 1892 number
S45, and the extensions of existing plants.
los. The new capital interested amounts
to $40, 4i6, 06l, and the number of addi-
tional employees 37,2S5. During the first
six months of the present calendar year
1876 factories were built, of which 40 were
cotton mills, As knitting mills, 26 wooden
mills, 10 silk mills, plush mills and 2
linen mills. OF the 40 cotton mills, 81
have been built in the southern states"
This fairly describes the happy condition
of the country in December, 1892 What
has it been since and what is it now?
Our Coalition Eight Months Later.
The messages of President Cleveland
from the beginning of the second admins
tration 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 past three years, l ven.
ture to quote from President Cleveland's
first message, August g. 1898, addressed to
the Firty-third congress, which he called
together in extraordinary session. THE
existence of an alarming and extraordi-
nary business sitIation," said he, in
volving the welfare and prosperity of all
our people, hos constrained me TO call to-
gether in extra session the peoples repre-
sentatives 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 avoided Our unfortunate
financial plight is not the result of I'M
toward events, or of conditions related to
our natural resources. Nor is it traceable
to any of the Affections which frequently
check national growth and prosperity.
With plenteous crops, with abundant
promise of remunerative productions and
manufacture, with unusual invitation TO
safe investment, and with satisfactory as
surances to business emf erprises suddenly
financial distrust and fear have sprung
up on every side. Numerous monied in
sLitutions have suspended, because abun-
danU assets were not Immediately availa-
BILE to meet the demands of frightened de-
positors. Surviving corporations and in
dividuals are content to keep the money
they are usually anxious TO loan, and
those engaged in Legitimate business are
surprised 10 find that the securities they
offer for loans, though heretofore satisfac-
tory, are no longer accepted. Values sup
posed to be fixed are fast becoming con-
jectural and loss and failure have invaded
every branch of business"
The Cause of the Change.
What a startling and sudden change
within the short npFlOd of EIGHT months
from December 1892, to August, 1882
What had occurredy a change of admin
istratiOn; all branches of the government
had been entrusted To the Democratic
party, which was committed against the
protective policy that had prevailed unin-
Ierluptedly for more than 81 years and
brought unexampled prosperity TO the
country and hrmly pledged otis complete
overthrow and the substitution of a tariff
for revenue only. The change having been
decreed by the elections in November It's
effects We're at once anticipated and felt
We can not close our eyes to these alter
ated conditions, nor would it be wise To
exclude from contemplation and investi
CATION the causes which produced them.
They are fac,s which we can not as a peo-
pie disregard and we can only hope TO inn
prove our present condition by IA study of
their causes. In December, 1892, we mad
the same currency and practically the
same volume of currency that we have
now. 1t aggregated in 1852 s2372, 500 sol;
in 1898 &, 1913 00O, 900; in 1894 e 1898 Az, 362
and in December 1895, 81, 1914 0OO, 23J. The
per capita of money, too, has been prac-
tically the same during this whole period.
The quality of the money has been iden.
tically kepc equal to gold. There is moth
ing connect. with our money, therefore,
to account for this sudden and aggravated
industrial change. Whatever is TO be
deprecated in our financial system it must
everywhere be admitted that our money
has been absolutely good and has brought
neither loss nor inconvenience to its hold
ers. A deprecated currency has not ex-
listed to further vex the troubled business
situation.
Good Money Never Made Times Hard.
1t Is mere pretense to attribute the
hard fimpS To the fncE TINT all nnr on l.