The Dalles times-mountaineer. [volume] (The Dalles, Or.) 1882-1904, 1896-08-29
WHAT rs THE CAUSE?

On the morning that William J.
Bryan arrived in New York to meet
the notification committee, Francis D.
Carley, president of the monetary
trust, addressed an open letter to the
candidate, warning him to stay away
from the metropolis of the nation. In
his open letter Mr.. Carley held out
the impression that no one has right
to address an audience in that great
city without first having obtained the
consent of the money leaders. First
he attempts to show that all business
depression has been caused by the
agitation of the theories which Bryan
advocates; then he goes on to explain
that there has been general depres-
sion Of business all over the world,
dating back to the failure of the Bar
rings in 1890. In his open letter to
Bryan, Cariey says:
"You come to a great city. Her eto-
fore it has been joyous and prosper
Gus city, but gloom has seized upon
every business circle and anxiety has
come to every home since you an
nounced your coming. We fear you.
We believe you represent the worst
elements in the country"
Had Mr.. Carley stopped here and
said nothing more, his warning might |
at least have had the semblance of con-
sistency, since it was an avowal that |
the agitation of the silver question had |
caused the unsettled condition of busi-
ness, but like all other hypocrites, in
his endeavor to make his argument
more impressive, he gave his whole
case away when he said:
s'We realize that we are in a period
of industrial depression. Those of us
who have spent our lives in finance
and in study of economic questions
know that this depression has been
that it fell alike upon
those countries which are On a gold
basis and upon those countries which
are on a silver basis; that periods of
and periods of depression
have followed each other through the
entire history of civilizations; that
,uch alterations arise from the effort
IT mankind to conquer nature and i'm
,rove his condition; that periods of de- j
'ression are brought about by natural !
;auses, and can only be overcome by a
more careful obedience of those laws" =
Here one OF the greatest financiers :
# the country, a representative of the =
most gigantic money-loaning concern =
n the nation, and 'true blue" re. =
ublican by the way, knocks two OF !
e most forcible arguments of the re-
ublican party in the head. For three
ears we have been told that the de- :,
ression in business was the result of :
be threat to establish free-trade ;,
olicy in this country, and now a firm :;
dyocate of the projection theory says h
he depression has been universal =
the world, so if his state s,
tents have any truth in them, the n
lea that the agitation OF the free.trade 8,
octrine in the United States is re- =,
,onsibIe for all this trouble is ex- :,
loded, for it is hardly reasonable, A.,
lat the adoption Of policy, which ia
le protectionists tell US would result Il,
benefit to the rest of the world, =,
used such widespread disaster In r.
'untries whose interests were to be an
lproved by the throwing open of our re
'rts to their commodities. 20
Later, we have been told that all this of
saster ts the result Of threat to na
sce the United States upon silver
sis, but this great finsncier, Mr.. is