Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-06-09
Working the Panic

the goldbug democrats of the east are
holder in developing their plan of &C
ton. They are not demoralized. They
have more or less faith in the panic
scare. and if that fails u second con-
ventiou is talked of, which, in the
langlag of the Boston Herald, would
place the party in position to profit
by the reaction of 1900, due to the
business disasters and sutferings that
have been endured in the interval,
which will carry to gold standard
party and gold standard candidate
all of the popular support that is
needed to win an overwhelming vic
tory at the polls. 1t is this to which
the gold standard democrats should
turn their attention, even though in
following this course they are obliged
to bolt the regular convention of
their party"
The calamity bowler" has changed
his location. He no longer completes
with the zephyrs of Colorado and
Wyoming or the cyclones of Kansas
Nebraska and Missouri. His new
abode is near the storm-kissed beach
of the Atlantic-within hailing dis
lance of the London market, from
which, in the present emergency, he
draws inspiration. He needs a panic
to head off the cohorts of the West
and South, and London can furnish
the article, with the assistance OF
Wall street, at moments not ice.
The Washingt on special of the Bos
ton Herald, drawing his clues from
last weeks visit at the White House
by Chairman Harrity of the Demo-
cratic national committee, throws
further light upon the panic pro-
gramme, which will be vigilantly
worked upon tlmid delegates at St.
Louis and Chicago. In recent dis
patch he says:
Friends of the administration feel
that the stamp Of regularity upon a
sound money candidate at Chicago
: would do much to avert the panic
r which they fear in case either of the
l regular conventions should declare
= for silver. While the gold exports
which are now taking place, and
which amounted to 81, 100000 to-day,
= are of u more or less normal char
/ acter at this time of year, it is feared
! that they would increase to alarming
9 proportions if the national democratic
: party, through its constituted organs
q should declare in favor of the silver
o standard. Such declaration by q
# set of boilers would have much les
q weight as it would be understood
that both the great parties wer'
!, sound. II is felt, from this point O
view, that sound money democrat
a are doing as much for the next Re
Il publican president and the countr!
!. as for their own party in endeavor
\ ing to secure q sound money plat
!, form, as it is feared that the adop
q ton of an unsound one, especially
a there should ;,e any weakness in tn
r republican platform, would brinl
it InSsee.eos reiuinS upon tho HTew Horl
k stock exchange ordering the sale Q
q securities held on foreign account, a 4,
v that the gold reserve would rapidly
e dwindle. The reserve today had fal
# len to $10S, 249,27S, and, at the presen
v rate of loss, it will be lowering abou
v 800, 100000 when the republican con
# vention meets at st. Louis. The ne
i cessity of carrying the countr
" through the elections without wors
$ panic than that of 1898 will be urge
,e by sound money men both at s.
se Louis and Chicago, as d decisive ret
v son for the adoption of gold STAND
% ard platform"
Is The alliance between the admin
a. stration and the Republican part
x has been too patent for the last fou
20 years to be used at this date as tn
70 grand transformation scene" in til
st political drama of 1896. Carlisle, /
,e his management of the treasury, he
az been a faithful exponent of the She
man method of forcing the gol
standard on this country by stead
Sho ocOeIioi1J ouOpS, tdhSd III lllc udL
= of sound money and in open disr
- gard to the will of the people as e,
- pressed in congress and in the pla
~ forms of majority of the states. Tt
soundness of this plan, commenced
1878 and continued in the compromis
7" acts of 1878 and 1890, is about to (
- tested in national campaign. tt
=. people have called for u previol
20 question ard covert threats of
~ Wall street panic will not turn the
-, from their purpose. Better a pan
VIC for three months, with the damag
20 confined to the Atlantic coast, thu
W death by inches to the industries
~ ~ nine-tenths of the country, which
~ the legitimate effect of dear money
~ measured by loss of value in g
other forms of wealth.-Rocky Mou
w tain News.
vn
ID