The Portland daily press., 1896-07-24
CAN'T STAND 1T.
'.NIossback Democrat" Out for McKin-
ley.

J. H. Van Dorm of Cleveland, presi-
dent of the Van Dorm Iron Works of that
city, is life long Democrat and O. bust
ness man of large experience, but cannot
accept the Chicago annrohism. He says
to aE,eporter of the Cleveland Leader"
GAS a life long, middlo-of -the-road,
mossbaok Democrat. l am alarmed at the
situation and developments at Chicago.
The Democratic party, heretofore nat
ionel party, is now sectional; heretofore
standing for honest money and high cred
it, it now stands for depreoiaUed currency
and Republication. A party that has hereto
fore elevated as its acknowledgements, tried
and well known men, now stands for an
unknown quantity. 1t has previously
stood for principle, and now it stands
for sentiment. These results are not
the work of day, or of month, or &C.
cidental; if they were it would not be
alarming. The results at Chicago are
the results of years of misrepresentation
on the part of oranks, demagogues and
politicians, aided by the circumstances
of the present industrial situation and
the lack of the proper education of the
masses to the business interests of the
country.
The free silver humbug has gone I'M
challenged until it has captured the
Democratic party and imperiled the cred-
it of the country by its action at Chicago,
and I believe that unless campaign OF
education is inaugurated by the business
community and by the Republican party
quickly it win be everlastingly too late.
The great mass of Epeople. agriculturists
and industrialists are honest, but are evil
IDENTIFY not properly informed or the Chi
cago catastrophe would have been impos-
sible. The facts are that there is pre-.
vailing opinion among the masses that
the Eastern capitalists and bankers have
had great advantages and have pinohed
them in various ways for the last decade.
This feeling has developed rapidly, and
will continue to develop unless counter
acted sharply and at once.
The facts are that the bankers of the
East, drawing from the resources of an
enterprls1ng and economical people for
three hundred years, have established
system of credits heretofore unknown in
any nation or at any time. They have
loaned their money largely to the West
at from 31-2 to per cent, and the bottom
facts ara that when losses are taken out
not single Eastern state has realized
per cent on the capital loaned. The fur
Their facts are that the Western business
man and manufacturer who has borrowed
this money has made So where the loaner
has made 81, and there is not O oity in
the Union OF any Importance but has
been developed, and hardly manufac-
turing plant but has been enlarged by
this liberal system of credit.
AS a mechanic l always found that
the employer who had the best credit
was my best friend, and as manufac-
turerII have found that the capitalist
who loaned me money to meet sNiny pay
roll WAS every bit as essential as the
workman in the factory, and when bor-
rowed most employed most and made
most.
"The present industrial situation is
not caused by the money question 1t is
simply and solely a matter of over pro-
ducJion, andsthe future is certainly hope
full. The exports of the industrials are
being Largely increased, and If the present
money standard prevails and capital, en-
terprise, and labor stand together.sin ten
Years We Will ue tno lhrg6SG exporting
country on the earth and thu richest
and all will be well. If credit is strang-
led by Democratic success and the money
standard cheapened. expectation stops,
over production is more marked, and the
condition OF the laboring man and manu-
facturer is manifestly worse. Without
credit and Eastern money one half of the
mills will stop; the other half will be
fearfully crippled
tTTuder these conditions what ara Tho
Democrats to do? Are they to skulk or
form themselves into side show. I hope
not. The Republican party has shifted
to the Dem ocratio ideas on THE currency
question, which is the vital issue, and
for one will vote the Republican ticket,
and hope this action will largely prevail
in the ranks of Democracy"