Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1896-09-02

tioral affairs.
ouR CONDITION IN pEcENHsR isos
In Dccempcr 49, President Harrison sen. his
last inc S>agsi 10 congress IL was able ana cN-
ha2Slive review 90 the condition and resources
Curatcly that an sure Il Will net bc srs,i~S 10
recite his oneial and valuable teSiimouy
There never has been a time in our hi>tCry.''
said he. when work was 80 abundant OF Unen
wages were so high. whether measured bv the
currency In WI zen they are paid or by their
power 10 suppl the necesSaries and com, or;s
OF lie. The gcu eral average OF prices has been
zion in the ene,,i rnsrr, FAR par,ieipa-
trial plants esta blished since October q 1920
and up to octooes - ises, number as. and the
extensions OF existing plants iJs The new
cap tal invested amounts 10 so s4g.O 5o and the
number OF additio, al employees n ~ During
year iSS new factories were 6uii, Of which az
were cotton mills. - knitting mills Is woolen
mills. 10 silk mills four plush mills and two
linen mills OF the 10 cotton mills n have been
built in southern states " This fairly describes
IN, the happy condition OF the country in Decem-
IL now
our CONDITION FIGHT MONTHS LATER.
The messages OF president Cleveland from
the beginning OF his second administration TO
inc present timo abound with descriptions OF
ton OF the country. While no resort To history
OF Official statement iss required to advise us OF
the present condition ard that which has pre-
vailed during the past three years venture 10
quote from President ClcVeland'S first mes
SAKE august sIsy5, ado reSSed TO the Fifty third
CONGRESS which he had called together in ex-
traordinary session. The existence OF an
alarming and extraor binary business situa-
ton. said he "involvi ug the welfare and proS-
perity OF all our people. has constrained me To
can together in extra = sssion the peoples rep
rssentatiNeS In congress To the end that
through the wise and patriotic exercise of the
legislative duties will which they SOLELY are
charged the present evils may bc mitiSat"d
and dangers threaten ing the future may he
averted our unfortu nate financial Might ia
not the result of untoward events nor OF CON
ditions related 10 our natural resources Nor
| Il IL traccable To amy OF the nffiictIons
which frequently check national growth and
nru~partfN- .s,R..
/ ant promise OF remu aerative production and
| manufacture. with u nusual invitation to safe
10 business enterprise = suddenly financial dis
| trust and fear have sprung up on every side
Numerous monied institutions have suspended
because abundant ass cts were not immeiiateI,'
available to meet the demands of frightened
Ieposltors- Survivirg corporations and indi-
NluualS are content u keep in hand the money
! they are usually anNt Gus TO loan and those on
gaged IN legitimate business are surprised To
hhd that the securities they oncr for loans
though heretofore satisfactory. are no LONGER
accepted Values supposed TO be liked are
fast becoming conieo tural and loss and failure
have invaded every branch OF business
THE CAUSE or THE CHANGE
what q startling and sudden change within
the short period OF clght months from Dcrer,
| Der. 1892. 10 August isgSi WHAT he'd occurrcds
A change OF admi nistration: ali br,,ncb,. ",
the government n al been entrusted 10 the
democratic party. which wal committe d aVninSt
the protective policy that had prevailed unin-
unexampled prosperity to the country ana
firmly pledged To Is complete overthrow and
The change having been decrced by the eicS-
tons IN November It's effects were at once an
TO these altered conditions nor would il ~,
wise To exclude from concentration and in
vesteation the causes which produced them
Ihey are facts which We can not as a people
disregard, and we only hope to in,prove
our present condition by "A study of their
causes. In December, 1872. we had the same
currency and practically the same volume OF
currency that we have now. IL aggregated I'm
lss est a90 sol; In 1898 e. S2J OOJ; In Isp,
s2,3SS t,2.s6.; and in December 1906 ~ 1874 600
80. The per capita OF money too has becn
practically the same during this whole ncriod
Inc quality OF the money has been Identical
all kept equal To gold There IL nothing CON
nected with our money. therefore to accoun,
change. Whatever is TO be deprecated in our M
financial system. IL must everywhere be adj
good and has entailed neither loss nor incony
venience to its holders A deprecated cur
rency has not existed TO further yex the
troubled business situation
GOOD MONEY NEVER MADE TIMES HARD
~ Is mere pretense to attribute the hard
times TO the fact That all our currency is on a
gold basis Good money never made times
hard- THOSE who assert that our present in
uustrlal ana nnaucial depression Is the result
Di the gold standard haV not read American
history Alright, or been careful students OF the
events OF recent years We never had yrenter
prosperity in this country in every neld OF cum
ployment and Industry. than in tho busv vears
from 1850 to 1872 during all OF which limo tbis
country was on "A gold basis ana empIovci
more gold money in its fiscal and business on
crations than ever before. We had too "A pro
collected for the government and an accumu-
lating surplus which was constantly applied TO
TIE payment OF the public debt Let us hold
fast to that which we know Is good IL is NOT
more money we want; what we want is to uut
the money we already have At work When
money Is employed. men are employed Botn
nave always been steadily and remuneratiyely
,hgaEed curing al the years OF protective
taTin legislation. When those who have money
lack confidence in the stability OF va lues and in
yestmcnts they will not part with their money
business Is stngnated-the life blood of trade
Is checked and congested. We cannot restore
pubic confidence by an act which would reyo-
luticnize all values. or an act which entails n
deficiency IN public revenues. We cannot in
spiro confidence by advocating Reputation or
practicing dishonesty. we cunnot restore Co.. ~.
hdence. either to the treasury or to the people
ton.
THE TARIFF or 1894
The only measure OF general nature that
affected tho treasury and the employments OF
our people passed by the Fifty-third congress
was the general tariff act which did not re-
ccive the approval OF the president. What
ever virtues may be claimed for that act there
IL lacks the essential virtue Of its creation
the raising OF revenue sufficient TO supply the
hecds OF the government II has at no time
provided enough revenue for such needs but IL
mas caused constant deficiency in the treas
ury and u steady depletion In the earnings Of
labor and land. IL has contributed to swell our
national debt more than f2G2 900 900 a sum
nearly great as the debt OF the Government
from washington and Lincoln. including All
our foreign wars from the revolution TO the re-
DeiAon since Us passage. work at home has
ucts have fallen: confidence has been arrested
ana general business decentralization Is seen on
every hand.
THE TARIFFS or 1890 AND 1891 CoNTRAsTED
the total receipts under the tarin act of 1891
.or the hrst twenty-five months OF its enforce
ment. from September. 1891. TO June 1888 were
A516i".j-s. and the expenditures 800 rs 30,
or a deficiency OF S2.Si3.OJ The decrease in
our exports OF American products and manu-.
Iactures during the first fifteen months Of the
resent tarin. as cOntrasted with the exports
OF the hrst hfteen months Of che tariff Of 1890
WIS t22D,3 3.a2L The exccss Of exports over
Imports during the first fifteen months OF the
taTin OF 1870 was s2I5952 PCS but only ESQ 75s-
% under the first fifteen months OF the tarin
OF 1921. loss under the latter OF si57 ia AZ
Y he net loss In the trade balance Of the u nited
states has boon 1896. g-3 JJ7 during the first
hfteen months operation OF the tarin OF 1874
as compared with the first fifteen months u
the tarin Of 1890 The loss has been large con-
slant and steady, NJ the rate 81 s11 $4,000 per
month, OF sJOOOOO for every business day OF the
gar
LOSING IN BOTH DIRECTIONS
We have either been sending TOO much money
cut OF the country or getting too little in or
BON We have lost steadily Ia both direc-
lions Our foreign trade has been diminished
and our domestic trade has suffered incalcula-
Die loss Does not this suggest the cause OF
our present depression and indicate It's rene
dyf Confidence in home enterprises has al
most wholly disappeared. our shops are
closed. or running on half time az reduced
wages and small profit n not actual loss our
men abroad are occupied in supplying US with
goods Our unrivaled home market for the
farmer has also greatly suffered because those
VINO constitute it- the great army Of American