Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1896-09-12


were built, of which 10 were cotton mills
As knitting mills, 26 wooden mills, Is silk
the forty cotton mills. twenty-one have
been built in the Southern states This
fairly describes the happy . condition of the
been since. and what is it now?
Eight Month. Later.
''The messages of President Cleveland
from the beginning of his second admin |
istration to the present time abound with |
descriptions of the deplorable industrial |
and financial situation of the country |
While no rescrt to history official state |
ment is required to advise of the present
condition and that which has prevailed
during the past three years, 1 venture to
quote from President Cleveland's first
Fifty-third congress. which he had called
together in extraordinary session. The
existence of alarming and extraordinary
business situation said he. involving the
welfare and prosperity of all our people,
has constrained to call together IN
extra session the peoples representatives
in congress. to the end that through the
wise and patriotic exercise of the legisla-
tive duties with which they solely are
charged, the present evils may be miti-
gated and dangers threatening the future
may be averted. Our unfortunate financial
plight is rot the result of untoward events,
nor of conditions related to our natural re
sources. Nor is it traceable to any of the
Affections which frequently check national
growth and prosperity With p!enteous
erative production and manufacture, with
unusual Invitation to safe investment, ana
| with satisfactory assurances to business
enterprises. suddenly financial distrust and
| fear have sprung up every side Numer-
GUS moneyed institutions have suspended
/ because abundant assets were not lmme-
diately available to meet the demands OF
frightened depostors. Surviving corpora
| tions and individuals are content to keep
| IN hand the money they are usually
| anxious to loan, and those engaged IN
| business
| that the securities they offer for loans,
! though heretofore satisfactory, are no
| longer accepted. Values supposed to be
| fixed fast becoming conjectural and
| loss and failure have invaded every branch
! &C business
| Startling and Sudden Change.
| what a startling and sudden charge
| within the short period of eiga. months.
| from December. 1892, to Aus:e-, 1893
| What had occurred? A change of ad-
ministration; all branches of the govern
ment had been entrusted to the Democratic
party which was committed against the
protective policy that had prevailed unln-
terruptedly for more than thirty-two years
and brought .unexampled prosperity to the
country and firmly pledged to its complete
overthrow and the substitution of tariff
for revenue only. The change having
been decreed by the elections in November.
its effects were at once anticipated and felt-
We cannot close our eyes to these alter
| ed conditions, would it be wise to
exclude from contemplation and inVesusa-
ton the causes which produced them They
are facts which cannot. as a people
| disregard, and can only hope TO I'M
| prove present condition by study
of their causes. In December, lS92- we
had the same currency aud practfcathg tne
same volume of currency that we nave
now. 1t aggregated in 1892 $2,372, 800, ool
in 1893 81, 323, 900, OOO in 1894 S2,323, AZ go
: and in December, 1895. 81, 194. OoO, go: Inc
per capita of money has been practiGaiS
the same during this whole period Ins
: quality of the money has been 1dentlcaf-
! all kept equal to gold. There is notnlne
connected with our money, therefore,, I.
account for this sudden and aggravated
: industrial change. Whatever is to d
. deprecated in our financial system, Il
. must everywhere be admitted that QUE
! money has been absolutely sound and ha
. brought neither loss nor inconvenience u
: : it's holders. deprecated currency ma
: not existed to further vex the trou0ie'
: business situation.
Good Money Never Made Times Hard
I .It is a mere pretense to attribute tn
| hard times to the fact that all our cur
o | rency is on a gold basis. Good none
o | never made times hard. Those " no asser
| that our present Industrial and fnancia
depression is the result of the gold stand
= ard have not read American history arigh1
g OF been careful students of the events
e i recent years. We never had greater pros
e perity in this country, in every field c
II eupIoyment and industry. than in the bus
e years from 1880 to 1892, during all of whic
5 time this country was on a gold basis an
q employed more gold money in its hScs
and business operations tnar ever before
e We had, too, a protective tariff unde
e which ample revenues were collected hc
u the government and an accommodating SUI
Z plus which was constantly applied to tn
u pzayment of the public debt. Let us hol
Z fast to that which we know is good.
y is not more money want; what W
l. want is to put the money we alread
$ have at work. When money is employed
men are employed and both have alway
?, been steadily and remuneratively engage
during all the years of protective tart
= legislation. When those who have none
~ lack confidence in the stability OF vaIus
- and investments, they will not part VIII
- their money Business is stagnated-theA III
:, blood of trade is checked and congeste
We cannot restore public confidence I
re an act which would revolutionize all va
:, ues OF an act which entails a deficit
~ ! the public revenues. We cannot 1nSpl
Nc confidence by advocating reputation
!. practicing dishonesty We cannot resTr
- confidence either to the treasury or
rs the people without a change in our preset
e tariff legislation
N Evil of the Democratic Tnrin
nj THE only measure of general natu
m, that affected the treasury and the enaplo
Is ment OF our people passed by the F11t
be third congress was the General farm ac
il: president Whatever virtues may
he claimed for that act, there is confessed
he one which it does not possess 1t lac
e. the essential virtue of its CREATION
| raising of revenue sufficient to supply Z
| needs of the government 1t has at
time provided enough revenue for SUI
Die needs but it has caused a constant de
ii- cheney in the treasury ana seeany
XII pletion in the earnings of labor and Ian
la II has contributed to swell our nation