Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-09-13
AS Mr.. REED SEES IT
Speaker of the Hou'sss, Writes Of the
Situation Of To-day.
SOCIAL AND NlruRAIILAv COMPARED
Present siIvesff Agitation Like the
Financial Heressaies of rs.
II
RISE IN PRICE OF WHEAT

II j.
RISE IN PRICE OF WHEAT
In the Philadelphia Press of yesterday
Speaker Thomas B. Reed discussed the con-
dstion of the country as follows: Civiliza-
ton Is education, but it is something more.
1t is not only the bringing out of the
human faculties and powers, but it Is also
the successful application Of them to the
problems of life. The laws of inanimate
nature we can easily understand to be
inf1exible. If we are once sure that we
have taken observations enough, we are
equally sure that inanimate nature will
work the same way under what seem to
us the same circumstances. OF course, we
never get perfect knowledge and are al
ways finding out exceptions. But In a
general way we are always right about
matter end always feel satisfied that we
can predict what it will do. The steam
engine will always work its machinery and
the cars viii always turn on their wheels
1t was not so in the beginning. We used
to be very much in the dark and felt our
way to all these things. But while we have
come to the simple truth, that inanimate
nature can be fathomed, We are as much
in the dark as to the action of great bodies
of men. Nevertheless, there is reason to
believe that mankind as a mass acts by
determinate laws: the courses and direc-
tions of which we are every day more anu
more finding out
This nation has had to have special
education in finance because its circum-
stances and surroundings were and are dl1-
ferent from those of any other nation IN
the history of the world. 1t is true that
before our day vast empires have been
peopled by immigration and have hourished.
But our empire has been peopled, not long
ago, but in cur day, in which there has
been invented every appliance to enable
men to exploit the riches of the earth.
Moreover, beyond any other period In the
worlds history capital has been esseE-
tial to the utilization of the riches OF LANDS
such rs ours.
Costly Capital Makes Lasting Wealth.
We in the east are very much prone to
blame the west for it's attitude in financial
struggles, but the western people are under
strong temptations always. They can see
the wealth of their country and all its
great possibilities, and, becoming impa-
tent at the slow approach of confidence
and capital, are tempted beyond measure
to use all those appliances of the art of
financiering which seem SO easy and are
in the long run so ruinous. We had our
periods, we in the east, when We ran to
paper money as to a savior and found it
satan. Our very constitution. in its TAX
ing away from the states the right to issue
paper money, is the result of the sufferings
undergone by otir ancestors in the east,
History of American Currency"
We have learned the lesson, but ought
not to be too impatient with those who
have not We have learned and others
Will have to learn that in the end it is capt.
tai which costs, that makes wealth which
lasts 1t is true that We may make a capt.
tai which does not cost, but it Is a dau-
gerous demon and the harness is expensive
and the breakups frequent.
With our new country we are undergoing
an education which older nations have at
tanned for themselves in their own sur
roundings already. We have to learn for
ourselves not because we are not bright
enough to learn as quickly as anybody or
TO learn from anybody, but because our
circumstances are different and our tempta-
S TONS greater. We think our country must
In finding that It Is not
what nation finds out for itself, how
ever, stays longer than what some one
else finds out for 1t. The last few months
nave been full OF education for the whole
American people. There has been nothing
really new about 1t. but there has been
one more repetition to make the lesson
SOLID. In time no one will dispute the sure
succession OF events and thereafter patent
remedies for hard times and patent elix!rs
for prosperity will have had their day.
Downing of the Greenback Specter,
tween 1896 and 1897 and the years of our
Lord 1873 and 1879. These years are within
the personal memories of every man in
middle life. In 1878 the air was resonant
with denunciations of the wicked men who
would not issue all the greenbacks which q
suffering people demanded. Here was a
sure remedy for great ills and yet the re-
morseless rulers would not stir a finger or
print single bit of paper.
John Sherman denounced on all
hands, Samuel j. Tilden declared that only
a vast central reservoir of coin could pro-
tect US against the failure Of the proposed
return to specie payments in 1879 The
farmer was at his worst, ruined DESTROYED
eaten up by taxes and usury. Down al
most to the very day of resumption the
croaking came with dismal and damnabIe
iteration. Some capitalist even proclaimed
his readiness to give thousands and thou
sands of dollars to stand at the trea s,lry
first in the row of that vast multitude
which would surely assemble on the first
resumption day.
election, the state of Maine, Mr. Blaine's
own state, in campaign under his able
and skillfui leadership, went over to the
changing a majority of 1900 for sound
money to majority of 14,00o in favor of
the widest carnival of unreason that ever
overwhelmed an intelligent people. When
the LIST of January came no crowds tbrong
ed the subtreasury corridors. HardIw ;,
greenback was presented and we got haclr
TO the currency of. the world without a
movement or jar.
The Prosperity of 1897.
FROM that moment prosperity began, not
the eternal prosperity of the New Jerusa-
lem. but an earthly prosperity enduring
as long as human nature would hermit
New Ise York Central was 112 and went to
iso. Northwest common rose from 40 10
u; the preferred from 50 to 1O4 ST. PanI
from 20 to 10; the preferred from GO To ION
and all the rest of them in like propor,
ton. Or course, the greenback leaders tx
plslned that this was all Temporary. he
cause NJ real prosperity could come with
out greenbacks. Nevertheless, the world
went On. Thereinwas no lack of money
because we hadnbusinessI which paid and
whenever nation has business which pays
1t can draw on the money of the whoJe
world 4 'iis "-Ae-S
How like this sare thee events of the last
twelve months!s sPrior oto the passa ge of
the tariff act we had scenes like those
which preceded the first iday Of 1879. The
onerers of the patent remedy stood by and
jeered. They Knocked at US when our fear
came. But when. the due legislation had
been had and there was no further change