Omaha daily bee., 1897-01-21


ARE WE ON THE war TO PROSPERITY
There are none so blind as those who
will not sec. Senator Teller, who Is
doubtless sincere In his advocacy of free
silver coinage. Is quoted as saying that
the country is In n great deal worse con-
titlon today than il was several months
ago In proof of this assertion the
senator stated that while on his way
west he stopped over at Chicago aud
was Informed that there are from GOOOO
TO 10000 destitute persons being fed in
that city at the public expense at the
present time. He Furthermore asserted
on his own responsibility that there are
more idle men in the country than there
have been for many years and that the
starting mp Of factories which has taken
place since the election are those that
were closed three days before the cleo
tion, when men were told TO come back
if Mckinley was elected and If not to
stay away
Such assertions coming from man in
as high a public position as Senator
Teller challenge attention. Their
natural tendency Is TO create distrust In
the future prosperity OF the country and
to breed discomfort among the masses.
Like William Jennings Bryan, who re-
Gently pointed at the failure of dozen
western banks as proof that the cleo
ton of Mckinley was not the fore
runner of prosperity, Senator Teller
closes his eyes to what would inevitably
have happened had Mckinley been
defeated. In common with all thought
full men conversant with business con-
ditions the Colorado senator would,
upon reflection, be forced to admit that
the assurance of Il radical change in our
money standard would have precipitated
II financial panic more disastrous than
any that this or any other country has
ever seen. Instead of n dozen bank
failures thousands of banks would have
been forced to suspend, carrying in their
wake complete paralysis of commerce
and industry. Not only would the entire
banking system of the country have
collapsed, but the United States treasury
would have been compelled to discon-
tinue specie payments. How long it
would have taken the country to recover
from such a shock it is impossible even
TO Surmisc.
The 10000 destitute people in Chicago
afford no warrant for the inference that
the country is in n great deal worse con-
dition today than it was before the
lao 81, al
in the United States now than there
have ever been. Chicago has a popula-
ton Of 100000, and if 10000 of its
people are destitute the percentage is no
larger than that of other great cities
throughout the world. 1t shows simply
that out of every 100 people in Chicago
ninety six are able to take care of them
selves, while four are not.
AS to the reopened factories, the truth
is that fully 100000 workingmen and
women are employed today who were
not employed last winter. 1t is abso-
lutely certain that these people would
not have been employed had Mckinley
been defeated, and the ranks of the idle
would have been reinforced by several
hundred thousand mill and factory
hands by reason of the inability of the
owners to carry on their business in the
face of, general withdrawal of banking
accommodations. Worse than all, the
instability of everything while the
change in our money standard was i'm
pending would have isolated the country
for the time being if not for long years
from all international relations.
No rational person expected that boom
times would be restored Immediately
upon the announcement of McIiinley's
election. A marked change for the bet
ter has taken place, however, since No
vember which Senator Teller and his
silver followers refuse to take note of.
First and foremost, confidence in the
nations financial integrity has been re-
stored. The gold in the treasury has
been increasing in volume and bond is
sues are no longer contemplated. The
invisible gold supply has become again
visible and loanable money is abundant
in the money centers. Even in Colorado
the advent of prosperity is being her.
aided forth by the press The Denver
Republican, for example, in a recent is
sue reviewing the years business and
mining operations speaks with conf
dence of the revival of prosperity and
predicts restoration of the former
good times ut no distant day. Tn
fortunately there are people whose
political prosperity depends upon ca
lamity, and those can not be convinced
Of any Improvement either present or
prospective.