The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-09-17
SATURDAY, SEPTEMBER II. 1898.
POLITICAL CONFIDENCE GAME

During the presidential campaign, two
years ago, Republican newspapers and
orators never ceased harping the tune
that the hard times resulted from want
of confidence. Business was stagnant,
they told us, because of doubt about the
future of the currency. The election of
Bryan would involve monetary changes
which might knock the underpinning
out of our whole financial structure.
No prudent business man, no capitalist,
would think of pushing an enterprise
In the face of such uncertainty. And
to this want of confidence. as dinned in
the public ear, was directly traceable
the business stagnation.
Then the other side of the picture was
turned-a picture of promise essentially
like the familiar "before and after TAX
ing" device. The people were shown
what would result from restoration of
confidence by the Republican formula.
A glimpse was given of factories and
foundres belching smoke and struggling
with an avalanche of orders. Merchants
and shopkeepers were shoveling money
into their tlls, and iaboring men were
in quandary to know what they should
do with all their wages.
This confidence game was played on
q scale never before attempted in Amer
lean politics. Never before was there
even an approach to the influences
brought to bear in the effort to stem
the tide of popular sentiment in favor
Of an equitable financial system. But
the interests of capital and monopoly
were at stake. No matter what the
cost, or what the sacrifice, the idea of
monetary system in the interest Of
the masses could not be tolerated.
The outcome of that effort is fresh
IN memory. With the power of a Dem
ocratic administration at one wheel of
the Republican machine, and the mighty
influence of the gold bugs at the other.
the cause of the people was temporarily
crushed. Not so badly crushed, how
ever, but that monopolists looked upon
the millions of Bryan votes with fear
and trembling.
The promised return of confidence. II
will be remarked, was not a thing of
uncertain date. The mere fact of the
triumph at the polls of gold-bug finance
would cause its instant restoration.
Settle the point that the financial status
quo is not to be disturbed, settle it by
the fiat Of the presidential election, and
the wheels of business will begin to
hum.
For nearly two years the people have
been intently listening for that hum.
When stiffness led to inquiry, soon after
the election of Mckinley, it was con-
tinuously explained that it would neces-
sarily take a little time for the treat
ment to take effect. Confidence had
been so severely shattered that even
a heroic dose Of restorative would not
Immediately have appreciate effect.
Later came the excuse that confidence
would have to take the tariff treatment.
to steady its shaky nerves, and so the
public was obliged to wait until the
Dingley cure could be applied. No per-
ceptlble change followed that measure
and the people are still patiently wait
ing for confidence to gain strength
enough to get out, and they are also
still listening for that promised din Of
Industrial revival.
Now, having played the confidence
game until it ceased to be tolerable.
the Republican leaders have the eff
fTontery to tell US that prosperity is
really here. They do not pretend that
1t is croWding US to the limit Of stand
ing room only, but they point to the
increased earnings of railways and
other corporations as evidence of gen.
eral thrift The industry of coupon
cutting is doubtless thriving but the
people this year are not likely TO he
hoodwinked as they were two years ago.
by Republican fairy stories of pros