The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1899-10-27

fraud or fool. Only a fraud would
set up that explanation and only a
fool would believe in it. The same
perity' that we in this country are
experiencing. has at the same time
taken place in England under the tory
administration Of Salisbury, in Ger
many under an emperor, in Canada un-
der the democratic Laurier and in AUS
tralia under administrations of various
political compilations. This swinging
lum recks not of political parties nor
administrations. 1t is governed by
economic conditions to which neither
parties nor administrations yet pay
much attention. When those condi-
lions are ripe for the change, prosper
ity" succeeds hard times and then
gives way to them again, regardless of
forms of government OF Of political
parties. These phenomena are no
more confined to nations than to vot-
ing precincts. They are worldwide,
and the politician who sincerely claims
that his party has produced q change
from hard times" to good times" in
any country, when the same phenom-
ena are observable in all countries,
writes himself down an ass.
While we assume that the depres-
sion Of the '90's is passing away, the
assumption will not be generally &C
cepted. Too many men are out OF
work; too many men find it as hard
as ever to make ends meet; too many
men are working harder and harder
ann making less than ever before; too
many men are conscious of diminish
ing business opportunities; too man
men find stationary salaries burdened
with advancing prices-altogether,
prosperity is too unevenly distributed
to allow Of any general acceptance OF
the assumption that it is at hand.
Yet it. Is not to be inferred that those
who assert that prosperity is here are
themselves deceived or are trying to de-
ceive others. Partisanship aside, men
report what they themselves observe,
The situation is mixed, and the re-
ports you get upon the subject depend
Upon the environment of the person
you i~nterrogate. If the outlook in his
circles has improved, he reports in IA
vor Of prosperity; il his outlook is un-
improved, he reports against it.
No thinking. educated Republican.
no w~ell-posted business man, will
claim that the present weak business
revival Is permanent. The gold stand
ard political economy has no perma-
nent cure for panics and periodical in
dustrial depressions. anu claims to
have one.
Liquidation must follow speculation.
When workingmen's and farmers
wages are insufficient to buy the full
products Of factories, the shops must
close down. causing another era OF
widespread distress. The revival of
business initiates land values until high
rent. in turn. chops off production. I'm
derneath all, as an inevitable cause Of
a future panic, is the fall Of prices due
to the relative decrease in the volume
of money, which will surely squeeze the
prosperity out Of business conditions.
To get rid Of panics. industrial de-
pressions and hard times. permanently,
we must do away with the whole Re-
publican go~ld-standard political econ
omy and public policy. II we abolish
all monopolies and provide for a cur
rency volume equal to all Of the de-
mands Of production and trade. pros
perity will constantly increase instead
Of being subject to severe periodical
depressions.