The Princeton union., 1900-07-26
AND They WILL BE FOR MCKINLEY AND ROOSEvEl T--:
LIGHT ON PHILIPPINE And TRUST PROBLEMS.

Senator Knute Nelson of Minnesota ad-
dressed the opening session Of the ma
11onal convention OF Republican league
clubs He gave a mastery review of the
events since the last presidential cam
paign and presented a clear and concise
comparison of the records and aims Of
the Republican and Democratic parties
during. those troublous times. He said:
'In 1892 the American people, in the
midst of prosperity and good times, under
the promise and with the expectation Of
still greater prosperity and still better
times, saw fit to take the administration
OF national affairs from the hands os
the Republican party and place it in the
hands of the Democratic party.
"On March 4, 1893, the Democratic party
mad for the first time since 1861, full
control Of the government, both through
the executive ard the legislative depart
ments. The reforms and measures Of re-
lief promised by the Democrat tic party
IN 1892 We're, in performance, confined
chiefly to two .schemes: The enactment
of the Wilson, German tariff law and re-
placing all Republican officials with Dem
ocrats and fastening the latter on the
pubic service permanently by an ex-
tended application of the civil service
law M 81 Ig&58t iSa .2t 4S
In the wake of the Democratic adnin-
1strat1on-speeded,a aggravated and swollen
py lt-came the industrial and financial
panic and stagnation Of 1893 and the three
following years. Neither the change Of
oHlceholders nor the Wilson German law
furnished relief nor proved palliative.
Inc law, instead of relieving, measur-@
ably intensified and prolonged the in-l1
oustrlal stagnation, and by failing to fur
nlsh q suflclency Of revenue was largely
instrumental in bringing about the great
500 Withdrawals from the treasury in
1s93-4-5. which led to the great financial
pane ana congestion during that period;
and forced President Cleveland. for the
purpose of maintaining the integrity of
our currency and of securing the neces-
Sd l alry revenue Tor the wants of the gov-
ernment, to Increase our bonded Indebted
ness TO the extent of $262, 900 900. The
only legislative palliative afforded to stay
the panic and uphold the credit aof the.
government was the law repeating the
silver purchasing clause Of the act Of
1oSO' ana the passage of this law was ac-3
comp cotnpnsned through the efforts Of united
republican party and a few Democrats.
VINO VINO arose to the occasion ana ri were
greater than the main body Of their
party. with this law and abundant
revenue there would, in all likelihood
nave Deen no occasion to make such ex
tensive loans, but with a deficiency Of rev.
enue loans were inevitable and neces
slty for the vitality Of our currency
AND II was only because Of the existence
OF the refunding and resumption acts on
the statute books, passed by the Reput
mean mean party In congress, that these loans
could be made. The JRepubli can party
can claim the credit for these acts ana
z for the act Of 1893, repeating the pro-
vision for the purchase Of silver, and III
was with these Republican weapons that
Cleveland was enabled to partially stav!
the financial panic to maintain our cur
Z rency on parity with gold, and to pre-
vent the country from falling into a
state Of silver monomet allism. n But III
all his efforts in this direction he neither
had the support nor sympathy Of his
party or It's leaders III congress. IN ss ffss
s3 Four years ago, though then slightly
convalescent, we we're still suffering from
the effects OF BE II IS II 85#{
The Hard Times EI5s8 3Fs.
which had come upon us and had been
with US since 1903. There was still IN
dustrial and financial stagnation: facto
ries and furnaces, mills and shops. were
still closed or on reduced time. Laborers
and employees were still idle or working Z
reduced wages and reduced hours. M onev
was still scarce In active use. and was N
hiding, partly for lack Of profitable in.
yestment, but chiefly because Of the dread
OF threatened silver recommendations and