The Globe-republican., 1900-02-01
A MIRACLE OF THREE YEARS.
A Comparison OF Democratic PredIe-
tIons Republican Perfor mancss
One Always Right and the

Hard times are with us: the coun- | :
try IS distracsed' very few Things are 4
of productions; tens of thousands are :
out of employ Inenu. the jails, peniten-
luuas are full: the gold reserve at j
Washington is sinking: the govern
ment is running at a loss with
debt hangs like an appalling cloud |
over the country: taxes have assumed
the Importance OF a mortgage, and
so per cent of the public revenues are
likely to go delinquent, hungered and
half star men are banding INTO
armies and marching toward Wash
ington; the cry of distress is heard on
every hand; business is paralyzed;
commerce is at a standstill; riots End
strikes prevail throughout the land, |
schemes to remedy our ills when Put |
into execution are smashed like COX
cars in railroad wreck. and wall
street looks in vain for an excuse to
account for the failure of prosperity
return sin ce tho repeal OF the SILVER
purchase act
The above paragraph written
by w. H Harvey for his famous little
book Coins Financicl School,, in |
1895 1t assumed to be a correct rep |
resentation of the conditions of that |
time The book was written to prove
that these were our conditions, ana
that the only thing which wout save
from the impending disaster ana
| restore us to pros perity, would be the
! election of William Jennings Bryan,
and the subse quent adoption OF a law
| providing for the free ana un1mAIeo
| coinage of silver at ration of 10 to
| with gold The followers of Mr.. Bry-
| an and Mr. Harvey told us that she
| election of President McKinley would
only darken the picture given aoove-
| They assured us that Mr.. Mckinley's
| success at the polls would bring rs a
panic which would cause the total de-
struction of all prices, and that farm
ers would be selling their wheat for
twenty five cents a bushel
| controversy
the condition which confronted us in
1896 any more than there can be a
controversy over the prosperous con
dition which confronss us now h.
G. Dun & Co.'S Weekly Review of
Trade for the first week in October of
l 1896 tells that 1.-The complete re-
r port of the failures in business for
a | the quarter which was then en- Ling
| showed an increase which was alarm
g ing In number, it was only per
: cent less than the panic quarter OF
q | 1898 Manufacturing liabilities were
n $40, 46S. 926, 81 per cent greater than
;, in the same quarter Of 1923, viii &
9 trading liabilities were SIS, 73o,217 ano
n other commercial liabilities Were
r S2,o67,2 *6. To this must be adde's
- | SI17I296O liabilities in City baul
- failures, making exclusive of railway
=, $50, 900, 900 in a single quarter Com
- parisons are given showing that II
y twenty-five years, only once befor
~ have defauited Tia bilities been so larg
y October, 1896"
Il The Republicans in their campaig
that year did not deny that cond
lions were dubious, but they asserte
N that free silver at the ratio of 10 to
would not correct these condition:
E0 President Mckinley in his speeches
the fall of 1896 said: 1T is not an il
It. crease in the volume of money whic
ad IS the need of the time. but an IL
ey crease in the volume of business; nc
n, / open 1nints for the unlimited coinag
ey of the silver of the world, but ope
ey mills for the full and unre strlcte
ell | labor of American wOrlzing men
he The condition which cOnfronts
ol- to-day certainly to the mind of eyer
on thinking man, proves that PresldeH
ol- Mckinley was right r g. Dunn
ed Co s Weekly Review of Trade, cove
RS ing the same week in 1899 that tn
in report quotes above covered for 1Se
SO | paints picture SO decidedly IN co
so | rrast to the of 1895, that it seer
In hard to believe that are living
m the sarae century, or that there cou
cir have been in only three years til
ew such q decided reversal of condition
IA The drst line of Dunn's report
,ut 1896 c Ais attention to the fact TIN
Ct 1.-The aumbcr of business failures
- alarming" The first line of his
av port "a 1899 for the same week ca
he ! atteJ.tion to the fact that ''busln'
&C. continues to expand He sa.
- ..Pr ices are still advancing in al me
80 every line. supported by rising prit
yer
is, Oh -; *.t
The arc SUN W :.
be- Pacley' ~n -
dis Aoono 6ilAoS IT,
ght enough eoin .pI -s-ssa -; ~.
its ulne % -, So. -;
hen rises " 80 - 49,
-. of goods exchanged Failures for
OF $500 80: ~ -
lose - r,1 +ias +h;. ~
en- -. IT, .1,,a ,f h,,s;, :,
transactions this week would n
aoys excited wonder last year and
CO. 80 $500 Tnanstrial conditi
word 800 l5I-. - better After m;
istol x,x .-,.h .~+-.ord-oarv buv
oxen -. =. ,,;,,,,,,,.a saen1ed fmpo
BILE, even larger buying still GRO
| nroducino works IN most II-zes