The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1900-07-27

senator knute Nelson of Minnesota ad-
dressed the opening session Of the ma
t1onal convention of Republican league
clubs. He gave mastery review of the
events since the last presidential cam
paign and presented clear and concise
comparison of the records and aims of
the Republican and Democratic parties
during. those troublous times. He said:
I'm 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 administra ton
OF national affairs from the hands OF
the Republican party and place it in the
hands of the Democratic party.
ON March 4, 1898, the Democratic party
had, 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 Democratic party
IN 1892 were, in performance, confined
Chiefly to two schemes: The enactment
OF the Wi]son-Gorman tariff law and re-
placing all Republican officials with Dem
ocrats and fastening the latter on the
public service permanently by an ex-
tended application of the civil service
law.
In the wake Of the Democratic admin
1stratlon-speeded, aggravated and swollen
py lt-came the industrial and financial
panic and stagnation of 1893 and the three
following years. Neither the change of
omceholders nor the Wilson, German law
1urnlshed relief nor proved a palliative
Inc law, instead of relieving, measur-
ably intensified and prolonged the in
oustrlal stagnat1on, and by failing to fur
Msh sut11clency of revenue was largely
instrumental in bringing about the great
eold Withdrawals from the treasury in
Ie93-4-o, which led to the great financial
panic and congestion during that period
and forced President Cleveland for the
purpose of maintaining the integrity Of
our currency and of securing the neces-
sary revenue for the wants of the gov
eminent, to increase our bonded indebted
ness to the extent of 1892 100000 The
only legislative palliative afforded to STAY
the panic and uphold the credit of the
government was the law repeating the
silver purchasing clause of the act of
1881, and the passage of this law was ac-
compllshed through the efforts of a united
Republican party and a few Democrats,
VINO arose to the occasion and were
greater than the main body of their
party With this law and abunda nt
revenue there would, in all likelihood
have been no occasion to make such ex-
tensive loans, but with deficiency of rev.
enue loans were inevitable and neces-
sity for the vitality of our CURRENCY
And it was only because of the existence
OF the refunding and resumption acts on
the statute books, passed by the Renuh-
Ncan party in congress, that these loans
could be made. The Republican partv
can claim the credit for these acts and
for the act of 1893, repeating the pro-
vision for the purchase of silver. and il
was with these Republican weapons that
Cleveland was enabled to partially stav
Inc hnanclal panic to maintain our cur
rency on parity with gold, and to pre-
vent the country from falling into a
state of silver monomet allism. But in
al MS efforts in this direction he neither
had the support nor sympathy of his
party or its leaders in congress.
-Four years ago, though then slightly
convalescent, we were still suffering from
the effects of
The Hard Times
which had come upon us and had been
with US since 1893. There was still in.
dustrial and financial stagnation: facto.
r1es and furnaces, mills and shops. were
still closed or on reduced time. Laborers
and employees were still idle or working Al
reduced wages and reduced hours. Money
was still scarce in active use and was ir
hiding, partly for lack of profitable in.
vestment, but chiefly because of the dread
OF threatened silver recommendation an6
consequent financial ruin.
1T was at this juncture and under these
conditions that the Democratic party
again offered its services to the country
and 1t offered as the cure-all for the in.
dustrial and financial distress then pre-.
vall1ng the remedy of the free and unlim
TIED coinage of silver at the ratio of II
to l, without regard to what any other
country might do in the premises
'On this subject, as well as on the tariff
question, the Republican party took is.
sue, and maintained that the only wav ir
which the financial and Industrial distress
could be relieved and prosperity restored
was by a tariff law affording ADEQUATE
protection and adequate revenue, and by
financial legislation settling once for al
that our currency should, under all con
ditions and at all times, be maintained or
parity with gold--the money STANDARD
of all the commercial and enlightened ma,
. tons of the world.
ION these issues the American peopl,
found emphatically in favor of the Re-
publican party four years ago, and the,
have had no occasion to regret their &C
ton since that, time. The financial ant
tariff legislation which was promised b,
the Republican party and which was 81
necessary to restore confidence and pros