Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1901-08-29
POLICIES.
Prosperity Has net Always Come Un-
der That Pa-ty's Dom-
fnati0m.

1t is q standing argument OF the re-
publican spellbinder and republican
newspaper that when their party is
in control the country is prosperous,
while disaster always follows in the
wake of a national democratic victory.
says the Washington Times. The
great objection to this argument is
that it is not true. 1t is a claim that
will not bear scrutiny in the light of
the country's past history. There have
been some exceedingly favorable con-
ditions in the United States with the
republican party in absolute control
of national affairs. The panic of 1873
came with the republican power at it's
height, and republican policies in full
force. There was not ever a remote
prospect of any change. Gen. Grant
had just been reelected and had nearly
a full term to serve. And yet the inan-
cial storm swept the country like a
tornado, and there never was a COM
plete recovery until considerably more
than a score of years had passed.
There was another smaller panic in
1~sS1-s2, and the whole period between
80 oAN 1000 was OAC VI SCIJ SCAC4 oil
depression, subject only to temporary
and spasmcdic revivals. This is a mat
ter of economic history, and the cause
OF the troubles has been made the
subject of the most exhaustive investi-
cations on both sides of the Atlantic.
During all of this period the policy of
the country was exclusively republic
an, for the democrats never controlled
both houses of congress and the presi-
dency at the same time, and conse-
quently were unable to place a demo-
cratic measure upon the national stat
ute books.
The panic of 1898 likewise came with
every vestige of our economic legisla-
ton of republican enactment. The
only democratic measure we have had
since the civil war was the Wilson
tariff, and this was not enacted until
about Is months after the financial
storm broke. The great moneyed in
terests of the country insisted that the
panic was caused by the Sherman law,
a distinctively republican measure, and
during the debate on the repeal bill
Senator Sherman declared in the sem
ate that if the law were repealed (that
is, the purchase clause of it) prosper
ity would return in ten days. The re-
peal bill passed, but prosperity did not
return in ten days, or in ten months,
or in Ave years. And when the cam
paign came on in 1896, forgetting their
former declarations, the republican
leaders asserted hat the continued
hard times were owing partly to the
Wilson tariff, and partly to the silver
agitation; but they conveniently omit
ted to explain what caused the trou-
BILE before the Wilson law was enacted
and before the silver agitation began.
The panic of 1893 was, in fact, a
forced one, brought on by President
Cleveland and Secretary Carlisle, in
collision with the New York bank ring,
for the express purpose of giving the
country an "obiect lesson" and thus
forcing a repeal of the Sherman law.
The effort was eminently successful
in all respects except in restoring
prosperity. In carrying out this de-
lectable scheme, as is well known, Mr..
Cleveland put himself outside the pale
of rue democracy, and straight in line
with the current republican thought.
There might and probably would
have been some trouble even without
this artificial forcing of the panic, for
the business stagnation was almost
worldwide, and we could not reason
ably hope entirely to escape; but the
panic would not have come when it did
or have been so severe. When the
revival came, that also was interna-
tional in character, the change APP
pearing in Europe about a year before
it did here. But our main purpose now
is merely to show how u~nfounded is
the claim that we always have prosper
ity under republican policies.