The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1901-11-22


PEkITY.
Il is a standing argument II the
Republican spellbinder and Republican
newspaper that when their party IS ia
control the country IS prosperous.
willie 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. It IS a claim that
viii not bear scrutiny in the light Of
the countrys past history. There have
been some exceedingly unfavorable
conditions in the United States with
the Republican party in absolute con
troll Of national Affairs. The panic OF
1873 came with the Republican power
at its height and Republican policies
in full force. There was not even
remote prospect Of any change. Cen
eral Grant had just been reelected and
had nearly a full term to serve. And
yet the financial storm swept the coun-
iry like a tornado. and there never
was a complete recovery until consid-
erably more than a score Of years had
passed.
iAefe was another smaller panic in
lsSl-S2, and the whole period between
1873 and 1898 was one Of very general
depression. subject only to temporary
and spasmodic rayivals. This is
matter Of economic history, and the
cause Of the troubles has been made
the subject Of the most exhaustive in
vestigations OH both sides OF the At
lantic. During all Of this period the
policy of the country was exclusively
Republican, for the Democrats never
controlled both houses Of congress and
the presidency at the same time, and
consequently were unable to place
Democratic measure upon the national
statute books.
The panic Of 1898 likewise came with
every vestige Of our economic legisla-
tion 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 fifteen months after the financial
storm broke. The great mOneyed In
terests OF the country insisted that
the panic was caused by the Sherman
lrw. a distinctly Republican measure,
and during the debate on the repeal
bin Senator Sherman declared in the
senate that If the law were repealed
(that Is, the purchase clause Of IT'D |
prosperity would return in ten days. /
The repeal bill passed, but prosperity /
1f1 not rof,t-n T., fon 1a4~c a.. "a 80, I
months, or in five years And when
the campaign came on in 1896, forget I
ting their former declarations. the Re.
publican leaders asserted that the con /
tinued bsrd times were owing partly 4
to the Wilson tariff, and partly to the I
silver agitation: but they conveniently 4
omitted to explain what caused the I
trouble before the Wilson law was /
enacted and before the silver agitation
began.
The panic OF 1893 was, in fact. .
forced one, brought on by President /
Cleveland and Secretary Carlisle. in I
Collision with the New York bank I
ring. for the express purpose OF giy- /
ing the country an object lesson" and I
thus forcing S repeal OF the sherman I
law. The effort was eminently sue-
cessful in all respects except in restnr- I
Ing prosperity. In carrying out this 4
delectable scheme. as IS wen known.
Mr.. Cleveland put himself outside the
pale Of true Democracy, and straight I
IN line with the current Of Republican
thought. There might and probably
would have been some trouble even
without this artificial forcing Of the
panic, for the business stagnauon was
almost wosld wide. and we could not
reasonably hope entirely to escape:
but the panic would not have come
when II did or have been so severe.
When the revival came. that also was
international in character. the change
appearing in Europe about q year be-
fore II did here But cur main purpose
now Is merely to show how unfounded
Is the claim that we always have pros
perity under Republican policies.