The Washington times., 1901-07-18

leaders would. many of them at any
rate appeal to the people upon Droad
fundamental principles. But the Re-
publicans make it purelyl 2 matter OF
dollars and cents. and per force OF the
situation the Democrats must follow
their opponents into that line of dis
cussion. In saying this we are not for
getful that the Republican party was
not always constituted as it is now.
Originally it was a party of principles,
and while there was room for question
as to the soundness of some of its doc
trines. its creed nevertheless, was not
a mercenary one. Now, practically 1t
makes nothing but the dinner pail
argument, assuming constantly that
the dinner pail would always be empty
if it were not for Republican states
manship.
In this line it has been quite success
full in keeping itself in power Obtain-
ing control through great question of
sentiment, it held on for long time
through the continuing force of that
sentiment In the meantime it inaugu-
rated a financial and commercial poll
cy which was made to interweave with
the business of the country in such
manner that any interference with the
governmental policy was certain tenn
porarily to disturb business. When
such disturbance has occurred before
time could come into play and work a
readjustment, another election has
taken place, and by the dollars-and-
cents argument the Republicans have
been restored to power. AT once they
have proceeded to enact legislation
which gave a temporary though I'M
natural stimulant to business. and this
has generally lasted long enough to
carry them successfully through a sec
ond campaign.
Despite all Of this the truth is that
two of the worst crashes in our indus
trial and financial history came with
the policy of the Republican party in
full force. The panic of 1878 struck the
country with the Republicans in con-
troll of both the executive and legisla-
tive branches of the Government, and
with no sign OF such control being lost
L
merely part of a worldwide break in
business, sut it reached us while every
vestige of financial and commercial
legislation upon our national statute
books was the work of the Republican
party. What is more, the fact is no.
torious that the financial world at the
time. without respect to party, was
was caused by the Sherman law. a Re-
publican measure passed through >poth
Houses of Congress without a Demo-
cratic vote. signed by a Republican
President, and throughout the cam
paign of 1892 proclaimed by the Re-
publican leaders to be the main cause
OF the prosperity which then prevailed.
What the next three years will bring
in business way no man can tell. All
should hoDe for the best, but the dis
cerning must admit that the signs of
the times are not so favorable as We
could wish. either at home or abroad.
Already the prosperity wave has
broken in many parts of Europe, and
the tide is running less high on this
side of the Atlantic. Should the bust
ness situation take a serious turn for
the worse, it will be both interesting
and instructive to watch the course OF
Republican explanation. II Republican
policy is the sole cause of recent pros
perity, then by the most ineXorable rule
of logic any break in the prosperity
while the policy remains in force must
be chargeable thereto; but We may be
sure that when the change comes the
Republican leaders will accept none of
the responsibility.