Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1901-09-06
POLICIES OF REPUBLICANS.
Prosperity Has Not Always Come I'm
der That Pnrty's DOM
tnation.

IL rs d SlduuluS uAS41G VI puC A0-
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. It is claim that
will not bear scrutiny in the light Of
the country's past history. There have
been some exceedingly favorable con-
aitions in the United States with the
republican party in absolute control
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 a remote
prospect of any change. Gen. Grant
had just been reelected and had nearly
full term to serve. And yet the finan-
cial storm swept the country like a
tornado, and there never was COM
plete recovery until considerably more
than score of years had passed.
There was another smaller panic in
1882, and the whole period between
1873 and 1893 was one of very general
depression, subject only to temporary
and spasmodic revivals. This is mat
ter of economic history, and the cause
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-
aensy at the same time, and conse-
quently were unable to place demo-
cratic measure upon the national stat
ute books.
The panic Of 1893 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,
q distinctively republican measure, and
during the debate on the repeal bill
Senator Sherman declared in the sem
ate that ii the law were repealed chat
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 five years. And when the cam
paign came ON in 1896, forgetting their
former declaration the republican
leaders asserted that 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 agitat ion 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
forcing repeal OF the Sherman law.
The effort was eninentiy 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 true 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
# did here. But our main purpose now
is merely to show how unfounded is
the claim that we always have prosper
tty under republican policies.
Wise Democratic Policy