The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1901-08-30
,,,LICiES OF REPUBLICANS.
Prosperity Has Not Always Come un-
der That Party's OOm-
1naaiOn.

II IL q standing argument Of the re-
publican spellbinder and republican
rewspaper that when their party is
h control the country is prosperous,
while disaster always follows in the
wake OF national democratic victory.
saws the Washington Times. The
Great objection to this argument is
mat ii is not true. IL is a claim that
n,ll 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
~ national affairs. The panic Of 1879
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 lust been reelected and had nearly
= full term to serve. And yet the finan-
-,al storm swept the country like
tornado, and there never was com
plete recovery until considerably more
than score of years had passed.
There was another smaller panic in
1sel.s2. and the whole period between
1873 and 1893 was one OF very general
depre sion, subject only to temporary
and spasmodic 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-
ouently we're unable to place a demo-
cratic measure upon the national stat
ute books.
The panic of 1893 likewise came with
every vestige Of our economic legsla-
ton Of republican enactment. The
only democratic measure we have had
since the civil war was the Wilson
tarir. and this was not enacted until
about Is months after the financial
storm broke. The great moneyed in
ieresis Of the country insisted that the
panic was caused by the Sherman law.
diStinciively republican measure, and
during the debate on the repeal bill
Senator Sherman declared in the SEN
ate that II the law were repealed Chat
Is, the purchase clause Of IT'D prosper
~ would return in ten days. The re-
rea' bill passed, but prosperity did not
return in ten days, or in ten months,
ar 'n five years. And when the cam
paign came on in 1896. forgetting their
former declarations. the republican
leaders asserted that the continued
hard times were owing partly 10 the
wilson tariff. and partly 10 the silver
agitation: but they conveniently omit
ied 20 explain what caused the trou-
bic before the Wilson law was enacted
and before the silver agitation began.
The panic Of 1898 was. in fact.
forced one. brought on by President
Cleveland and Secretary Carlisle, in
collusion 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 al respects except in restoring
prosperity. In carrying out this de-
ltctable scheme. as is well known. Mr..
Cleveland put himself ont side the pale
uf'rue democracy, and straight in line
w'ih the current republican thought.
There might and probably would
lave 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 IL did
or have been so severe. When the
revival came. that also was interna-
''nal in character. the change APP
bearing in Europe about year before I
Y dd here. But our main purpose now
merely to show how unfounded is !
ne claim that we always have prosper
ny under republican policies.