Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1902-10-15


minis of the country were kept busy
coming. both gold and silver for cir
culation until, If remember correct
ly, it was sometime in the latter part
of '9S, or early in 1899 that the month
ly increase in our circulating medium
reached the goodly sum Of about ten
millions of dollars, and this was con-
tinued for period of apout eight
months or Whereabouts, during which
time eighty millions Of dollars were
added to our circulating medium.
1t was this increase in money that
set the wheels of industry in motion
after the panic of '93.
1t is not two weeks since, as you all
know, that the great centers of finance
in this country were trembling with
fear because certain rules of the treas
ury department had tied up in treas
ury vaults and depositaries some fifty
millions of our present enormous VOL
ume of circulating medium, and it
required suspension of these rules by
the secretary of the treasury to re-
lease for use by our people that COM
paratively trifling sum to save the
country from the incipient stages of
money panic.
How destitute of truth, therefore,
is this vaunt ng claim of pol tic ans
that it was the excessive protective
tariff of 1897 that released the coun-
try from the business depression that
followed the panic of '9S precisely as
like depression always follows any
panic that ever came to any country.
regret to be compelled to say,
there is purpose in this claim that
does not argue we'll for men of in
telligence who make it.
STRIKES AT THE TRUSTS.
The apo,ogists of the great trusts
and combines that are opening the
eyes of the masses to some of the con-
sequences that flow from a system
that despoils one class of our people
to enrich another, are appealing to
your fears instead of your reason to
system that in the light of present
conditions can no longer be defended
on rational grounds.
Let me call your attention for mo-
| ment to some Of the consequences a
high protective tariff has accomplish
ed, and in doing this will call to my
aid recent statements before a pub
lie gathering in Chicago of no less a
person than one of Iowa's respected
senators.
At public meeting held few
nights since under the auspices OF the
National League of Republican clubs,
Senator Dolliver, speaking of the
formation Of trusts in this country,
said: I'VE know now that they are one
hundred eighty-five in number, repre-
senting the consolidation of two
thousand and forty separate plants
think he got the number of trusts
of the present day far too low and
the number of separate plants that
have been combined as much too low,
but his figures are sufficiently large
to illustrate the Importance of the
question that more than any other is
agitating the minds OF our people to-
day.
1t must be remembered iE this con-
nection that the great bulk OF these
one hundred eighty-five combinations
combining two thousand and forty
separate plants. heretofore operated
independently of each other are the
outgrowth of brief space of time,
largely of the last two years.
That this mania for like comb'na-
lions is at the present hour at fever
heat in every part Of the United States
it is absolutely certain, and unless in
some way checked it threatens to in
volve all of the manufacturing in
dustries and every species Of natural
products that can be gathered to the
arms of a trust is equally certain.
The facts stated by Senator Deliver
land the entirely NATURALLY reflections
caused thereby cannot fail To. -ina,ss-ss.---.s
.zs.5s IL III an WITH the enor-
mous Importance of the issue that
must be determined blythe votes Of the
country this fall.
The lines Of cleavage on that ques-
ton are clearly drawn.
The democratic party insists upon
immediate decisive action to check
these great combinations that every
one comedies are becoming a menace
to the welfare of this great country
Its first and most imperative de-
mand is that the government of the
United States shall dissolve partner
ship with them and cease to levy
tribute upon the masses of the Ameri-
can people for them to feed and fat
ten upon.
This demand of necessity interferes
with our protective tariff, which is a
creation of the republican party, and
rather than admit that anything evil
can grow out of policy for which
that party is responsible great num-
bers of it's members insist that the
shield of its protection shall not be
broken, no matter how many trusts
are hidden behind it.
A few, like the Iowa republicans
are willing to take down its walls at
a single point, whenever it is estab-
lished that monopoly is secreted at
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