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

VI "AiSA Jul Couully was guilty ny
granting to these people their ''inalien-
able right to life, liberty and the pur-
suit Of happiness right that has
thus far been denied them. not by the
American people as, whole, but by
republican leaders alone.
If this demand of democrats coupled
with the plea of republicans for silence
on the Philippine question, fails to pre-
sent an issue for consideration by the
llberty-loving men and women of
America. it would be hard to define
anything that would do so.
In another respect it may, for the pur-
pose of this argument, be conceded that
the democratic party occupies mega
tive position and therefore acts simply
as brake to check the onward flight
OF progressive republication.
CHERISHED REPUBLICAN DOC
TRINE.
1t is a cherished doctrine of that self
styled vigorous young party, borrowed
1t is true, from earlier ages in our his
tory, that it is legitimate exercise
OF governmental authority to take
from the earnings of the many and be-
stow it as bounty upon the few, and,
to give this theory practical effect,
they insist upon protective tariff that
excludes foreign merchandise from our
shores and enables home producers to
fix their own prices upon the bulk of
what all must have in order to live.
This claim of republicans has al
ways founu opponents in every age of
our history, and always will as long
as men are found who believe in
equal rights to all and special privil-
eyes to none"
1t is the constant boast of the lead
ers of that party that it is this sys-
tenn of taking from one class for the
benefit of another that is the single
panacea for all our ills. and Just now
they are proclaiming from the house.
tops in every hamlet of the land the
wonders it accomplished in lifting the
country out of the dark days that fol-
lowed the panic of 1898. panic they
tell us that followed as a necessary
| consequence the reduction of tariff
duties by democrats few years before.
There are few men living yet who
can remember money panic in the
early thirties, more who remember an
other in the early fifties. a great many
| who remember another about 1873 and
all who are old enough to vote remem-
Der that of 1898.
1t is a curious fact that these panics
] have ALWAYS OF NJ; ut,
lar periods of time, or about twenty
years apart, and they have never been
known to show any partially to po-
litical parties in their visits to this
country, so far as | am aware.
There was perfectly well defined
cause for the panic of 1S93-a cause
that if repeated today would plunge
this country into an equally disastrous
panic in twenty.four hours, and one
that could be relieved by the same
means that lifted us out of the panic
OF SO, and by no other means that hui
man ingenuity could invent.
MAJOR LACEY is QUOTED.
Major Lacey, republican member
of congress from the Sixth congression-
al district in this state. in his opening
address in that district a few days
since. told the whole truth of that
panic. its cause and its cure alike.
He said: I'm 1896 the total circula-
ting medium of this country was one
billion, five hundred million, four
hundred and twenty-four thousand,
nine hundred sixty-six dollars. In
1902 the total of our circulating medi-
um had been increased to two billions,
five hundred fifty-eight millions, seven
hundred seventy thousand. seven hun
dred and sixty nine dollars" l took
these figures from report of his
speech in the Register and Leader of
September 18th, last. s.
Now, let W apply a little common
sense to t'H matter, in the light IF
fl the minds of all al u
al '-.Ssur IN the Third Yt6ns
Tgl strict can be led to- be-
llieye l.... as the Dingley tafis Vol
1897 that liften the country out of the
panic two or three years later.
In 1896 there was universal assent
everywhere that our circulating me-
dunn was far too limited. IA majority
of the democratic party thought that
scarcity should De relieved by open
ing the minis of the country to the
free coinage of silver at the ratio OF
l6 to ! with gold. Republicans and
many democrats opposed this method
OF relieving the stringency in the mon
ey markets, because. as they claimed
it would deprive us of all the gold we
then had or could thereafter get. to use
as money and reduce us to strictly
silver basis.
That view won in the election OF
'96. The republican party having con-
troll of all the departments of govern
ment was. therefore. the only source
from which it was possible that re-
lief from the money stringency of the
country could come and they soon be-
gan to devise means by which that end
could be accomplished.
CURRENCY LEGISLATION RE
SPONSIBLE.
1t is true they changed our tariff
laws early in 81, but that change
brought no relief to the country and
never would have brought any had IL
l