Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1903-10-22
For House Of Delegates,
], POWELL ROYAL,
OF TaZ0WGll.
ANXIOUS TO HOWL AGAIN.


1t has long been recognized as a fact
that Democracy can only fatten and grow
stroig on calamity. No vulture eyer
sailed around IN the skies, with keen APP
petite and expectant eye, looking more
eagerly for dead carcass than does the
modern Democracy scan the political field
in anxious hunt for calamity. And no
jackal was ever more eager to find and
feast upon a mass Of purid flesh than is
Democracy to I'LL lis hungry NAV with
the remains Of departed prosperity. They
seem, many of them, anxious for hard
times to come again, so that they can say,
ave told you So" Every time there are
any indications that money matters are
likely to become stringent, or business be-
comes eighty dull the calamity howlers"
begin to tune their voices for grand
chorus of walls. They have been doing
this, regardless of the fact that by their
continued anticipation of disaster they
may contribute to bringing about the con.
ditions they pretend to be sOlicitous to
avert.
The recent and now existing conditions
in Wall Street have gwen the howlers
new hope. That the panic which has
prevailed among the stock spectators may
reach cut and affect the whole country is,
no doubt, desired by the callous and sell
fish politicians who can only ride to power
in the wake Of disaster. 1t is gratifying
to know that from present indications the
desired calamity will not come. There
was time when panic in Wall Street
meant mic all over the country. The
present panic in that street has not reach
ed far from its limits. Millions have
been los. by the spectators, but the
banks have remained solvent and strong;
and the masses Of the people have not
been affected Toere is still abundant
and profitable employment for labor and
money is plentiful. 1t is true that the
speculative movement has been checked
but legitimate industrial interests have
not been seriously affected. 1t is also
true that New York is regarded as the
greatest money centre of the country. But
it is also a fact that the associated banks
of New York have of surplus resources
above the legal reserve in round num-
bers S1G,OOO,OOO which is $4,000, 900
more than these banks held in the
way of surplus one year ago.
Some Of our most conser gstive contem-
porsries Of the Democratic persuasion
have been expressing alarm at the decline
in values. And some of them have sug
gested that Mr.. Bryan might, possibly, be
right in his views as to how the gold stan.
dard would ultimately affect the business
interests oflhe country. So far the de-
cline in values has been confined chiefly
to the watered stocks of corporations that
were organized for speculative purposes
rather than as legitimate enterprises.
Fortunately for the country these watered
stocks were bought and owned by specu-
lators, and the great mass of the people who
work and create true values will not be
injured by the decline in value of stocks
and bonds that were at the time Of their
issuing based on nothing that was valua-
BILE.
The agricultural industry of the country
remains in splendid condition. There has
been no general or marked decline in real
estate values nor any in the products of
farms, except IN special localities, owing
entirely to local causes. Wheat, corn, cot
ton, tobacco, poultry and eggs, and fruits
and vegetables, are the stocks that far
mers invest their capital and labor in and
there has been no decline in these stocks.
No. The time forthe calamity howlers"
to be heard r. Toe land is not yet come,
and we tFnst mat it will never come. If
such d timeor condition can be brought
about by the reckless spectators and
gamblers in Wall Street, it is the duty of
all good citizens 10 unite IN demand for
legislation that will prevent it.