Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1903-09-03
ISIT A DELUSION2

fscation by the Federal Government OF
the coal mines of the country. AT the
time it was made the proposition was
looked upon as demagogic bid for the
votes of the masses in New York who were
thensuferipg from a severe coal famine.
Coming from a man who had declared the
sum total of bis political convictions in the
four words, 81 am a Democrat" it was
rude shock to his party associates who
had ever contended that Democracy was
the unrelenting foe of paternalism or CEN
tralization. The new and absurd doctrine
which WAS introduced by Mr.. Hill into
the platform of the New York Democracy
was so vigorously assailed by the press and
public men that it went down in defeat,
and its exponent was forced to retire for n
time into seclusion, he, no doubt, hoping
that his vagary might be forgotten.
Mr. Hill has recently emerged from bis
seclusiOn; and his first utterances to the
public are about as absurd as was his prOpo.
sition to confscate the coal mines. He
expresses lack of faith in our national
prosperity and speaks of it as an exaggerat-
ed condition constructed upon borrowed
capital and as the handiwork of stock
spectators. He says:
"There is chorus Of assertion, constantly
! reiterated, that the country at the present
time is enjoying period of much pros
perity. There are grave reasons fo'
doubling the entire correctness of the
statement"
He then proceeds to give his one con-
vincing reason for doubling that our pros
perity is real and substantial by saying,
that "the country has been surfeited
with the issue of various stocks and bonds,
which have been palmed off upon con-
6ding public under the promise of prof
it's" BY such vague suggestions as these
be undertakes to forecast coming business
disaster which will prove the truth of his
assertion that the present prosperity is not
real. The Norfolk Virginian-Pilot it seems
has been impressed by Mr.. Hills views,
and in discussing them editorially lie
marks:
"There can be no question that much
of what has been called prosperity was in
fact the mere investment by an over.con-
idirg public in stocks of one sort or
another that would not have commended
themselves to investors in ordinary
times"
Our able contemporary has gotten its
logic and facts terribly mixed. To use an
old expression lit has put the cart before
the horse" The investing of an over-con
fiding public in stocks of doubtful value
could not possibly produce a condition
that would have any semblance to pros
perity. If such investments have been
made they were induced by the large &C.
cumulations of profits that have issued
from legitimate enterprises, on which the
real prosperity we have been enjoying for
the past seven years was and is based.
The recent furry in Wall Street and the
present frightened condition of the money
market in New York have been seized
upon by Mr.. Hill as possible forerunners OF
disaster. 1t may be possible that the ex-
traordinary prosperity which has prevailed
in every section OF the Union for the past
seven years has induced many reckless
men to venture beyond the proper limits
in business transactions. Possibly there
may be many failures, and serious business
stagnation may come to trade;but that will
not enable the calamity howlers to make
sensible people think that this has not
been an era of the most wonderful pros
perity ever enjoyed by any nation. With go
many unmistakable proofs before him, the
man who honestly doubts its genuineness
must belong to that classof individuals who
doubt that they have personal existence.
The ascertainment of countrys degree
of prosperity is always made upon certain
existing industrial conditions. If the
great body Of the people are actively and
pro6tably occupied it is considered unmis-
taxable evidence of prosperity. BY the
application of this rule or measure to our
own country the conditions that have ex-
listed here for the past seven years stamp
the insinuations of David Bennett Hill,
and all Others who seem anxious for Gala
nifty to come, as false. Such industrial &C.
tiyity has prevailed here as was meyer wit
messed before. 1t has not been confined
to one class of our people but has reached
and blessed all classes. The farmers of the
west and of all sections of the United
States have cleared themselves from debt
and have large deposits in banks from the
sales of their products. We find that the
earnings Of the working classes have been
most satisfactory, as is evidenced by the
SS4s, 100000 which they have ad to