Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1904-09-05

Alton b. Par-er IN MS speech accept
Ing the Democratic nomination for Pres
lGGE1f frankly alludes to THAT SENSE
OE UNCERTAINTY AND lNSIA-
BILITY,' that followed past exploits
Of fire Democratic party III the tariff
a5IlEcring line. Nevertheless he fully en-
elsxgass the admirable platform of the
Denz0cratic party with its program OF
aGfack on the tariff, but cautiously, how
ever, he takes good care to dispel all
GaaxS that the program can be success
TU2 by announcing that:
TT is A FACT AND SHOULD BE
FRANKLY CONCEDED THAT
THOUGH OUR PARTY BE sue
CyFsSSFUL IN THE COMING CON
TEST WE CANNOT HOPE TO Sc
CURE A MAJORITY IN THE SEN
ATE DURING THE NEXT FOUR
TEARS, HENCE WE SHALL BE
ENABLE TO SECURE ANY MODI-
FLGrATION IN THE TARIFF SAVE
TFTAT TO WHICH THE REPUBLI-
CAN MAJORITY IN THE SENATE
MAY CONSENT"
Mr.. Parker is evidently well enough
pasrgad on the way business had been
Afsasslrously affected by previous at
4aT1Dts to remodel the tariff on Demo
cratic lines, or else he would not
lR EaIS acceptance speech, while CIV
iug lit as his belief that there could be
"'a wise and benefcent revision OF the
aagTR'1 have further said, without Great
1iHg shat sense of uncertainty and in
gfa57Iity that has on other occasions man
sfesGed itself"
T1aere has, indeed, been a curious IA
GaXzfv in the coincidence of tariff reyis-
Ion. IN this country, with trade reaction.
Isfe Tariff Acts of 1872, Of 1888, and of
-IGsfA in every case accompanied or
9z1arfly preceded a period of serious com
vKserr7aI distress II cannot well be
questioned that the Democratic practice
OF ripping up by wholesale a compli-
aaGs=d import tariff is pretty sure to de-
nYzu@e at least one seasons plans in the
Industries affected, and it is apt TO throw
etft of employment thousands of people,
AISg 10 make a bad miscalculatlon as to
Grzure public revenue.
Following the new tariff law in March,
1883, public revenue decreased S5O,OOO,-
Gs9}ss an the twelve months ending with
TuHa. 1884, and something like $50, O0O,-
GGG In the fiscal year 1885; and in 1854
tho financial situation reached crisis.
%RG Gmancial uneasness of that year
caused 1884 to be considered a panic
year.
The Panic of 1898.
41 1893 a calamitous panic beginning
8a the spring months was synchronous
With that sense of uncertainty and in
pfaEfsity'' which had followed the cleo
Gsssg1 Of both a President and Congress
ygaa9ged to free trade. The passage of
45aa Wilson bill the following year ag-
mrawsted the industrial disasters. This
MG& net only did direct damage to man
nfanfuring industry everywhere through
cat Nae country, but it had disastrous eff
iAsefs on the nations credit because it
SsaWsed the revenues to drop heavily be-
YnEv che expenditures and thus forced the
Gavarnment to draw for its routine ex
wszxas on the treasury gold reserve,
4a&%aa was needed to preserve the gold
standard Of value. The revenue from
9AIS bill fell short of the estimates of
ITS democratic trainers by no less sum
tgxaH $S7,000,O00, and this, including it's
ss1Har import tax, which many of the
E2aqnaerat leaders, including President
CfEEsveIand himself, had been bitterly O.
naaed to. The bill produced deficit Of
GTA9z. sSft5, 223 in the fiscal year 1895, and
gGZsSSE-sgS,, .1245 in 1896.
Four years of gloomy business depres-
siqH throughout the country was the
nTice paid for this bungling attempt at
~a8ar5f reform" by the Democratic party.
Sn WAS marked by intense suffering on
sEra part of a large section of the Amer
Sean people who could get no work to
DO at even the lowest wages.
THAT SENSE OF UNCERTAIN
IFNV'i 1oc+oH f0I1r
aog.v wears. UNTIL THE ELECTION
,G8F y 3YILLIAM MCKINLEY. Those
sagrr years e{1S93-7) of Democratic free
sswaEF.7 uuife marked the saddest chapter
iEr american industrial history. The
lszsgess so the country industrially, inan-
e-7alTY. and commercially were probably
yreaefsr than during the four years of
6SvTY War, 1861-5 when the nations
s,satsrryc.ess were naturally enough strain
ssF ee the utmost, and peaceable indus
trIas pursuits had to be largely aban-
d0med- :
Two Periods Compared.
The actual business effects from
oTIT-&T SENSE OF UNCERTAINTY
.ANTD INSTABILITY" that Mr.. Park
Azx 4fs.ankly alluded to in his speech of ac-
laagszqsnae as occurring during one of the
ssga.v-asionS'' connected with tariff revis-
Son. are we'll portrayed by few con-
ilissxnaet9 random abstracts from Brad
sssrasas' covering the month of July,
1ssEs, when THAT SENSE OF UN-
.CSE1I&TAINTY AND INSTABILITY
saxnzSaag from the fear of tariff reduc-
19aa was exceedingly aggravated, and
sesss resulting in general business dis
IsssaT and industrial paralysis.
A Dark Chapter.
eIh@ abstracts, to which attention is
s@a2Ts1, follow:
"eTruIy 8, 1897: Operations were re-
summed on Monday in the Washington
nuaFI.s at Washington, r. l., employing
sly Te4vers.
cat a conference of the employing
-ryaatseagers and workers, New York, terms
sawux&5le to all interests were drawn up
ags3 agreed upon.
A1Ttg9e department and sheet mill Of
-sSsza yTaafRinp Iron Works resumed ODer-