The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1904-09-28
There Is No Depression.

There is an effort on the part Of
some democratic newspapers and a
few blatant orators to create lack of
confidence in the public mind by say
ing the country is going to the bad;
that great industries are shutting
down; that the railways are retrench-
ing, instead of improving roadbed and
equipment; that no new factories are
being constructed; that thousands Of
working people are idle and that re-
publican prosperity is myth. These
statements are so palpably false or so
greatly exaggerated that intelligent
persons are not misled by them, but
there is danger that when the canards
are reiterated by the calamity howlers
few people who do not keep closely
in touch with industrial and CONNER
cial conditions may be led TO believe
them.
Any man or newspaper that deliber-
ately attempts to create distrust in
the financial or commercial world is
little less than criminal. Some states
have punitory laws framed for the
purpose of sending to prison persons
who circulate untruthful rumors
about banks and trust companies. II
the man who causes run on bank
by spreading false report is crimi.
nal, Is not the man or newspaper that
attempts to make capital by destroy.
ing public confidence also criminals
And, by the same reasoning, Is not
the party that permits or endorses
the utterances Of the calamity bowler
and spreader of false rumors an enemy
OF the law?
Suppose the democratic party won
a victory at the polls through de-
stroying confidence in commercial and
industrial circles, would the admins
tration of that party have the cont
dence of the people? Would not CAPT
tai, which is always tiInid in the face
OF uncertainty, begin to hide? AnC
when capital is distrustful what hap
pens? Industries lag or close, trade
Of the retail merchant falls Off, the
jobber and wholesaler suffer, railway
traffic diminishes, hundreds of thous
ands of wage earners are thrown out
OF work, distress becomes general
soup houses are opened and cities are
compelled to begin charitable works
for the idle.
No political party that countenan
ceS the creation OF diStruSt is worthy
OF the peoples confidence. 1t will be
a sorry day for the country when the
calamity howlerS succeed in reversing
those beneticent policies which the re,
publican party has put into effect and
which have resulted in an era of the
greatest prosperity any nation has
ever known.
That industries and business of al
kinds continue to prosper there can be
no doubt. The few strikes i'm the
building and other trades are not in
dicatiye of depressed conditions
Wage earners do not strike in time.
OF panic or waning prosperity. Strikes
are generally for higher wages, and nc
toller expects an increase in wages
when work is scarce and thousands o.
, his fellows are idle
There is ample evidence that pros
porous times are still with us.
glance at the newspapers, democratic
as well as republican, shows that mil
lions of dollars are being expended il
building new factories and enlarginl
old ones, in constructing new trolle'
lines and improving the roadbed anC
equipment of steam railways.
More persons are employed now thar
ever before. AS proof of this state
ment, take, for instance, the railways
whose traffic always is a reflex Of bust
ness conditions generally. The mum
Der OF employees on the pay rolls of the
railways in the United States on June
80, 1903, was l,3l2, 537, or G39 per lOC
miles Of line. These figures, compar
ed with those of 1902, show an in
crease Of ~, DID,, or As per 100 miles OF
line.