The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1904-02-25
Democr.tic cors.-x,t;,r,.

mind to do violence where sound meth
oil will achieve a better end. DemOc-
racy will pursue no hysterical purpose,
but rather q calm and scientific course
of eradication consistent with the least
disruption.
But, on the other hand, it will by no
means content itself with the kind OF
| conservatism expressed i'll Mr.. RoOse-
velt's famous back-down message on
the tariff and trusts, in which he de-
clared that the evils in these institu-
tons We're Overmatched by the good
and that to disturb the evils would be
dangerous. In fact, the operation of
attacking them at all seemed to him to
be so very delicate that he declined to
advise it. He announced the doctrine
of toleratiOn of ills and submission to
Injury.
Democracy will not consent to view
as necessary evils such matters as
Federal corruption, mulcting tariff pro-
lection and the palpable disorders of
the trusts.
Speaking upon the tariff. Representa-
tive Williams, In his recent and widely
read address, exhibited the sound and
tiscriminative views which character
ize the Democratic attitude, saying
that his party had no desire to demolish
the tariff at single blow, to explode
it with dynamite, or to pull down its
pillars and throw down the structure
with crash. 1t would require con-
siderable time to reconstruct a tariff
on Democratic principles. In his opin-
ion, though, the party's final intent was
clear. To Democracy tariff virtually
represents tax upon consumers. A
Democratic tariff, therefore, should as
nearly as might be provide for equal
taxation of consumers; for an equalized
charge upon consumption, or the thing
consumed.
Mr.. Williams thus correctly inter-
preted Democratic conservatism, Re-
publican conservatism is misnomer,
unless the English language has suf-
fered distinct loss of meaning. The
Republican party stands pat on its
Federal scandals, on the trust, ON the
tariff, and especially on its machine
organization now in the flower Of de-
velopment The Republican party is
lOath to forego the more abundant
fruitfulness which eight years perfec-
ton of a machine holds forth. 1t is
past record, its past policies; it is rig
idly held by circumstance to the de-
fense of its career, its purposes, its
attainments. Change Of attitude is
utterly denied 1t. Its forced position,
from which the times admit Of no es-
cape, is expressed in the unfortunate
phrase "stand pat; signifying extreme
negatiOn; excluding the idea of deter
mination to act, to improve, to move
at all; denying intention and suggesting
impotence Of will. "Stand pat" is the
position of a dire extreme, party
forced against a wall. Can there be
conservatism in such an ultra atti-
tude?
The country is thoroughly tired Of
"stand pat which denies not only the
possibility of remedy, but the existence
of essential wrongs. Democracy will
move along a middle course, carefully.
guarding against unnecessary damage,
seeking gradually to effect desirable
changes.-St Louis Republic.
Wall Street Draws in Its Horns.
The proposal of very small loan
in Wall street these days is sufficient
to set back the market and give it the
cold shivers up and down its finan-
cial backbone. Through sheer fear of
the voters, the Administration is
obliged to ask the banks to disgorge
about 20 per cent of the amount they
hold of the public money. 1t wants
it to pay the bOndhOlders Of the French
Canal Company and the Panama con-
spirators for the right Of way for the
canal These two payments amount
TO $5O,OOO,OOO. thirty millions of which
the banks will have to furnish. Be-
sides. a number of railroads are seek
Ing new loans, some to pay indebted
ness already contracted, and others for
As an indication of the extreme ten
sion Of the money market, though on
the surface it is made to appear in
normal condition, the Associated Press
announces from Havana that the
Cuban loan Of $35,OOO,OOO that the
Rockefeller and other Wall street in
terests had agreed to float, cannot be
taken, as the monetary conditions are
deemed unfavorable for the floating of
bonds at this time
This shows an enormous shrinkage
In the capacity of the banks and other
financial institutions to absorb even
the good loan offered and the inability
Of the public to buy bonds and securi-
ties of the best character. Even Wall
street has its limitations. and Rookie
loaded down with trust securities that
They must carry for a time. or until
| they can be shifted to other peoples
| accounts.
| Although the prices of bonds and
stocks have deprecated enormously
| in the past year, yet the public does not
seem to be attracted by the bargain
counter proposition, either through lack
Of money to purchase, or fear that the
lowest prices have not yet been reach
ed If the condition of the crops in
| the coming summer is favorable. it is
| probable that normal conditions will
prevail in the money market; but if
| nature frowns, look out for financial
trouble at the money centers.
Roosevelt's Extravaganza.
The same tendency to excess which
President Roosevelt displays in public
| matters generally is seen in the man.
| agement of his own affairs. The desire
to give brilliant and costly dinners,
expensive musicales and other enter