Gainesville daily sun. (Gainesville, Fla.) 190?-1938, 1907-11-09
RFPUBLICAN TARIFF
CAUSE OF PANIC
s,,s is Opinion of Washington
Correspondent.
-.sAsvRy is SHORT OF FUNDS

Has iSSueu S@'
nursing officers Of Part OF Funds to
Their crsdlt-sOme Interesting
Figures
.,c,,rrssnondeuce TheDally Sun.
sbington. D. c.. Nov. SIN spite
, tho declaration of the last Repubh'
IAN National Convention that Repub-
Ito, tariff has always been followed
49, business prosperity, and similar
,,,,ocions boasts Of President Roose-
II, in mis- letter of acceptance and
.,oches an unfortunate panic is play
49,. havoc in our financial affairs.
y,,bing else is being talked about in
,o,itical circles. Secretary Cortelyou
aoc,ares the worst of the storm is
over but the news from the West
world indicate the worst may yet be
- core. The closing of the chief
s,ring wheat market Of the country
,t Duluth. and the paralysis OF the
market in Chicago and elsewhere, in
consequence of the lack Of money, and
rho determination of the banks to
hustle their resources Is anything but
= cheerful prospect. The farmers
will of course, suffer and wheat, cot
ton and other agricultural products
have already fallen in price. Those
farmers who are able 70 hold their
crops until the panic subsidies should
by all means do so, for the demand
from foreign countries will lead to
higher prices for wheat and cotton
next spring, If not before. This evil
dence now produced, that the Repub-
lican policies of high trust-protect-
ing tariff, and of giving every advant-
age 70 the banks. have built up a bo-
gus prosperity that at the first ad-
verse wind is no more stable than
the childs house of cards, Is proof
that Republican policies produce panic
instead Of being panic-proof as brazen-
ly hoasted With fifty per cent more
money per capita in circulation, and
the supply constantly increasing the
banks are unable to pay their debts
when called upon. The Republican
policy Of aiding the Wall Street banks
with all the spare money in the
Treasury, except a few millions to
pay the current demands upon the
Government is not only unlawful,
but grossly unfair to the more con.
sentative bankers Of the South and
West who have TO bear the burden OF
providing the funds to move the
,Apl" crops. The only excuse for
President Roosevelt in carrying out
his policy IS that he has taken the
ADVICE OF those mixed up in the Wall
street game. or has allowed his New
,oFs btth and training TO lend him
20 me rescue OF the frenzied finan.
'eT, rather than ordering a square
zeal between all sections. This
A..rl'-m TO the Wall Street interests
.' 'h'"n by his ELUSIVE thanks To
secretary Cortclyou and the not hid.
d"' though unnamed approval of
MORGAN and Rockefeller for putting
w '''r millions to try and stem the
.' How little these financiers de-
..'.' p" thanks OF the Chief Magis-
. d" 'ao country is at once seen
'.' TACT that they demanded
rates for their money, which
.p have extended To 80 per
I'D. can hardly be called a pub
actor who charges his less
GLOW citizens usury. under
'r.'ug circumstances. The
Nat the Rockefeller mil
'paued AT 6 per cent can
'nNu TO be a fable. as far
q" amount is concerned II
of the panic could be con
Wall Street there would be-
Tears he'd. but unfortunate
or business must now SUI
.guencc az the unsettle-
..auc.1i affairs In New York
'hc large money ccnteTs
Foo be- feared that the banks
money ccntcrs are not 80
applied with cash as the
.r'ormation given at
''. for the Secretary Of
has received calls from
''~ principal rites ~ the
.' t may BE- necessary TO