Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1908-10-02
THE WORST PANIC.

liz NOnCl i n MI.
PANIC 1907 WORST THE WORLD
HAD EVER EXPERIENCED.
And 1t Came Under too High Prices of the
Tariff and Republican Control in Every
Branch Of the Federal Government II
Only Avertcd by the Government Open-
inc the Treasury Vaults, the last Alter
native.
In public address. Mr.. Shaw. re-
Gently Secretary OF the Treasury un.
Ter Mr Roosevelt said: "The strin
cency Of 1907 is generally conceded to
have been the severest the world has
ever witnessed"
How consoling II is to read In the
republican Platform this glowing sen.
tence: "A Republican tariff has al
ways been followed by business pros
pcrity."
Mr. Alirich. In his speech on the
/ Aldrich Currency bill in the Senate OF
the United States only last winter.
said:
Mr. President, the financial crisis
from which the country has just
emerged. which eliminated in serious
panic In October. was the most acute
and destructive In its Immediate con.
sequences CT any that has occurred In
the history Of the country. Nothing
| but the heroic measures taken by the
representatives of the great business
and financial institutions OF the coun.
try acting in cooperation with the
Secretary OF the Treasury. prevented
total collapse OF private credit and
a disastrous destruction OF all values
The country was saved by the mar
rowest possible margin from an over.
Whelming catastrophe. whose blight.
ing effect would have been felt In
every household"
On February II. 1908. Mr. Shaw, II
q speech he made in Michigan. said:
over 300,0 freight cars are stand
ing on the tracks. 10000 locomotives
white loaded and out OF commission
one fourth of the population of several
large cities idle. and for the first time
under Republican administration,
free soup houses in every Industrial
center; the price Of farm produce nat
urally and materially deprecated
g. II
to produce a measure Of sobermind
edness on the part Of the American
people"
following news item coming from
PittsburG. Pa. Feb. S. 1908:
The cry OF the unemployed daily
grows more distressed in Pittsburg
There are $1,000 men idle. and the
spectre of the dreaded soup house:
again makes its appearance. The first
soup house will be opened by the Sal
walton Army Monday morning. and
unless there is radical and prompt
change for the better. more places oil
this kind will be in demand before
many days have elapsed The situa
tion IS not really alarming. but 1t Is
bad enough. Soup houses have been
the dread OF the business men and
civic leaders. and every effort has been
made to avoid them"
Here Is the following news item
from Chicago. dated Feb II. 1905:
Chicago. Feb. II. 1908 Never In
the history Of the Chicago Relic! and
Aid Society has there heen such a
demand foT assistance as at the pres.
ent time. is the claim Of Superinten.
dent KinGsly. who is in charge OF the
distribution OF funds by the business
mems relief committee. which has just
raised between $25 900 and 10000 for
needy families Never In the history
OF the society have we had so many
appeals based entirely on the lack OF
employment"
Not long ago Mr.. Dalzell, who writes
the tariff tax. recently as dictated by
the men who put up the money to p1y
the expenses OF republican campaigns
told us:
I'VE do not read our tariff lessons
out Of books We read them by tho
blazing light OF open furance doors.
amid the noise of industrial activities
and In the sweat Of our brows that We
coin into wealth. and God help the
man or party that would put out these
fires. still he music OF that noise. and
send the workmen home to foodless
and h:AerY household
ut was un'cr republican rule that
this music was stilled. that the fires
were pat out. and that soup houses
had to provide for the foodless and
hungry"
No longer can any Republican ever
fool the people by claiming that "a
republican tariff has always been fol
lowed hy business prosperity
The time has Come-the hour has
s.-uck-.S: = "han0e Thousands of
rppublicans take their positions ara
-id vote fer Ervan in November
Revision.
II Is an old-time Republican cry that
"the tariff VIII be revised by its
friends" Representative Mccall Of
Massachusetts. a Republican, hit the
nail on the head when in referring to
this CRY he said. III the tariff cannot