Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-05-08


We had the insurance
scandals, we had the railroad deals, we
had lights turned on the methods of
high finance, we had the light turned
on the speculations by the copper SYN
dictate and other syndicates, and the
immense amounts of water in capital
stock, and the very moment that these
things came into the public view the
breath of suspicion became manifest
and the crisis came.
You say that it is Republican panic
because we say that the panic of 1898
was a Democratic panic, but there is
no analogy between the present panic
and the panic in 1898. That panic came
in with a Democratic Administrations
stayed with a Democratic Administra-
ton, went out with a Democratic Adj
ministration. Applause on the Re
publican side.1 Why, we have been
eleven years
Mr.. GARRETT: Can you state with
what Administration this panic will
go out"
Mr.. DALZELL: | am very sorry can
not, but | think very soon under Re
publican Administration.
Mr. GARRETT: 1t will go out with
the Republican Administration. Zap
plauSe on the Democratic side.
Mr.. DALZELL: 1t will never go out
with a Democratic Administration, be
cause there will be no Democratic Ad
miniStration. Whether the panic be on
the way to improvement now or not,
the people of this country will never
seek relief by clecting to office q party
that is unsourd on all the principles
that lie at the base Of good government,
sound money and the protective tariff.
loud applause on the Republican
Sidc.1 Do you suppose. in the present
condition of things, the peop!n Of this
country are going to cal! into power
the Democratic party, in view of it's
history in the past with respect to all
the important legislation necessary 10
relief from the present condition of
things? Certainly not.
l repeat, there is no analogy between
this panic and the panic of 1893. That
ensued from a lack of confidence in
measures, this from Il lack Of conf
dence in men, Then the National
Treasury was empty, now it is full to
overlooking. Then bonds We're issued
to pay current expenses. The late bond
issue was to furnish the currency the
people needed Then the balance OF
trade was against us, we owed foreign
ers: now the balance of trade is i'm our
favor, foreigners owe us.
The most remarkable thing about the
whole situation is the suddenness with
which the crisis passed. That consti
tutes the most convincing evidence of
the really prosperous condition of the
country. we are now in the aftermath,
but things are Improving. Men are
gradually being restored to work.
There ore no unemployed that can not
readily Ee cared for. There are no
bank failures to speak of, no savings
bank ~ trust company failures t.
speak of. There are no railroads in the
hands uf receivers.
In my Judgment. ollr return to nor
NAL conditions is not very far off.
Whether there be necessity for curren-
cy Legislation | 90 not pretend to know
know, and that is that the people of
this country viii never trust currency
Legislation to 4 party which has in turn
advocated reputation Of Inc national
dc1t. .i;tt money and the making Of
loIJE Genus ol SILVER al uolitti ny law.
The gentleman from Missouri, in the
beautiful Eeroration in which he closed
his address, ca He'd upon mis- Democratic
brethren to rally in support of the
principles of the Democratic party. |
The gentleman did not intend to he
humorous, but he was. The Demo- !
cratic party has 10 principles that can
be identified. Laughter and applause
on the Republican side.l Even on
such Il well defined issue as the tariff |
it is unprincipled. In the Jackson cant
paign of 1872 it was for IAN adequate |
protection to American industry" in
lS4S it was for free trade In 1868 it was |
for a revenue tariff with incidental pro- |
lection In 1872 it trailed along under
the banner of Horace Greeley, the
prince of American protectionists. In
1904 it declared protection to be rob |
berry
Democratic principles indeed, What
are they now?
They are all embodied in the Peer
less" Laughter and applause on the |
Republican side. He still believes in |
the free coinage of silver at the ratio Of |
sixteen to one without the cooperation |
of any other nation. He believes i'll |
the government ownership of railroads
He bellows in the initiative and refer
endum. He believes in invading the |
rights of the States by passing Fed |
eral child labor law. How many other |
crank notions he believes in only time |
will tell.
You believe in him, and I am only |
sorry that there is even a suspicion of
a difference in Nour ranks The gentle |
man from New Jersey voiced it the |
other day The Virginia Democratic
1T d meeting in this city |
in October last, voiced it in a preamble |
and resolution which We're published |
in the Washington Post l will read as
follows:
Whereas William Jennings Bryan, the |
great commoncr, as we'll us the great |
lnconn' Oner- the great advocate of free |
silver. the great advocate of government |
ownership of railroads: the great adVO- |
cate of initiative and referendum the |
greatest blower upon earth the greatest |
candidate upon earth; the great |
est man without record known in |
American politics is threatening again to |
become a candidate of the Democratic |
party for the President Of the United |
States: Therefore be it
Resolved, That it is the opinion of this |