The Republican journal., 1910-08-11
~COOD OLD DEMOCRATIC TINES.

To THE EDITOR OF THE JOURNAL
Those ''good old Democratic times" we
hear so much about now, remind US OF
the things where distance lends en-
schantment, etc. But they have no en-.
chantment to us who experienced them,
and no young man of reasonable intelli-
gence who has read our political history
will be allured by them to the extent OF
voting for their return. Some of the
older ones probably sigh for the good old
times that prevailed during Buchanan s
time, the last Democratic administration
before the war. In times of profound
peace it might be supposed that his party
could get along without running the ma
ton in debt. But the Democracy seem
to have a passion for debt and hard
times. When Buchanan came into office
the public debt was less than ten millions
of dollars, but on the first day of July,
1861, he had run the debt up!to nearly
>S8S, 600, 900, larger sum than it was after
the Mexican war! But that does not
show it all. When it became necessary
to is sue bonds, the Secretary of the
Treasury, realizing how hard it was
going to be to raise the money, advised
that the States be asked to endorse, or
guarantee, the loanl Just imagine the
credit of the United States getting so
low that it seemed to be necessary to get
endorsers for its paper! But it might
have been better if they had, for they
were obliged to pay as high as II per cent
TO some of the banks, and most of them
sold at large discount below par.
The last Democratic administra-
ton Cleveland's second term-was
repetition of Buchanan's so far as
running in debt was concerned. Dur
7ng the five years previous to Cleve-
lands second term the Republicans had
been paying off the public debt at the
rate of over $50, 900, 600 year. Now
note the difference. On February l,
1891. there came the first bond issue OF
$50. 900, 900, followed by a second issue OF
SGT. tNtl, lUlU more on .4NOF CilIDCi VI Viz
same wear. In the meanwhile the Will
son-Corman tariff law had gone into eff
feet on August %, 1894. On February
following third bond issue Of S62, 3l5,
900 was made, and in less than one year.
mr. on June u, 1896, q fourth bond issue
of 800, 900, 900 was announced, making
q total of over 1868, 600, 600 of bonds
issued during this Democratic period OF
peace. but not of progress and prosper
ity. The summing up of the +. Dun u
Co. Commercial Agency for December
30, 1898. gives very clear view of the
situation. 1t says:
s<Starting with the largest trade ever
known, mills crowded with work and all
business stimulated by high hopes, the
wear 1893 has proved, in sudden shrink
age of trade, in commercial disasters
and depression in industries, the worst
in fifty years. Whether the financial
results of the panic of 1887 were relative
Nv more severe, the scanty records OF
chat time do not clearly show. The
wear closes with the prices of many pro-
ducts the lowest ever known, with mil
lions of workers seeking in vain for
work. and with charity laborlng to put
back suffering and starvation IN all our
cities. All hope the new year may bring
brighter days, but the dying year leaves
only dismal record.
Ne, who we'll remember those good old
times" do not want any more of them, do
we? The worst adverse conditions were
inflicted in all of our commercial relations.
From 1892 to 1895 our foreign commerce
fell off about Is per cent. The balance OF
trade in 1892 was some 5000, 900, 600 IN our
favor. while in 1898 we actually had bal
ance against US of SIS, 900, 900! Our Gus
toms receipts, which had averaged S225,
900 600. fell in 1894 to Sl31. 900, 900 or
s7ea.rly 50 per cent. In 1890 the total
revenue from all sources was over S4oO,
900 600, but fell to less than $500, 600, 900,
IN 1904. Each year there was large
surplus in the treasury, but this was
changed to deficit OF $40, 000 900 in 1894,
S45. 600. O00in 1895 and S25, 900, 900 in 1896
The commercial failures indicate very
GleariV the cOIulLtOll VI lIe county. nus
in 1892 the failures amounted to S115, 000, :
800. while in 1898 they mounted up to
SS346, 900. 900, an increase Of over 200 per
cent. In 1896 they were 1925, 900, 900,
while since the Republicans nave returned
10 power they had averaged only about
s1O0, 900, 900 year. So we might go
over all of the affairs of the nation and
sind the same unsettled, disastrous condl-
4tlon of affairs. Itwas "revel of cheap
ness But while dollar would buy an
unusualamount of the necessities of life,
laboring men and women out of work
cannot get the dollar with which to buy,
and the cheaper the article the more
tantalizing the condition became. Amid
all this era of cheapness the saddest
ASPECT was that of our cheap men, men
who we're not needed at any price! Men
who could not support their families, no
matter how cheap the rent, or how low
were the necessities of life. What will
50 take the courage, yes, the very.llfe,
out of man as to feel that he is not
needed in the economy Of affairs, that he
,lonop6opt ,1nop him and