Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1912-10-29
LIGHT ON Ancient
panic ARGUMENT
History Demolishes Republican
Claim That Democrats Make
Hard Times.
1893 WAS UNDER HIGH TARIFF

1898 WAS UNDEk HIGH IAkIff
The enemies of Democracy are max
ing their anticipated and regularly re-
curing howl-they are predicting hard
times II Woodrow Wilson is elected
president on Il Democratic tariff revi
sion platform.
The Republicans are claiming al
credit for present prosperity.
A glance backward will be worth
while at this time.
Every panic since the Civil war
originated and developed under Re
publican rule.
Of 1904 devoted much space to the
many business disasters occurring from
July, 1893, to November, 1894, intend
ing the public to attribute them to the
Inauguration of President Cleveland
in March, 1898. But the Republicans
fail to refer to the fact that the Re
publican tariff hw was in force dur
ing more than twelve OF the sixteen
months OF greatest business disasters.
MID 0SI u ~ ACO Ing
Mckinley tariff bill became a law
Oct. 6, 1890, and the first Indications
Of the 1898 panic were seen Nov. IL.
1890, scarcely more than thirty days
after the Mckinley law was passed,
and the panic reached its worse stage
in 1893 and carly In 1894, during
which time tAs Mckinley Law was in
full force.
Millions Loos Their Jobs.
1t may be recalled, too, that the
panic Of 1879 under Republican rule
and In a period of twelve years of high
tArin taxation. vas most disastrous
1t continued five years, 5000, 900 work
insmen were thrown out of employ
ment and bankruptcy ran riot.
In 1890 the Mckinley high tariff bill
was passed, and there were 1858
failures. followed by 1894 in 1891.
The tariff was raised to nearly SO per
cent. but wages toe still or de-
clined while the cost of necessaries
advanced.
The most serious labor troubles in
the history of the United States have
occurred under Republican high tariffs.
Some Lessons From 1907.
The Republican panic OF 1907 fur
Afshed another forceful refutation of
the Republican claim that Democratic
administration and hard times, lower
tariffs and panics have been co-e1-
Ss41ng.
h 1907. in the midst of prosperity,
Thousands of leading banks, with hun
dse4s of millions on deposit, suspend
a sAah payments. The trouble began
~ . result of . struggle between
great Now York financial institutions
Cor business.
. The New York post in October, 1907,
0niA:
CondoMa Themselves.
The certain and significant thing is
that It will be known as a Republican
and high tariff panic. Protest as Re
Juhlicans may, they will be held re-
sDonsible. Out Of their own mouths
the Republican party and the Dingley-
ties viii stand condemned. They fixed
In 1896 the standard by which they
cannot esc2pe being judged. In the
party platform OF that rear they re-
fered to h panic of 1893, and the
hard times following, squarely to
charge up the entire accountability to
the party in control OF the national
government, and the political infer
eoce vas stated With merciless logic:
Every consideration of public
safety n individual interest de-
mands that the government be res
cued from the hands of those who
have shown themselves incapable of
conducting it
. Nov. what are the Republicans 20
Ing to do when the Democrats hand
them back their poisoned cbalice?
A great emergency has come
and the high tariff is seen to be of no
avail whatever. 1t was to --eep US all
right and prosperous"
Because the country has Just got
over the results of a Republican panic
the president and his friends are urs-
ing us to perpetuate the Republican
administration" says the PHILADELPHIA
Record.
Business Depression.
AS soon ID business was checked
five years ago the steel corporation,
which was encouraged BY Mr.. Roose-
vent to swallow the Tennessee con.
Germ. then its most formidable poten-
tial competitor, drew it's fires and
threw about hall fts workman ont of
employment. Other industries did