The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1912-10-25
LIGHT ON ANCIENT
PANIC ARGUMENT
History DemOliSheS Republican
Claim That Democrats Make
Hard TiRles.
Every Panic Since the Civil War
Has Been of Republican Orig
I'm, Including 1898.

The enemies OF Democracy are max
Ing their anticipated and regularly re
curing howl-they are predicting hare
times IL Woodrow Wilson Is elected
president on Il Democratic tariff reyi
sion platform.
The Republicans are claiming al
credit for present prosperity.
A glance backward will be worth
while nc this time.
Every panic since the civil war orig,
mated and developed under Republic,
an rule.
The Republican campaign textbook
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 Republic
an tariff law was in force during more
than twelve Of the sixteen months of
| greatest business disasters. This fact
must be remembered-the Mckinley
tariff bill became a law Oct q, 1890,
and the first indications Of the 1898
panic were seen Nov. II, $780, scarcely
more than thirty days after the Nc
Kinley law was passed, and the panic
reached its worse stage in 1893 and
early in 1894, during which time the
Mckinley law was in full force.
Millions Lost Their Jobs.
1t may be recalled, too, that the
panic Of 1873 under Republican rule
and in a period of twelve years Of high
tariff taxation, was most disastrous.
1t continued five years, 100000 work
ingmen were thrown out OF employ
ment and bankruptcy ran riot
In 1890 the Mckinley high tariff bill
was passed, and there were 1868 fail
ures, followed by 1884 in 1891. The
tariff was raised to nearly 80 per cent,
but wages stood still or declined 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.
nished another forceful refutation of
the Republican claim that Democratic
administration and hard times, lower
tariffs and panics have len cock.
listing.
In 1907, in the midst of prosperity, !
thousands Of leading banks, with hun.
dreds of millions on deposit, suspended
cash payments. The trouble began as
a result Of a struggle between great
New York financial institutions for bus
mess.
The.New York Post in October, 1907,
said:
Condemn Themselves.
"The certain and significant thing is
that it will be known as a Republican
md high tariff panic. Protest as Re.
DubElcans may, they will be held re-
sponsible. Out of their own mouths
he Republican party and the Dingley-
ties will stand condemned. They fixed
IN 1896 the standard by which they
cannot escape being judged. In the
party platform Of that year they refer
'ed to the panic of 1893, and the hard
lines following, squarely to charge up
he entire accountability to the party
II control Of the national government,
md the political inference was stated
With merciless logic:
Every consideration of public safe
y and individual interest demands that
Ire government be rescued from the
lands Of those who have shown them
elves incapable Of conducting it.
"Now, what are the Republicans 60 ;
ng to do when the Democrats hand (
hem back their poisoned chalice? I
A great emergency has come s
md the high tariff is seen to be Of no
wall whatever. 1t was to keep us all ]
ich and prosperous" s
Because the country has just got {
'ver the results of a Republican panic
he president and his friends are urging {
Is to perpetuate the Republican admin t
stration." says the Philadelphia Rec I
rd t
Business Depression.
"As soon us business was checked =
i've years ago the steel corporation, :
which was encouraged by Mr. Roose- y
elt to swallow the Tennessee con- !.
ern, then its most formidable poten- =
lal competitor, drew it's fires and =
brew about half its workmen out of
mployment. Other industries did much -,
he same thing. 3" There was an :.
stoppage of mills in Phila- II
elphia. :,
"The Republican candidate for con- =
ress in the Kensington- Richmond dis g
rict Is using the soup houses Of 1893 n
s means Of soaring the wage earners
rom voting the Democratic ticket ii
hose soup houses existed under the a
IcKinley tariff. But there have been ii
lore recent ones After 1907 there s
yere soup houses in the Kensington-
,ichmond district, and everybody who rt
,as charitably disposed was begged IL
Dr. contributions to feed the people I'll
Tho were out of employment" ID