Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1912-11-01
TRUTH ABOUT THE
CLEVELAND PANIC
Editor of the clinch Valley News ::


during the near 1892? can readil,
understand why Republican paper.
and sPell-oiuders talk about the PAM,
of 1893, as though the panic com.
monty known as the panic of 1893
started in that year for they usually
try tn win votes through misrepre-
senta'i m. sometimes their misrepre-
sentat'on Is due to ignorance, some
times it is wilful and malicious. The
pane of 1893 began In the winter of
1891 when Benjamin Harrison was
President of the United States, and
during the year 1892 business was at
standstill end the country in state
of decentralization just as much so as
during the year 1893
The Republicans lay the panic of
1893 at the door of the Wilson tariff
bill, when the Wlso1 bill was not
passed until August 1894 1t was
therefore not the Wilson bill or
Grover Clevel'nd' administration
that clused the pl'ic charged to n
democratic adm'nistr ton but the Re-
publican crimes under Harrison, that
laid the foundations fnr distress and
created conditions which threatened
the country with policies of dlshonor.
Mr.. Harrison and the Republican Con-
grcss elected with him reduced the
revenues, squandered the surplus. in
creased the expenditures and inaugur-
ated System Of general prongacy
which alarmed and amazed the coun-
try and that is what brought about
the election of Grover Cleveland in
1892.
The statements and charactcrza-
t;Ons of the Wilson bill by T. Roose-
welt Et ais are absolutely false and
without foundation, for the Wilson
tariff bill did not, destroy
American manufacturing or "check
foreign trade" but on the contrary,
the exports of American manufactur-
ed goods which amounted under the
Mckinley tariff law, while Harrison
was President in the fiscal year 1892
only to $15S, 100000, so Increased
under the Wilson tariff law that for
The fiscal year 1896 they were not
l. IS than 1928. 100000. While under
Roosevelt in what he terms Chimes of
profound peace ard prosperity, Gus
toms amounted to only 1892, 600, 900
in the year 1908 and during tn fiscal
year 1909, part OF the year under The
administration of I. Roosevelt ana
part under the administration of Wm.
II. Taft, the customs revenue auount-
ed to only 1927. 100000, although
they try to induce the voters of this
country to believe that during those
years under Republican administra-
ton The Country Was in most pros
porous condition.
When Republicans assert that the
Wilson Tariff law reduced The demand
for the labor of American working
men, they are under obligations to
establish that fact. What proof have
they that the demand for American
labor was less under the Wilson tariff |
than under the Dingley tariff or under
the Payne ldrich tariff? If their as
sertions are true they can easily |
establish the fact by Statistics. In
1890 William Mckinley asserted that |
wages in protected industries had ad- |
vanced nuder his tariff law, and yet |
upon an oft repeated challenge he ut
terly failed to point out single in |
stance in which any such thing had |
occurred. Is the present similar asser-
ton made by Theodore Roosevelt,
William Taft and their adherents
equally without a foundation OF fact |
Is it fair, is it just, is it honest for
them to make such an assertion if |
they cannot prove it?
The Wilson law was not free trade |
Legislation and Republicans who
know anything about the Wilson tar
if law knows it as not "free trade |
legislation yet they try to make the
voters of this country believe it as a |
free trade law. The Wilson tariff was
higher than the Republican tariff of |
1883 under which labor was amply |
protected, and was so per cent higher
than the Monvil tariff. So again
ask. Is it honest or fair to call that
"free trade?
The Wilson bill did not ENTAIL
upon the Government deficient rev.
enues" as claimed by Theodore Roose-
welt, followers of the Bull Moose,
as well as the Republican newspapers
and orators.
But for the Supreme courts anomal-
Gus decision declaring its income tax
feature unconstitutional; the Wilson
measure would have produced ample
revenue to pay all government ex-
pensess and leave surplus, and when
that source of revenue was destroyed
it was Republican Congress, elected
in 1894, which refused to increase
ths beer tax or do anything else to
repair the deficiency. Is it fair, is it
honest, is it manly under existing
circumstances for the Republican