The Bourbon news., 1912-10-25
History Demo|ishes Republican
Claim That Democrats Make
Hard Times.
1893 WAS UNDER HIGH TARIFF
Every Panic Since the Civil War Has
Been a Republican Panic-Lessons
From 1907 UpheavaI.

| ing their anticipated and regularly re-
curing howl-they are predicting hard
times if Woodrow Wilson is elected
president on a Democratic tariff revi-
sion platform.
The Republicans are claiming ali
credit for present prosperity.
A glance backward will be worth
while at 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, 1893. 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 law Oct. 6, 1890,
| and the first indications of the 1893
| panic were seen Nov. II, 1890, 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. 1878 under Republican rule
and in 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 1O,673 fail
ures, followed by 1884 in 1891. The
tariff was raised to nearly so 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 been 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 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
and high tariff panic. Protest as Re-
publicans may, they will be held re-
sponsible. Out of their own mouths
the 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
red to the 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 inference was stated
with merciless logic:
"'Every consideration of public safe
ty and individual interest demands that
the government be rescued from the
hands Of those who have shown them
selves incapable of conducting it,
"Now, what are the Republicans 60
ing to do when the Democrats hand
them back their poisoned chalice
A great emergency has come
and the high tariff is seen to be Of no
avail whatever. 1t was to keep US all
rich and prosperous"
Because the country has just got
over the results Of Republican panic
the president and his friends are urging
us to perpetuate the Republican admin
istration," says the Philadelphia Rec
ord.
Business Depression.
GAS soon as business was checked
five years ago the steel corporation,
which was encouraged by Mr. Roose-
welt to swallow the Tennessee con-
cern, then its most formidable poten-
tial competitor, drew it's fires and
threw about half its workmen out of
employment. Other industries did much
the same thing. There was an
extensive stoppage Of mills in Phila-
delphia.
1.-The Republican candidate for con-
gress in the Kensington- Richmond dis
trict is using the soup houses of 1893
as means Of soaring the wage earners
from voting the Democratic ticket.
Those soup houses existed under the
Mckinley tariff. But there have been
more recent ones. After 1907 there
were soup houses in the Kensington.
: Richmond district. and everybody who
was charitably disposed was begged
for contributions to feed the people