Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1912-10-31

---gk. Eye..s~ q 'aNkes Tlns.cesat
66dHfFy bought their supplies from
day % daS, feafing to be caught with
blshprlced goods when the Iow-priced
Hood came a
And SO II happened that although
the Wilson bill was not actually pass
ga untfl late IN 1884 the panic began
lthe Day after the election or 1892. II
not what the Democratic presl-
dent and congress had done. Y but
wIiat everybody knew they intended
10 ao that wrought the havoc Indeed.
Il tie Wilson bill could have been
6asaed the any Cleveland was inaugu-
Hsss agss SssA asss u. d qhAs sa4H lHss NRIgI
actually occurred.
The Danger Of Uncertainty.
This country is big enough and rich
enough and resOurcefuI enough to ad-
just itself to nearly any tariff law, no
matter how bad II may be, II it only
knows what 1t Is. But during all the
long months Of debate over the bill
the business OF the country was, as 1t
were, hung up in the air. II man had
known that the duty on articles in
which they were Interested was to be
reduced ten per cent they could have
figured accordingly. n they had
known the duty was 20 be reduced 50
per cent or 100 per cent they would
have had some basis upon which 20
adjust themselves. But they did not
know what the reduction would be,
30 they had absolutely no basis upon
which to do their fifuring. They sim
ply had to wait and wait and wait.
keeping Just as close to shore as they
possibly could until the lcng agony
was over. That is the analysis OF the
panic from 1898 to 1897. and no mat
ter how vigorously the Democratic
text book may dispute II, It cannot
deny or refute II. s
Two Kinds Of Panics.
There Is some reason. Of course,
why the unthinking should charge the
for the panic of 1907
upon the Republican party. because
hat party was in power when the
,anic occurred But II is to be re-
that there are two kinds or
,anics, one due to loss Of confidence
n measures and the other due to loss
Il confidence in men. A political
'arty IL Justly chargeabIe with q bust
less disturbance duesto bad measures
Y. the fear Of bad measures: but Il IL
ot chargeable with responsibility for
disturbance brought about by the
Onduct OF men. II was the fear Of
furious legislation that brought upon
be country the disaster OF 1887.
ma therefore these diaasters are
larReable TO The Deaah0ratlc bayty.
dt the money strinsgncy OF 1907 was
ne absolutely b the frenzIod finan-
lsrine Of asgroup sof aSen 6peFadng
ntireiy oulaide % polities .ahd hAv.
& 20 epHnection wAatggsr Win the
pyernment Il was no@h here ehernRd
~ ths ppnie az laqs wep beepght
bout eigher, ~ legibI1 don NhieA the
epnbIican tArty lad snactef e kkaf
vns AFs1kshing u bkns Eslthtf
Isn nor sc any time slihs t@n hab
y Rdpublican tbeAsart bosn cEf9e3d
m hasinE brOu6ht Il aboot ana lzo
liy news lerislaftna iuhinh rs 0des
andsd -as the Outcoms Of 4 was the
neraency curreney law, TIE need Of
hich had never before been demon
rated 90 piAinly. 'and which was
omptly passed.
These are TIE facts IN relation 30
e panfcs of 1897 and Of IeoT. That
smocratic legislation was directly
sponsible for the aormer cannot be w
ccessfuIly denied. That Repnb-
an legislation vas responsible. d.
clly oF Indirectly. for the latter can ~
Z be sfuIly mnintained ~