Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1912-10-25
: TIE PANIC sARGBMENT.
a sc Always have lard tines,

4
IDS We Always ssR ssiis Hard times,
Eelosed factories bankruptcies ard
soup kitchens when the Democrat +;
are in power?' asks she; New YORK IN
Times. 'Contrariwise, does the sub
always shine en- the happy land ana
prosperous people when a RepuhlEi
can: is in the White House? That IS
the argument of the managers OF igf.
Taft's campaign. In the appeal Tor
funds to help elect, a Republican Cor
gressman;in one Of the district IN TINS
city. it is set forth that "the only ln-
.rsurance against a repetition ot the
."disastrous times which. soli,wSed
.'the election of Cleveland in 1892 IS
"the election of Mr.. Taft an da Repuo'
slican Congress" One Of tie lie
publican campaign advertisement
puts this question. "Do you rcmem-
'sber any Democratic administration
that did not bring hard times? Run
mo risk. Vote for Taft
These gallant warriors in the cause
Of protection have short memories
The curious Republican theory that
the panic of 1898 was due to the VII
son bill of 1884 has been riddled a
thousand times, but the party Il pro
lection patches up the mlsshapen
thing and trundles it out again on
every occasion. 1t is the best they can
do, The first administration OF GfoVel
Cleveland did not bring hard times
On the contrary, the country vas Sc
prosperous that the Treasury vas en-
barrassed by surplus revenues. MI
Cleveland left a great treasury sur
plLs to his successor. The HARRISON
administration got rio o. It SO e.-
fectively that before the end OF his
term of office Secretary Shaw was
castin gabout for means to strengthen
the gold reserve. The Republicans
have forgotten all that. ;,
But can't they be induced to push
their historical researches ll''ie
further back? There was a panic III
1873 the very worst in our history
The paralysis of our manufacturing
Industries was general, banks col
lapsed. there we're bankruptcies ana
receiverships on all sides. In i5s
frustrating effects this panic was
worse than the free silver panic
twenty years later. Was 1T Demo,
cratic panic? Was it panic cause"
bv tariff revision? Ulysses >.
Grant, a Republican, was president
If the United States at that Tune.
protective duties were high and mad
NOT been lowered. Yet woolen mills
cotton mills, every kind OF manu-
featuring establishment in the Ne"
Encland States and elsewhere SUI
fored from the dreadful trade deprcs
zion. great numbers of them closing
tba;r doors. Mir. Taft, in his state
mcnt made at Beverly the other da!'
dwelt feelingly upon the suffering
that prevailed in 1S94-lso'VV' per.
rons dependent on charity in th's
citv alone, and tens of Thousands OF
men and women being out o. worH .
There was unemployment II 10 10
and for six years afterward, Until q
,reat crop put US on our tcc' once
more.
Put this is all foreign to The he-
publican purpose. Mir. Hiiiee ana
the managers will have it thai the
nomocrats arc black-heartcd con-
sn;rators, plotting he ruin OF the
country's industries; that the oi'y
possible way to avert panic ana
trade devastation is to elect Mr
Taft The Democrats might base
Tho same argument on the panic OF
1873 during a Republican Admins
tr,tion But the panic argument Is
si,lv It implies a mighty poor opiH'
ion Of the intelligence of the voters
# denotes desperation or somethlh4
worse in those who make it. Oul
Presidents are the authors neither
Of our nanics nor Of our prosperit?
What puny creature President
is compared with a ten-billion'solia'
crop" -