Polk County news-gazette. (Benton, Tenn.) 190?-191?, 1914-01-15
LIGHT ON ANCIENT
PANIC ARGUMENT
History DemoIlSh6S Republican
Claim That Democrats Make
HaTj Times.
1893 WAS URDiR HIGH TARIFF
Every Panic Since the Civil War Has
Been a Republican Pan'e-Gess0hs
From 1907 UpheaVal.


The enemies of Democracy are max
ing their anticipated and regularly re-
CURING nowl-they are predicting h'rd
times If Woodrow Wilson is eiecien
president On democratic tariff revi-
sion platform.
Ihc Republicans are claiming all
credit for present prosperity.
4 glance backward will he worth
while ut 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
Iulv. 1893, to November. 1894. intend
ing the public to attribute them to the
Inauguration of President Cleveland IN
March, 1893. But the Republicans ran
20 refer to the fact that the Republic
nm tariff law was in force during more
than twelve of the sixteen months OF
greatest business disasters. This facc
must he remembered-the Mckinley
tariff bill became a law Oct. u. lS9O,
md the first indications of the 1898
pnnic were seen Nov. II. 1850. scarcely
more than thirty days after the NC"
Einley law was passed, and the panic
reached its worse stage In ISL" ana
early In 1894, during which time the
Mckinley law was in full force
Millions Lost Their Jobs.
II may be recalled. too. that tne
panic of 1873 under Republican rule
and in a period Of twelve years OF hign
tariff taxation, was most disastrous
It continued ave years, 3.00leO WORK
ingmen were thrown out Of employ"
ment and bankruptcy ran riot.
In 1890 the Mckinley high tariff Bill
was passed, and there were lO,6'3 rali'
ures. followed by 1894 i'll 1891. The
tariff was raised to nearly 80 per cent
but wages nod still or declined while
The cost Of nacessaries advanced.
The most serious labor troubles IN
he history Of the United States have
occurred under Republican high tariffs.
Some lessons From 1907.
The Republican panic OF 1901 fur
ii ,hed another forcefuI refutation OF
ir Republican claim that Democratic
Illustration and hard times. lower
49, and panics have been cock
-,@
= 1907. in the midst Of prosperity,
gnu ands Of leading banks. with hum
-l..; OF millions on deposit, suspended
~r.I pcyments. The troub.e began az
| = MI Of n struggle between great
! o.. York financial institutions for bus
! ~,
| - New. York Post in October. 1901.
y;,i:
Condemn Themselves,
.nhp certain and significant thing ID
,o. II will be known rs u RepnhIlcan
, 1! high tariff panic Protest as Re-
'Ei ans may. they will he held re-
,sn4ihle. Out Of their own mouths
- Republican party and the Dingley-
IS will stand condemned They tixed
y 1896 the standard by which they
nnot escape being judged. In the
"lty platform Of that year they REFER
4 To the panic of 1893, aud the hard
mes following, squareIy to charge up
'ie entire accountability 10 the party
II control of the national government.
nd the political inference WAS stated
with merciless logic:
Every consideration of public safe-
~ and individual interest demands that
The government be rescued from the
hands Of those who have shown them
selves incapable of conducting 1t.
Now, what are the Republicans go
ing to do when the Democrats hand
them back their poisoned chalicel
A great emergency has come
md the high tariff Is seen to be or no
avail whatever. II was to keep us all
rich and prosperous"
Because the country has just got
over the results Of a Republican panic
the president and his friends are urging
us to perpetuate the Republican admin
istration." says the Philadelphia Rec
ord
Business Depression.
las soon ns business was checked
Eve years ago the steel corporation
which was encouraged by Mr.. Ronsc
welt to swallow the Tennessee r"i,'
Germ, then its most formidable po'"n
tial competitor. drew its fires ana
threw about half its workncn ont ni
employment. Other industries diu much
the same thing. There was ~
extensive stoppage OF mills in Phi'a
delphia.
THE Republican candidate for con
gress In the Kensington Richmond dis
trict is using the soup houses OF lSl3
ms means Of soaring the wage earner'
from voting the Democratic ticket
Those soup houses existed under the
Mckinley tariff. But there have beer
more recent ones After 1907 there
we're soup houses In the Kensington
Richmond district, aud everybody wht
WINS charitably disposed was begged