The Bridgeport times and evening farmer., 1922-09-21

Iliquidated. To avoid these evils and | to insure a bNsiness-like revision of the tariff the last Democratic admins l tration created a tariff commission It was hoped that we had finally taken the tariff out of politics. This
 commission has now been ignored, the tariff has been dragged back into the
 arena of politics and the present bill
 represents a foreclosure of the claim which was held by the privileged
 classes upon the Republican party.
 Republican newspapers. business | organizations largely dominated by
 men of Republican preference, indf- | vidual Republicans of high standing and wide repute as manufacturers and importers have combined to denounce the bill as a scheme for the wholesale
 robbery of the American people. The New York Tribune calls the Senate
 bill a monstrosity." The Boston | Transcript characterizes it as "a dis
 grace to the party in power and a 1 menace to the nation which was de- | vtsed by "a conspiracy between pork barrel politicians and special interests 1 for the two fold purpose of re-elect- ing the politicians and paying new tribute to the special interests" The Chicago Tribune and the Springfield
 Union, both Republican papers, admit | the justice of these criticisms. There 1 can be no doubt that the toll which | the American people will have to pay
 in increased cost of living under the | operations of this bill will be stu | ipendous.
 Why are Republican leaders so I loath to learn the simple lesson that a l nation cannot sell without buying, that foreign and domestic commerce are not different things but only diff | ferent aspects of the same things.
 Our country today has the largest | stock of gold in the world. It is pro- | ducing and manufacturing essential l a pacity to consume them. And yet in the face of this patent condition, the attitude of Republican leaders from the close of the war to the present time has been insular and unintellf- gently selfish. No nation having | having means of production far in | excess, of consumption can deliber- l ate1y cease commercial intercourse with other nations or establish condi- | tions which make that intercourse difficult or imp ossible without in the end bringing disaster upon itself. There can be no return to substantial sordid policy of isolation Is abandon ed and helpfcl policy of co-opera- l tion substituted. In this way only can the economic equilibrium of the Panics
 Senator Brandegee takes occasion to revive an ancient islander and
 speaks of Democratic rule and Dem- ocratic tariffs as producing hard Itimes, soup houses and similar ac- compartments of industrial distress This pious sentiment has a familiar sound. In view of the great prosper ity experienced by this country during | eight years of Democratic control and
 in view of the fact that within a few Paonths after the inauguration o1 President Harding more than 5,000,- 900 men were thrown out of work
 such an assertion carries with 1t the characteristics of sublime fatuity. Ev. cry panic that this country has endur-
 ed since the Civil War has been under
 a Republican administration or dur. ing a period when Republican lawG
 were upon the statute book. The panic of 1873 occurred during a pc.
 riod of undoubtsd Republican con Itrol. The panic of 1884 occurred un. der similar circumstances. The panic
 of 1892, beginning in Europe ana sweeping its way across to this coun: try, had reached it's continuation al
 the time when Grover Cleveland was linaugurated and while Republican laws were still upon the statute books
 The panic of 1907 occurred under the administration of President Roose-
 they were financial in character, were due directly to an archaic system o1
 finance which the Republican party had fostered and maintained for more
 publican party had talked about re. | vising the financial system. They were unable to revise 1t because those
 who controlled the Republican party were financially interested in the
 maintenance of the old system, and 1 feared loss of their power.
 By an adroit propaganda and by the process of continued retieration believing that these panics were, ir
 some mysterious way, due to the
 threat of Democratic domfnancy 1T the government. When the Demo. II a~fx passed the Federal Reserve Act over l the concerted and bitter opposition o1
 all the great Republican leaders. Thai act, together with many other meas
 ures, scientific, Humanitarian and pro.
 gressive, marked a period of extraor. l dinary progress in legislative matters
 in this country. Financial panics arc
 practically impossible under the bene. law. Under it, America was convert. ed into the greatest creditor nation o1
 the world and we were able to finance without shock or strain, the operation:
 incident to the great war. The Fed
 eral Reserve System still stands a. the great bu1wark against financta ipanic. Even the industrial depression
 which has spread over this country beginning shortly after the Republi
 can party went into power in 1921 ana which has continued ever since, ha. been unable to shake or undermine the Federal Reserve System.
 The Policy of Isolation
 This industrial depression was di rect1y due to the colossal slump if our export trade, and was tho i'm mediate resultant of the Republican policy of isolation. American farm
 CTS have suffered losses since the Re publican party was voted into power , in November. 1920, to an amount az gregating s30.000,o0o,o0o. This vas sum was swept away by the Renub ' Iican industrial panic of 1921 ant 1922. Several million American work ingmen were thrown out of work anc a staggering blow was struck a , American prosperity. Up to the tim,
 that Republican victories impaired i, American prestige and lowered tn tone of American morale, things wer, ] going we'll with America. Americ;