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"A Brief History of Panics and Their Periodical Occurrence in the United States"

It shook business throughout. Would not such
a plan as is set forth in the footnote below [Footnote: "Mr. DeCourcy W.
Thorn expressed himself yesterday as heartily indorsing the Democratic
celebration to be held in this city January 17 next, to which all the
party leaders will be invited and at which subjects of interest to the
party will be discussed.
"When asked to give his opinion on some of the questions worthy of
discussion at this gathering Mr. Thorn mentioned the tariff and economy
in the conduct of national affairs.
"In the coming national Democratic celebration," he said, "I hope
suggestions dealing with a rational reformation of the tariff and the
need for national economy of every kind will be duly considered, and
that on these two subjects alone, to be treated thoroughly but
temperately, will this national Democratic gathering advise our party as
to its best course to pursue.
"In three successive Presidential canvasses since the Civil War the
Democratic party has received a majority vote of the people of the
United States, and in my opinion would have gained three thereby,
instead of the alternate two, elections to the Presidency if the tariff
issue, the major one of the two great issues--namely, tariff and
economy--on which they won, had been so sought to be applied as not to
threaten unduly to affect general business.


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