Show THE CAUSE OF THE PANIC there is no more correct or impartial business bu ainess or trade journal in thia country than bradstreets the following excerpt from a recent number is republished published rc for the enlightenment lighten ment of certain republicans who from ignorance or deceit charge the late busin business pes to the fear of free trade the primary visible cause of the bu business cridis of 1893 was dependent oil the alie eff clcil cl on tile the banks of tile lie withdrawal of oe foreign funds 6 invested here of hoarding ey by individuals bals and by savings banks to meet possible con contingencies I 1 ingen cies the boing being precipitated precipitate by a well niell defined and well grounded fear of a depreciation of the standard dof of value in tile the united states because of the enforced purchase of of silver cacti month in view of this it is strange so many writers and have felt at liberty to declare that tile the luc late severe stringency of currency and consequent disturbance to trade ere due primarily to anticipated ilian pes in the tariff all visible evidence point in another direction no sooner had one branch of Con confess Consic ga voted to repeal the compulsory purchase of silver cl use mac of the llie sheridian Sheri tian law no sooner had tile likelihood of similar action in tile senate become apparent than th an hoarding and tile premium on currency disappeared domestic doti lestic exchange rates became almost it if not quite normal tile tie banks stopped taking out clearinghouse clearing learing house certificates aud abid advised southern and western correspondents that they would be able to advance needed finds to move the crops while bile last but not least tile number of banking Fus nispa pensions naiona practically stopped short and the number ot of commercial and industrial indin trul failures dropped drof ped off 17 to 20 per cent a better feeling was wag manifest in business circles NA xoi oi I 1 li it enst east bouth and west all and a w widespread growth of confidence in an all improvement in tile lie general situation was manifest the point lies in the fact that there lias has been no variation present presen t or prospective P r active in tile the outlook for a ci change g e i in josphe alie tariff Is confidence returning aie bauks banks and bendid lending more freely have prices of securities and andoe of staples adva advanced and are industrial establishments resuming work because the tariff is ig likely to be chan changte chang gid td |