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Show STILL DODGING. H "Our friend across the block" is still H dodging. We stated that Baring B Brothers failed early in the epring of H - , It might have ueen in February H 'hat year. The exact date isimma- H tyr.v ss that does not aifect the results Hj i'--1'- ' u . lusry and commerce that were H v-. the JojflCal consequences of $he wide- B in rep i panic that swept over Australia H and l r united States early in 1893. H Our contemporary says, "Baring B Brofj, failed in 188S before the time of H the figures given. That disposes of the H panicky argument." Granted that H Baring Bros, failed, or rather sus- MH pended in 18SS, They must have re- H sumed, for they suspended again in H 1893, and after the mighty crash in H Australia that followed their suspen- H sion, they again resumed and are in H business at this time. Supposing that H all assertions relative to the iall- H ure of Baring Bros, are wrong. Sup- H posing no Buch firm ever existed, the H fact remains that early in 1893 the H Australian banks went down to the B tune of $25,000,000. One of those con Bl cerns, the city of Melbourne bank, K failed j indebted to depositors in the Hj United Kingdom 2,750,u00, or in the B neighborhood of fourteen millions of B dollars. We pointed out how those B failures affected the wool market by B the helpesB wool growers being forced B 'to Pce their product on the market at HBj what it would bring. We also pointed B out that like results in the United H States affected the wool growers ic a B corresponding manner. We pointed Hf out that the first clips of Utah wool Hl brought 15 centB per pound in 1893. B We pointed out, through the refusal of b the banks to lend money, that buyers B were called home and competition for Bj wool was destroyed, and sheepmen were H foced to sell for what they could get and B which sufficiently accounts for the low H price of wool during that year without H charging it to the Wilson bill which H was not in force. Without touching j -on-such plain results of the condition H of the money market, our cotemporary Hj takes advantage of what it claims to H be an error of dates as to an immater- H ial fact, and Bays, "that disposes of B the panicky argument." We defy "our H friend across the block" to refute our Hj claims as to the causes of the low price H of wool during 1893. The same causes H that resulted in the decline of wool Bj -had the same effect on the price of Hj muttons and stock sheep. Under the Bj recuperative influence of the Wilson H bill, wool has advanced to a paying H figure sb will be seen by an article in B this impression entitled "The Wool B Industry." B If the artful dodger acrosa the block Hj Is not satisfied with our assertion as to B the causes of the decline in the price B of wool, and in fact of everything else, B perhaps its spiritual nature will be B somewhat soothed by our quoting from B the morning church organ of Salt Lake H city and which has become such an j authority on church discipline, and H whose editor, although a rascal, knows Hj more than our slippery friend across Bj the block: H When the congress in 187S, destroyed H half the the real money on which trade H transactions were founded, the wheels Vj of commerce kept revolving, it Is true, Ki 4but-with ever lessen ine speed, until at I H the end of twenty years its process of I M t i mm a mb gaaa armnn, slowing down caused a panic and such distress and crippling of industries aq this generation has not Eeen. Tribune. May 18, 1894. Does the Enquirer believe the above from its big republican brother, or docs it contend that the Wilson bill instead of the republican party demonetized demon-etized silver in 1873? The Tribune is right-in its statement of the causes of the panic in 1893. The protective policy pol-icy of the republican party, coupled with its juggling of governmental finance during tl e ten years prior to its crime of demonetization in 18i 3, had so aggregated the wealth of the nation into the hands of a few bankers and money loaners that, as that eminent emi-nent republican, Chauncey M. Depew, said:"Fifty men in these United States can stop the wheels of industry,they can strike dumb bvery electric key and pre duce a panic at will." The "dcstiuc-tion "dcstiuc-tion of half the real money vn which trade transactions were founded," made the precipitation of the pm$&M 1893 a much eaiser jot for the SH and beneficiaries of republican protection, protec-tion, than it would have been except for their last great and damning crime of the demonetization of silver. No wonder that the importation and manufacture ot shoddy goods have increased in-creased to stupendous propo rtions jven in the face of cheaper wool. The great army of idle toilers caused partly by the high protective policy of the i publican party coupled with its crowi3 ing act of iniamy in '73, cannot trampB hunting for work, support their famiW its and dress in anything better than shoddy. Voters, if you want to con tinue in power the party that has, wrought the ruin we now see ; tUa party of heartless, souless monophjB the party that betrayed the greB trust the people repesed in it for thirty years; the party that has sold you and your children into bondage and made you the slaves of "fifty men in these United States," vote tor the republican republi-can party and take your medicine without a grim mace. |
