OCR Text |
Show ' THEM GOOD OL' DEPRESSIONS Admitting that the present depression is bad enough and apparently things are somewhat on the upper trend, there is no denying the fact that other periods of financial depression in the past were worse. That we are in the deepest financial stress in American history is false, as is shown by the following from' a Wall Street Journal of recent re-cent date : "In 1843 every single bank in the United States outside out-side of New England closed its doors. On May 10 of that year every bank in New York city closed. In 1873 there were 3,000,000 men out of work in a population of 40,000,-000 40,000,-000 ; 89 railroads, including the, Northern Pacific, went into in-to the hands of receivers, and 300 out of 307 iron and steel plants absolutely shut down. As for 1893, we remember it distinctly, and we want to tell you that as a nation we are in ease now compared with what we went through then." |