Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1871-11-21
Then and Now.
From the philadelphia North American

less than $40 900 900. Now, Chicago
has suffered under a similar visitation
TO the extent. as at present estimat-
ed, of $3.50, 100000.
Then, there vas decided tenden-
cy toward creation of a panic but a
few kind words from the president
of the United States Bank, combined
with little .judicious assistance, did
much toward casting oil on the troub-
led waters, and at the close of very
brief period, the matter had almost
passed from the recollection oe all but
the unfortunate individuals upon
whom loss had fallen.
Now, bears are rampant, threaten
ing loss and commercial trouble, and
laboring with all their energies for
tho destruction of their neighbours
property-thus producing state of
fear calculated to aggrandize the few
who have money TO lend, at the cost
of the many who have need to bor-
row; and it is with a view to coun-
teracting their efforts in this dis
rection that we here furnish a
comparative view of the condition
of the country then and now, as fol-
lows:
Then, our whole population was
but ID, 100000 now it is 10000 900
Then, the whole property Of the
country could not have exceeded So
600 600 900 and it is very doubtful
if it reached even that amount. Now,
it exceeds $50 600 900 600 and were
allowances made for the labor saved
by the hundreds Of thousands of
machines in use Throughout the coun-
try, it might be set down as being
ten-fold greater than in the former
period.
Then, our iron products were but
250 600 tons. and our whole con-
sumption $50 600 tons. Now, our
production has reached 2 900, 900
tons and our total consumption q
500, 900.
Then, the coal mines east and west
could scarcely have exceeded l 500.-
600 tons. Now, it has grown to near
~ 30 900 600. the application OF four
fifths of which is in the direction of
economizing human labor and elevat-
ing the laborers,
Then, we worked up 200, 900 bales
of cotton. Now, we do the same by
900, 900 bales, nearly the whole of
which is consumed at home by those
who labor.
Then, our wooden manufacture was
confined almost entirely to the COM
moneet products of the loom. Now,
it embraces almost every description
of goods, to the very finest its
amount approaching nearly to $50,
000 eco.
Then, the majority of orr people
were but poorly clothed. Now, they
are by far the best clothed population
of the world
Then, the lake and river ship-build-
ing of the West was scarcely known.
Now, it reaches 100000 tons per an
mum.
Then, we lived under the regime
of President Jackson's western and
southern wildcat banks, busily en-.
gagged in contracting obligations that
were never to be redeemed. Now,
every note of every bank in the
Union is gladly received at every
counter of every shop in every state.
Then, we mined but very little of
the precious metals, and Our total
coinage for the year but $4,000.
Now, our product of these metals is
$50 600 600
Then, our banks were pretending
to pay specie doing this with the
full knowledge that it was pretence
and nothing more, and that a foreign
demand might any moment cause
them 20 fail of payment, Now, our
commercial system is based on green
backs, not likely to be withdrawn or
reduced in quantity, aud always
available for every commercial pur-
pose.
Then, those who desired to replace
their commodities and machines des-
trOyed were in great measure CONS
PEELED to look abroad, thereby adding
| to the demand for those precious
metals of which so small quantity
could be found in the vaults OF banks
Now, nearly all Of these supplies are
TO be obtained at home, making large
demands on our mills and workshops,
and giving to our own labor the en-
ployment which before had been CIV
en- TO that of England.
Then, the blow was struck at the
heart of the commercial tree, and its
effect was felt in every village, town
and city of the Union. Now, it IL
but a branch that has been affected
leaving nine-tenths of the body almost
as it has stood before.
Then, insurance, as now carried on,
was scarcely known,as consequence
| OF which an immense proportion Of
the loss was 10 be borne by New
| York herself Now, it is so scatters
cd from London to San Francisco
as 70 cause the weight in any indlr
vidual quarter to be comparatively
light.
Then, our customs revenue was
but $4,000 600, or but half the loss
by the New York fire. Now, it ex-
ceeds 500, 100000, or a third more
than the now estimated loss by the
Chicago fire.
Then, we had just entered upon
the free-trade policy, which brought
such speedy bankruptcy in 1887, and
such utter ruin in 1910 1872. Now,
we yet retain the protective system,
under which the reward of labor has
fully doubled and by means OF
which we have been saved from
financial crisis like those free-trade
ones of 1818-1824, 1887 1912, and
1857 1860.
Let those, then, who fear a crisis
recoliect that nothing OF the kind has
ever yet occurred in periods of pro
lection. Let them next study the
remarkable facts above presented
} and then determine for themselves i
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