The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-04-18

~ consequence, OCCduS0 CuO pOIICy Ol
the country has been dictated by the
greedy and the avaricious, and hu.
manity has been ignored and despiSed.
The Greenbackers have claimed.
for years past, that this was no ordi.
nary crisis through which the coun-
try was passing; no mere reaction for
overtrading; but that it was part of a
great descent in the value of all kinds
OF property, produced by legislation
which increased the value of money
by increasing it's purchasing power.
And certainly events have justified
the position of the currency-reform.
ers. Now, at the end of five years
from the beginning of the financial
revulsion times are harder, and the
prospect darker, and bankruptcies
more numerous than ever before in
the history of our country; while the
newspapers are filled with an APPALLING
catalogue of robberies, murders and
suicides. And the end does not seem
to approach.
Here in Minnesota foreign compli.
cations have given us a fair, but by
no means a high price, for our
wheat, while bankruptcy and ruin
are driving hundreds of thousands to
the new lands of the west, to com.
pete with us in the production OF
food, for an already overstocked
market. Our turn will come next.
What we do not overstate the gloomy
condition of affairs in the great cen.
ters of eastern industry we quote the
following interesting letter from the
st Paul Pioneer. Press:
Boston, April 3.-This is the season
of the year when merchants look for.
ward to revival of business, but the
number who anticipated a brisk trade
this spring could be easily counted on
one's fingers. 1t is useless to deny
the fact that Boston feels the un ,,ara.
lleled business depression, and is
groaning and wrestling in the iron
grasp Of ''hard times" Some of the
oldest and most favOrably.knOwn
mercantile houses in the city are tot
tering on the verge Of bankruptcy to-
day. endeavoring to stave off to the
last moment the awful reality that
awaits them. There were five heavy
leather failures last week, and there
is fair prospect of as many more in
the immediate future. The shoe and
leather men have been heavy losers
by western failures. most every prom
inent house having lost more or less
through their customers in the west
There seems to be no prospect of a
revival of business in the near future
l believe in looking on the brigh,
side Of life, but my eyes are hardly
strong enough to perceive the silver
lining to the cloud that hangs
over our city and, indeed, the entire
land. shutting out the sunlight OF
hope in thousands of once happy
households. Slowly but surely the
threatening clouds have gathered,
surely and steadily have they grown
in blackness, and l fear ere they
break away that their gloom will be
still blacker, and will be but the fore.
boding of still more diastrous results
OF course, there are those who pre-
dict a speedy resumption Of all branch
es OF business, and rise in the value
Of all kinds Of property; but thi.
class made similar predictions year.
ago, and have not lived to see them
fulfilled. Not few in our communi
ty express the opinion that the worst
is not yet reached, and that there will
be general breaking up of every.
thing-0ne tremendous crash--ere
business will begin to recuperate.
The depression of real estate in and
about the city 10 wonderful to contem
plate. / heard of the sale, the Other
day. of what was once considered q
valuable piece Of property ON Beacoy
street for $4,000, when the second
mortgage upon the same was 93O, 600
Real estate can hardly be given away
much less sold. Architects carpenter
and builders, who . few years ago
were prospering, are driven almost t<
desperation for the want Of business
1t is really sad to ramble about tn.
"burnt district" in Boston, and not4
how numerous are the signs ''to let
in the windows Of the palatial bust
blocks.