The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1879-10-24

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s.fnllles ~ III Il t4l III enrl sses
dependent nlNn tsissn4 NtAu illssn
ffnn their hn,1rs by mortgage, ] u
sur. ~ sns that isn ,iinss that mum.
hri ase dependent upon tlrn asnl
lniiahr III their mi~tnitnn, at.i ruin.
/ III. aaa, 6gu will therefor. Involve In
ih.if ruin h.bau. 1u, H. shuw TINT l
issc not over estimated the lies.
sturiiun n homes Ivy fur lueules, |
will give the report fur Ni-eansin.
fai thu year lsTS, whrs.
Mortgage indehsue~e N .st..,.s evsssna.san
2
Tt~t.. ,.unt,, sslsv lsa,d uahetsas ssn.ns'
ita,lsua,, ssv,sht On products ...5.. sssa,on
Total u......s.4... ...,.sttsi, sattssasn
Ah,aah, ~ rrsinsts ~c'A l-An"n
Dygelt ACKNOWLEDGEMENTS t.ssn,ssal
rhis shows thu, one third of the
annual interest was not rnid III ls1s.
aud Tint foreclosures must III nrrssi.
IS H. The result III ". extend this
u NIL the s,ates and territories II Will
h. evident that my estimate ~ S,,l,.
62tl foreclosure. for eight nni Il huff
years i much ,Ndrrc~tina,'i.
were expelled from their homes In
7 thu State Of Minnesota alone. In
ms, II IL SAFE 10 say TINT . persons.
are ruined With each pneuf the thlri
elas- Her. the effect II mere fninl
then IN either III thr other rlnsws,
I The amount ~ suffering being In
proportion To the degree 81 lcl"n.
dsnry ~ the MofkinHnlsn upon ih.sr
employers. They nrc subjected ~
tiin from I'll, very conditions TINT
nuke their employers rich
ssIhAi FAIRsN wv W. - sNssN
York, in laIl. employed i,,,m men.
~ NJ. introduction VI improved NM
rhinriy, invented In SOME instances
Il. their own workman they were
enabled 80 Increase the amount ~
work. Will. diminishing the number
af their workman HI That in lh11.
they had discharged lNn wnrkmrn,
und With I'll. remaining ,W, inrn.
were atill able 90 meet NIL orders nh,l
eolnprte probably with other Co..,
In ils viiin. line ~ l,itincsr. The
discharged workman llnl acquired II
4 special knowledge which lifted them
+ for ih.ir work and disqualified them
far any utli.f. Iilot t,ai hcrohe II
I lan ~ the machinery aud .itsh
disconnected they were literally
bankrupt THESE men discharged from
tell thousand factories. either hs
their suspension, 81 III. improve.
ln.nts la machinery, lHlye bse.fns
Whit nrc called ''trItmpa." nj I'M.
inrnAo hast. sntlnn~ly estimated ~
| from two ~ four million HIT with
In thu period named, III. number Il
workers employed NJ printers, haaks
binders. Iron workers. cotton NIL
Moulcn Spinhrl-. phuc nnl furniture
fnetnrirr. ship aid housc hnl'l.l4,
STONE cutters. carpenters nnsi turn
iu,atcln. turned nut of employment.
nrr estimated nj t.0Sps.n, aud tl,.li
wives. children, mel dependent rsta
tisrH viii include Il humber ilsr tlnlsH
greater. ur .W.lip, luO persons,
The consequences IT the National
Credit Act af It,n, the silver net Il
ls1a. aud tie resumption a.'t NJ iAii
With the bnluil.. III trutic onAu1usit
on selling products ~ len1 than sasi
since ls72, may he saned mp NJ fol.
lows
Dependent.
I Commercial failures tsa,dO la,tAss
/ Agricultural !. sss.sae t,tsoss
/ Industrial t,.sasst, S,Avtfh
Tutal sass~a bs -.
Making n sum io,nl ri those a.int
nlly aud Indirectly ruined rlncr Jun
/, 1879. 10 July |. Ism. amount II
81. hh3.7 .O persons, In estimating TIL
lmninns consequences III returning
to thr financial methods III Europe,
hy creating Il bonded National dill
Tint rnn never ~ paid, and " nessl
intended 10 he paid,
/ hay. hecn guided by commercial
reports and Slate nnd Nntiohnl
Statistics In making M the mlicfinl
results III our class legislation rinss
thu an,i.rcs,lmption speech ~ John
Sherman Ia INN, II will bc s...ll
that these predictions have bee1i
more than verified l,y tho partial
md toinl ruin ~ over s,l0,, tDtM mil,
lion ~ people. many II whom hny.
died In Iii. great commercial bnttle
field which covered every state nh.
territory ~ the Union during IN en'
tire decade, |, viii 4. .nofr difficult
ii make ~ estimate IL tie ninfnl
rr4nll-, which must Include the ia