The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1879-09-12

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-. at1.tsA,. Manrs he,Hn,e very
ssnie. rates ~ lnseies, high. nnd
thu pii.~s ~ labor lower NIL o,rf the
country.
Only tas.uws,tNkl retired this s.af.
business fallnacs 2.ala. arRf-eai.
loss In creditors tsa.ass'.tss,. Mor
isen ont III work. furnaces and mills
arr Idle. wages cut silll lower. mud
labnrrrs hrrin to tramp In search u
work.
1874.
This year only nbont tl?.MN. OsO
wns destroyed. but the drain u pre-.
vieus years had been snrh TINT this
last straw canscd l.0ip failures In
business, with n loss 10 creditors vi
&l2l .O56.OOo. More cutting vi wages
followed with nm increase of those
without work, and those employed
/ talked vi strikes because Of made.
u,lAtc wages.
1879.
| This year tho financial storm ap.
preached a hurricane. Business
men with each returning hnrvcs,
had hoped for better timcs and re.
turning plenty Of money. Instead
Of this, JAy Gould. aided by specn.
lntors In governments securities,
organized for the transactions Of the
Infamous "Black Friday" Of whose
villninous profits Grant and his
family shared: banks went to the
wall; i4,OtHl,OaN dollars were kept
locked In the public treasury, whicl,
belonged In the channels u tratle
and industry, and although but &l,-
Coz. mo were destroyed during the
year, the people becalnc panic.strlck.
en-. and 5,iS3 business ilrms were
prccipitAtcd over the prccipIcc ol
bankruptcy with loss 10 creditors
81 &22s, 4.vQ, 900. Wages were cut down
all over the country, strikes were Of
frequent occurrence. tramps com.
menccd to seek employment far and
wide, 5.)o. 900 Of whom had just been
added to those previously existing.
1874.
Notwithstanding the terrible re-.
suits OF the last year, tho wine press
Of contraction still crcaks on II,
hinges Of death and woe 10 tho peo-
pie, as round and round X sweeps
out Of circulation e75,4s4 certificates
OF indebtedness which had hcen
made legal tender money; eSb, Too
treasury notes; 46.335.0 s5 legal ten.
ders ~, OOO,OOO fractional currency;
~ ,OOO,OO bank notes; producing
5,A3O failures and loss of &lJ5. 23a,
600 To creditors. Over one million
idle men now tramp the land In
search of work. Wages OF labor
and prices OF commodities still dc.
cline. Strikes arc numerous.
1879.
The volume Of currency this ycar
was contracted tl2.sl7,416, tho fall
urcs reached 7,740, With loss Of
&l05, $500 10 creditors. Two mil.
lion laborcrs out OF work. Famine,
nakcdncss and dostitnti0n stare
them In the face, and trAmping be-
comes q profession.
1870.
Contraction Of the currency, the
Republican remedy for hard times
continues. Over &3s. OOO, 600 of legal
tender goes into the cremation fur.