Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1885-07-23
John Roach's Suspension.


| Special Despatch to the Boston Journal.
| John Roach is much broken in spirit by
| the reyerses which ended on Saturday in the
assignment of his extensive properties for
| the benefit of his creditors and bondsmen.
! His bluff, hearty face is wan and weary
/ looking, and one can easily see in his vary
/ ing expression the nature of the thoughts
| that crowd upon bis mind when he con-
/ trasts his present broken fortunes with his
/ ability three years ago to retire with an an
nual income Of $4,000. He lives in large
1 handsome country home. with beautiful
/ grounds, in the village of College Point.
/ This house goes with the rest of his assets.
Now as to the causes which have led up
| to my assignment" said Mr.. Roach, "strici-
/ " speaking it is not failure; that is to say,
my assgnees will be able to pay two dol
lars for every one dollar Of liabilities if they
realize anything like the real value of my
property. cannot now say what is the ex-
act amount of my liabilities nor what the
sum of my assets will be TO meet il. but If
were not old man, and if | had health
a while longer, could put things straight
again. Business became stagnant about
year ago, when the Presidential nominations
were being made. The free ship move
ment strong. 1t has catchy sound;
il sounds practicable; if We can buy ships
abroad at less than we can build them here,
that is where to save the money. but the
fact is that is neither fair nor honest, nor
possible.
In dozens Of pamphlets and in arguments
before Congress have so forcibly esahiish-
ed that fact that the repeal Of our naviga-
ton laws has been invariably defeated. Ii
would take too much time and space 10 20 in
TO ali that here, and the journal has explained
the heresy time and time again. The Dem
ocratlc party Is supposed 10 be IN favor Of
free ships, and when the election excite
ment began aud people the possibility
OF Democratic success and on the passage OF
a law that would mean the humiliation of
American shipbuilding. there was no bust
ness. Carrying Companies would not build
ships. because they did not know how soon
the foreign SLIPS. operated by foreign cheap
labor. would be admitted TO drive their
business AWAY. All the work, therefore
that | have had on hand has been the con
struct.on of the new despatch boat ami the
three new cruisers.
Il tell YOU. nv friend. that these boats
were condemned before Their kerls we're
laid. They were condemned in Congress
the Democracy dared not oppose the plan
Of a new navy because 1t had become
very popular notion. The people In a mass
wanted navy, but they opposed the ap-
preparation because, as they claimed IN their
Congressional speeches. the mcney would
not he honestly spent. The appropriation
was mate against ih.s oiamor and bids for
the work were asked Tor. Mine vas the
lowest. and because had FAR greater fAc.lI-
ties for the work than other ,hIpb0.lders, |
secured the contracts aud began the work .:
construction. In the meantime The Demo
cracy had come into power ana prepared 70
prove their prophecy that the appropriation
was uot honestly spent.
The Dolphin, a strong. substantial, e1-
&c lent vessel. was condemned on the most
pueri.e fechnica.llles. and to add To this
injustice Mr.. Garland has repu A.,rI la-
contracts and practically said that there
exists no binding agreement betaeen M
and the Government. That ca2p-! the
climax; business ,tagnant. ~jo.obp oi
weekly wage, 10 paw. works 10 mA.u.zin aul
contracts repudiated. | stall bore UP and
tined to RAISE money on my securities and
property 10 tini.h The cruisers, trusting the
result u the good faith Of the people, ha'
men who had money dad no, wish To lend
with the prospect that the Government
would reject the work. Ny credit, Zoo. had
been badly hurt b The wicked repreeer4-
tatlonS ot the newspapers. and, consequent
" in the best interests Of my creditors and
Of the Government, Judged best 70 cal
hat. pay of my men and surrender my
pIoper;, 10 trustees, who could pay MY debts
and leave M What balance foF my last days
That there ghi be-"