The Springdale news., 1889-09-20
SPRINGDALE NEWS.
A Pretty Bad Showing.'

Company, whose mills are at East Greenwich, gives a pretty bad showing. It's liabilities are S800,- 00o and assets 84oS, ,8l6. An offer of 25 cents on the dollar is recon mended by tha committee for ac- ceptance."
 This IS, indeed, "a pretty bad showing" for an institution to bene- fit which the people of the United States are taxed up to S3 par cent of the value of the woolen goods used by them, but, bad as It Is, It IS not the worst by any me ans. MT. HarrIson's election to the Presideh cy would, 1t was promised, lnau. gurate an era of great prosperity and high wages. Some idea of the real consequence may be gained from the system in this stngle in dustry since hls election, viz:
 November 6, 1SSs-Elecuon of Benjamin Harrison to the Presiden, cy on the theory that high taxes create wealth and insure prosperity.
 January 9-Strike of employees of Higgins New York carpet facto- ry against reduction.
 March 1-Failure of H. A. Gould of Boston, dye stuffs for woolen manufacturing.
 March 25-Assignment made by the Glandale woolen mills, Glen dale, Mass.
 April l5-Assignment of the Conshohoeken tFa.) Worsted Com pany.
 May 1S-Failure of the Alma Manufacturing Company, employ ing 100 hands in the manufacture of lady's cloth in the Philadelphia oistrct.
 July I6-VersaiIles Woolen Com pany declared insolyent.
 July 25-Falure of the Denis wooden mills, Chester, Pa.
 August 6-Attaehment ot the Riverside and Oswego Worsted mills, employing over 900 hands.
 August Failure of Brown, Stesc < Clark, wool dealers, Bos- ton.
 August S-Failure of the Bohl- man hat manufactory, Reading, Pa.
 August 8-shutting down of the Eben Sutton woolen mills at North Andover, Mass.
 August s-Suspensior of Sehep- per Brothers wooden mill at Phila- delphia, throwing nearly 5oO per sons ou, ot employment.
 August S-Hutchinson, Ogden & Co.,, orsted yarn splnners of Man ayunk, Pa, assign.
 August S-The Pioneer woolen factory of San Francisco offered Ger sale.
 August 9-Gcorge W. Hollis, president of the Hollis Dressed Beef aud Wool Company, makes an assignment.
 August 15-Dayid Crowther X Son. woolen mills Germantown, Pa, make an assignment.
 August 20-Assignment of the Phoenix Woolen Company of East Greenwich, k. l.
 August 21-Assignment of aathe Thornton Worsted Company ot New England.
 If Presiden, Harrlson is keeping a complete diary of the results of his High Tax policy, 1t will show at least all of this in the woolen busi- ness. There may be other failures in the business which have escaped our notlce but this gives evidence enough for a correct opinion in re- gard to the effects of high taxes on trade. .
 The woollen business is the VIC tim of the "Mutual Rapine" device of Repablicanism. AS the people are taxed tor the benefit of the manufacturers, the manufacturers are taxed for the benefit of Repub- licm sheep in Ohio, These latter taxes arc closing the mills. It is true that the Republican party by law authorizes the manufacturers to collect from the consumer (brsO tax for protection of finished goods; (second) a tax to tor the raw wool; and (th.rdl tax to compen- sate the manufacturer for consent ing to be taxed for the benefit of the Republican sheep; but there Is polnt beyond which the delegated power to collect taxes by adding