The Iola register., 1891-04-17
aChe1p and Nasty" Times.
WINFIELD, KAs., Marc! ! 1891
z iitor American Economist:

WINFIELD KAs., Marc. i 1891.
iitor American Economist:
On pa-e 0 4 the tract Protectio vs. Free
Tr zee BY ID. G. Hartman, II is said ;!iat horses
tell as what historic authority there is for the
statement, as Il IS denied here Publish II, II
you pleas ,ilt.e Eeonoaliss. Yours trIiy.
3. b. LITrEIL
The above letter was sent to Mr..
Hartman, the author OF the leagues
document, Protection VS.. Free Trade,
and his reply is given below:
NEW YORK, March II, 1891.
EDITOR AMERICAN ECONOMIST:
The letter OF Mr.. S. B. Littell of
Winfield, Kansas, which you referred
to me for an answer, is at hand, and it
gives ne pleasure TO respond thereto,
not because of the disagreable facts,
which he 6i credits, hut because he ev-
identity wants to know the truth. If he
is at all inclined to free-tradeism. | hope
the truth will make him free. He saws:
'Ol page 10 OF the tract entitled Pro
lection vs.. Free-trSde,' b. D. G. Harri-
man, it is said that horses sold at 50
and COWS at 81 each lin 1897. Please
tell us what historic authority
there is for the statement, as it is denied
here?"
My authority for that statement is
Colton's Life of Henry Clay" Vol. /.
This the statement: 'Mr. Clay states
that the average depression in the
value of property under the state of
things which existed before the
Lprotectivel tariff of 1924 came to the
rescue of the country at 80 per cent"
THE revulsion of 1887 produced far
greater havoc than was experienced in
the period above mentioned The ruin
came quick and fearful. There were
few that could save themselves. Prop
erty of every description was parted
with at prices that were astounding,
and as for the currency, there was scarce
any at all. In some parts of Pennsyl-
vania the people were obliged to divide
bank notes into halves. quarters, ,eighths
and SO on, and agree from necessity to
use them as money. In Ohio. with all
her abundance, it was hard to get mon
ey TO pay taxes. The sheriff of Muskin-
gum county, as stated by tho Guernsey
Times in the summer Of 1912, sold at
auction one fOur-hOrse wagon at $3.50:
ten hogs at Ct cents each: two horses
said to be worth $50 to S75 each at s.
each: two COWS at 81 each: a barrel of
sugar at Sl.50, and store of goods at
that rate. In Pike county. Mo, as
stated by the Hannibal Journal, the
sheriff sold three horses at S1.50 each:
one large OK at 12I cents; five cows two
steers and one calf, the lot at S3.25:
twenty sheep at 13! cents each; twenty
four hogs, the lot at p cents; one eight
day clock at $3.50: lot of tobacco. or s
hOgsheads, at S.; three stacks of hay.
each at p cents, and one stack of fod-
der at p cents"
The above instances were not isolated
cases, for similar prices prevailed in
many parts of the country, proof of
which is overwhelming 1t is not strange
that Mr.. Littell and others should
deny that such things colld have
happened. as it does seem incredible.
Nevertheless, those statements are facts:
and they resulted directly from the
workings Of that free-trade tariff of 1893.
The reason that | did not state them
more fully in the pamphlet was because
there was not room. There have been
so many Inquiries and doubts like Mr..
Littelrs, and so many requests to state
these facts mode ut length. that | have
d aciied to publish a new and much
larger edition. which will be ready
some time this spring. Truly yours,
d. G. HARTMAN.
american Economist.