Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1892-01-27
AN ACCOUNT OF STOCK.
FIGURES THAT DEAL IN FACTS
AND NOT SENTIMENT.
Difference Between the Two Great Po-
Htical Parties-How Protection is In
trenched-A Raid From the South
Facts that Stand for Something
An Account of Stock.

1t IS always interesting to read reli-
able figures that tell of the country
prosperity. They are devoid of senti-
ment, and appeal to the business sense
and intelligence of the people. There is
no demagogism about them, no partisan
clap-trap, nothing to create prejudice.
Figures that give solid information, and
deal in facts OF a practical sort, sh ould
be printed in all public journals, no
matter what their politics, that every
body who reads and wants TO keep post
ed in regard the progress ST the nation
might know how things are running-for
instance, under the tariff law of 1890
During 1890, every Democrat who could
speak or write spoke and wrote against
the Mckinley bill. 1t was predicted by
the enemies OF the bill that it would
lead to more financial failures than
were ever before known. Probably
they didn't believe this, but they
preached it, nevertheless. and now let
US see how things stand after an ac-
count of stock has been taken
The Commercial and Financial Chron-
icle. of New York, is paper which
deals in cold-blOoded figures. 1t does
not deal in guess work, but prints fig
ures that pass current everywhere. A
"SN NNyp az eiilo popSl Plll1IOu 0cAIlC
statistics that have merit and interest
about them. Here is the record of fail
ures: The proportion Of failures TO the
number In business was smaller last
year than at any time since 1885. Last
year there was | failure to every 102 in
business; in 1890 it was l to 93; in 1889
it was | to 81; in 1888 1t was | to 9S; in
1887 it was l to 1853; in 1856 it was | to
9S. The average liabilities of those
who failed last year were SD, Al and
for the preceding year ST., 406. 1t is
noted, too, that the situation improved
steadily. during the year. Says the
Chronicle review:
The year 1891, starting under such con
dld0nS, and meeting, rs the year pro-
crossed, the new trials incident to our
large gold exports, presents a record of
increased failures, except for the last
quarter, when they were comparatively
small, because the last quarter Of the year
affords almost always the largest totals
Thus In 1891 the liabilities III that quarter
We're little less than % per cent. of that
years total liabilities; III 1890 they We're
about AZ per cent, and liz 1889 they were
2912 per cent; While the number of failures
in the last quarter Of 1891 was IS per cent.
of the total number for the year. against
500 per cent. i'll 1890, 2715 per cent in 1890
and 291s per cent in 1885 Take the record
OF 1881 as Whole we should say that the
results were much less Infavorahe than
might have been expected, While the final
quarter indicates that the change in the in
dustrial conditions which has now taken
place has proceeded SO far as to relieve in
a considerable measure the strain under
which mercantile classes rested.
Not only were there less failures dur
ing 1891 than for several years, but it
was the most prosperous year for farm
ers and merchants or mechanics that
had been known since 1878.
Then, another thing which deserves
attention; everybody knows who re-
members anything of the campaign of
1890, that the Democrats were loud AMI
bitter in their denunciation of the tariff
law for the alleged reason that it would
Interfere with our foreign trade. But
let us see how we came out in that re-
spect. The official figures are as fol-
lows: