People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1893-06-09

II Jil6 BIduu III dhLd
ards by the money
: played 1t will be
he threat has been
lie western and south
refuse banking ac-
be people in orGer to
nent against silver.
and admitted by the
that a panic was to
With the same end in
anic seems to be with
stages, anu,
one OF the first
: crash proves to be
j instigators of the
more than any other
for present
is. The ex-secretary
.ates treasury, Hon.
/, failed and has made
: the benefit of his
| few very brief re-
o Ourreaders the fol-
printed in parallel
that they may see
some fifty or sixty
ms in the United
5, and an alarming
title failures, has its
Duntry widely sepa-
mere there is no sill
where is no such
nan silver act, and
they have always en-
) (?) of a single gold
AUSTRALIAN FIGURES
y The real proportions
LOT The financial disas.
p tiers in Australia, due
y TO the failure of large
r banking inslitutiO q 5,
q my be gathered from
E he sworn returns
l. nude recently 10 the
] British government by
5 The Australian banks
!, According to these re-
= turns Australia had at
e the Close OF 1892 twenty
colonial and six
+ "Anglo.colonial" banks.
:, Sitl deposits aggregat-
ling S1i,0EJ,O OF this
amount s2l&,0J1, 10, or
n 9 70 per cent, was En-
d glish capital The Aus
/, tralian banks paid
S large interest to de-
q lpOSitOrs, and that ac-
:, counts in part for an
b increase between 1859
ind lt9; of nearly &c.
a 1900 in the amount OF
n English mOneI on de-
5 nOsit In some OF the
l. Australian banks the
percentage of English
f. deposits was very large.
3 In eleven itexrecded p
IS per cent Of tn total
,fIdeposits and in five it
Y exceeded 81 per cent
During the boom period
yIof 1885 and for q couple
t IOf years after it was
S possible to earn inter-
: estOu the large deposits
land dividends on
: shares, but since the
eIrecent depression the
= banks have found it i'm
n possible to do business
/. enough to keep up earn.
+ .ings. The immediate
i cause Of their troubles,
!. however, is the panic
Y among depOSitOrs at a
2 time when il is imprac-
|iicable TO realize on as
S sets. DepOSitors are
j Healing for Their cash at
Ma moment when it is
4 impossible to obtain it
j. for the securities in
2 hand without mourning
.t.great loss. Fourteen
s.Of the banks referred
INTO have failed in The
.rHlast few weeks. These
+ had S42i,72922, 9O5 of de-
d IpOsits, OF which Sl3l.-
/ j46, S55, or over 81 per
were British. II
o|the Mercantile bank OF
IS Australia, which sus-
expended in March, 1892,
t be added to the list,
yIthere have been fifteen
n failures of institutions,
over $751;
l0N,OOl Of deposits. some
1881, O0O,0OJ OF which
p were from Great Brit
.tain. The locking up Of
.einearly half a billion of
il m0ney-pending the re-
n hahilita tiOn of the
IS banks, il that can be
Y .eGeeted-is n very seri.
'r'Ous matter. But some
IuOf the collapsed con.
'e'cerns have compare
lively worthless assets
land will not be rehlbili-
Is ated. In other words,
II depOsitOrS will lose a
e large proportion OF
.itheir Si2i,UJJ,0JO OF de-
Y. pests, 70 say nothing
r. of the losses Of stock
holders over and be-
.yond this enormous fg.
iure. The consequences
Iof this great loss are
bound TO be very con-
siderable, not only in
Australia and England,
but on the continent of
Europe an d in the
|TWH.a CT To-