The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-08-01

Lac DemoGEory 1fe SvcAtuR 70 oow~urS
Che effect Of the ta-if In bringing about
ths prevailing business depression. The
facts are sgainst them. Tho New York
Ttas recently Published complied stsss-
ment giving the loans and discounts, de-
posts and surplus funds Of twenty OF
New York city's national banks on June
-. isb2. two days after Mr.. CievsIand's
nomination. and on July II. 1868. after
four months Of Democratic rule. In the
twenty banks loans and discounts have
decreased w. $4,000. deposits hare de-
creased si3s, AIS. 100. and surplus funds
hare decreased SIS. --a7. 500.
During the last fourteen weeks the sales
Of woot in Philadelphia, Boston and New
York have been 30 40. IA pounds less than
during the corresponding time last yesr.
and this noswithstanding marked decline
In prices In Eastern Oregon there are
500. 900 pounds Of wool stored for want
Of market. Wool that sold last year for
~ cents can not b. sold this year for 10
cents. The buyers say: Owing to the un.
settled state Of affairs No can not take
your wool except on free tariff basis,
which means a price that Will kill the In
dustry In tho United States.
In iron there has been = restriction OF
reduction amounting to 1900 TO 5000
tons weekly, and the figures for the first
cir months Of this yesr show decrease
over either six months Of 1892. The iron
ore market 10 depressed aud 10 II expected
that the shipments from the Lake Supe-
sior region will be little more thsn half the
Quantisy sent to market last year.
The Amoskeag Manufacturing Com
rany. Of Manchester. N. H.. employing
5000 hands and paying out So. 900 every
month In wages. has shut down. and %
hes the Slater Wooden Mil, Of Webster.
Mas.
Tbs Springfield Usion, published In the
heart Of tho manufacturing region OF
Massachusetts,. ~ early - Juno 7 sug.
sssted that Il was anticipation Of pos
sib.s tariff changss 20 b carried out on the
basis Of the Democratic platform At Chi
eaRo that had caused manufacturers and
operations and to prepare for the coming
tariff revision" Tho metropolitan press
1t the extreme East ascribes the strin-
gcncy wholly TO this GAUGE.
Congress meets next Monday and tho
administration expects that tho Sherman
Law will be repealed. It's by no means
certain that IL will be repealed, or IL
repealed that II will not be succeeded
By . free silver coinage act. but even
II il be repealed without conditions.
II 10 by no means certain that commercial
calamity has done lis worst. The repeal
Of the Sherman law will not reach the
business unrest that has caused tho stop
page Of mills and manufactures. Calamity
will not cease until the country is served
with decisive notice tina. the destruction
Of tina protective system will not 10 un-
dertaken by this administration. Tho
trouble vii not end entirely until the
tarsa question II settled and business adj
jus'sd 10 the new conditions. AT recent
meeting of the Albany tN. W Chamber
OF Commerce the following resolutions
we're offered by William Barnes, ir.:
"Wnrsfas. The suddenly curtail~d de-
mand for thu articles OF rrod.,rtion and
manufacture which has produced this
Iamentahlr state Of affairs is largely and
principally due TO the fears OF dealers in
oil branches CT distribution that tho tariff
conditions, under which the people
ei the United States have lived Tor
thifty".vo years. may he radically
changed. that articles prcaucet or
manufactured by cheaper labor abroad
may he admitted free of all tariff
toll or AZ reduced rates of tariff duty. thai
the competition TINS ensendercd may re-
ouce tie prices oi all such articles which
noe prevail. that stocks uf goods subiret
10 taris duties which may now he laid i'm
by dealers. as Is usual at this time If the
wear. ter the regular tall and winter trats
iHay arpreclats IN value on the hands al
thesr owners: that tho disen p,oyinrn, of
home laaor resaltinE from the iisn ace
nent al home products aad manufacture.
~ Articles oi foreign production and
msnuiseiare may impair the terulsr ae
rsana for these s0osts y hen later a., thev
may lie offered sor sac: that erc.s.t,,,,
tsnpcrsa,ions from abroad may dram tnr
country al rs gold aad still tar shsr e,nhaE~
gass trade.
The Springfield r.sss in the same line
OF thought says:
The silver purchases have not esu,.s
Che shutting down or Running on n.rr
e.sne of iacsogis, that are perfectly solven.
They are ssfapsy preparing against tsrti.
changes. ACT vssa.ng 10 he czught wiki /,
large Supply Of good, on hand hal ;Ges
woali have o. cell 81 less. The marg.f.
between front and loss In industrial eu
tsrrrlses averages less thaa h per c<nt
1nis resorfa. Involving changes in ;Ae
existing duties. viii average more than l.
Per cent Hence there must be cens,srnx
uoa asacng al oer naauiactarsrs.'
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