The Globe-republican., 1893-07-21
A YEAR AGO
Effects 81 the Democratic Administrators
on the Natio0Al Prosperity.

Effects 81 the Democratic Admin,str.t,sv
on the National Prosperity.
A year ago the commercial agency OF
r G. Dun & Co. issued review of the
business year then concluded, which
forms extremely interesting reading as
mere matter of comparison and con-
trast Its review read:
"A fiscal year never matched in the
whole history Of the country, in vol
ume of industrial production. in mag
nitude of domestic exchanges. or in for
eign trade, has just closed. The i'm
ports of the year have been about $685.
June over last year being about IS per
cent. Exports from New York in June
gained 1874 per cent. and the aggregate
for the year has been about $l,O27,-
100000. Railroad earnings have been
the largest in any year thus far, and
clearings in June the largest ever
known in that month. exceeding last
year s per cent, and for the whole year
the largest ever known outside New
York. Failures for the half year have
been 5,5O6, against 6,O74 in 1891. and
liabilities 1000. 900 against So, OOO. 900,
and, on the whole. about the smallest
for five years. IL spite of the low
prices, additional works are going into
operation, even in the iron manufac-
ture, and yet more in wooden and cot
ton. Money is abundant at all finan-
cial centers, with but moderate de-
mand, and collections generally good.
Rarely has the country begun a new
fiscal year with more satisfactory COM
mercial prospects, and there is less f.
nancial apprehension than is usual in a
presidential year
That was in July, 1892. when Benja-
min Harrison was president, the ma
t:onal government in the control Of
the repu blican party and the people en-
joyirg unprecedented prosperity.
The review of Il. 8. Dun & Co. for the
past year has not been issued; and the
sudden loss of prosperity and the
friShttul shrinkage in the wealth of
the country which have occurred since
Mr.. Cleveland was elected president
last November or even since he was
inaugurated, last March, are yet to be
told. But the character of the review
fences of last weeks trade summary
made by this commercial agency.
Read them.
Here is the doleful story:
1.-The volume of domestic trade shrinks
considerably, especially at the west
Bank clearings in June are about 10
per cent. smaller than last year, the
decrease at the west being nearly 20
per cent. Business in iron and steel
products is remarkably depressed, and
experienced observers pronounce the
situation and outlook the most unfavor
a ole ever known. The volume of bust
ness is quite large, but at the lowest
prices on record. Trade in woolens is
much restricted and waiting for future
neither manufacturers
nor merchants caring to take risks
which they can avoid. In boots and
shoes somewhat general suspension
of manufacture at the east seems fore
Swallowed, and while cotton mills are
in good shape there is much reluctance
to enter into large engagements for the
future. The business failures for the
last seven days, as reported by tele-
SIoDil " w. bCil a. Co., tiic
camille agency, number for the United
States 307, and for Canada %. or n total
of 334. For the corresponding week of
last year the figures were III failures in
the United States and 26 in Canada. For
the quarter ending June so the failures
in the United States number 3.l99, as
against 2.119 for the second quarter of
1892. For the first six months of 1893
the failures number 6.401. as against
sos during the same period in 1892,
an increase of S9S. The total
liabilities of all the failures occurring in
the first six months of 1898 are $685.
D10, 900, while for the same period in
1892 they We're S62 200, 0O0, showing an
increase of slO6, 900. OCO'
The American people did not recog
riZe a good thing when they had it.
There are thousands of democrats
the country to-day who
would give hundreds and thousands of
dollars could they be permitted to kick
the fat man out of the white house,
halo, horseshoe and all, and put back
he calm, conservative and capable Har-
-ison.
Were the election of last November to
be repeated tomorrow Cleveland would
not carry single northern state.-Al-
oany Journal