The morning call., 1893-09-20


to afford those of their vocation relief from
existing financial conditions. and have ad-
dressed the following circular TO the Board
OF Trade in this city. 1t explains itself:
PENDLEToN. Or, September 10. 1898.
10 the UHOteSGte Merchants and Bankers of
the Pacific Coast StdteS-GREETTNG: A CON
Venti0n OF 500 wheat-rai>ers, representing
Eastern Oregon and the Walla " ALA district
OF Eastern. Washington, met at the Civ Of
Athens, Umatlla County, Oregon, September
10, 10 consult upon the inIei ests OF the wheat
ralsers Of the Inland Empire in the present
money stringency.
The convention resolved by a unanimous vote
that TO compel wheat-gTOweTs to sell TN ir crons
al the present prices would result in universal
tun 10 them: that II they could hold their wnes :
TIL December 10 The price would appreciate
above the cast of prOducuOD. and the crons
would sell for enough 10 ray of the debts que
the country merchants and banks and leave \
slight mal gin for the tanners to live unon
during tne coming wear
The undersigned were appointed commit
tee By the convention to lay these facts befora
Inc wholesale merchants and bankers of The
Pacific Coast and 10 urgently request tn m 70
refrain from pushing collections against conn-
try merchants in Eastern Oregon and Eastern
Washington until after January l. 1894
In pursuance OF the duty assigned ne wa
make the above statement of facts and condi-
llonS, ana Respectfully urge you, so far as is in
your power, 10 give your country debtors of the
mercantile class until January next 10 settle
their Indebtedness to YOU.
This request is unusual. but conditions ara
extraordinary. A merchant should NOT ne com
PEELED TO sell his goods for less than COS nor
should farmer be forced To % arr with bis
wheat Tor price less than the cost of prOduc.
ton.
There is no real price for wheat in this sec
ton now Small lots have been sold for 2S, 20
aDd 80 cents per busheI-igures below cnSt oT
raising II; but farmers cannot sell at these
prices without absolute ruin We believe prices
Tor wheat VIII rise 10 10 20 cents a bushpi
within ninety days becauSe:
EuSt-Ihe Government crOn reDOrt for Al
gust places the wheat yield for the Unifed
STATES al "a per ceni-the lowest percentage
for several years.
Seccnd-Shortage OF European crops
cihc Coast ports.
FonrIh-The general opinion OF wheat-buvers
tnat pflceS VIII rise materially In ninety dnvS
Fhth-Recent heavy rains in This secTion
nave greatly damaged large quantities of
wheat. Vi
Sixth-Thc gradual loOsening of the money
stfingency, which Is already Indicated Inv ra
opening OF suspended banks starting mn NJ fac
tories. Increase of bank deposits and reserves
ana rapid return OF public confidence. 'eS
oe'entn-Ne believe the present strinpenoy
Is artinclal III character aud In no wav The ~
suit OF natural causes. As the motive for erI o ro
longing II has disappeared we expecr to 60
the panic Itself disappear speedily thonob ~
may b. long before the wreekage is enItTalv
ton. cohui-
In view OF these facts and beliefs The comni,
zee reefs con1luent that you VIII resuond favor
AMY 10 Inc iequest OF the wheat.TaIsers co
~ o~seIa.e eoIdIally IN mitigating the bIigbtinc
ehecls oI lne recent panic. and, by refrsini,S7
from distressing country merchants sava tns
farmers from the greatest evils thar hara ot, vne
threatened them IN the memory of men w.,
'0'p0HS' NATHAN PIERCE
UANID ASHPAUGH,
w. A. SAMPLE
Cummiffaa