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

Act Responsible for :
gency.
The first act in {
placed upon the board
power is now being p.
that the
freely made that the W
ern banks would ref
colnmodatiOns to the !
manufacture se1timen
1t is also charged, and
American Banker, tina
be brought about with
view. Well, the panic
us, at least in its inciI
with rare poetic justic
to be caught in the CT
one of the principal il
plot, and one, who mo-
one man. is respons
monetary conditions.
of the United State,
Charles Foster. has fai
an assignment for tn
creditors.
As a basis Tor a fe
marks we submit to OF
lowing clippings, pr
columns, in order tn
that the failure of son
banking institutions
States since May Is, a
increase in mercantile
counterpart in a cOun
rated from this, where
yer produced and W
thing as a Sherman
where, moreover, they
joyed the blessings (?)
standard.
THE FOSTER FAILURE Al
CLEVELAND, o, NAV Z
ga special from F1s- .ot
tOria, O.. sIys: The ter
situation here tod ,y|iO
so far as the FOster'blI
failure is concerned m
presents but little b.
change from last even. m.
ing. THERE'S a general BIZ
feeling OF uneasinesS iht
in all branches Of trade, Ac
but very little excite tut
ment noticeable In the TIT
streets this morning 20
J. B GOrmley, the AS ~
signee Of Mr.. Foster, 81.
states that further in Ing
veStigation shows at an
fairs to be in even 9
worse shape than had gil
been at first thought, tra
and the liza bilities lar
would reach IS 90 Ipo
and possibly 81, 0Ol, 90, .cOl
with the assets much in,
less" In
In response TO a tele- sd
gram sent 10 him BY an III
afternoon paner Of this no
city Gov Foster an Al
sWered: pc
Thanks for your Of de
fer Of space. My pres In
ent mental distress pc
precludes acceptance Glide
your kind offer TO any Iex
extent DIT
"My failure simDlyIof
illustrates the great of
folly ofpermitting 6ne's Ipo.
self to be in debt be- esI
yond the reach of rea an.
sonably quick assets shi
for relief when theire(
hour OF difficult Dor ba.
rowing comes. Whcn.poi
people are in such con enr
dition, and the stahil- .in-
ity Cf existing financial cal
conditions is shaken. no
the result is inabilityIam
to borrow, suspension lin
and failure. lic
Business is largelg'seI
done with borrowed cal
money. Confidence ina
the maintenance of.im
sound financial cOndi. fOi
tiCns is essential 10 le Iha
ultimate lending. That'grt
public confidence has.Of
for some time been'tO
shaken in the ability Or.la,
capacity of the govern Ia
mcnt to mlintain gOldIpO
payments is evident 81
The natural impulse Of|cel
banks in such timesis to'thi
strengthen themSelves.A Al
against some possible |pe
and unusual draft Ibe
Then comes inabilityIth.
to borrow. Decline inIfai
price, suspension andIag
bankruptc follow. l0N
The country is DOS 81;
sessed Of enormous re- VT
sources which are attain
the command Of theme
government and tim
should say and act in. ha
terms that will always ba
satisfy the country eff
without ambiguity or.ou
uncertain words thal.Of
gold pa ments will BEIGE.
maintained .tiI
CHARLES FOSTER AN
The announcement Is a
made this morning that de
the North Baltimore lal
Banking Co at thii.th
place. Of which Gov. pc
Foster is a director. of
had closed its doors Il no
Associated Press. 30
.ur