Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1893-07-07

( WHY Times are Hard.

/ 81 y " p Hie
i In December, 1865, we had 1905 ,6S7, ,77Ot
circulation, Col. B. 8 Heath, author of anant
Revolution says:
During that year, there were but Sc bus
ness failures in the whole ountry, involving
loss Of but Oh, ,625 900. Labor was well paid an
fully employed
1867, This year the work of contraction wa
vigorously pushed. and there were $50 failures
with q total loss Of geo, 900.
.'1s6s. During this year s473, COO, 600 OF none
was destroyed, and failures increased to 2,6Os
with o loss to creditors Of s63, 3,774, 600 None
began to be tight, and financial 'spasms'i = Wer
frequent.
1850. During this year over $500 600 9
money passed into the cremation furnace pre-
| ducing 2,79I business failures, and o loss Q
S75, ,O54, ,0eO Money growing tighter and wage
lower. n
"1s7O. This year s67, ,OOO, QUO Of money was de
stroyed, and sol failures took place. involving
q loss of SSS 242 600. Money was scarce an.
wages Of labor were reduced all over tn
country.
1851. Thirty.five millions Of money this
year is retired, with 2.915 failures and loss 0
S85, $50 900. More men out Of work and wage
| cut down.
.'l87.. Only about Sl2, 600, 900 was destroyed
this year, but such has been the strain upon thu
business OF the country for the past five year,
that this proved the last straw TO 4,O69 business
firms, involving o loss of S12l,05S eco. More
cutting wages and strikes talked Of.
"1S73 This year the storm reached Its eli
max. Business had hoped that. with every
returning season, prospects would brighten
and money would become plenty. Instead Of
this, however, Notwithstanding but u 600 zoo
were destroyed, the people became panic
stricken. and 5, 1856 business firms were preci
plated, with loss o. Sa.s8, 400, ,0OO. Five hun
dred thousand men are thrown out Of employ
ment; wages cut down oil over the country,
and strikes ore of frequent occurance.
1874. Notwithstanding the terrible results
OF the last year, the wine press Of contraction
still creaks on its hinges of death, as round and
round it sweeps out circulation S754 600 certi-
fcates of Indebtedness, which had been made
legal tender money, S85, ,760 600 Treasury notes,
x, S35 ,O45 legal tenders, 5000 900 fractional
currency, and ii 0OO, 900 bank notes, producing
5835 failures, and loss OF 855 $50 900 to credit
sors. A million idle men began to tramp in
search of work. Wages still decline, and
strikes more numerous. III
1876. The volume OF currency, tkfs year was
contracted $40, ,817 41S and the failures reached
7,74o with loss to creditors of SOL ,O6o O0O Two
millions OF laborers out OF work. Famine and
hunger begin to stare them in the face, and
s'tramping" becomes profession.
1876. According to the most reliable estt-
mates, the contraction OF the currency this
year, in the destruction of greenbacks and the
withdrawlof bank currency amounted to about
$S5 OOO with ,O89 failures, and $19l 00O,O 900
loss, during the first quarter of the year. The
aggregate failures for the y1ar reached over
10000. with losses not less than $500, 900, ,ooo
This does not include losses to stockholders,
by foreclosure sale Of railroads. 4 &
What record for ten years Who wonders
times were hard. and men idle. Still with all
this array Of wreck and ruin, with the finger.
board of contraction, at the close of each year,
pointing to the cause, the people were asleep,
or on their knees praying for some interpost-
tion of Providence in their behalf, while John
Sherman went marching on with the torch of
death, to burn the remaining $500, 900, 900 OF
the peoples money. VI Is
Three million men arc out of employment.
Bankruptcies multiplying with great
rapidity.
i The tramp nuisance eliminates.
Wages are cut down to starvation prices.
z; Strikes, riotes and general CONSERVATION
seize the people, and the circulation is cut
down to s6oo, ,ooo, 900.
4 "lS77. The red torch Of the vandal lighted up
the country from Pittsburg to Chicago. These
are the footprints Of the red-mounted despot
the money power. which is still fosging chains
for the limbs Of American industry, with q view
Of enslaving the American populace by robbing
them of their homes and tiresides, and thus
controlling their life, liberty. and pursuit of
happiness, by controlling their wages through
the control and monopoly Of money