Huntsville gazette., 1893-07-29
A YEAR AGO.
Effects of the Democratic Administration
on the National Prosperity.


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.
600, 900; the increase at New York in
June over last year being about IS per
cent. Exports from New York in June
gained 15.4 per cent and the aggregate
for the year has been about s1,O27,-
900, 900. 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 5,506. against 6,074 in 1891, and
liabilities $63, ,000 900 against s92, 900, 900,
for five years. Ir spite of the low
prices, additional works are going into
operation, even in the iron manufac,
ture, and yet more in woolen 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 new
| fiscal year with more satisfactory COM
mercial prospects, and there is less fl
nancial apprehension than is usual in
presidential year"
That was in July, 1892, when Benja-
min Harrison was president, the ma
tional government in the control of
the republican party and the people en-
joying unprecedented prosperity.
| The review of r. G.. Dun & Co. for the
| past year has not been issued; and the
sudden loss of prosperity and the
| frighttul 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 ba
told. But the character of the review
is foreshadowed in the concluding sem
tences 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 cIearings 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 tho
situation and outlook the most unfavor-
| able ever known. The volume of busi-
ness is quite large, but at the lowest
prices on record. Trade in woolens ia
much restricted and waiting for future
developments, neither manufacturers
nor merchants caring to take risks
which they can avoid. In boots and
| shoes a somewhat general suspension
of manufacture at the east seems fore
shadowed, 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-
| graph to r. q. Dun e Co., the mer>
camille agency, number for the United
| States 307, and for Canada 27, or 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 30 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 1898
the failures number 6,40l, as against
5,503 during the same period in 1892,
showing an increase of S9S. The total
liabilities of all the failures occurring in
the first six months of 1893 are $685.
900, 900, while for the same period in
1892 they were s62, 900, 900, showing an
increase of s106, ,OO0 O00."
The American people did not recog-
nize a good thing when they had it,
There are thousands Of democrats
throughout 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
the calm, conservative and capable Har-
rison.
Were the election Of last November to
be repeated tomorrow Cleveland would
not carry single northern state.-Al-
bany Journal.
rE"The democratic administration is