The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1894-01-22

Benner's Prophecy.
!, Through the courtesy OF Maurv
ia mes, the hard ware dealer at 8lg
! X ng street. we have been permitted
TO copy the following prophecy, from
the Iron Age OF january lGth.
UndlsmHyed by some very uneom.
/ Portable experience during the past
! few yearp, when the promised boom
, failed to materialize. Samuel Banner
has again ventured on prophecy. lie
following ls the outlook for 1894, as
printed In the latest edition OF that
curious and entertaining book, Ben
i ner's Prophecies"
1T Is somewhat against the desires
OF the writer to predict calamity in
the future business OF this country;
yet. however, yield to the urgent de.
mand from business men for my
!, views.
We are new In the down cycle in
trade and prices, as explained In this
book. In the forecast for 1892 It was
remarked that general business would
langulnh ana low prices would prevail
! for the next six years.
After such disasters as have occur.
red In 1893 the inquiry is a most anx.
ious one. What iss the business out.
look for lSaif My prediction is that
hard times. poor trade. continued
lower prices and general stagnation
in our Industries, will prevail all over
this country throughout this year.
There will be a new and extrnordi.
nary business situation-a com blna.
ton OF adverse Legislative enactme ia
never before experienced In this Gu un.
try.
The repeal OF the silver purchasing
law leaves us squarely on the deadly
gold basis.
There is no doubt OF the Wilson tar.
1T bill passing Congress and beco ming
a law. with some nportanl changes.
Gold basis with low tariff will be
something new in trade conditions,
and Its effects will be to paraiyze the
whole country. II will mean the low
est depthh oil depression IN all our in
dustrles.
4 Speculative booms In business are
ont OF the question-no use to look
for them. The discar1inR OF the silver
dollar as money unit has killed all
speculation. The price OF silver bull.
lion will eventually decline in tho
worlds market, dragging down wheat
wool. cotton and all agricultural pro.
ducts.
1t will be come satisfaction In thes
troublesome times to know that the
greenback will save us from 80 great
calamity as the bursting OF the
jackson paper money In 1887.
The hard times following that die.
sster spread pail OF bankruptcy over
the whole land. Taxes could not be
paid, and the greater part Of the debts
were settled by bankruptcy.
The greenUack was our mainstay in
the long down sweep of prices after
the panic OF 1875. after theBaring panic
OF 1890, ana also after the late panic
lii 1893. We can rely on it after the
coming commercial! panic which Is
low tariff.
No political party should ever bs
voted into power that would advocate
the retirement of the greenback.
Now, at this time. we have no fears
IN regard to the soundness of our
paper money; yet we are in deplor.
able financial condition.
The demonstration of silver In 1873
continues to hang over the business
outlook as a dark and threatening
cloud.
This stealthy act was crime against
God and man, 1t was an unpard ona
Die sin, and no atonement can ever
be made for II 1T has accustomed more
loss to the agricultural, mining and
Industrial interest of this country
than the costs OF all tie wars that hav 0
ever been waged on this continent; IT.
has occasioned more grief. sorrow and
gloom than all other crimes; 1t has
been tho real cause Of declining prices
In lands, grain. wool, cotton. iron and
all else. to lower figures than ever
KNOWN; 1t is the main reason why that
stagnatlon prevails In our Industries
to-day; 1t Is the monster that has
thrown an army OF laborers out OF
mployment-iilled our cities with
men-because there Ia mol
work for them to do.
IL is evident that The money prob /
lem Is predominant for depression I'M
our business affairs. and It is a sad and |
doleful commentary upon the times
that In this free and enlightened
in all the bountles OF Y
nature. inexhaustlble mines of coal, |
iron, gold and silver. boundless aHrl I
cultural reso1rces-that such disas.
ters In business should have occurred
as described, and all this under high
protective taeIif.
III. with all that has happened In the |
past, when in possession OF so favora b. O.
agricultural, manufacturing and min |
Ing advantages, With protection, what
Is to he expected rs a result of the
adoption of a free-trade and ad valo.l
rem low duty tariff. at this time, with
silver monetized?
The low duty tariffs have been
shameful failures In this country.
whenever we have had low tariff. the
general Government became involved
IN debt. manufacturers were crippled.
Tho people were impover shed, and Il
labor was thrown out OF work.
low duty tariff will cause declin.
Ing prices for labor and its produc
lions, resulting In a lessensd ability L
to pay debts. The gold we have will
SOON ny of to Europe to pay for goods
we should manufacture ourselves.
When we had the low tarlil In 1853. %
30 empty was the Treasury that the Ia
President could not draw his salary. u
The tariff was reduced In 1887. In the (,
following year there was a deficiency i
In the revenue, and the Government
was com PEELED to borrow $40 0C0. 0oJ
The low tariff era from 1857 to 1856 8
vas dismal period In tariff history .
The industries Of this country were +,
Frustrated; the people were poor and
IN debt. These four Yeas of low tariff d
0ankrnpted more Iron furnaces and 2
factories, caused more failures ii.
business and reduced the laborlng
man to greater hur dships and priya- Il
lions than ever before known. 4
With low tarlif, on gold basis, we
can look forward to nothing else but
An adjustment OF prices to the low
plane OF foreign countries. The la. 4
Dor OF this country will be forced
iown to the Impoverished condition. J
Of labor In Europe.
What else can be expected but con.
.iLued embarrassed business, bankrupt @
ID manufacturers, unemployed laborlS
Ind ruined farmersy
We sound the note OF warning. y
lard times arc coming, the sting OH
which Will come to every name home, i
SAMUEL BENSER.
DuNDAs, ONO. January /. 1891.
- In
List OF Sales.
January Il
aIth, Il. Aieids Trustee. AT Count uouSe
7pbriiary IL