The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1894-09-08

condition thnn that which is now indi- 7
Gated. An tcxtile branches are producing /
and consuming more material than ever,
and the demand has rarely ever pressed |
80 closely on the supply. Most WOODEN
mills are running night and day TO meet
orders, and cotton mills are crowded,
while stocks of goods in sight are phe-
nominally low. IL is enough 10
say OF the wooden stuff that sales 40 the
three chief markets since the middle of
May have been lO4 $4,000 pounds Of
wool against s3,O05,0OO last year, an
increase Of 25.S per cent Boot and
shoe shipments show an increase OF five
per cent and cattle receipts az western
markets show an increase Of twenty-five
per cent The treasury has paid out
81 100000 more currency during the
week, while adding 81 ,6O0,0O gold and
10000 silver TO its stocks. Customs
receipts in August show an increase Of
twenty per cent and internal revenues
twelve per cent"
Such was the condition the first week
OF September. The last week OF OF De-
cember following the same authority
published the following summary 81 the
4 year, the first full and complete year
under the Mckinley law.
The most prosperous year ever known
in business closes tomorrow, withstrong-
~ favorable Indications for the future
For this year the volume Of settlements
through the clearing houses is the largest
ever known The largest total Of exports
aud imports ever known in year.
Unprecedented purchases for consump-
ton. Manufacturers have made cX-
traordinary progress The year closes
with all wooden, cotton and silk
machinery fully employed and nsold
stocks much lighter than usual, while the
demand for the coming season already
exceeds the capacity of many mills"
But il may be claimed that this un-
preccdented prosperity was not due 10
the Mckinley law, or 10 the system Of
protection, Of which il was an exponent
To what then, was Il due?
IT certainly sprung up immediately
after that law went into complete opera
ton. 1t certainly co-eXisted with chat
law, until that law and that system
was challenged and overthrow at the
ballot box, and especially through the
vote OF the solid south, which lifted
Calhounsm and English free trade to
power al both ends Of Pennsylvania
avenue.
Then there came change. II came
almost Immediately, as soon MS the
country had time to realize what that
, election meant.
/ Matters went rapidly from bad to
! worse and the new administration had
been in power scarcely ninety days when
! the financial institutions OF the country
came tumbling about the ears OF the
| panic-strickeu business community.
: On August s, 1898, President Clovc-
4 land, addressing the congress, which he
had called in special session, said "Ihe
1 existence oi an alarming and extraordin'
] airy business situation, involving the
I welfare and prosperity OF our people, has
{ constrained me to call together in extra
D session the peoples representatives
4 Our unfortunate financial plight IS not
4 the result OF untoward events nor o
/. conditions related TO our natural re
: sources NOR is il traceable TO any oi tht
e Affections which frequently check M
tionaI growth and prosperity viii
O plenteous crops, with abundantpumsc'
y OF remunoratye production and manu-
4 incture, with unusual invitation to sai'
n investment" etc, etc,
% In his annual message at the opcnInl
d OF the regular session, December, 1893
! President Cleveland used these words
i. at this time, when a depleted publi'
= treasury conironts us, when many ofouI
, people are engaged in the hard strugg'
70 for the neccssaries Of life, and when en
o forced economy is pressing upon lh
d great mass OF our couutrymen, ] dosir'
il to urge with all the earucstness at IN,
r. command that congressional legislation
- be limited by strict economy" Now lc
n. us hear a word from the Democratic
leader o. the senate.
D. In his great speech in reply 10 In
u President on July %, Senator Arthur l
ir German said.
10 ".rho country, Mr., President, il anx
N iously awaiting for q speedy determine
ton Of this question The nationa
N treasury is depleted There Is not sul
- fccnt motley TO pay thccurrent expense
OF the government Factories nre idlC
III workshops are closed, and homes
~ mechanics and laborcrs are tmmpin
\. through the country begging that the
,le may be employed But IL is not ncccs
81 sary TO quote a President or a senator
y. We all know t. Our eyes have seen j;
Our ears have heard IT, lIaggard face
nj Of men, women and children declare il il