New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-10-27
THE NEW HILL

Some weak minded persons have been taiK-
ing with approval Of the new Ill., ~ II ''
man had somehow changed his character III"
had an access OF virtue and patriotism since he
wont 10 Washington. The speech OF Senator
Hill nj Brooklyn and other recent speeches. u!
him ought to cover these people win cohlu>'""'
Not in his worst days did Mr. Hi show more
recklcssness or mendacity In assertion IMAM III
his Brooklyn speech, and the respectable men
who appeared on the same platform win MN
should have been ashamed Of their association.
Tins he remarked about the removal OF IN"
dutv ON wool that I, was expected 10 dcpr'Ss
the prIce. but that wool had been rising in price
recently.
Mr.. Hi knew perfectly well. as his respect
oble associates know that the prices Of nearly
all kinds Of wool were depressed about to the
frcc-wool point in anticipation Of the new tariff
before it wa, actually passed. He and they
know that the slight advance about a month
ago was due to the impression that the London
wool sales would show decidedly higher prices.
but that the markets were disappointed because
the advance at those sales was only about per
cent. and less than the previous advance in
other trading and that the prices Of wool have
since been lower, close to the lowest ever
known, and far below the ruling price at any
time prior TO the Democratic victory In lS''2
The Senator * simply mcndacious, and yet he
goes on TO say that not "A single manufacturer
has objected to the change Of duties. 1t would
be difficult 10 put more impudence and more
falsehood into one assertion.
The Senator asserts that "thc signs Of the
times show returning prosperity on every hand
Manufacturers are resumlng work all over the
country" and he then adds that $50 more per
sons are employed in factories Of Chautauqua
County than II year age" Ii Is quite likely The
industries Of the country were Frustrated year
ago by expectation Of the radical change Of
tariff which Senator Hill pugnaciousy demand
cd but which he failed to get Because Con-
gress has done less harm than might have been
expected, some gain In Industries Is natural
enough But the Senator Is guilty Of intcn
tional fasehood by suppression Of the fact that
all the improvement does not yet make the vol
ume of business much ms thrce-quartcrs of
what 1t was in 1892. before the Democrats OBJ
tanned power to change the National policy.
In October thus far the payments through the
principal clearing houses OF the country have
averaged daily 3S pei cent more than year
ago, which Is not an astonishing gain. but 20.S
per cent less than In October, 1892, the month
before the Democratic victory.
Money is becoming easier" says this Demo
cratic statesman. Is II conceivable that he does
not know the fact that The unnatural ease Of
money ut this time is sure indication and a
necessary result Of the depression Of business
When three OF the trust companies In this city
refuse to pay more than per cent annually on
deposits, and decline to take any new accounts,
having 100000 lying idle. it is plain to every
honest man that money Is cheap because bust
ness is bad. wages low. purchases restricted