The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-09-11
THE TRUTH COMING OUT.

r. G. Dunn & Co., of New York have
done more than anybody else, except
Henry G, Clews, to get up bogus
prosperity, and prove that you could
destroy one-half the money of the
world and still have good times; and
the way they have whooped and
danced and pulled on their boot straps
has been entertaining even If it was
pernicious. But they have got to the
end Of their rope. and are now forced
to confess that things are going down
hill rapidly. Under date of New York,
Sept. g. they say:
ut needs no keen observer to see
that the reaction against rapid adj
vance of prices is strong. Hides we're
the first to rise. but a decided break
has come. Coke was suddenly raised
to $l.40 but has recently sold at 81 10.
Wheat jumped over 60c to SIC, but it
is now slow at about Csc. Wool was
late in rising, but has lost about an
eight Of cent in average price with
in the past fortnight. Iron still rises,
the strike having hindered shipments
OF ore, but, with troops guarding, the
ore begins to move. Cotton is strong,
but has paused. The general ten
dency to curtail purchases where
prices have. notably advanced grows
clearer in boots and shoes, IN wool,
and in some products of iron. The
combinations have again advanced
prices Of bar iron 81 per ton, and Of
wire nails 2Oc per key, while Bessemer
is quoted at $l7.4O at Pittsburg, and
Eastern manufacturers Of imported
ore have again commenced to supply
their Western customers. Special
causes are the wholly unprecedented
bridge building, the continued de-
mand for building in cities, and heavy
ship-building on the lakes. Consump-
tion already hesitates, and railroads
have not much expanded their de-
mand for rails. Copper is also shade
weaker. with larger supplies; tin,
with 26,390 tons in visi BILE stock,
domestic and fOreign; and lead, with
sales Of l 800 tons domestic.
I'm the boot and shoe industry
many sho ps are dischargi,,g hands, and in
wooden manufactures a few works are
closing for ,cant Of orders. Sales Of wool,
which veraged over l0,OO0,OO0 pounds
per week when great speculative
stocks were being taken, have shrunk
to 5, $50, 500 for the week, against 1851, :
300 for the same week in 1892 The
cotton manufacture has risen, with a
strong market 10 help, but a chance
Of a strike for higher wages. The
brightest feature in all the horizon is
the certainty that the crop of corn
will be enormous. Frosts can now
only effect small fraction, and the
surplus will go into the manufacture
OF meals, because at 35.7c at New
York, nearly &c lower than a week
ago, there is no other profitable use
for corn. The latest reports OF wheat
threshing induced the best Western
Judges TO raise their estimate OF yield
over 10000, 900 bushels, and with 49,, :
100000 bushels, added to 10000, 900
bushels brought over, the supply WaU
erceed all probable demands. Atlantic
exports have been only l,647, 1852 bu.
flour included, against 2,790,S6O bu
last year, Pacific shipments continuing
large.
We grieve, from the depths of our
heart, that these things are true, and
we grievc still more to think that
majority of the people seem ready to
vote to sustain the policies of de.
onetiza tion, contraction and banker
government which have brought this
ruin on the whole world. And we
grieve to think of the dangers to the
peace of the world and the interests
Of civilization which are wrapped up
in the continued domination of the
fools and knaveS.