Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1895-04-16

for postage.
REPUBLICAN FACTS, AND REPUB-
LlCAN FACTS.
The st. Cloud Journal-Press OF
April 4th, contained over a col
umn of matter il, answer to our
editorial on it's explanation Of
the hard times headed
"A FEW PLAIN FACTS
and then follows this statement
WHICH the Editor OF the Journal
Press seems to regard as facts:
The Willmar Tribune has n three
column editorial in it's last Issue in at
tempt TO answer Il short editorial ut
the Journal-Press, us to the real
cause Of the hard times. The Fri
hune thinks the whole trouble was
brought about by the ''parity clause"
never occurred to the editor Oi the
Tribune that during the Administered
ton OF Benjamin Harrison. and up
to the time the election of Grover
Cleveland and II Democratic congress
We're announced. was the most pros
porous time this country ever enjoy
ed. Business OF all kinds was good.
men were employed at good wages,
and there was no complaint Of
scarcity of circulating medium. The
public debt was being rapidly de-
creased. and there was no Indications
f money panic. During these
times the "parity clause" Of the Shrr-
man law was in force, and still the
country doomed with business.
Now is this facts or is it simply
a fancy of Bro. Eastmans Re
publican imagination? Now
we shall not offer our own opin-
ions nor Populistic or Democra-
tic theories. bnt the official re-
port OF the comptroller OF the
currency, q Republican officer
under the administration of Pres
ident Harrison, the Doth annual
report delivered to the Speaker
of'the House of Representatives,
Dec. It'll, 1891, covering the year
from Nov. 1, 1890, to Oct. 31st.
1891. 1t may be found in Mes
sages and Documents 1912,
page223. TheComptroller says:
''The year covered by this re-
port ended October 31st, 1891.
During the larger part Of this
period severe depression was eN-
.p6rienced in all sections of the
country, and business it it's vali-
GUS forms was contracted in VOL
ume and unsatisfactory in results.
At the opening Of the report year
the stringency which had char
~::acterized the money market dur
ing the autumn Of 1890 was at
its height, it's most disastrous ef-
'feets' having been felt during the
! month OF November. \ period
OF liquidation then set in which
had hardly spent it's force when
the 'bountiful harvest of 1891
brought much needed relief"
Now we ask Bro. Eastman
what'he thinks OF these Republi-
can facts? But that is not all.
On page 229, he says:
:'The previous report year,
which ended Nov. 1st.. 1890,
showed a comparatively small
number of failures OF National
banking associations. Up to
midsummer of 1890, that year
had been one of more than aver
age business activity. 1t was,
however, apparent in early
spring, to those who were most
.observant ofpassing events. that
unfavorable conditions existed,
the evil effect Of which would ap.
pear in the near future. This
arose from the consideration ol
the factthat observation-disclosures
were in. an satisfactory condi-
ton, and also that over-tradine
and unhealthful expansion were
everywhere APPARENT
Now how is this Bro. Eastman?
Here the Republican Comptroller
>ofrthe Currency, states that un.
der: the administration of;l'enja.
min Harrison, and a Republican
majority, in both Houses III the
year Of 1890, just before the
"pa'ity clause" was enacted,
''unfav orable conditions existed
and THAT this arose from the
fact that agricultural interests
were in an unsatisfactory condi.
tion," and "that theevil effect
~ ould appearin the near future. -
Nhe Sherman law and. the Nc
'kinleyt bill was PASSED to" c,ire
this threatening panic: But III.
stead of curing the ills they ag-
sgrayated them and the panic :Oi
1890 resulted. New York, ::Bos.
ton and Philadelphia had to is
sue, clearing house; certificates to
the extent Of $50 zoe, coo, %
National banks failed with. a cap
'1tal of S3, &C.,, 600 ], the largest
atio1nl 4 Bal:Nt failures since
1873; III other bank failetlw
liabilit les 81 81 aud
their af,sets were Only. valued at
sac. 794, O62 Il. And ny sc i've ore 81
tod BY the Cloud ournal