The Evening dispatch. [volume] (Provo, City, Utah) 1891-1895, 1895-10-11
STILL DODGING.

'Our friend across the block" is still
lodging. We stated that Barring
Brothers failed early in the spring Of
5. 1t might have Oeen in February
hat year. The exact date is imma-
ter,e as that does not affect the results
80 n,iustry and commerce that were
the IopicaI consequences of the wide
81 ref panic that swept over Australia
and ,he united States early in 1898.
Our contemporary says, Barring
Bros. failed in 1888 before the time Of
the figures given. That disposes of the
panicky argument. Granted that
Barring Bros. failed, or rather sus
pended in 1883, They must have re-
sumed, for they suspended again in
1893, and after the mighty crash in
Australia that followed their suspen-
sion, they again resumed and are in
business at this time. Supposing that
all assertions relative to the fall
ure of Barring Bros. are wrong. Sup
posing no such finn ever existed, the
fact remains that early in 1898 the
Australian banks went down to the
tune of S25 100000. One of those con
Germs, the city of Melbourne bank.
failed, indebted to depositors in the
United Kingdom e2,750,UOO, or in the
neighborhood of fourteen millions of
dollars. We pointed out how those
failures affected the wool market by
the helpess wool growers being forced |
TO place their product on the market at |
what it would bring. We also pointed
out that like results in the United
States affected the wool growers il a
corresponding manner. We pointed
out that the first clips of Utah wool
brought Is cents per pound in 1898.
We pointed out, through the refusal of
the banks to lend money, that buyers
were called home and competition for
wool was destroyed, and sheepmen were
foced to sell for what they could get and h
which sufficiently accounts for the low
price of wool during that year without
charging it to the Wilson bill which ,
was not in force. Without touching !
On such plain results of the condition
If the money market, our cotemporary y
5akes advantage of what it claims to
De an error of dates as to an immater- !
al fact, and says, "thdt disposes of 4
he panicky argument. We defy ''our
riend across the block'' to refute our
laims as to the causes of the low price .
f wool during 1898. The same causes
hat resulted in the decline of wool /,
sd the same effect on the price of .,
buttons and stock sheep. Under the
influence of the Wilson G
ill, wool has advanced to a paying
gure as will be seen by an article in
his impression entitled "The Wool
industry" W
If the artful dodger across the block M
not satisfied with our assertion as to d
he causes of the decline in the price r,
wool, and in fact of everything else. 81
erhaps its. spiritual nature will be ID
soothed by our quoting from "
Ie morning church organ of Salt Lake E,
ty and which has become such an Or
Ithority on church discipline, and La
hose editor, although a rascal, knows r.,
ore than our slippery friend across
Q block:
When the congress in 1873, DESTROYED
Ii the the real money on which trade the
were founded, the wheels :;
commerce kept revolving, 1T is true. VI
{ with ever lesseninG speed, until at LIZ
end of twenty years its process of me