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

IlOSt l1IOSI)elQllS tlEHeS CulS cOull-
tryeverenjoyed!' But Secretary
came. to the help of the =,
banksby buying bonds for $780,
900, GOO and emptied the treas
.lry Of every available dollar.
And that in face of the fact, that |
the sugar duty was taken of and
restricted, and the
free list enlarged 10y the Mckin-
ley act, necessarily leading to di-
revenue. Yet this act
OF Window as well as the boun-
tiful crops of 1901 delayed the
impending panic fora while. But
che disastrous effect OF the Sher-
man law in demonetizing silver,
and OF the Mckinley act in din,in-
ishing revenue was now begin
ming to be felt. The panic of
1890 was really preripitated by
the passage Of these acts, thouGhY
unfavorabIe conditions existed
before, as stated by the Comp
trOller.
In regard to the general condi-
ton OF the country in 1901, the
Comptroller speaks further on as
follows:
AS has been noted the none
tary st,'in.ency eliminated on
the 18th OF November, 1890, and
it's effect within 30 days thereaf-
ter had to considerable extent
passed away, SO far as could be
observed in the larger cities. Its
effect upon the country at large,
however, still continued. 1nabil-
ity to place securities and to
borrow money had arrested the
operations OF a great multitude
Of corporations scat tered all over
the country, and Insolvency and
failures had in a large number Of
eases ensuetl. Where failures did
not take place new work was
stopped, all credits were curtail-
ed, and business in it's different
forms became greatly depressed.
The growth OF cities and villages
was in many cases arrested, and
the prices OF property, especially
Of q suburban character. became
greatly reduced. >"
There YOU have it! From the
pen OF Il Republican officer OF the
treasury department. In 1891,
mind YOU, under Ben. Harrison,
mind YOU. There you have it
in black and white. No. Bro.
Eastman, blot out first your own
Republican reports OF the treas
ury, and then begin to talk
moonshine to your beniyh.el
readers. All a populist has to
do to damn you and your party
is to take your own authority
and read from your own admin
istr;ltion officers reports.
Here is what the Comptroller
says in conclusion of his reports
of 1891:
''Durlng the year covered by
this report the country has been
passing through a characteristics,
unique in it's character but Of
great severity"
Now il any one doubts these
quotations, just come to our Of
flee and inspect the reports y our
self.
Just think Of it! The Republic
can Comptroller Of the currency
says: that this country had fl
nancial crisis Of great severity in
1901. The editor of the st. Cloud
Journal Press, also a Republican,
says we had the most prosperous
times this country ever enjoyed
Now these are Republican facts
and Republican facts.
AS we have stated the panic
was in measure arrested before
it reached us out here ON the
prairies. But all the commercial
centres and cities OF any size felt
it. City real estate began to de.
preciate for good. as allinvestors
remember to their SORROW. There
was hard times in 1892. This
was what brought about the
Democratic landslide. The Dem.
Ocrats promised to reform the
tariff and repeal the "parity
clause" Of the Sherman law and
the people voted them into pow.
er. But when they did come into
power they found an empty treas
sury and q diminished revenue
and vastly augmented expendi
tures by virtue Of laws passed. by
the Republicans. The none,
men III Wall Street had condi
tions ready to spring their panic
to compel the repeal Of the pur
chasing clause Of the Sherman
law. The Republican politicians
had the trap set for the Demo
Gratis and the latter was caught
nicely, and got all the blame al
though the panic and hard time.
were the inevitable result of Re
publican legislation. Later or
we were told that all this coun
try wanted was confidence, con
tidence iii heparty in power, ant