The herald., 1895-07-12
LOCAL FIELD OF COMMERCE
The Money Question and the
New York Bankers
IN FAVOR OF HONEST MONEY
The Prospects Of The Seasons Dried
Fruit Product
IN FAVOR OF HONEST MONEY
Stock on Hand and the Industrial Situation
Such That No rIore Than Fair Prices
nay Be Expected

At the third annual convention OF New
York state bankers. opening yesterday
afternoon at Saratoga Springs President
VIM. G. Cornwell in his annual message,
made the following succnct statement as
TO the position of the bankers and the
status of the financial question::
The bankers of New York state are in
favor of honest money. They contend
that the question is not sectional one
that there is no north no south, east or
west in United States money-that the
bert money for the east is the best money
and none too good for the humbl toiier
on the prairies and in the cotton fields:
They insist that every dollar OF debt shall
be paid in a dollar good anywhere and
everywhere throughout the world. They
insist upon this Notwithstanding. and
thoroughly aware that they are them
selves debtors to the people the extent OF
eight hundred and ninety millions in
deposits and one hundred and ninety
three millions of capital and surplus,
which is also the property OF the people.
Debtors to the people to this enormous
extent of nearly eleven hundred millions
of dollars, the bankers of New York state
raise no question as to its liquidation in
sound money, neither have they any
doubt as to what sound money is. They
know that it Is not free coinage of silver
at 16 to 1, and they are unalterably op-
posed to any such wild delusion, because
they are sure that its adoption would
mean reputation, contraction and ruin.
They maintain that sound money is one
hundred cents on the Dollar Of the World
with gold as the standard-a dollar which
paid for in honest labor will buy for the
1aborer a value of honest labor exactly
equal to that which he gave for it, not
only in these United States from the pine
trees to the gulf, but anywhere through
out the broad world where Gods sun.
shine blesses the honest toll OF man.
= = y
At the late meeting of the State Horti-
cultural society A. W. Porter spoke as fol-
lows regarding the dried fruit outlook
for 1895:
Growers and dealers can look back to
the fruit season of 1894 as dragging. un-
satisfactory, and, in the main, unprotit-
able. Though prices opened compara-
lively low, the wage earners OF the
United States had no money to spend for
life, among which dried fruits can hardly
be classed as yet. though. with the low
prices prevailing and their general intro
duction, they are rapidly becoming such.
With the enormous yield OF most varie-
ties and the absolute failure of mono, high
prices were not expected by the growers
OF this state last year, but they had
right to expect that better prices would
rule than prevailed during the greater
part of the year. Che railway strike at
the beginning of the season prevented a
large quantity,,from finding a market east
in fresh state, and as consequence
nothing remained for the producer but to
dry his fruit and it seems to most pro-
ducers that, commencing in June of last
year they have been drying continuously
ever since, Judging fir ON the amount of
oried product placed upon the market.
From best information received. with the
exception of peaches, the crop of fruit is
not large throughout the eastern states
still small crop at the present time will
yield an enormous amount as compared
with the crop of ten or fifteen years ago.
Fruit planting has been carried on in
many of the eastern states to nearly as
great an extent as it has in California, so
that it is not as easy to figure what the
output will be as it was ten years ago
when we consider that but few states
were then producing the bulk of the fruit
of that section. I believe that the season
Just opened will prove satisfactory one
to the growers and handlers of California
fruit, and. believing that the interest of
thesproducer aud the seller are identical.
lishedssbetween them, as we are both work
ing for the same end, namely, fair prices
and profit on our business.
y = y
Fruit prices are advancing and buyers
for the Gamers are still active. Their
operations are restricting eastern ship
ments and will make it easier perhaps for
the California Growers and Shippers as
sociation to get the eastern business into
better shape. When fruit is scarce and
in demand buyers and dealers are in bet
ter mood, and it will be we'll now to get
everything into as good shape as possible
for next years greater shipping season.