Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-08-27


ample enc3urag, ment 90 the orCupa.
tons Of this American people wniuh,
above all else, H. 40 impcrauvriy de-
manded NJ this iunoturv Of our nnIlon-
al afisiTH.
nARWsoN's TESTIMONY.
In December, 1899, President HArrl.
son sen, hls last ncssage ~ Congress.
it was m able and exhaustive review
Of ihv condition and resources Of the
country, 10 stated our situation 10 nc.
cufsiely that l am suto u will not bu
amlai 10 reoi,e bic official ana valuable
testimony. "Hhefe never Inns been
time M our history" said he, "whon
work wau 70 abundant, OF when wages
were so high, whether measured by tne
currency Ia which they arc pait, Ot by
their power TO supply the noouatifiua
aud q m'oftH OF life. The general aver.
ago " prices has been such aH 10 give
10 agriculture lair participation IN tho
gunvfnl prosperity. The new intufifiAl
plants established tiuce October G,ls90.
and up 20 October %, 1892, number
$40, aud tue extensions OF existing
plauls los Toe now capital invested
amounts 20 i1.4i5,06 and the NUM-
Der OF additional employees 1885.
During the first six mouihs u the
present calendar year l35luew factories
were built, OF which forty were cotton
minis, forty.oight knitting mills, TWEEN
ty-siE WOODEN mills, fiiteon silk mills,
four plush mile nnd two linen mills.
| OF the forty cotton mile, twenty-One
| have been built in the Southern states. 4"
This fairly describes tue happy con-
dltlon OF tho country Ia December,
I hu Al lsswN ali n H.H
what Ia II nOwg
Tue messages Of President CleVc.
land from the beginning OF this second
administration 10 tho present time
abound with descriptions OF the do.
| plorablo industrial and financial 6ituA.
ton OF the country. While no lTesorl
10 history or official statement IL re-
| quired 10 advise ~ Of the present com
aiton, anu that which has ptovailcd
during tho post three years, l
venture 60 quote from PfeaidonI
| Clevolan1'i nrat mUssngo, August
8, 1893, addressed 10 tue Fity-tnird
| Congress, which he hnu called
together In extraordinary session.
"lhe existence VI an alarming and ok.
tTaordinary business aituation,n said
he, "invOlviug the welfare anu pros.
pbrlty Ut all people, has constrained me
10 call together Ia extra session the
peUplt'H representatives In Congress,
10 the end that through tue wise and
patriotic exorolao OF tho legislative
duties with which they are solely
charged the present evils mny 10 miti.
gated ana dangers threatening tbs
futuro may DO avertei. oar uniOT.
tunate financial plight IL noI the result
Of untowari events nor Of conditions
related 10 our natural resources. NOT
In It trncenblu 10 any OF tho all lolona
which frequently check natinnRl
growth Rud prosperity. With plon-
teous crops, with abundant promise OF
gemunerauvu production pnd manu-.
facluge, with unusual invitation ~ safe
Investment, aud with satisfactory rs.
surancos 10 business enterprises, sud
denly financial disttust hiss sprung ul
ON every side. Numerous moneyed
Institutions have suspended, because
abubusnt assets were not immediate.
iy available 10 meet the de,
mands OF frightened deposilors. Sur
viying corporations ANA individual,
are content to keep In hand the money
they are usually anxious 10 loan, anu
those engaged 10 legitimate busiEss,
are SURPRISED to Hind that tho securities
they offer for lOans, though heretofore
saiisiactofy, are no longer accepted
Values supposed TO bn Fixed are fast be,
coming conleclural, Auu luss and fail
uro have inyaued every branch Of bus.
mess"