The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1896-09-18

III ~. =. ~, 4. .I'...| .1. Il. II - III
~
2. -.
sl.zs5. During the nfit az months 81 me
present eaieniar year ls> new factories
were built Of which 40 Hero cotton miils.
= knitting milis, 30 wooden miIls, Is Mfk
.2lus plush mills. and : lintn mills. OF
z ne IerU cotton mills. twenty -ons have
- N, ~ pailt n the Southern s!Ate1. This
tA.riy describes the happy condition Of the
49, IN ;Decemnefs 1882. What has u
ssen s,nee. and what u Il now
-. - =.
80 ' :. y 'a.'ss -
'The messages Of president Cleveland
from the BEGINNING a 6fn tfcoud adinIn.
istration 70 the present time Rb6und wIth
descriptions Of the depiorahie Industrial
and financial situation 81 he country.
While no resort 70 history or ofacial state
nlent i required % advise rs Of Il d present
condition and that which has prevailed
during the past three years / venture To-
quote from President CiSetiand's arst
message. Aug. 8, 1SeS, addressed 10 the
Fifty-third congress. which be bad called
together In extraordinary session. The
existence o. an alarming and extraordinary
business situation, said he, sinvoising the
welfare and prosperity Of al our people.
has constrained me 10 cal together In
extra session the peoples representatives
70 CONGRESS. 70 the end that through he
wise and patriotic exercise Of the legisla-
i've duties with which they iolely are
charged. the present evils may Do miti-
gated and dangers threatening the future
may Dc aycrtedt Our unfortunate financial
plight = notsthe result II untnW8rd events,
nor o. conditions related 70 our natural re-
source Nor = Y traceabie % any o. the
growth and nro1nsssty WIFI WIN tscs,s
erstiye predust,on ana u M s s,,s
unusual invitsfion a q a ana
with satisfactorv sssi,rsnces a bSssIness
enterprises suddeniv, fnsncisI distrn<f ma
fear have sprunr IN On, every sidS N,imey-
Qua moneyed instittt ions 81 II, i,snsrdsd
because ahtindantl assetS vrsre nal liat,e-
diateIy ayaiiable 10 msef the desans,si- az
frightened depositors. SURVIVING cofpora-
lions and indiyidtfaIs ara content 10 ken
In hand the money they, : afo + usualiy
anxious to loan. and ft,cse eneaRed In
Legitimate business are t,rprised % and
that the securities they offcr for loans,
though heretofore satisfacfory. are no
longer accepted. Values supposed to be-
fixed are fast becoming coi,iectrrai and
l0XH0EQ'
Of business.s :. :,
g x ( Il
Startling and Sudden Change.
..wh,. I. .....,,.. = =.
,.,,,t 49, ~ la! s.aIshns ana sudan1 cnsnge
errs,, n.s ssess pe ets u eikps n1onsns.
M,ha. ~ setnosr. Asszs 70 AusEsS lassi
,,,,s,s..s.s. oc ~, a cnanSe ~ az
,,a.,. ~ ~ AZ oranenes q the Govern
- A.% osen entrusted 20 inc democratic
10y ssa. Mnicn was committed eg4inst the
s plosss.ye. policy that had prevailed untn-
80 1p.eoIy LOT more tnan tnirty-tNo years
IN nrousnt unc1ampied proapefity % the
eo .anasy eno nrmiy pledged 70 III complete
vses.nloM ana me Substitution OF tertm
tol tsvenue only. The change having
Deen aecreed ny the elections In November
y, ", enects were q once anticipated ana felt.
we csn1oI close our eyes % these alter
60 cenoiuons, nor would II DO Wise 20
sActuae Ilom contemplation and inyestigA-
uon me causes which produced them. They
disr.esrd .ns We. .sAnnos - - PsoR Pc
prove our present condition 81 study
Of their causes. In December. tSo2. We
had the same currency and practically the.
same volume Of currency that We have
now. It aggregated In 1Saz s.. 57e. 500 SOL.
In 1883 g. a2s 00o 600, In 1894 s.. s25 ~ .3c1.
and In December. 1895. 81, ie&oo0. 10. The
'per capita Of money has been practically
tho same during this whole period The