Pine Bluff daily graphic., 1896-08-28

choice of difficulties, oslght to be q decisive motive far q canlid construction Of the conduct et ke soverlinens in making and for sl'irit ofacquiescence in the measures for obtaining f2Seaiie which the public ex igene'eS may at aAy time dictate
 Animated hs liae sentiments, the peonle of tine country must DOW face the e di tioas which lleSet ttenl.
 The public eYigeneies'' demand prompt protective legislation which will avoid the accumulation af further debt by providing adequate reXenags for tbe expenses of the government. This is manifesty the re- quifenent O. dutY. if elected president of the nited States it will be my aim to vigorously promote this object and give that ample encouragement to the occupa ton of the American people, which, above all lse, Is s0 imperaiiyely demanded at this lanctule of our national affairs.
 Cur Condition In December, 1892:
 In December, 1892. President Harrison sent his last message to congress. It was an able and exhaustive review of the re- sources of the country. IL stated our Situ- ation so accurately that l am sure if will not be amiss to reete his official and vala- able testimony
 There never has been a time in our his tory, said he, when work was so abun- dant or when wages were so high, whether measured by the currency in which they are paid or by their power to supply the neeessaries and comforts of life. The gen eral average 6f prices hxs been such as 10 give to agriculture q fair participation in the general prosperity. The new indus trial plants established since Oct. i, 1890. and up to Oct. ?, 1899, number 345, and the extensions of existing plants l0s. The new capital invested amounts to S40, ,4f6, 060 and the number of additional employees he irST ci bG pf ha present calendar year l83 new factories were built, of which 40 were cottonmif1s, 4S knIttlngmills 26 woolenmills, h silk l mills, plushmills and ? liaenmills. Of the 40 cDttonmils 2l have been built in the southern states
 This fairly describes the happy condition of the country in December, 1892 What has It been since and what is it now
 Our Condition Eight Months Later. l from the beginning of his second admins tratien to the present time abound with l descriptions of the deplorable industrial and financial situation of the country. l While no resort to history or official state ment is required to advise us of the pres enJ condition and that which has pre- 1 vailed during the past three years, I ven ture to quote from President Cleyeand's l first message, Aug. S. 1893, addressed to 1 the fifty-thrd congress, which he called l together Ill extraordinary session.
 The existence of an alarming and ex- l traerdinafy business situation said he Involving the welfare and prosperity of all our people, has constrained me to call together i'll eXtla session the peoples rep l resentatlves in congress, to the end that through the wise and patriotic exercise of the legislative duties with which they solely are charged, the present evil may be mitigated and dangers threatening the l future may be averted. Our unfortunate financial plight is not the result of unto
 ward events nor of conditions related to our natural resources. Nor is it traceable to any of the affiictions which frequently check national growth and prosperity
 With penteous crops, with abundant promise Of remunerative production and manufacture, with unusual invitation
 to safe investment and with sat- 1 iSfactory assurances to business
 enterprise, suddenly financial distrust and fear have sprung up on every side. Nu-
 nlerous monied institutions have sus- pended, because abundant assets were not immediately available to meet the demands of frightened depositors. Surviving cor porations and individuals are content to keep in hand the money they are usually anxious to loan, and those engaged in 1 legitimate business are surprised to find taat the securities they offer for loans though heretofore satisfactory are no longer accepted. Values supposed to be 1 fixed are fast becoming conjectural, and loss and failure have invaded every branch 1 of business "