The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-08-29
THE Business situation, the Currency
and abe TayiG.

The reports OF the commercial agencies
this week show two things-one the dis
aster that is created by the fear of free
silver with its train of consequences in
the shape Of reputation, depreciation and
s~tagnation; the other, the tendency to re-
yived confidence, based on a. total disbe-
lief that the country will plunge itself
into ruin with its eyes open, by the cleo
ton Of Bryan and either of his running
mates.
The disaster of the situation is well
summed up by R. G. Dun & Co in their
report of failures. The figures are simply
appalling. For the three weeks ending
August 20, the liabilities were $40, 1884, S5
against s6,5ls.S6s last year. Car anything
be more eloquent than these terrible
figures? No wonder Dun's Review re-
marks:-sIf such are the fruits of partial
impairment of confidence, it may without
departure from a non-partisan attitude
be asked, What would follow the change
NAlACl 10 0IAy DAt " Luz w LIN
ures do not tell the whole story. The
stoppage of Industries continues in all
Varts of he country, and those which
smain open are getting very light orders.
Prizes are at their lowest because no
one win buy anything with the threat
of coinage debasement impending. The
elementary reason is obvious. Nobody
will buy at gold prices commodities that
he may have to sell for silver, and nobody
will lend money or give credit so that
purchases may be made. because settle
ment may be made in silver if Bryan is
elected.
If It were worth while talking about
the tariff at such a time these CONNER
cal summaries would furnish SONS
strange Commentaries on the humbug
and falsehood that the Republican talk
ers from Mckinley down to the New
York Press are INDUCING in. We find
that comparing with last year exports
have Increased SO per cent. in August,
while imports nave decreased BOA per
cent, and for last week 40 per cent. In
deed, the excess of imports over exports
IS so great that in spite Of the horrible
uncertainty about gold and silver, imports
of gold have actually recommended. and
over ten million dollars is either on the
way here or is engaged for shipment. Mr..
Mckinley seems to have had a dim per-
ception that it was ldfotic to talk about
the need of protection under such condi-
tions as these. He, therefore. made his
main attack on the tariff on the ground
of IT'S failure to produce sufficient rev
enue for the Governments. To this we only
reply that the present conditions of for
eign trade are merely demonstrative not
permanent. If the financial blockade were
removed and industry, commerce and
consumption were restored to their nor
mai level, the imports would very soon
be restored to such volume as to afford
sufficient revenue. The domestic inter
Hsts Of the country, however, would not
euffer because the growth of our foreign
markets would soon give u capital and
our laboring class such profitable employ
ment as they never enjoyed before. If
our exports grow forty per cent. in a
year at a time when capitalists are afraid
TO risk a dollar how VIA they progress
when the purse strings of enterprise are
relaxed and vigorous efforts are made to
manufacture and sell large quantities of
commodities.
The Abolition os the Lay Judges. =
The decision Of the sunreme cour1 in