The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-09-10

E-FerE os- OF space was oocup pied. au1
Spectators unable % 1n9 seats gathered
IKE / fringe sroGn1 tis= group OF Grand
ARMY uleE- TIE speakers were EEerrzso.a
". Craven. Ma A. :. Cole. u W1agcorr.
Col Charles & C1avpool. az Tacoma, aza
Cox }. v. Scott. Of Por- Townsend Chief
Justice joan ?. How was az Interested
spectator.
Ir. Craven Gives the Figures.
Al the outset Nj Craven took ID ne
statement OF the Popocrars that during
HArr;son'a administration the country
vas sliding down 20 tae great financial
depression under which we are now a Dor
laE- He said.
The evidence = positively ovprxae IT.
ing and convincing % any 1air-mlnded
man t1at during Harrison's adEuin.S1ra-
ton She country Is q whole was n AT aN-
eeedangly prosperous condition. and thai
tne year ~ maTks TIE high tide Of indus
trial and commercial prosperity n rllss
country Dun's weekly review 81 trade
speaking or cac year ending June 81 lSse
SAID; \ fiscal year never matched n taa
W1oie history OF me country. II volume
OF industrial production. ii magnitude Of
domestic exchanges or n foreign trade.
mas just closed Dun Tor December Z,
AZ. said A4le most prosperous year
ever known II business closes today. The
year closes with all WOODEN. cotton and
six machinery fully employed ana IN
sold stocks OF goods much iigater taan
usual. while the demand FOR the coming
season already exceeds the capacity 81
many mills
one year later, on December 80 1Sas
Bradstreet's stated that chaC year would
70 down IN history market! as the worst
one Tor the industry Of the country n
eighty years, that there were more shau
enc million wage earners CUT 0L en-
psoyne8t than rlere were at tie close o.
- -
mad suspended during me year were SIas-
ts@99. or twcuty-e.gll times The Habtii-
Ties " The banks thar had suspended dur
ing lSs2
N closing this part of his speech Nr.
craven made 3 striking resume Of the con
dition OF ne country n the .wo admins
tratiens, and showed plainly that the
change from great prosperity 70 great
adversely began about March, 1893.
During Harrison's admlnlsGra ton. he
SAID, all running expenses Of the GOV
eminent We're paid cut OF plentiful reve-
nueS. and S-Jiossl.f..l was paid on taa pub
Tic debt. During Cleveland adnaiuistra-
tlon, with ! rartf for def1ci, only. We are
borrowing money % pay The expenses q
rhs government, and have increased! our
bonded debt over 500 ~ no with an an
nua! interest charge Of sII.0o0Ga In 1872
the lun Der Of business failures was small
or tnAn X had been for i've years. IN 1888.
he number Of business failures was The
largest ever known III any one wear In
1892. the percentage Of business men fail
Ing Vas smaller than Il had been for zen
years. In lssS, Il was The largest on rec
ord IN IsS2. ths liabilities Of tha men and
firms that failed IN business were. accord
ing 20 Dun's only sIl4 500 ago smaller than
they had been since IsS9 Does that look
as though We We're sliding down al that
time into commercial ruin In 1888 the
Liabilities OF the men ana firms hat failed
II business were SST.0n 40. Is anything
more needed 20 show the sudden and fear
ful plunge we took down into the abyss
o. h2rd times We diG not glide grad
ualy into this whirlpool % distress: we
plunged into ii rs 4 log plunges over Sno-
qualmie's prec.pice
During HarTison's administration the
bank eisdrings OF the United States. which
are the best indication OF the state Of bust
ness IN The country, Jumped from IN an
nu2l average Of fOrty-eignt billion dollars
during Cieveland's first administration y
an annual average Of fifty-nine billion fof-
lars, an Increase Of . per cent. Almost
As soon a. Cleveland was inaugurated II
March. 1885 the bank ciearirgs Of the
country began 20 decrease Those Tor
March and April were'S per cent. less than
Tor January and February For March.
April and May. they were 5 per cent. less
than FOR me three months preceding For
the year beginning March :. lSg3 me bank
cieartogs We're Twelve billion dollars. or
IL per cent. less taan sor The year b.
ginning March J. lsee- For tne year be-
ginning March :. 1s94. rev were seveuteaa
Billion dollars, or = ner cent. less ttsac
Tor r0c year ending March :. 80.
During thirty vears x weat or friends.
the enemy. -al Republican mis~,ile. from
tsfS % March 2, lSs9, ~ national hanks
wen. into tae hands az receivers During
t'e are1 year NJ Cievelauf's adm.Hlstr3-