The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1896-04-14

issues to morrow, Will say
The regular quarterly statement of
failures shows 4,O34; liabilities of $57,-
425 1876, against $500 last year, with
liabilities of $47, 813 683. and 4,3O4 in the
same quarter of 1894. with liabilities Of
, $64. 1877 1876. The averageliabilities were
$14 246, against $I3,577 last year, and
$I4 900 in 1891
Manufacturing failures were 835
| against 651 last year, with liabilities Of
! $23, 5O7, 1926, against $50, 223. 991 last
year; increase SIG 6 per cent, but the
decrease in comparison with 1891 is
Is 4 per cent. Trading failures were
! 3 118, with liabilities of f31, 424 1912,
| against $25. O79, 1874 last year increase
20 Q per cent but IL comparison With
1891 the decrease i s 9 per cent. The
! ratio Of dofaulted liabilities to pay
ments through cIearin& houses was
81 As per 81. Co.,, the average for the
previous ten years having been 50 II,
and the average per firm in business
was $47 IS against SIS 81 for the pre-
Vi0us ten years. TIE main increase
over last year has been IN manufac
lures in New York, Ohio, and Ken
lucky in tradiE & failures in Texas and
Minnesota, owing to two recent large
defaults. Other commercial failures
are also larger than last year, pr&CGi
cally all the increase being ct the South
Banking failures have been 81 against
80 lest year, bat with liabilities Of only
81, Isl .972 against $13. 1872 537 last year.
BEFORE AND AFTER TAKING.
We again publish the financial views
Of two sDund money, single standard
members Of ClevelanG's Cabinet before
they took the goldbug medicine, whllo
they claimed 70 be s~tateen0an:
Extract from a speech of Hon John
G. Carlisle, delivered IN the House Of
representatives in 1878:
Il know that the worlds stock of TIE
precious metals is nOne too large, and I
see no 4easOn to cOmprahenI that it
will ever become 50. Mankind will be
fortunate indeed if the annual pr0duc
tiOu Of gold and silver shall keep pace
with the annual increase of population,
commerce and Industry. According
to my view Of the subject, the CON
spiracy which seems to have beer
formed here and in Europe to destroy
by legislation from three seventies to
one half the metallic money Of the
world is the most gigantic crime OF this
or any other age. The contamination
- 1-,E- - oL--.- -~,,fl yrINT~,~A-I- 49,
tail more misery upon the human rae
than ell the wars, peStil6nCa and famine
that ever occurred in the history OF the
| world. The absolute and Instantaneous
destruction Of half the entire movable
property Of the world, including houses,
ships, railroads and al! OF her a~pYljances
for carry ing on Commerce, Wnlle it
would be felt scn8lOiy ct the moment
would not produce 8nythNg like the
prolonged distress and GisOrganlzltiOn
Of society that mus inevitably result
from the permanent anuIuIiatiOu OF
one half the metallic money IL the
world"
Extract from a letter written By Hon
Hoke Smith to Col. ". I Peek, Of
Georgia, Sept. 18Th, 1890:
/ LiCLGSOhCO d DtE IL sttCGSITpF
of proposed reform around Whign all
might gather, and out OF them obtain
the very best plan for TIE r,Iitf Of the
people thai IL was possible to pass.
Il Currency with non perishable
agricultural products as a b0s.s, the
Issue to be limited to only d part of the
crop, but not to be called in at the end
OF twelve months. Ga the contrary.
to remain IN circulation until a second
crop Is harvested, and until g portion
Of the second crop may be substituted
for the fist, thereby making il possible
to keep the money IN constant cgrCula
ton, and to prevent q yearly forced
contraction.
2. The free coinage Of silver.
3. The issue O. treasury notes by
which the government bonds might be
redeemed, and instead OF the Iatoi est
bearing bonds o. a legal tender cur
rency substituted.
4. a graded income tax, by which
the large fortunes accumulated in the
hands of the few might be made TO bear
their portion Of the ex pense Of govern
ment.
IS, A reduction of the tariff gener
ally n especially Oh the neces3aries
Of life"
TO SECURE A GOOD STAND.
A DioL1oorJ .--A- ..AA--