The sun., 1896-09-22
wHAr WrLb hEsuLrg
The Great 0atu for Everybody which VIII
Cohae rrona the Election OF McKiniey.

1
r Cohae rrous the Eieetion OF McKiniey.
To THE EDITOR OF Tur suS-Str: In tn
latter part of August, 1870, q Junior member c
the flrm of Adam Hone & Co., iron merchants
, OF Montreal and Hamilton. called on me at M
ohice In Oshawa and offered 10 COLL me so
tons OF No. Summeree pig iron at,Sl7 pc
ton. upon a credit OF ak months, or 1ve pc
cent discount for cash In thirty days, Tn
same brand OF pig iron had never been offere,
so.low in the history OF the iron industry. A
1 believed the price would fall still lower,
destined 20 accept the offer. Within ttirtl
days applied by telegraph to tho same hous,
and asked for a quotation OF 500 tons of tn,
same brand Of iron. The nrm repliee, "Car
only book orders at price current upon the day
OF delivery; cannot agree to deliver at any
specific date" then telegraphed to various
| Iron producers in this country, and found all
| OF them.oversold. BY this time the price had
| risen nearly 100 per cent, and the best brands
| of Scotch iron could not be purchased In Mon.
treh1 Mt any nrice for delivery before the close
| nj navigation. A little later ] purchased 900
tons Of west Of England iron, far inferior to
summerlee, at $50 per ton, ex-vessel at Hamil-
ton, too late TO have It reshpped by vessel that
| fall TO the port of 0shawa. This iron re-
sold on the wharf at Hamilton for $40 per
ton, Summerlee being at that time worth $4S
and $50 per ton.
The ammo conditions Of supply and demand
exist in this country at the present time. There
fs an enormous stock of manufactured 0oods
in the hands of the producers, and the shelves
Of the retail merchants are almost bare of tho
same clnss os goods. There Is an enormous
crop in the hands OF the farmers. which must
find market in Europe or the Atlantic States.
The rolling stock of-our railways is eadty
In need of repair, in fact, must be repaired be-
fore the enormous crops can be carried East
and the stocks OF merchandise in tho hands Of
producers can be delivered to the retailers.
In 1870 the managers of our great railway
systems were the fret to discover that there
would be an Unprecedented demand for iron,
and quietly purchased the enormous surplus
In the hands OF iron producers. and when tho
general public began to buy fall ard winter sup
plies the price was immediately more than
price or bar iron and steel rails.
There " one element of danger at the present
time which did not exist in 1870. that is, the
he ST hs a the adnsef sef
the price OF pig iron will advance rapidly to at
least $50 per ton, and bar iron and steel rails
We can produce in this country. at least
100 h,oooooo tons $ Of pig iron per month; there
ber we can produce 1000, 900 tons of pig iron.
II Mckinley is elected It will be worth at
Least Th SlU3o9 .: 900 more san than It is to-day.
In Montreal and Liverpool advised me to pur-
chase two years supply of pig iron. as the
the demand for at least two years to come. I
questioned the soundness OF their opinions, |
saw the Hon. James Brackett. who was an |
iron producer, and asked him his private opin- |
ion; He replied that the American producers |
had already overtaken the demand, and ad- |
vIsed me to sell all the pig iron had over and
above what required for consumption before
TO canada and sold the 800 tons had on the
wharf nj Hamilton, On Il G LIST of May could
price for which sold 1t in February.
1ooi acS II 1sG @ ang pks PLACE
elected. Just as certain as the sun rises In the
'ast and sets in the west.
The same state of affairs exists in relation to
ion TO greater or less extent. Cotton, wool
an, linen, and silk goods Will be in great de-
'ats barley, and animals and their products
There Is markel. improvement in the condi-
ion OF European Industries. and therefore
here will he a marked increase in the power
y European communities to consume our sur
'lus, and there will be an advance in prices
to the increase in the demand.
There will be great urgency on the part of
ealers to ship Western. products to tidewater
Mates to the Interior The demand for tTanss
'ortatton will overtax the capacity of our great
aliway systems, and there will b., an enor-
nous demand for new rolling stock and for
n turn will create q greater demand for iron
u I
marvellous demand for skilled labor in every
apartment of .productlon and distribution,
in It IN os IN ,Is and also
consume manufactured goods.
Our great Industrial establishments will
hinery In repair and in active operation. and
un 1t under high pressure. There - an enor-
nous vacuum TO b., filled on the shelves OF the
all merchants, and this alone will keep the
heels of our manufactures humminE for
months TO come.
There are eighteen millions of families in
his country or four persons each. II they
re all fully employed at good wages, they
ave earned the past year for the year com
aencing Noy. next. This means for the
nGs for single year of 81. .O4O, ,OOO. 900. This
leans that the power or consumption will be
nd necessarily there must be an r."f Increased :
ke estimate of $50 per family FOR the Ger di;Ier
, ages and partial employmet at reduced
,aEes Is very conservative one. and there.
ION of Mckinley and Hobart viii he worth 10 !
10 a. nation a. least $1,000 900 Tor the
gagged in prodacton TSt or strbMtiSnp xSfS persGh wI
hare In this enormous increase of earnings.
If Bryan is elected we shall have distrust in ,
lace or active emrloSment, distress and
liScry In the place Of enjoyment, doubt for
anic such as we had in 1861, then period OF :
lfin don, sudden. active, end VIC ent fluctua-
oho Al values. Legitimate hnslness Will be- 1
Dme gambling on the fluctuations In the /
aiue iue o. colo as compared 10 paper money or n
liver. The poor and comparatively poor will I,
iier as they always do in financial panic.
he enormously wealthy will reap great
aryest, because they can absorb the surplus
!, the r9or and compnratiycy poor Mt panic n
rices. Initiation will end In collapse with a ! /
ng period Of doubt and distress and enforced a
lentsS and misery II is for electors of this i
,public TO decide upon the Sd day of NoveIn- I
Or next which OF the two policies they will | d
iopt, the path Of safety, or the broad road to a
lin. FRANCIS WAYIANn GLEN .
NEW York, Sept. II. I
Y0UNG MEN rOR M,KTNIEY. ;