The Middleburgh post. [volume] (Middleburgh, Snyder Co., Pa.) 1883-1916, 1897-10-21
Result of Free Trade and Pro.
tective Laws.
ONE BRINGS RUIN;
THE OTHER PROSPERITY
Sixty Days Under the Wilson Bill
and Sixty Under the
Dingley Law.

nave suggested q comparison OF the
conditions during the two months in
question with those Of the correspond
ing date in the first year Of the Cleve-
land administration, during which
time the free trade congress elected
with President Cleveland was just be-
ginning its attack upon the protective
system which the Dingley law 60 days
ago re-established.
The two periods from July "a to Sept.
"a, in the years of 1898 and 1897, re-
spectively, present a marked contract
as to business conditions, and 1t is pos
sible to obtain from government rec
ords some data bearing upon this sub
ject and now especially interesting.
SIXTY DAYS UNDER WILSON LAW.
The following data, gathered largely
from official reports, presents n picture
OF the GO day period Of the year 1893.
with which the two months just ended
correspond. both as to the portion of
the year and the period Of the presi-
Dental administration and also proxim-
ity to tariff legislation.
Week ending June "a, 1S93.-Failure
of BeZeman, Mont, National bank.
Four Denver banks closed their doors.
Bank suspensions in other western cit
les. Two bank failures in Milwaukee
and runs on numerous other banks.
Commercial bank. Of Denver. fails;
capital. $25O. 1000. Bank failures at Ver-
non. Tex. and Knoxville. Tenn; capt.
tai, $4,000 Failure of Tacoma, Wash.
National bank; capital. 100000; also
failures Of banks at Great Falls, Mont,
and Orlando. Fla; capital. $500. 900. Sus-
pension Of work In manufactures re-
ported from al sections.
Week ending Aug. l. 1s93.-National
banks at Manchester. N. H.. and In
dianapolis, Ind, fail: capital. $500.000.
Failure Of First National bank at Spo-
kane, Wash: capital. $3.50. 900. Ten banks
suspend in one day (July 30; capital.
$4,000, 900. Bank failures In South Da-
kota. Montana, Illinois. Kansas. Texas.
Washington, New Hampshire, and cor
respOndingly large number Of business
suspensions.
Week ending Aug. 8. 1s93.-Collapse
OF Chicago provision deal and many
failures of commission houses. Failure
Of National bank Of Ell Paso. Tex. Fall
ure Of National bank Of San Antonio,
Tex. Failure OF National bank OF Mum
Gle. Ind. Fifty-third congress meets
in special session to begin Its destruc-
ton of the Mckinley law.
Week ending Aug. 2S, 1S93.-Encoun-
ter between the anarchists and social
lists averted by the New York police.
Meeting Of anarchists broken up by
New York police. Failure of National
bank at Hindman, Pa. Failure Of Ma
tional bank at Tacoma, Wash. Sus-
pension of manufacturing establish
ments in numerous states. Announce
ment by comptroller of the currency
that 1856 national banks failed during
the year ending Aug. 2S. Railroad re-
ceivers appointed during August for
Northern Pacific. Philadelphia and
Reading, New England and Pittsburg,
Akron and Western.
Observation-Disclosures receivers ap-
pointed for Wisconsin Central, Chicago,
Peoria and st. Louis, Cleveland, Canton
and Southern and Evansville and Terre
Haute railroads. The mileage of roads
placed in the hands of receivers dur
ing the year 1893 was 25,375, nearly one
seventh of all the lines of the United
States, and their Indebtedness $l,212,-
2l703S. During the year there were
1918 mercantile suspensions. involved
liabilities amounting to $346. 779, $50.
During the bank suspensions of July
loans were made on call at the New
York Stock Exchange as high as ~
per cent
SIXTY DAYS UNDER DINGLEY
LAW.
The following statements of revival
Of manufacturing industries during the
go days following the enactment Of the
Dingley law, the period corresponding |
with the similar dates in the first year
Of Cleveland's second term, show the
contrast between present conditions |
and those of the corresponding months |
Of the preceding administration. The
statements which follow are from |
Financial Journal:
Week ending July "a, 1S97.-Twenty |
thousand workmen resume work in the |
iron and steel industries. Bigelow Car
pet company, at Clinton, Mass, re-
sumo work; 900 hands. Packer colliery. |
at Rappahannock, Pa. resume work;
!, 900 hands. Columbus, o., Buggy COM
pany resumes; 400 men. c. b. and Q. |
company reports full complement Of
hands at work In its railroad shops for
first time in several years. Chatta- |
nooga Tradesmen announces large num-
Der Of iron furnaces in the south re-
suming work. McKenna steel works, |
Joliet, Ills, resume; 400 hands. Spin
ners at silk mill. Paterson, N. j., re-
ceive increase in wages from to 20
per cent. Pttsburg Plate Glass COM
pany, Kokomo. Ind. resumes: 800 I
hands. Jones & Laughlin Iron works.
Pittsburg, resume $500 hands. Maine
Central railroad increases wages Of
employees.
Week ending July 81. 1s97.-Tod fur !
naces, Youngstown. o.. resume work. I,
Numbers Of manufacturing concerns In /
and Pennsylvania resume
work. Furnaces at Birmingham and
Bessemer, Ala. resume work. Algon-
quin woolen mills, Passaic, N. j.. in
crease wages 10 to Is per cent. Atchi-
son Railway company announce in
ability to supply new cars to meet de-
Of shippers.
Week ending Aug. Z. 1897.-Ensign
Car Manufacturing company. Hunting
ton, w. Va, resumes work. Cleveland.
O., rolling mills resume; 1000 hands.
8uRNr producern of Louiniana advance