The Dalles times-mountaineer. [volume] (The Dalles, Or.) 1882-1904, 1898-03-26
BETTER CONSULT RECORDS

the paper says:
The bank clearings of the Unite,
States during the period intervenin.
between the Sd of November, 1896
when Mckinley was elected, down tt
July Sd, 1897, show continuous and re
peated losses as compared with the
corresponding weeks in the years prioI
that is, comparing Novembe ant
December, 1896, with November ant
December, 1897, and the first sly
months of 1897 with the first si1
months OF 1896, and out of the entire
30 weeks of that time, nearly "A week.
losses recorded as compared with II
gains.
Now we speak of this matter for the
for the American people to keep in
mind the causes which resulted in in
creased bank clearing after July, 1897
and which have continued to increase
with only a few exceptions for the
eight months following and inter.
vening between July Sd, 1897, and
March 5th, 1898.
While our gold-bug friends at this
distance would like to throw sufii-
cient amount of dusv in the eyes of the
public to make them believe that the
publican rule, there is nothing in the
proposition, and the whole business is
accour ted for entirely upon natural
and non-political grounds. Let us re-
peat some familiar facts.
1t was midwinter; or even later, in
the year 1897. when the ''Steel Pool
Trust" was broken, and the price of
S28 ton which had been maintained
by the trust w~s suddenly cut down to
$lS ami Sl7 per ton. The great rail
roads of the country had been living
from hand to mouth through the four
years of hardship which had overtaken
them, and SO crippled had been their
resources as to render improvement
wholly out of the question and only the
most necessary repairs possible-but
when the trust went to pieces the rail-
roads began at once to take advantage
of price which had never had prece-
dent before in the history of the world,
and the wheels of industry in the great
iron and steel manufactures of the
nation began to turn. By the first of
July great strides haa been made in
this direction, and the result began to
be appreciated in the money market
and therefore effected the clearing
house reports.
By the first of August the entire
winter wheat crop of the South and
Central West had been gathered and
found to be an exceptionally good one
and the railroads knew that they
were going to have unusual quantities
of grain to move-and still greater i'm
proyements were ordered.
BY the first of August it was
thoroughly understood that famine
prevailed to such an extent in India
that An ericap bread stuffs must be
imported in unusual quantities
that meant still greater improvements
in the line of added railway transpor-
tation facilities, which must be pur-
chased-manufactured-but all this
meant more work for the iron and steel |
boundaries, more employment for men,
greater activity in business and in |
Il al o,ir
By the middle of August the spring
wheat crop of the United had been as |
sured and by the first of September |
everybody knew that the wheat crop !
of the United States would approxi-
mate six hundred millions of bushels
or nearly one hundred aud fifty million
bushels above the average.
By September 18th the extraordinary
s.short crops" in Europe and Asia had
become known, and then the railroad |
companies of the United States we're
fully made aware that two hundred
million bushels of wheat and four
times as much corn must be sent to
other nations before the spring of 1898
and all of these things meant great
increase of railaoad earnings and an
immense change in the prices of rail-
road stocks and bonds-all of Which
affected the bank clearings of the
United States as never before.
So true have all these statements
proven that while iron and steel in
dustries, railroad transportation COM
panies and the raiser of wheat upon the
farms, the elevator men, who first buy
it and gather, and the great mills OF
the nation which grind it into hour,
have all prospered beyond any prece-
dent in the history of this nation-alf
other industries, like that of cotton 10
New Eaglaud and general agricultural
products through the land, inGepen-
lent of wheat, have remained paralyzed J
feeling the slightest beneficial
,ffects-and never will until silver be {
In the state of Washington it is I
rite to say that while the gram pro-
ucts were aiding US to some extent, a
lew lines of transportation between t
his country and the Orient were TAX v
ng our surplus wheat-it was not un- t
II after the Portland had touched our a
,depositing her tons of yellow .
letal'' from the frozen regions of the d
Torth, that Seattle felt any consider
BILE increase in trade or general busi- S
ess--and today the reason why o
cattle shows an increase in her clear b
lgs of 333 per cent over the cores g.
onding week in March, 1097-is not d
ecause Mckinley is president OF the o
nited States, nor Rogers governor OF "
because OF this great S
scovery of gold in the North. and the W
upon thousands of Argo- Il
auts who are turning their faces to- CT
ard this new kldorado through this ia
he natural gateway from the east to
le north. and it is only fair to ack- OF
Wedge TIE truth. rt
|
MILLIONAIRES. le
President McKinley's official house. = J.
Did is composed of men well supplied r.
ith the goods of this world. Six of
lem are rnillionaires, which probably =
IL /.