Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1908-03-10
Co., of New Orleans failed with liabl-
- q

Co., of New Orleans failed with liabil-
tiles at 50, 100000.
January 8, 1891, the Scottdale rolling
mills and pike works and the Charlotte
furnace and coke works in Pennsyl-
vania closed, throwing 10000 employees
out of work.
January IA. 1891, the American
National bank at Kansas City sus-
pended, with liabilities at 81, $50, 900.
May 8, 1891, the Spring Garden
National bank at Philadelphia closed
it's doors, and the Philadelphia Safe
Deposit and Trust company made an
assignment.
The Homestead strike and other
strikes during 1892, and prior to cleo
ton day, are we'll remembered by the
people.
| The record discloses that the first in
dica.ions of the so-called panic of 1893
were given November IA. 1890, little
more than thirty days after the McKin-
| ley tariff bill became law. From that
day the panic ragged, and while its
effects were felt for several years it
reached its worse stage in 1898. and
during the early days of 1894, during
all of which time the republican tariff
/ law was in effect.
The late Thomas B. Reed, after his
retirement from the speakership, de-
livered speech in New York in which
he said: Another thing which led
this country into the error of 1892 was
the history of the last thirty years
During all that time we have been
prosperous" The New York World
called this ''cold, colossal and impu
dent Justification of history" and said
that 1t must have astOnished those
among his hearers, whose memories
were more than one year long. Then
this New York paper gave Mr.. Reed
these interesting reminders:
1.-THE panic of 1898, under republican
rule and twelve years of high tariff tax
alton, was the most disastrous and the
period of business depression for five
years thereafter was the most severe of
any in history. 1t was officially esti-
mated that 5000, 900 workingmen were
out of employment. Bankruptcy was
widespread. A tidal wave of ruin and
distress swept over the country.
"From 1881 to 1885, under two repub-
lican tariffs, there were labor strikes
involving 22,3O0 establishments and
1925, 203 workmen. OF these strikes
9,439 were for an increase of wages and
1874 against reduction of wages.
MIR. Reeds party tinkered the tariff
in 1888. In that year there were 9,184
business failures, involving S172, S74 900.
In 1874 there were 1O,96S failures, in
volving 1926; 343 900. In the next year,
still under the republican tariff and
currency laws, there was general
business depression. More than 600,
600 men were out of employment
'In 1890 the Mckinley bill was passed
and there were 1O,673 failures in
that year, and 1884 the next, with
liabilities in each year amounting
to nearly $500, 900. The tariff was
raised nearly fifty per cent, but wages
either stood still or declined, while the
prices of necessities advanced. The
protected manufacturers kept ali their
bonus as usual.
| Cramps and trusts, the twin prod
ucts of monopolists tariff, were prac-
tically unknown in this country until
we had endured uninterrupted republi-
can rule for dozen years. 80
THE worst labor troubles, the blood,
lest riots, tho most destructive strikes,
the most brutal lockouts ever known in
any country have occurred here under
the high tariffs, bought, made and paid
for by the contributors of the republi-
can campaign funds"
1t might be we'll for Commoner read
ers to clip this statement from The
Commoner and have it in convenient
form to show to their republican neigh
bors who may have been deceived by
the GrOsvenor claims.
| O$