The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1916-10-24
DURING
DEMOCRATIC TIMES
A DANGER SIGNAL
T0ALLAMERICANS
Dismal Record of Business Failures
-, in Panic Years of 1893
,. and 1894. ...
CANADIANS WANT
UNDERWOOD TARIFF
Canada Voted Down Reciprocity and
Now They Have All the
Benefits.
CANADIANS WANT
UNDERWOOD TARIFF
By George F. Authier.

By George F. Authier.
Chicago, ILL.,, Oct. 24.-(Special)- -
The dismal record of business fail
ures in the panic years of 1893 and
1894 have stood for many years as
danger signal to Americans and a
warning of what Democratic admin
istration of the nations affairs sig
.nifies.
1t remained for another Demo
cratic national administration to
break the record established in 1893
4, the first Democratic administra-
tion since the one then in power.
Many Failures.
There were more commercial fail
ures in the six months period fol-
lowing the taking effect of the I'm
derwood tariff bill than there were
in the six months period in 1893
following the start of the panic and
the incumbency of the Democratic
administration.
In 1898. the Democrats took over
the conduct of affairs on March 4.
In the two business quarters that fol-
lowed there were total of 7,214
commercial failures. OF these 3,199
came in the quarter consisting of
April, May and June and 4,O15 came
in the quarter consisting of July,
August and September.
In 1913 the Democrats, again in
power, put the Underwood tariff law
in effect in October of that year. The
first full quarter following was jan
uary, February and March, 1914.
There were 1926 commercial fail
ures in that quarter. In the next
quarter, April, May and June, 1914,
there were 3,717 failures, or total
Of 8,543 for the full six months. This
was 1929 in excess of the failures
in the black period of 1898 above re-
ferred to- Also this~record was made
an the period before the European
war began. ,&>jSsss5} .5>5s',: - -
"a - Not Distributed. ...-.
That the ''war prosperity" has not
been as widely distributed as the ad-
verse effects of the Underwood tariff
have been, is indicated by the COM
plete reports of commercial failures
for the full years of 1914 and 1915,
when the Underwood tariff had sway.
War prosperity made millions for
some, but failures increased to a
point that make the figures for 1898
and 1894 look small.
In 1898 there were Is, ,242 failures
and in 1894 there were 1885, a
total of 29,127 for the two years.
In 1914 there were 1920 fail
ures and in 1915 there were 22,156,
a. total of 40,436 for the two years.
That is the business showing under
two Democratic administrations and
the worse of the two is the one
which endeavors to claim that it has
produced prosperity.
Worst Record Of All.
A. real comprehension of what
Democratic administration means to
American business may be had by
reviewing the commercial fai1ufes
In the panic year of 1893 the total
of failures was 1928 per cent of the
business concerns of the country
Not until 1898, when Republican
policies had steadied the country's
business affairs did the percentage
of failures fall below the mark of
one per cent of the total business
concerns in the United States. And
with the sole exception of 1908 the
percentage of failures did not go
above the one per cent mark until
1914, when the percentage leaped to
10. In 1915 it ascended to 1872
per cent, the worst record of all. 1t
is this figure that shows the vaunted
''Wilson prosperity" enjoyed by those
who benefit from European war or
ders, is not reaching the big bulk of
business of the country.
These are the percentages of fail
ures in the past "a years: 1892, .S8;
1893, 1928; 1894, 1875; 1895, 100;
1896, 1.31; 1897, 1.26; 1898, 10;
1899, 81; 1900, .92; 1901, 90; 1902,
.93; 1903, .94; 1904, .92; 1905, .85;
1906, TT; 1907, .S3; 1908, 1.0S;
1909, 81; 1910, .83; 1911, .SS; 1912,
.98; 1913, 80; 1914, 10; 1915,
1872.
Canada Watching.
Congressman Albert Johnson of
Wash, recently returned
from British Columbia where he made
inquiry as to the great free trade
business now being done by Canada
with the United States. Mr.. John
son brought back with him editorials
from Canadian news and trade papers
in which, fear is openly expressed; that
the people Of the United States will
elect an administration which will
restore tariff to the articles in which
Canada is now doing free of duty a.
thriving business in the markets Of
the United States.
Mr.. Johnson brought back figures
to prove that for eleven months,
ended May 81, this year, Canada sold
in the United States within q few Of
Is much lumber products as the whole
United States sold in an the world.