The Dawson news. (Dawson, Ga.) 1889-current, 1917-07-31
PANIC OF 1887
CAUSED MOB RULE
SHORT CROPS AND HIGH PRICES
:. ADDED TO NEW YORK'S
MANY TERRORS.

Inc panic OF 1881 was one OF the
most severe this country has ever
experienced. Owing to the scarcity
of money every sort of business re-
ceived a sudden and severe shock
The price of money rose, and none
but those with the best security
could get it at any terms, says the
Philadelphia Press.
The financial suffering was still
further aggravated by the scarcity
and high price of flour in the East
ern cities. The Hessian fly had made
such ravages that the crops along
the Atlantic coast states were almost
complete failure. In certain sec
tons it was recommended that the
legislature establish public granaries
for the storage of wheat.
Affairs in New York were brought
to crisis by the leaders of the Anti
monopoly, Equal Rights or Locofoco
party, who plastered the falls and
fences of the city with a handbill
calling meeting of the people to be
held in the city park.
On the afternoon appointed some
5000 persons, mostly foreigners,
gathered in front of the city hall.
Moses Jacques was chosen chairman,
but the crowd was quickly parted
into groups and addressed by several
speakers. Conspicuous among the
orators was Alexander Ming, Jr.,
many times a candidate for city re-
corder. He closed his harangue by
offering a set of resolutions to be
presented to the legislature and pray
ing for law prohibiting the circula-
ton of bank notes under 500. They
were adopted, Az Ming was carried
eff on the shoulders of his admirers.
Another speaker meanwhile was
addressing another group of listeners
and carried away by the denunciation
of the holders of flour, exclaimed:
Fellow citizens, Mr.. Hart has now
$4,000 barrels of flour in his store.
Let us go and offer him ST barrel,
and if he does not take it''-here
soembody touched him on the shout
derive shall depart from him in
peace"
The hint was enough, and his
hearers set on in body for the ware
house of Eli Hart & Co., in Washing
ton street. The clerks on the ap-
proach of the mob, fastened to shut
the doors, but one was burst in and
barrels of -four were rolled into the
street and opened.
Mr. Hart, with few police, now
arrived on the scene, but they were
attacked with slaves and stones and
driven from the scene. Barrels Of
flour and sacks of wheat meantime
had been thrown from the window by
scores, and the flour eagerly gather
ed up by women and children. A
thousand bushels of wheat and 500
barrels of -four are said to have been
destroyed.
While the mob was thus engaged
the cry Mech, Meechw was raised,
and party went off toward the East
river to attack the Warehouse of
Mech & Co., but stopped on the way
and sacked the worehouse of Herrick
q Co., and destroyed thirty barrels.
In a card published in the newspa-
pers Hart & Co., remarked that the
impression prevailed that they were
monopolizing -four The truth was
all flour in the city was the property
of the millers and was held under the
control of the owners. It was need
less to say that the destruction of an
article could not tend to reduce the
price. Nor did it, for -four at once
went up SO cents a barrel.
AT second meeting in the park a
few weeks later the crowd came bear
ing flags inscribed "No rag money
give US gold or silver" Down with
chartered monopolies," eve go for
principle; no monopolies," eve will
enjoy our liberties or die in the last
ditch"