The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1917-05-10
POWER or RADIUM our FLOUR RIOTS
When Mob Law Ruled For Awhile
In New York City. to-.
DURING THE PANIC OF 1887.


the Terrors of the Financial Disaster,
and Warehouses Were Wrecked by
the Frenzied PopuIace.
The panic of 1887 was one of the
most severe this country has ever eX-
perienced. Owing to the scarcity of
money every sort of business received
sudden and severe check. The price
of money rose, and none but those with
the best security could get it at any
terms.
The financial suffering was still fur
Their aggravated by the scarcity and
high price of -four in the eastern cities.
The Hessian fly had made such raw
ages that the crops along the Atlantic
coast states were almost complete
failure. In certain sections it was rec
commended that the legislature estab-
lish public granaries for the storage of
wheat
Affairs in New York were brought to
crisis by the leaders of the Anti-mo-
nOpoly, Equal Rights or LocOfoco par
! ty, who plastered the walls and fences
of the city with handbill calling a
meeting of the people to be held in the
City park.
On the appointed afternoon some
| 5000 persons, mostly foreigners, gath
cred 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 recorder. He closed
his harangue by Offering a set of reso-
| lutiOns to be presented to the legisla
! ture and praying for a law prohibiting
the circulation Of bank notes under
| 500. They were adopted, and Ming
was carried off On the shoulders of his
| admirers.
Another speaker meanwhile was ad-
dressing another group of listeners
and, carried away by the denunciation
of the holders of -four. exclaimed: Eel
low citizens. Mr.. Hart has now $4,000
barrels of -four in his store Let us go
and offer him s. barrel. and if he
does not take it''-here somebody
touched him on the shoulder-"we shall
depart from him in peace"
The hint was enough, and his hearers
set on in a body for the warehouse of
Eli Hart & Co., in Washington street.
The clerks. on the approach 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 at
tackled with slaves and stones and driv-
en- from the scene. Barrels of flour and
sacks of wheat meantime had been
thrown from the window by scores,
and the flour eagerly gathered 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, Meechl" was raised, and
q party went off toward the East riv-
er to attack the warehouse Of Mech 4
Co., but stopped on the way and sack
ed the warehouse of Herrick & Co..
and destroyed thirty barrels.
In a card published in the newspa-
pers Hart & Co. remarked that the i'm
preston prevailed that they were mo-
nopolizing -four. The truth was, all
flour in the city was the property of
the millers and was held under the
control of the owners. 1t was needless
to say that the destruction of an arti-
Gle could not tend to reduce the price.
Nor did it, for flour at once went up
80 cents barrel.
At a second meeting in the park
few weeks later the crowd came bear
ing flags inscribed "No rag money
give us gold or silver" "Down with
chartered monopolies," 1--WE go for prin-
ciple; no monOpolies," 1--WE will enjoy
our liberties or die in the last ditch"
A carpenters bench was used for a
platform, and mounted on this Ming
urged his hearers not to use rag money.
which was the foundation of artistOc-
racy and monopoly. Another speaker
advised the crowd to go west in body
buy land at $1.25 an acre. found new
state and let the aristOcrats build their
own houses. This time the artillery
paraded, and no disorder occurred.
The panic of 1887 passed into history
as probably the most severe monetary
crisis the country has ever experienced.
Banks all over the country failed, and
most of the notes in circulation became
valueless. Many large business firms
also failed, and mills and factories shut
down because their products could not
be sold. Rich men became poor, and
poor people because there was no work
to be had suffered for lack of food. In
no place was the panic more keenly felt
than in New York, where all the banks
suspended May 10. 1SS7.-Philadelphia
Press.