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On July 18, the individual deposits in t...

On July 18, the individual deposits in t... image
Parent Issue
Day
11
Month
September
Year
1894
Copyright
Public Domain
OCR Text

On July 18, the individual deposits in the 3,767 National banks of the United States were $1,678,000,000. The electioa in Arkansas last week did not contain a crumb of comfort for the republicans. The state is democratie with the usual majority. Secretary Carlisle holds that all wool in the bonded warehouses is entitled to come in free. Thee is more than 63,000,000 itjs in the warehouses of the different ports, valned at more than seven and one half millions of dollars. Under the provisions of the income tax all persons having an income of more than $3,500 a year will be required to make a return to the collector. The full text of this law will be given in the next issue of the Argus. Preserve it for future reference. The sugar planters of Louisiana, to the number of 300, held a meeting recently and resolved to hereafter support the republican ticket in congressional elections. This action shows that the "communism of pelf is dearer to them than any belief in party principies. In other words, they are not democrats but republicans, and have now gone to join their fellow plunderers. Let thanks be returned for this exodus. According to the safest estimates the revenue duty on sugar will cost the people about $40,000,000, and the trust will get at least $8, 000,000 less than it did under the McKinley act. But the reductions in the woolen schedule will save the people L160,000,000, or four times as much as will be taken from them by the sugar tax. Before this issue of the Argus reaches the majority of its readers, the democratie standard bearer for the second cogressional district will have been named by the representatives of the party sitting in convention at Adrián. It goes without saying that whom he may be, he will be a clean and able man, a man in whom democrats may have all confidence, a man who will poll every democratie vote in the district and be elected. The democracy of Wisconsin have renominated Governor Peck for a third term. That which was chiefly responsible for the renomination of the Governor, and most of the other officials of the present administration was the brilliant financial and reform records which they have made. During the four years of democratie rule there has been a reduction in school taxation of $450,000, and yet the trust funds have been so skillfully handled as to actually increase the school funds $1,200,000. When the democrats came into power four years ago, it had been the custom of the republican state treasurers to pocket the interest on state funds deposited in banks. Prosecutions were coramenced against these ex-officials, and judgments secured for over $600,000, and of this amount more than $480,000 has been recovered and turned back into the treasury. The republicans have nothing to ofset against this fine record. The McKinley bilí went into effect in October, 1890, and before the elections of the following November there had been a very general use in the price of nearly all merchandise of from 20 to 80 percent. Even before the bill became law merchants sent out circular letters advising consumers to make their purchases before the new schedules went into effect, as there would be a heavy advance in prices. To this advance in prices bII along the line was due the disastrous defeat of the republicans in the elections of 1890. Two years' more experience with the measure only intensified the opposition of the people and in 1892 the republicans were overthrown in every department of the government. How different the effect on prices of the Wilson tariff. Already merchants are sending out circular letters calling attention to the lower prices at which they are able to offer their goods. The reductions made by the new tariff are general but are most noticeable along the line of necessaries. Prices wfll go still lower in the few months to come. There is cold comfort in this fact for those republicans who expect to carry the elections this fall on a howl against the new law.

Article

Subjects
Ann Arbor Argus
Old News