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Why These Hard Times?

Why These Hard Times? image
Parent Issue
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OCR Text

The following good and sufllcieut reasonsfor the country'! business depressions are given by the Chicago Journal1. üood crops in Englaud and western turope, with tlie growing and cheap wheat iupply from India, have reduced the tnglisli demand for American grain. Witii no export demand the price of wheat has fallen to a pobtt at which it cannotbe profitably produced. 2. The absurd discrimination of Germany and Franca against American meat has had a simdar effect on the price of provisions. The cattlc, hog and sheep industries, and the production of grain for fattening beef, pork and mutton have all sunered in consequence. 3. The low priees of American staple agricultaral produce has paralyzed the shippingindustiy, and made railroad construction unprofltabie. Many laboring men and artisans have lost tlieir occupations as the result of this condition of a ff airs. 4. The low price of agricultural products lias gi-eatl y diminished the capacity of the agricultural populatiou as purchasers of goods and meichandise. Dull trade nnd discoura-iement in manufactures havo proceedeit from this canse. 5. Strikes and lockouts have weakened enterprise and acted as a restraint and liinderance on all plans for the investment of capital. A man wlio haa determined to erect a factory that would givc employment to ÖOO or 1,000 men, will abandon hisdetermination on learning thatassoon as he gets under way liis employés will strike for shorter hours or higlier wages. 5. All these causes have creatod financ'al congestión at the moneyed centers and a scarcity of money amonr the people in the country at large. Never before was there as mucli money in the country as there is at the present .time. Kut it does not circuíate. The country is like a robustperson, full of blood which fails.however, to move healtliily in its accustomed channels tlirough all parts of its arterial system. There are many people who know enough to stir up contentions that dou't know enough to keep out of tliem.'


Ann Arbor Courier
Old News