Democratic Sentinel, Volume 15, Number 40, Rensselaer, Jasper County, 23 October 1891 — Failures Since Jan. 1. 1891. [ARTICLE]

Failures Since Jan. 1. 1891.

The number of failures increased 17 per cent.; liabilities Increased nearly 50 per cent, over same period last year. The McKinley tariff has been geting in its work since January last Says Bradst.reet’s: “The total number of mercantile failures in the United States for nine months of 1891 (South Dakota excluded, owing to a law there practically prohibiting the collection of the information) was 8,866 as compared with 7,538 in a like portion of 1890, a gain of 1,328, or 17 per cent. The 1891 total is the heaviest on record. ” The amount of liabilities was $92,541,950 in 1890, and $138,811,510 in 1891, or an increase of over 49 per cent It must be remembered that the greater part of these failures have all occurred since the immense harvests here and poor harvests abroad were practically assured. Nothing but this good fortune has been able to prevent a panic and depression far more intense than any which have ever occurred in our history. What, in view of this heavy Increase in failures, becomes of the wild and sweeping statements so often asserted in the speeches now being made in the State campaigns and in the high tariff organs that the McKinley tariff has brought the United States another period of great prosperity?