People's Pilot, Volume 5, Number 30, Rensselaer, Jasper County, 30 January 1896 — Perplexity. [ARTICLE]

Perplexity.

New York, Jan. 17.—R. G. Dun & Co.’s weekly review of trade, which issues tomorrow, will say: “The situation could hardly be more perplexing for business men. Practical merchants, manufacturers or bankers can have very little sympathy for those who minimize their difficulties. None doubt that the government will raise money to meet obligations, but how far the money market will be disturbed or the treasury reserve first diminished no one can say. The business world cannot know as yet how far foreign questions may upset calculations, though there seems'fevery reason to expect a peaceful settlement. It cannot know what may be the duties on any important class of imports a month hence, whether imports are likely to exceed exports and draw away gold, whether the deficit of revenue will continue, or what other taxes will be levied. Failure of the senate thus far to take any action upon financial measures proposed by the president or those passed upon by the house affects unfavorably all branches of business. Under such adverse circumstances it is actually encouraging that shrinkage in transactions and resulting commercial disasters have not been greater. But four large failures within a day or two indicate that the same condition cannot continue without much embarrassment.”

For some reason there is a decided bearish tone in the commercial reports for some weeks past. Some say this is the work of speculators who are simply trying to scare congress into passing the bond and tariff bills to their liking, but we do not believe this to be the case. There can be no doubt that commercial interests are now being shaken to the very bottom, and that business men are beginning to think upon the critical conditions as they have never been accustomed to do in any past times. They are themselves largely to blame for the perplexity of mind and uncertainty of judgment in that they have suffered themselves to stupidly follow the false theories and statements which have been dished out weekly by such luminous lights as Dun and Bradstreet, and the idiotic echoes of a venal and subsidized press throughout the country. Had these financial and commercial authorities no ability to discern the signs of the times? Could they noMruthfully forecast events, or have prophet and priest alike been blind leaders of the blind? It would not be as difficult as it would be unavailing to go back through the files of the-past year, and for that matter for many years, and quote the continual promise of “prosperity” just at tne door, or over in the next town. Who has “minimized the difficulties of the practical merchants, manufacturers or bankers?” Who has cried peace when there was' no peace? Did not Cleveland tell congress that if the Sherman bill was unconditionally repealed that prosperity wouid be assured? Did the McKinley bill stop the sag in prices, or the Wilson bill stay the abomination of desolation? Has the demonetization of silver spread content and happiness among the masses? Has the elevation of gold strewn flowers in the highways of business?

“The mills of the gods grind slowly, but they grind exceeding fine.” The logic of disaster is forcing the merchant, the man ufacturer, and even the banker to conviction. Oh. that my people would consider, saith divine wisdom, and a better day is already assured when perplexity is admitted. The issue is now joined in the minds of men of business, and it can have but one result. &o long as these men could be carried toward the gold standard with a hurrah reason could h&ve no place with them. But in this as in some other things, “To doubt is to be darned, to hesitate is to be lost.” The serried hosts of business men have come to a forced halt, and" “perplexity” is but another name for retreat from the gold standard and reorganization on old lines. Now is the time for business men to choose whom they will serve. This whole crusade against silver has been a secret, dark, deceitful conspiracy to subjugate the people, and dominate the whole world by the power of gold to oppress it. It was conceived in sin, born in iniquity, nourished in fraud, and has now come to judgment before the bar of a universally outraged and ruined people. It is in vain for this report to arraign the senate for failure to

take action. For twenty-three years congress has taken action as the plutocrats have dictated. Why then, has 'not prosperity come, and come to stay? They can not longer deceive the people with this kind of talk. They have built cob houses, and they are tumbling. Being now convinced. business men will soon turn their feet to walk in the beaten paths of the fathers.— Sound Money.