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IS IT TRUE? Within our own borders a general condition of prosperity prevails.-Harrison's Message, 1891. This is the text from which every Republican journal in the land has been preaching, and every person who, from a just conception of the deplorable condition of the country has dared to question the statement has been designated as a "calamity howler." Still the wreck of homes and of fortunes goes on, and while noting the daily failures in business and the foreclosures of mortgages upon the homes of the people, those blind leaders of the blind are perfectly oblivious of the causes which are constantly producing these effects. On Monday the 18th inst., the news flashed over the wires of the failure of the American National bank at Kansas City. The same day one of the largest tradesmen in this city failed. On the 20th we find in the morning Capital the following specials: STATE BANKS ASSIGN. Special to the Capital. DOWNS, Kan., January 20.-As a result of the failure of the American National bank at Kansas City yesterday, the State bank of this place suspended operations to-day, making an assignment for its creditors, the principal one being the American National. Special to the Capital. CAWKER CITY, Kan., January 20.-The State bank of this place assigned to-day. The failure was precipitated by the crash of the American National at Kansas City. Special to the Capital. GLEN ELDER, Kansas, January 20.-The bank of this place closed Its doors to-day. It was founded by Parker & Churchill of the Kansas City National. JAMES G. OGDEN CLOSED OUT. Special to the Capital. FORT SCOTT, Kan., January20.-Th First National bank this morning took possession of the furniturestoel and of Jas. G. Ogden under chattel mortgage. The liabilities are about as follows: To First National bank, $5,000; to Ell Kearns, $2,000; to outside creditors, $6,000. The home creditors are all fully secured by chattel mort. gages and good endorsements, and the others are secured by second mortgages. The liabilities are about $13,000 and the estimated assets are in the neighborhood of $15,000 including stock and accounts. The cause of Mr. Ogden's embarassment is the maturity of paper due creditors and the failure to realize on collections coupled with the fact that sales have been very light. This is but the beginning. One failure always results in others, and the number depends upon the magnitude of the first. These failures operate in two ways upon the business of the country. They result in serious if not overwhelming direct losses to other houses, and at the same time necessitate so much greater caution in ordinary business accommodations 88 to seriously embarass every man engaged in any kind of business. We have here a country of unbounded resources. possessing within itself all the natural elements of unlimited prosperity, yet we have an annual record of from 10,000 to 13,000 business failures, involving from two hundred to three hundred millions of dollars, while the farms and the homes of city and hamlet are passing into the hands of money loaners to any alarming rate. While the aggregate wealth of the country has rapidly increased we are confronted with the fact that two-
