Effects of Bad Times.

My hotel-keeper, a bright sociable man, was induced to give me his own opinions on the depression. He acknowledged that his own hotel was doing fairly well, but the other hotels were mostly empty. Tradesmen he knew were bitterly lamenting the want of custom, buildings in course of erection were stopped because the owners did not think themselves justified in proceeding with the structures, rents were hard to collect from tenants, the upper storeys were already empty, reductions had been made on the lower floors, and still there were no permanent tenants; goods stored in bonded warehouses had to be auctioned, as the proprietors had not the means to take them away, etc., etc.

One Man’s View—

Encountering a gentleman whom I knew in Sydney, Australia, and who is now on the Stock Exchange here, I inquired of him what he thought of the condition of things. He said: “Mostly everything is at a standstill, I think. To-day stocks and real estate are a trifle firmer, but I cannot conceive any reason for it. There is nothing within my knowledge to justify confidence. Old Kruger is relentless and implacable. He will never yield, whatever people may say. And unless the reforms are granted, so that the mines can be worked at a profit, Johannesburg must decline, and things will become as bad for the State as for ourselves. The old man positively hates us, and would be glad to see the town abandoned. On the strength of the Industrial Commission report, many of us bought largely, but when we found that there was a majority against us, we sold out in such a haste that for a while it looked like a panic. The majority in the Raad had been bought out by the Dynamite Company, and, of course, we were helpless. You people at home have no idea of the corruption of our Government. Kruger appears not to know that when he calls the Dynamite Company a corner-stone of the State, he is giving himself away. We know that the Company and its twin brother, the Netherlands Railway Company, support the twenty-four members of the Raad, and as they, with Kruger, are the State, those companies may well be called corner-stones.”