THE OUTLOOK. 61 



banks, the Union and Commercial, went to the wall, 

 the exposure was simply amazing. The former had 

 overdrafts aggregating more than two millions, half of 

 it standing against accounts of directors; the latter 

 had overdrawn accounts of the same amount, half to 

 directors, one of whom had $657,000. The combined 

 capital of the two banks was but $800,000. What 

 wonder that the ensuing crash left conditions such as 

 described in our quotation above? Verily, the honest 

 native Newfoundlander, who creates the wealth of the 

 country, has "fallen among thieves!" 



THE OUTLOOK. 



What will be the outcome? No man knows. The 

 animus of those who have the ear of the English 

 capitalists, and through them of the home govern- 

 ment, is Avell shown in the following from the St. 

 John's correspondence of tne New York World: 



"The widespread ruin arid mystery that resulted 

 need not be dwelt upon. Suffice it to say that it 

 crippled the country and beggared its people. The 

 people are now getting themselves together again, the 

 merchants are, to all intents and purposes, swept 

 away, and knowing that they must depend upon 

 themselves in future, the fishermen are preparing 

 to prosecute their industry with the best resources 



