| Tariff | | 1899 18,485,690 73,093,870 | disturbance | | 1900 18,699,194 67,760,886 | to | | 1901 18,650,979 69,459,296 | higher | | 1902 17,759,203 65,661,974 1903 | rates. | | 1903 19,716,203 73,756,404 | | | 1904 16,699,432 68,894,836 + The | | 1905 8,826,335 40,176,136 | propaganda | | 1906 13,919,048 59,106,869 1907 | for | | 1907 15,584,667 62,175,397 | keener | | 1908 13,937,247 64,170,508 | regulation | | 1909 10,521,161 51,157,366 | of | | 1910 9,040,987 47,621,467 | business. | | 1911 10,129,435 49,386,946 '- | | 1912 11,006,487 50,999,797 | | 1913 ,- Tariff reductions to | | 1913 11,394,805 53,171,537 | produce a revenue; | | 1914 12,768,073 62,391,503 | not on a protective | | + basis. The further | | | regulating of | | | business. | | '- The "World War." | | ------------------------------+---------+--------------------------------] The retarding or precipitating influence of a good or bad condition of agriculture upon the advent of a panic is also indicated. The symptoms of approaching panic, generally patent to every one, are wonderful prosperity as indicated by very numerous enterprises and schemes of all sorts, by a rise in the price of all commodities, of land, of houses, etc., etc., by an active request for workmen, a rise in salaries, a lowering of interest, by the gullibility of the public, by a general taste for speculating in order to grow rich at once, by a growing luxury leading to excessive expenditures, a very large amount of discounts and loans and bank notes [Footnote: Our recent banking history has proved rather an exception to this law as far as bank notes are concerned, because of the obviously unusual cause of sudden and enormous calling in of government bonds, the basis of bank-note issue.] and a very small reserve in specie and legal-tender notes and poor and decreasing deposits. On the other hand, the lowest point of depression following a panic is accompanied by the converse of the symptoms just enumerated.