FAEMEfiS ABE GLAD.
WHEATBOOMSTHEWEST
PRICES FOR THEIR PRODUCTS
THE BEST IN YEARS.
Governors and Mayors Agree that
Prosperity Has Set Its Seal
on the Land.
(From the New York Journal of Aug. 20, 1897; leading free silver organ In 1806.)
large number of representative merchants of the West have recently vis
ited New York and have expressed decidedly hopeful views of the business
outlook. In view of the fact that these opinions have had a beneficial effect by
their te'ndency to strengthen confidence and promote better times, the follow
ing telegram was sent to Western Governors and Mayors:
Will you kindly telegraph to the Journal jour opinion of the prospects for a
business revival in your city or State, giving what you consider the best reasons to
anticipate a prosperous state of trade for the coming autumn. -
W. R. HEARST,
EDITOR N. Y. JOURNAL.
It this generally addressed request
among them being'the following:
GOVERNORS.
J am" a A. Montit, Indiana.
The business revival In Indianapolis and
throughout Indiana Is unmistakably gratify
ing. In this city the Improvement has been
most marked during the last fortnight, and
It bears convincing evidence of being sul
stantial and permanent. It is noticeable in
every avenue of trade, and is so pronounced
that it is admitted even by whilom prophets
of evil. Indianapolis is admittedly
.... t, i ...... in Hio ITiiited
States, and one of the most striking evl- (
deuces of the dawning of a new era r In-
dnstrlal and commercial prosperity is loiniu
In the fact that the number of loaded cars
at this time is almost unprecedented, the
offerings to the transportation companies
being sufficient to overtax their equipment
and facilities.
I). M. Clnnh, Mln-esota.
The business outlook for Minnesota and
-the Northwest is, to my mind, very hopeful.
'The farmers have fair crops, and will re
ceive good prices therefor. This assures the
merchants and the manufacturers a good
cash trade this autumn and winter. The
railroads will, in carrying the crops to mar
ket, be able to earn and pay their old-t:nie
dividends. Already labor realizes the ben
efit In greater demand for employment.
There are at present but few Idle men in
Minnesota who desire work. Advancing
prices and better markets, which result from
the farmers' Improved condition, promise a
still greater demand for labor and an early
advance iu wages.
Robert P. Fmith, Montana.
Our people are strong In the belief that
more prosperous' times will prevail in this
State. Our farmers and stockmen are re
ceiving good prices on account of failures
In India, Argentine Republic and Australia,
and our capitalists are beginning to realize
that legitimate mining is as safe as any
other enterprise and produces larger profits
to tie Investor.
F. ST. I'mke, Iowa.
From all over the State come tidings of
Increased business activity. The rise in the
;prlee of grain has niateilally helped in de
veloping this activity, making money more
!p!entiful. Merchants are getting in larger
stocks of goods than for some years past.
Hank deposits and clearances are steadily
Increasing, and there Is a general air -of
coiftidenue iu the" business outlook.
C M. Barnes, Oklahoma.
Oklahoma has harvested the most bounti
ful crop of wheat ever produced on a like
number of acres. We have a large crop of
corn now made. Prospects are excellent for
a good cotton crop; our peaches and grapes
are not excelled In the quantity or quality
anywhere on earth. Indeed, all the products
of field and farm have been and are being
gathered in great abundance. Oklahoma will
market $40,000,000 worth of these things the
present season, which, at the present in
creased prices, will bring" prosperity to the
farmers of the Territory and through them
to all lines of business and trade.
E. W. Pcofield, Wisconsin.
Excellent crops, the fact that the Indus
tries of the country have long been at ebb
tide nd stocks exceedinaly low. and general
hopefulness are the reasons for anticipating
a prosperous state of trade for the coming
autumn.
' P. Pennoyer, Portland.
The large crop of wheat In Oregon, and Its
enhanced value, owing to a shortage of crops
elsewhere, will be of ereat advantage to us.
If we could be assured that these two condi
tions would be permanent it would restore
confidence.
W. A. R?chrd, Wyomln,
Times are already better In Wyoming.
Debts, notes and niortgaces of lone stand
ing are being paid. Our banks have plenty
of money received from this source. There
Is" an increased demand, and higher prices
ror cattle ana sueep canseu uy tne auty on
hides and Mexican cattle and on wool, which
Is also going up In price.
B. J. Frankl'n, Ar'zma.
The business outlook of this section Is
quite promising. Phoenix is enjoying a sub
stantial growth; new business houses are be
ing opened, and substantial buildings are
being erected In all parts of the city. The
three leading industries of Arizona are min
ing, agriculture and cattle raising, and all
are flourishing. The mines this year will
yield more than any previous year. Cattle
rule higher than for years.
Governor I ee'ljr, Kansas,
Considering the State as a whole, Kansas
bas excellent crops this year. The failure
of the grain supply In other parts of the
world has. naturally resulted In a great de
mand for Western grain and better prices
therefor. My judgment is that this will im
prove our fall trade without doubt.
Pilns A. Holcomb. Nebraska.
Nebraska produced in 189G nearly 300.000.
KX bushels of corn, quite a percentage of
Trhich yet remains in the State. The corn
crop this year will equal or excel that of
last. Her crop of wheat this year is enor
mous, reaching from forty to fifty million
bushels, which, because of foreign active de
mand, is being disposed of by farmers at
much more satisfactory prices than have
been received of late. Live stock Interests
have assumed large proportions, and are
constantly growing even with the prevailing
low prices. These and many other branches
of industry add materially to business activ
ity. Nebraskans have been buying but little
during the period of business depression,
using their means to meet pressing obliga
tions. They are now beginning to pay.
J. R. Foyers. Wasblnirton.
Abnormally large yields of wheat and bar
ley, with fair prices for them. In the grain
bait of eastern Washington, a good crop of
hops at moderate pricey in western Wash
ington, an abundance or fruit at a fraction
above the cost of production in all portions
of the State, supplemented by gold mining
developments along the northern boundary
and the stimulus of the Klondike discoveries
In Alaska, have united to give the people of
Washington a cheerful prospect.
William P. .Lord, Oreaon.
Present prospects of a business revival are
excellent. Already a marked improvement
In business Is anticipated. We have large
crops with good prices, with iudicatious of
a steady advance. Our wheat and oat crops
are large. Hop crops are above the average,
and prices are much better than last year.
The wool clip was good anjl cattle and other
lock are selling for good prices.
many answers - have 'been received,
t
MAYORS. ; " '"
J. D. Phelan, Pan Francl'CO. ": '
There Is every prospect of business revival
In San Francisco. First, the crops have been
large and satisfactory; the prices of fruit
and grain have materially advanced, which
not only bas brought increased revenue to
the producers of the State, but has Inspired
them with confidence and courage. The
local merchants are already feeling the ben
efits of this creation of wealth by the men
of the soil. The stimulation given to mining
by organized and individual prospecting.
wincn nas ueen very successrui, is especially
noteworthy, and it is closelv estimated that
our mines will yield at least $20,000,000 of
the precious metals this year, as against
$15,000,000 last year.
Uf. Ptrw, Grand Rapids.
The settled wise Dollcy of our Govern
ment, together with confidence among man
ufacturers and business men generally, as
sures better prospects. Local causes are
crops above the average In our State, with
advanced prices for the same. Furniture
lactones are running on full time, and a
large and increased number of municipal
Improvements give a sure basis for an In
crease of trade.
Henry Trnelsen. Dn'utht Minn.
The outlook for fall trade at the head of
the lakes Is very promising. Prospects of a
splendid yield of wheat in Minnesota and
the Dakotas, which will command good
prices on account of short crops elsewhere,
will bring money In abundance to the North
west. The lumber market Is in splendid con
dition, with demand good at advanced prices,
guaranteeing heavy operations in lumbering
next winter. Labor at the present time Is
In good demand at fair wages. Shipments
of iron ore are heavy. All this goes to
prove that prosperity will again smile on
the head of the lakes.
Asm S. Rnshnell, Ohio.
The confidence of the people following the
settlement of the tariff question, and the
bounteous crops which command good prices
will cause a satisfactory restoration of pros
perous business conditions. Every evidence
of the present gives promise of a bright fu
ture for Ohio.
P. M. Jones, Toleflo, O.
The people seem to have taken heart, now
that Congress has adjourned, and they have
nothing to fear from the law-makers, as our
State Legislature is not in session. The
abundant harvest and good price for grain
are causing a distribution of $100,000 a day
from Toledo. The farmers, in turn, are buy
ing implements, and this, of course, starts
the Industries. Yes, prosperity Is here.
Frfinlc B. Pona, St. Paul.
From a jobbers and manufacturers' stand
point, there is much of encouragement.
Business is good and Improving. Our city
trade is cautions, as almost ' everybody
is exhausted from unwise investments In
real estate during boom times. The Im
provement, no doubt, comes from higher
prices for farm products, from a natural re
covery from a collapse, and from a strong
belief that the tariff. question seems to be
settled for four years at least.
C. Fellows, Tnpeve, Kan. .
Wonderful revival In business and confl
uence In Topeka. The railroad shops and
all factories are running to their full ca
pacity. More buildings have been erected
during the past six months than in the pre
ceding four years.' Money is plentiful, the
Interest ratesreduced and property changing
hands at increased prices. Practically, no
idle laboring men are in the city-
Frank K. TVoores, Omaha, Neb.
Among the Indisputable evidences of re
turning prosperity and confidence In the
business future of Omaha I might mention
the million dollar packing plant now in proc
ess of erection here by Armour, the $400,000
union depot now building, the magnificent
buildings lor tne l rans-iiississippl and In
ternational Exposition In 1808. now in con
struction, and the numerous other public
improvements which are being made in the
city.
John Mac Vicar, Pes Moines Ta.
A good crop of wheat and good Drices as
snred by foreign demand give the railroads
good business and assure a good balance of
trade in our favor. Iowa has a large amount
of corn in cribs and a good prospect for the
coming crop, and the situation of wheat has
helped the price of corn considerably. Iowa
has fed, in the last eight months, and is now
feeding, a large number of cattle. This has
made the feeders considerable money.
Rrbert Pratt, Minneapol'n.
The settlement of the tariff Question, the
Increased prices for our abundant crops, the
more general employment of labor at better
wages, the appreciation of values all along
the line, serve to create among our people
the conviction that prosperity has reached
us. These conditions, witn tne return of con-
dence and a better present trade, would
seem to assure us a prosperous business for
autumn.
Tames M. Jones. Kansas City, Mo.
The tidal wave of prosperity and renewed
business connoence wnicn is sweeping over
this great agricultural section of the Middle
West, has swept too far to make It neces
sary to talk of good prospects. Business
prosperity is a real thing right here In our
mlost. ana xne impulse uus nireaay Deen
felt by every line of business from producer
to manufacturer.
M. P. Pnyder. Lo Anceles, CaL
I have not as yet observed a material im
provement in mercantile lines in this city
over a year ago. Throughout Southern Cali
fornia, however, better conditions prevail.
The rains last winter and spring were very
heavy, and there have been bountiful crops
of .hay, barley and wheat. . The pasturage
has been and is good. All farmers expect
to realize good prices for their products this
fail. During the last seven of eight months
there has been an unprecedented amount of
mineral prospecting in Southern California.
J. E. Crichtna, Seattle, Wash.
I expect a revival of business from the fol
lowing causes: Our wheat crop is the largest
ever harvested In this State, and prices are
very satisfactory: large mills are being
erected to grind flour for China and Japan,
and while the steamship service Is first-class,
yet many more boats will have to be added
to accommodate this immense flour and mer
cantile trade with the Orient. The Eastern
demand for our cedar shingles Is something
enormous, and good prices are being paid.
PENSION BUREAU. '
PENSION Office. is located in the northern end of Judiciary Square, near G street X. W. Built of pressed brick in the
Renaissance style of architecture and is 400' feet in length, 200 in width, with walls 75 feet high. The great hall or
court occupying the center is 316 feet long, 115 feet wide and covered with a lofty roof of glass and iron surmounted
with a dome. Two galleries, one above the other, extend along the sides of this court, supported by Ionic and Doric col
umns. kThis hall is used for inauguration balls and will accommodate 1,800 people, allowing room for dancing and prome
nading. When filled to its utmost capacity it will hold 5,800.
INDIVIDUAL TESTIMONY.
Brief Ficned statement on tne
Re-
turn of Prosperous Times.
The following signed statements from
various parts of the country show con
clusively that Republican prosperityr.is a
reality: fir" i
Lincoln. Neb. Nearly all lines of business
In Lincoln show an Improvement over the
corresponding months in 1806. .NeDrassa
state Journal.
Peshtieo. Wis. There Is an Increasedac-
tivlfi, In th. Inmhll, hllfiineSS. both In fiTSt
and second hands, and the outlook for busi
ness improvement is very good. xnonias
Barrett, uaitor rimes.
Plannemine. La. The Improvement In busi-
nMa finnflitinne la Wr, ma rked. Suear-plant-
ers are making the most extensive and costly
improvements of the century, and there Is
every evidence of enormous crops of cotton.
rice and sugar. a. L. tsucKier, .uiiur
nal."
Alhanv. Mn This Is an asrlcnltural com
munity, and there is little to report in regard
to manufactures. The conditions amoug the
farmers, however, are very satisfactory; de
mand for cattle and hogs and at good
prices; crops large and prices better than a
year ago. James H. Orr, Editor "Advance."
Huntsvllle, Ark. This is strictly a farming
community. Cattle are 25 per cent, better j
. . , r I . ......
prices than last vear. sheep a little better,
wool about 75 ner cent, better. One farmer
told me that he sold his wool last year at 8
cents per pound; this year the same class of
Balinger, Pub. Republican.
Kenton. W. Va. There is a slow but clear
ly perceptible business improvement here.
The Riverside Iron Workstof Wheeling are at
work upon a large addition to their plant.- A
new plate mill has been completed and will
in fow rtnvs. One of the old ones
Is being rebui.t and enlarged. Charles L. Ev
ans, Editor "Enterprise.
PrAMutnsii. 111. There are no manufac
tories here upon which to report, but dealers
In general merchandise report a decided In
crease In activity as compared with six
months ago. Farmers are buying more ma
chinery, and traveling men tell me that all
along this line their sales are picking up
vastly E. G. Mathis, Editor "Spike. '
Elkpolnt, S. D. Conditions among agricul
turists and residents of this place are clearly
Improving. Two new creameries nave just
been organized and others are to follow, A
number or nne new iarm-uouaes nuu
v,oon urontni In this vlcinltv the present
.,,. onH in tii i a nifice the evidences of in
creased business activity are clearly visible.
Charles R. Bruce, Editor "Courier.
Austin, Minn. Indications of better times
are shown by the employes of the Milwaukee
Railway Company being put on full time In
the machine-shops and round-house. Farmers
are prospering In this agricultural commuul-,
ty and the number of new vehicles coming
to town and the general appearance of cheer
fulness show prosperity again prevalent
among them. H. O. Basford, Editor "Regis
ter." Muncie, Ind. The glass, iron and steel fac
tories have been running almost continuously
since January, 1897, with Increased time and
wages. More money has been paid out for
labor in the past six months than at any like
period in this city. There Is a much better
feeling among workingmen of all classes. The
number of laborers on the pay-rolls of this
city Is greater than at any previous time.
John T. Wlldman, Editor "Times." .
Lacon, 111. The Lacon Woolen Mill, em
ploying 200 hands, is running night and day
and cannot fill its orders. The Zinc Works
at Wenona, closed down for four years, will
resume operations at once, employing from
50 to 60 hands. Farmers are beginning to
plant other than corn and I believe this will
help things out throughout this county. Ev
erything in the county has an upward ten
dency. W. B. Powell, Editor "Journal."
Millersburg, Pa. There has been a general
and clearly visible improvement in the busi
ness condition, both manufacturing and agri
cultural. This Is clearly evidenced both by
general Inquiry among business men and es
pecially through Inquiries among bunkers.
This paper recently published a statement
showing amount of money at interest In this
county for 1895, 1896 and 1897, the total for
1897 being materially less than in ,1896. Ed
itor "Posf" . .- ''-'
Pittsburg, Kan. There Is a marked In
crease in the number of men employed here.
The smelting works, which had been Idle pri
or to last election, startea up snortiy arter
the election of McKinley. and gave, employ
ment to about 300 men. New men are con
stantly being added to the force In the Kan
sas City, Pittsburg and Gulf Railway shops.
There has been an extension of about -six
miles on the street railway here since the
election, and a new electric-lighting system
Is being put in. J. T. Moors. Editor "Head
light." Nelllsvllle, Wis. Evidences of restored con
fidence and reawakened business activity are
visible on every hand. More money is being
spent this year in this city on building opera
tions than was spent during the four years of
Cleveland's administration. Large areas of
new lands are being cleared by farmers
throughout this county. Every shoo and fac
tory in this city save one Is running on full
time; banks report increased deposits and
collections, and discounts indicate a much
improved condition. L. B. Ring, Editor
"Times." . '
Burlington, Iowa. The Chicago, Burling
ton & Quincy shops have increased the
amount of work, added an extension and In
creased the number of employes. There is a
good deal of work being done in extending
gas mains, electric-light lines, electric rail
ways, and In street improvements and much
building improvement in business blocks and
houses. In consequence, the number of la
borers and mechanics employed is much larg
er than for several preceding years. The re
ports from our merchants and traveling men
throughout the West are favorable. J. L.
Watt. Editor "Hawkeye.". . -
Columbus Grove, Ohio. An improvement
in business conditions in this community Is
very clearly visible. The J. F. Jones' Sons
Handle Factory has Increased Its force 25
per cent In the last two weeks. The man
ager iufotmed me that he had more orders
than at any time In their history. The J. H.
Belford Sons' Handle Co. bas also largely ln-
creased its force. The Buckeye Stave Com
pany has a larger number of orders than at
any time since its organization and Is putting
new men at work dally. Talks with business
men convince me that prosperity has arrived.
The farmers have fine wheat, oat, and hay
crops and the corn prospects are bright.
Prices are good and free-silver calamity
howlers will have hard lines in Ohio this fall.
Ed L. Vail, Editor "Vidette."
Passaic, N. J. There has been a marked
improvement In the factory district of th's
city. All the mills are now making full time
and many run nntll 9 p..m. The Manhattan
Print Works (satinet printers), after three
years of idleness, is In full operation. The
Dundee Woolen Company, which did little or
no work during Cleveland's Administration,
Is now employing its full complement of
bands. The Botanv Worsted Mills were slack
during 1895 and 1896, but are now enlarging
their plant. The number of operators doing
steady work at this point Is now, I think. 30
per cent more than one year ago. D. W. Ma
bony, Editor "News."
Sterling, 111. The Keystone Mfg. Co., man
ufacturers of agricultural implements, which
usually runs very light at this time of the
year, has been compelled to increase Its force
instead of reducing It. It expects to employ a
larger number of men this fall than at any
time In the past three years. Other agricul
tural implement factories report a good busi
ness. The Lawrence Bros. Mfg. concern is
making a large addition to its building to be
occupied by an additional manufacturing es-
rnuiisnment. Tne codd & urew Kivet ana
Nail Factory have a large increase in orders.
T K .... . . .. i 1 ,l. 1. .. : 1 .1 1 .. .
There is an unusual activity in the building
of residences in town. W. D. John, Editor
'.'Gazette." --'5
. Brunswlckj Mo. The chief business enter J
li ir.t- ui iuih juace are suo-wuig a juarKeu im
provement. The Brunswick Tobacco Works
have Increased their force in the manufac
ture of chewing and smoking tobacco, the de
mand for this class of eoods havinir Increased
materially during the past few months. The
aagie louring Mills report also an Increased
business. Shipments of flour to surrounding
towns and cities are increasing every week,
indicating that the merchants are buying
more freely. Farmers . are selling
corn at an advanced price, and there is a
general feeling of satisfaction among the ag
ricultural element. H. F. Lincoln, Editor
"News."
Another Gold Plot.
Another horrible plot of the gold powers
of England has come to light. Their sta
tistician, 51. Gr. Mulhall, has invaded this
country, and has recently written a mag
azine article in which he shows that the
"Prairie States," which were the sole hope
of the silver trust in its efforts to capture
the Government last year, have been not
only the most prosperous part of the Unit
ed States, but far more prosperous than
any other spot on the world. Mr. Mul
hall's article, it is said, "reads like a tale
from the Arabian Nights." It shows in
the twelve States upon which the silver
managers relied last year Ohio, Illinois,
Indiana, Missouri, Michigan, Wisconsin,
Iowa, Minnesota, Kansas, Nebraska and
the Dakotas an increase in farm area av
eraging 1,300 acres per" day, a grain pro
duction twice as great as that of France,
Germany and Austria, collectively; a
meat production twice as great as that of
France, an . eight-fold increase of grain
production since 1850, and a general food
production equal to five times as much for
each person as in the most advanced sec
tions of Europe. It can scarcely be. ex
pected that people residing in a section so
much more prosperous than that of any
other part of the world are going to resort
to a depreciated currency with which to
pay debts, or attempt to deceive them
selves by increasing the number of their
dollars and at the same time making an
equal decrease in their value.
- Let the Farmer Think.
:The farmers of the country should give
their attention closely to a few contrasts.
The free traders made a great row over
the sugar bounty and the tin-plate duty.
Their contention was the sheer impossi
bility that we should produce our own
sugar and tin. Already, every farmer in
America knows that we shall soon pro
duce all the sugar we consume and save
a hundred millions a year for the tillers
of our soil, and that we are also deep in
the tin plate manufacturing business, and
that long before this presidential term is
out we shall produce in our shops all the
tin plate we want, and there are. from
twenty to twenty-five millions a year for
American workingmen to earn' and dis
tribute. Now, these are the things that
give a boom to prosperity. Contrast this
with the vulgar falsification that low sil
ver made wheat low, and all that rotten
ness of the Democratic imagination.
Mexico Is Yearning-for Bryan. .
This will be an interesting time for Mr.
Bryan to take his proposed trip to Mex
ico. A late dispatch from the City of
Mexico says:
"Exchange on New York rose to-day on
the fresh drop in silver to 131, and, in
some cases, 140 was asked. Bankers were
in doubt as to what rate to make, in view
of the condition of the silver market. Ex
change on London went to 21 pence,
the lowest on record, and implying for this
Government in meeting the interest on its
sterling debt a loss at the rate of two'
million dollars per annum. The Govern
ment can meet this loss by economies and
using the surplus fund, but bankers here
say the time has come when something
must be done. A very anxious sentiment
prevails, as the people have come to ex
pect a still further decline in the value of
silver, and many predict that it will be
forced to a point where the dollar will be
worth only 30 cents in gold. Importations
will be generally reduced and interests of
business affected generally. The Mexican
Government and the country are con
fronting a serious situation, the worst for
many years.
Civil Service Reform.
In issuing an order to the effect that
no removal from any position subject to
competitive examination within the classi
fied civil service shall be made except for
just cause and upon written charges filed
with the head of the department or other
appointing oflicer, of which charge the
accused must have full notice with an op
portunity to make defense, President Md
Kinley has corrected the very evil which
has heretofore tended to make hypocrit
ical the entire civil service system. The
previous absence or virtual neglect of
such a rule has so facilitated evasions of
the spirit o civil service reform as to
bring the whole thing into nlore or less
contempt. A strict enforcement of the-
new order will not only lift from the
shoulders of Federal officials in responsi
ble, positions a load of pressure nithertd
brought to. bear by clamorers for office.
thus giving them added time to devote
to their more important duties, but it will
also establish merit and merit alone as
the determining factor in the equation of
public Service, and insure that - public
money paid in the form of salaries to em
ployes in that service shall go to compen
sate actual and efficient work. The Amer
ican people are ready to subscribe most
heartily to genuine civil service reform.
Good Times on the Way.
The miserable business in which the
partisan organs of the free silver move
ment are engaged when they try to fill
the ears of the people with complaint and
discontent, and pick up only to magnify
every adverse trade symptom in order to
discourage the return of prosperity for
political purposes, is annoying, but it is
ineffectual. It causes decent men to be
indignant, but it is powerless to stay the
oncoming tide. Prosperity has set in, and
there are solid figures as well as hopes to
prove it. .
- Prices Go Up in Mexico.
Consul General Joseph G. Dudley, sta
tioned at Nuevo Laredo, in a communi
cation to the Department of State says
that as a result of the recent fall in the
price of silver -there has been a marked
rise in the ' price of all commodities in
Mexico. This is true of domestic pro
ducts. Kents are included in the rise
of prices. He says there has been "no
corresponding advance of wages or sal
aries. Labor, he states, stays on its silver
basis.'
Political Pointers.
The gold Democrats are making large
accessions to their ranks everywhere, and
expect to poll a much larger vote this
year than last.
The Populists of the country are thor
oughly disgusted with the treatment
which the Democracy have given them,
and are developing the greatest hostility
to further attempts at fusion.
The director of the United States mint,
who is the best authority in this country
on currency matters, predicts that silver
will fall much lower in the next few
months.: It is already at the lowest point
in. its entire history. .
The money in circulation in the United
States has increased about $130,000,000
in the past year, the price of foreign pro
ducts has advanced, and the business of
the country has greatly improved despite
the assertions that nothing but the free
coinage of silver would bring an increase
of money or prices to the people of this
country.
The people who attempted to make the
people believe a few months ago that Sec
retary Sherman had passed the period of
active usefulness are saying nothing more
on that subject. Secretary Sherman's
expressions of views on current political
topics are clear, crisp and vigorous, and
strike a responsive chord in the hearts of
every American citizen.
People who are assuming that the re
cent great gold developments are a mere
matter of good luck to those opposing the
16 to 1 theory are mistaken. It is more
than luck; it is the logic of events. The
fact that the world prefers gold to, the
bulky white metal as its medium of ex
change has stimulated the production of
gold everywhere until it seems likely to
supply the needs of the world for a money
metal. 1 , ;- ' - ' " - - ''
"The Government of Pert has ordered
its postage stamps made in the United
States. '
Large Transactions in Staples, with
Prices Favorable More wheat Ex
ported in One Week tban Any Sim
liar Period Since the Tear 1833..
Prosperity for Agriculturists.
, A recent Bradstreet's report says:
"Special telegrams from trade center
throughout the country emphasize the
growing prosperity of the farmer, due to
higher prices for almost all agricultural
produce still in his hands, and point to a
continuation of the demand, which has .
been conspicuous within the past few
weeks. The volume of trade continues to
increase, and prices are hardening. No
such volume of business, largely in anti
cipation of requirements, has been report
ed since 1892.' Larger transactions have
been in dry goods, clothing and shoes, and
South and West in wagons and farm im
plements. - "Another very favorable bank clearings
report is found in the total, $1,140,000,000
this week, which, while it is 1 per cent
less than last week, is 40 per cent larger
than in the third week of August, 1896;
26 per cent heavier than in 1895; 40 per"
cent larger than in 1894, and fully 55 per
cent larger than in the like week of 1893,
when clearings totals were reduced to
very low figures. Compared with the like
period in 1892, a year of large volume of -business,
this week's totals show a gain
of 13 per cent. Among 86 of the cities re
porting larger bank clearings, only IT
show decreases this week compared with
the corresponding period last year. Bank
clearings at other cities than New York
are 17 per cent larger this week than in,
the like week a year ago, but at New
York the increase is 56 per cent.
"Prices for staples continue the favora
ble movement of the past few weeks, with
advances for wheat flour, wheat, new
pork, butter, eggs, cheese, corn and oats.
Hides are also firmer and higher. Ging
hams have advanced c, while the cotton
mills are starting up, and jobbers in
woolen goods- are getting higher prices
for spring delivery. There have been a
large number of resumptions among iron
and steel concerns this week; Bessemer
pig is 25 cents higher, and the outlook is
for improvement. Sugar, cotton( print
cloths, wool and petroleum are firm and
unchanged, while coffee, almost alone
ami .g the staples, is lower than last
week.
"Exports of wheat (flour included as
wheat) from both coasts of the United
States and Montreal this week are the
largest in any week since September,
1893, amounting to 5,218,000 bushels this
week, as compared with 4,460,000 bushels
last week, 2,991,000 bushels In the week
a year ago, 2,389,000 bushels two years
ago, 3,182,000 bushels three years ago,
and as contrasted with 4,9G0,000 bushels
in the corresponding week of 1893. Ex
ports of Indian corn this week are also
exceptionally heavy, the largest since the
third week in' April this year, amounting
to 3,929,035 bushels, as compared with,
3,275,000 bushels last ! week, 2,769,000
bushels- in the week a year ago, 1,195,000
bushels two years ago, 105,000 bushels
three years ago, and as contrasted with
983.000 bushels in the like week of 1893.
"There are 221 business failures report
ed throughout the United States this
week, against 214 last week, 264 a year
ago, 192 two years, ago, 251 three years
ago, and as contrasted with 456 in the
third week of August, 1893."
CON FIDENCB IN THE FUTURE.
It Is Strong and Increasing, and
Nothing Appears to Check It.
R. G. Dun & Co., in their weekly re
view of trade say: Not for several years
have the telegraphic reports from various
cities in all parts of the country been as
encouraging or shown as uniform im
provement as this week. The markets
are called crazy by some, but fairly rep
resent the people whose confidence in the
future is strong and increasing. Nothing
appears to check it. Kumors of injury to
crops are not sufficiently supported to
have much influence. The one temporary
hindrance is the strike of bituminous coal
miners, which interferes as yet little with
industries, and seems likely to terminate
within a week. The demand for money
improves, taking from New York to the
interior about half a million more than
was received during the week, and offer
ings of commercial loans are much larger,
including considerable iron and steel pa
per, and the course of foreign exchange is
generally interpreted as an indication that
specie imports cannot be long delayed.
The greatest gain has been for agricul
ture. Corn has advanced a little in price,
but is moving very largely, so that the
last year's surplus may soon be marketed,
unless the new crop turns out better than
many now expect. Cotton declined an
eighth because of an estimate promising
the largest crop ever grown, but the goods
market is decidedly improving, and some
of the large mills, after a few weeks of
suspension, have resumed work: Other
farm products are doing well also, but
wheat has advanced about llc for the
week on actual transactions, with heavy
purchases for export. The official esti
mate of yield is entirely disregarded, ex
cept as an admission that the crop will
be larger than that of last year, and it is
commonly assumed that the yield will be
550,000,000 bushels or more, though re
cent reports of injury indicating the possi
bility of a somewhat smaller outcome
have helped the advance in prices. West
ern receipts for the week were 3,844,554
bushels, against 3,974,775 last year and
for ' three weeks 11,340,207 bushels,
against 10,CW,137 bushels last year, while
Atlantic exports are about double last
year's 3,705,287 bushels, against 1,808,
347 bushels last year, and for three weeks
9,819,318 bushels, against 5,102,661 bush
els last year, flour included for both years.
It is well to notice that corn exports con
tinue more than double last year's also, in
three "weeks 8,516,544 bushels, against 4,
119.241 last year.
The iron and steei industry is pushing
forward in spite of the still unsettled
strike of bituminous coal miners, and the
enormous purchases of ore at Cleveland,
and also of billets at Pittsburg, show the
utmost confidence iu the future. Many
additional establishments, have begun
work during the past week, and while no
material change in- prices has occurred,
the reports indicate fewer concessions to
secure business and a much steadier tone.
The demand for finished products has de
cidedly improved, especially in plates,
sheets and bars, and in railway supplies,
particularly in car axles. The sales ot
ore at Cleveland have amounted in twf
weeks to 400,000 or 500,000 tons, .