The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-07-06
BETTER TIMES.
A Growing Belief That We Are
ON the Threshold of q New and
Great Era Of Prosperity.

LEI, pub IN BcueIA Au6l Soy A1eh s4e
period Of contraction Il substantially At
10 end; that prices Of commodities are
90 low - TO make the low wages Of the
present day better for those who receive
them than we're the high wages Of the
period Of inaltioD; that there are album
dInt evidences Of q somewhat rapid
growth Of our foreign commerce; that the
country has been enriched BY the large
crops Of several years past, sold in gen.
erai at good prices; that the people have
a. last submitted 70 habits Of economy,
which tell very rapidly in increasing the
sum Of The national wealth; that the re-
distribution Of property, which has
caused 20 much suffering, is now almost
completed, or, TO put It in more homely
phrase, the Sheriff has almost finished
81 work; and that, unless the next Con-
gress should commit some striking folly
10 plunge us back into the morass, the
country e really on the upward way.
We believe this reasoning Is In the
main correct. It Is an undeniable fact,
shown by Official statistics, that the pro-
duction Of all necessGries Of liie-food,
Iuel and clothing has actually and
largely increased during the last Ten
years. Low prices have prevented great
dividends or striking profits, but low
prices are an advantage TO the mass Of
men who labor for wages. The redistri.
button Of property arising out OF the
failure OF rash speculations and ven.
tures Ia not yet complete, but nearly 90
The tendency Of the more energetic part
Of oar urban population TO the land is in.
crossing, and il one Of the most healthful
and promising signs for the future, a Ia
also the other fact that our merchants
and manufacturers are at last thoroughly
awake TO the necessity OF largely incteas-
ing our foreign trade. Agents OF Amer
lean houses are engaged in creating de-
mand for our manufactures in distant
markets at this time in far greater num-
bers than at any period since 1880 and II
the next Congress will only give the
country free ships we shall see at once 8
rapid and enormously beneficial stimulus
given 10 the sale Of our products In other
countries, and Americans will regain
what was accounted one OF our glories
before the wsr-the great and profit
able carrying trade we lost By the war.
We notice that Mr.. Edward Atkinson,
who Is one Of the highest authorities on
the subject, because he ia careful and
extremely well informed observer, and
BY no means an optimist. concurs in the
opinion that the country is on the upward
turn. Mr.. Atkinson foretold in 1869 &C
curately what would be the result OF the
pspe. money imitation and speculation Of
that period. @Contraction," be wrote at
tina. time, until our currency comes TO
the standard which regulates itselt-that
Is the specie standard-cost whAtit will
and hurt whom it may, is the only cure;
il it does not come through voluntary
legi.lation it will come through involun-
tsry bankruptcy" The experience OF the
country during the dreary years since
1873 has completely justified these words;
and tits the more cheerful 10 ind that he
who wrote them now sees reason to be.
lieye that q revival oil prosperity is at
hand. He looks for rising prices on a
gold standard and for 3 restoration Of
confidence, and be insists on the fact
which the Herald has often pointed out,
that we are suffering not from want but
from plethora-we have more tools and
materials Of industry than We can use
under our present system.
BE seems TO US to prove conclusively
that we have already made up, and more
than made up, the Losses OF the war, and
even Of the succeeding and disastrous
period OF imitation and speculation. Bot
he points ont that in time OF universal
economy and retrenchment the middle.
men, the retailers, who became upduly
numerous during the initiation period,
End themselves, 10 q large extent, flung
out; and these need to accommodate them.
selves 10 the new and better order Of
things-they must become producers or
else suffer want and distress.
Mr.. Atkinson holds that "the limit OF
the fall OF prices has been reached and that
in the practical disappearance OF the 30.
called premium on gold We have evidence
that our normal commercial relations
with the world are about restored Con.
gress has adjourned, doing far less harm
than was feared, and there is reason 70
believe that the short session between
next December and March will make no
changes in either the tariff or the curren.
cy lsws. In that case merchants and
manufacturers have clear eighteen
months in which TO pursue their busi-
meas, without fear Of disturbing legisla.
tion, which is an unmi1ed benefit at this
somewhat critical juncture, when what
Ia mainly needed is n restoration Of
confidence, for which fixed laws are 20
necessary that even bad laws are for
the moment more tolerable than
changing and uncertain legislation.
The Treasury Is on the whole in a salts.
factory condition, and Secretary Sher-
man has won the confidence Of the coun,
try by his firm hand in managing the
currency. Many experienced men do not
agree with his policy; but they see, at any
rate, that be has q policy and is incliued
to stick to it, and that he Is preparing for
resumption. With all the laundering
legislation Of Congress we are advancing
toward "hard money" What Is still
needed is that considerable part Of our
population shall adapt i,self 10 other in.
dustries thsn those into which 1t was
drawn by the abnormal demands OF the
war and The period Immediately follow.
ing the war. It IL absurd TO say that we
have 100 many people in this country,
when millions upon millions OF fertile
acres await the plough. We have not, In
fact, nearly people enough. Its equally
absurd to say that machinery has taken
the place Of men 10 their injury.
Labor saving machinery has undoubtedly
made great changes 10 this country in
the last twenty years, and far less mum.
Der Of hands are now needed 10 turn out
even larger product. But this does not
mean that men are surplus; it only means
that they must seek new employments,
and II Is our peculiar good fortune, be-
yond all other civilized countries, that
Wehaye agreat abundance Of cheap lands,
on which those whom new inventions
throw out Of employment can find more
independent subsistence than factory OPP
eratiyes ever have.
The immediate future ia full Of prom
ise. On every hand mems energies, 20
long paraiyEed, are reyiying. Want and
distress have sensibly stimulated the en-.
-. L z q