Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-08-06
Business Recuperation.

Pittsburgh Gazette.
While many favorable predictions
have been made as to business revival,
based ON the wish that il might be so,
the time has come at last when such
statements rest on the basis OF solid TACT.
Perhaps the iron industry affords the
best possible test of the general market
1t was slow to yield under the panic, as
orders were in that required months 10
fill. Equally, it is. slow to respond 10
an improved condition of affairs, as there
must have been a solid advance IN other
directions to admit OF large and ex-
pensiye orders for iron. Iron in most
OF it's uses, represents permanent IN
yestments, intended to prosecute certain
forms OF business. 1t is what Is called
"plant." 1t is, therefore, significant
that orders are pouring in freely upon
our iron manufacturers. They prove
an active and prosperous condition OF
affairs, in that capital is being invested
in large amounts in enterprises oil a
permanent character. That these out
laws are justified is proven by the I'M
mense crops raised-includlng wheat,
rye. corn. and cotton-and the known
fact that Europe must make a large de
mand on our resources. And there Is
no good reason for believing that this
will not continue, as from week to week
we learn more clearly what advan-
tages we have in competing with
Europe. There will, no doubt, be occa-
sionai fluctuations. Neither prosperity
nor adversely moves steadily along-and
while we are practically out OF our panic
every business venture will not uniall-
ingly prosper. Still, il is evident that
We are on the upgrade.
The effects of the panic OF 1878 have
been more than usually prolonged, un--
less we accept the estimate OF some, and
assume that we began our recovery a
wear or eighteen months ago. Usually
from four to five years suffice to END Il
period of depression caused by panic
Counting from 1878, and assuming we
are only now on our permanent recoV-
cry, we have been over five years III
overcoming the effects OF the panic. But
there is no doubt that we are AT least
ont of il, under circumstances that as
sure. if we are at all prudent, long
career of unallOyed prosperity. We
have kept our national finances IN a
sound state; we have opened up to cul-
tiyation territory of great fertility; We
have enlarged our export trade Ill lar
greater proportions than we have our
import trade. We are still preparing to
open up more land to cultivation,
and so railroads are being built to car
nv the products of the soil to tide
water for shipment abroad. So far rs
recuperation and prosperity depend
on our people, all has gone well. Con
gress has been deficient and has failed,
in several particulars, to cooperate IN
diligently with the people. We ought
10 carry our own products in our own
vessels. to foreign markets, but are not,
as vet, able to do so. Ali this may
come in due time. But for the present
we may feel perfectly sure that we are
rapidly recovering business activity
and prosperity. All this is evidenced
in many WAYS. Railroads are busy,
purchases and sales are large, crops
are heavy and markets await our surplus
products. Our iron mills, the last tC
feel the effect of adversely or prosperity
are now full OF orders. All this assures
permanent prosperity.