, 1879-08-04

lNtA lH LILO Ah0 OF 1fon} ltlA the f1YlvA9 OF
iron industries throughout The country
means tint the hard times period is passed.
Bottom prices have boon raached the turn
has baou Hale, and we aro on the up grade.
No moro sound merchants will fai1; no moro
factories will como under the hammer of The
auctioneer; the fashion Of failing in busi-
meas has gouo ont, md tho fashion of sue
cooding has con,o In. The revival Of pros
pority in the iron trade is M unfailing aign
Of the revival Of nil other industries Iron,
in Its varied forms, may be said to entor
into everything in tho modern world OF
manufacture, from tho noodle of tho seam.
Stress to tue huge Steamship" the monarch
Of tho sea-" Railways consume vast guanti-
lies Of it; tho manufacturers Of agricultural
implements tnlfe thousands Of tons it goes
INTO millions Of sewing -mechinos, in doll.
catoly-wrought shapes, mud into hotels aud
warehouses in tho form Of hugo coluinns,
beams, and raftera. It constitutes part of
oyery mill, factory, shop, md warehouse In
tho land. Extracted from tho bowels of the
earth in its cr,1do form, it is manipu.
lated In tho foundry aud Workshop,
and sont back to the mouth Of the pit, whore,
with tho mid OF steam, 1t t1rags to tho surface
pondorouB loads Of orc, to bo In its turn con-
verted to tho uso Of man. Iron glows rcd.
hot in the kitchou-stove, aud In found hidden
away henoath tho rich upholstery Of tho COM
Portable armchair in the lsawiug~room, the
horse that trots mile in two minutes md a
quartetls shod with it, mud the locomotive
that draws hundreds Of Ions aud makes forty
miles IN hour Is nade OF It. Iron is tue uni
vorsal necessity Of man, tho Alpha and, Omega
Of material progress. 70 roalize how essen.
tial 1t Is to oyery common art, wo lavc only
to Imagine, II NO can. n world deprived of 1t,
no rail, no telegraph, no steamship, no
sowing-maollinos, no looms, no spiudlcs,
no factory. What, thon, would become of
a'l tho stalwart and the cunning workers in
iron? The world would b. t1arkor than It
was in tho middle ages. 10 supply tho com-
forts and luxuries we now hnyo would &C.
quiro all 1nankinl to labos, not oigLt, but
sixteen hours tlny.
When It is scil THAT "Furnacos tint
haye been id!o for years aro beiug put in
b'ast" tint "Ro!liug mills are running
night. and tlay"; that "Thoro IL n rapNl nd
vnueo In prices Of iron"; that " Every manu-
fecturor OF railway supplies i,as moro orslora
than ho eau fill n; and, finally, TINT tho
"boom" Is 10 pronounced that "All tho
mills have sent out circulars advancing
pricos, WHOM tlloso ars found to be tho
conditions OF tho iron markot aud tho iron
Industry, a daoidod Improvement in oycry
department Of labor and trails mny bo ox-
peoted soon to follow. Itis quito impossible
that tho iron-workors should prosper without
stimulating every ot,or industry aud
promoting tho hoalthful growth Of every
department Of tral0. And there
~ good roason to boliovo TINT tl,is result has
beeu already attained. From 1879 to 1873,
inclusive. there was steady docliuo in prices
Of oil commoditioa Each yoar tho NOR
ciant, whom ho stock Stock" was Obliged 10
record a loss Of from 10 10 20 per cont, III
most cases, this steady docllne for five years
"wiped out" the profit sitle Of tho triaI-bal-
ance' and In thousands Of casea It did moro,
lit sent tho unfortunate merchant to the
bankruptcy Court. With tho resumption Of
spocie.paymonta, this tlocliao In valuos gen.
oral1y ceased. In 1870 tho mercantile olass
entered upon tho year'a business without
four Of tho shrlnkago Of stocks, aud tho frat
half OF tho yoar shows 10 sl.rinkago. On
tho contrary, there has been slight advance
IN tho prioo Of many commodities.
OF course 1lr. Congressman Wa1alsrs De-
preston Committee have taken no notice Of
thf0 ha#1 tt f,,l lufv ho, {1,n,, II.