Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1880-08-19
Good Times and the Way to Keep
Them

Good Times and the Way to Keep
Them.
The times are good. Business is boom
ing. Trade in the great cities is improy-
ing. new blocks are going up to meet the
demand for larger building accommoda-
tons, laborers can find plenty of employ
rnent at fair wages, and large business en-
that were suspended BY the panic
are getting upon their feet again. The
commercial reports Of onr leading cities,
says an exchange. indicate very clearly
a large and prosperous fall trade. The
opinion is that business risks have been
reduced to minimum, and that credits
are established on sound and healthy
basis The New York Economist in its
review says that the country has entered
at last on a condition of unprecedented
prosperity.
The New York Mail speaks of great
activity in the building trade of that city.
Architects. contractors and builders, it
says, have not been 50 busy for number
of years as now. One large builder said
to a reporter of the Mail: The great ac-
tivity in the building trade may be attrib-
uted to the growing confidence Of the peo-
pie and the great impetus that has been
given to all departments of business. 1t
seems that it is likely to be continuous, as
there Is no reason for any spasmodic in
vestment in the building trade. On the
contrary. few capitalists cared about build
ing much when all kinds of material and
labor were about half the price they now
are. Stone has gone up fully 20 per cent.
as well as cement. brick and iron, labor
% and 80 per cent, yet the prospect to
the end of the year is the best known for a
long time"
Another builder said that there were 30
per cent. more houses and stores now 60
ing up than last year. and very few were
built on speculation, the majority being
put up by the owners of the lots as per-
manent investments.
The real estate men are dong a good
business, particularly through private
sales. They claim that the appreciation
of property is due to the confidence among
business men generally. Much of this
arose from the resumption of specie pay
ments, which had the effect of bringing
business down to solid basis, and capt.
talists now buy freely both improved and
unimproved property, and are making
good investments at the increased prices.
OF course the great centres of trade feel
the boom in business first, but it is grad
ually working out into the country and
over it. We can observe in Maine an i'm
provement over last year, and this will
continue and increase more and more as
time passes, unless the political situation
interferes.
Now the beginning of the improvement
in business was the resumption of specie
payments. When we reached that
we PLANTED our feet upon solid
ground. Paper became as good as
gold. The money in which the laborer
received his pay became equal to that in
which the coupons of the bondholder
were cashed. When contracts for work,
or lumber, or hay, or any other article of
traffic were entered into, the contrac-
tors knew just what the value OF the dol
lars were and would be in which pay
ments were to be made. The element OF
uncertainty, of gambling, of speculation,
went out OF our currency, when we re-
sumed specie payments. Hence there
was sound stable basis for business to
build upon, confidence revived in conse-
quenee. business began to start, and has
been steadily improving from the first of
January. 1879, to the present time.
Following the resumption of specie
payments came an abundant harvest, and
a large demand in Europe for our surplus
crop, which aided immensely in the firm
establishment of a sound financial basis.
by supplying us with the gold necessary
to sustain resumption. So we stand to-
day prosperous nation. our people
blessed in all their material interests, our
flag respected in every land. the burdens
entailed upon us financially by the demo-
cratic rebellion becoming less. an abun-
dant harvest again smiling upon us.-all
this under republican management.
But let Hancock be elected, what then ?
Our sky at once becomes clouded The
government passes into the hands of men
who did all that mortals could do to de-
stroy it. The future-what will it be if
the Solid South has the controle Is there
any business man of Intelligence who
feels the assurance that the prosperity of
the nation will continne il Hancock is
elected? What will be the financial pol
icy of his administration if he becomes
President ? How will the vast aggrega-
ton of rebel claims be disposed of Can
there be peace under the bulldozing prac-
tees OF the South, the assassination Of a
tree ballot and fair count
Ye men who desire business prosperity,
think if Won have not sometime tn do in