The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1884-06-12
THE BUSINESS OUTLOOK.

Notwithstanding the panic il
New York few days ago end thu
many failures in the fnancia
world. the business outlook fol
America has rarely been brighter
than it is at present. There are re
verses in the most prosperous times
but fortunately reverses do moi
always mean disasters; OF the con-
trary, they not infrequently have
the directly oppo2ite meaning Nc
one will claim that the late bank
failures in.New York had an inJur-
ious effect either upon the
industry or finance Of the cOun~
try; the effect was beneficial
rather than otherwise, the result be
ing to show which concerns w1re
rotten and consequently which
should 60 to pieces. It is note
worthy that no bank doing legi~
innate business either went 10 the
wall or was even hurt; only those
institutions that were speculatir G
with money belonging to other reo~
pie, or whose managers and officers
were stealing and squandering the
fun1s, went down; and it was bet
ter that they should go, for the
longer they kept up the more harm
would they do when the inevitable
crash came.
But the panic was short-liVed, snd
as it quieted, people looked around
and discovered the general condition
of trade to be remarkably healthful;
commerce wasnot unfavorably affect
ed and industry is active and prosS
porous. Reports from all parts OF the
country indicate large and success
full crops. One of the commercial
agencies reports that crop prospects
of the entire Pacific Coast were
never better, and the wheat yield
of California alone is estimated
at 57,316,4OO bushels, the
barley crop being placed at 2,457, 900
bushels. Throughout The wheat
growing States Of the northwest
from the Lakes to the Pacific, the
outlook is most promising. In the
Eastern and Middle States, while
manufacture is not INDUCING in any
boom, the Industry is healthful and
sufficiently active. Labor finds
steady employment at fair wages.
The South, since the breaking out
of the war, has not been IN more
prosperous condition than atpresent.
Other salts actory trade conditions
are seen on all hands. Prices are
universally low, and this is especi-
ally the case with reference to ar
ticles of food, which are particularly
cheap. This means comfort and
good health to ths poor and laboring
classes, and BODIES Of the content
ment 60 essential to prosperity.
Nearly every staple article is as low
as it was ever known to be, and
Iuxuries are so cheap that they have
become almost necessities. There
is one danger, and only one, that
threatens to disturb the most salts
factory condition Of things prevail
ing. When necessities of life are
cheapened there is ever an inclin>
alton by capitalists to REFUGE
the wages of employees. The
policy seems to be to keep the pur-
chasing 20 yer of wsgss within cell
tain defined limits. 1t has gone
beyond the boundaries now; there
has seldom been time when a man
could buy more for his days work
than he can to-day. Employers
may conclude to eh-nge this, and
the result WILL be resentment on the
part OF workmen, and the conse-
duent strikes and attendant evils !
The favorable business prospects
could be r0iued in a week, as
they nave been in times past;
it is not believed, however,
that this will be done, and the
country at large can congratulate it,
self on being comparatively safe
from financial disaster. It has a |
solid foundation, its natural pro-
ducts, to rely upon. and these are
such as to inspire the bravest hope.
Utah is as much favored as to the |
industrial and business outlook as !
any other section of the common
country. The promise held out to
her by the future is bright and
cheerful, and the realization will be
more than we can now anticipate.