Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1886-01-29
THE OUTLOOK.

The indications favor n revival
in the iron business and as a con-
sequence activity in all other
branches of industry. The New
York Times, OF the 9Th, contains a
column of rather interestln inter
views with prominentbusn men,
which it introduces, by saying: "lf
it be true, as it is claimed, that the
condition of the iron trade IS the
pulseot the business of the country,
it Is safe to say, basing the asser-
ton upon the outlook in tho iron
business, that the coming year Will
be one in which business generally
will be much better than it was last
wear. Interviews had by a Times
reporter with a large number OF
firms in all branches of the iron and
steel trade indicate in substance a
healthy condition of the trade and
a rood demand for all classes OF
goods in which iron is the material
used, from railroad equipments 10
builders' hardware. The markets
are firm, there is very little specu-
lative buying, no stock on hand to
speak of, and a sufficient present or
immediate future demand to indl'
cate a GOOD business for the year to
come. No one in the trade believes
that there is boom i'll prospect,
and every one hopes that there will
be no boom, but rather a continu-
ance of the present healthy and
normal condition of trade
Whether this favorable review is
the result of passing activity in the
iron trade, in obedience to a tenn
porary demand, or an indication OF
q general revival Of business, can
not now be determined. The hope
ofthe country is in the Senate. If
that body should adopt some such
resolution as that offered by Sena-
tor Cameron, of Pennsylvania, de
claring against any disturbance OF
the present tariff laws, then it may
be reasonably assumed that conf
dence will be inspired and the bus
mess energies of the people and
capital be directed into industrial
channels, and give impetus to en-
terprise of all descriptions. One
favorable Indication is the condition
of the bank reserve of New York.
A few weeks ago it reached SO4,-
OOO 900. At the last statement 1t
had been reduced to S2l, OOO,O OO-
showing that S4O,OOO,OOO of idle
capital had been taken from the de
positories and thrown into business
avenues. The protracted inactlvl'
tv of both capital and energy has
caused great restlessness in busi'
ness circles. 1t is not the natural
condition of money or enterprise,
and it might be reasonably antlci-
pated that they would not remain
so longer than safety and the abso
lutte necessity of the situation de-
mand. The letting loose OF this
large amount Of capital must mean
something, and what other interpre-
tation can be given to it than re-
vival of business enterprises, we
cannot see. One unfavOrable de-
yelopment of the last week is the
character of the Ways and Means
Committee appointed by Speaker
Carlisle. Its complexion is that OF
free trade, and it is confidently ex-
pecfed that Mr.. Morrison, the char
man of that committee, will Drlng
forth and report another horizontal
bill or some concOctiOn similar to
that introduced and defeated last
session. OF course such a policy
on the part of the Committee Will
insure an excited and acrimonious
debate on the tariff question, and
this agitation will create distrust
in business circles. The Democrat
ic party is free trade party, let 1t
come in whatever disguise 1t may.
1t controls the popular branch OF
the national legislature and the
| Executive Department, and 1t is
presumed the influences under Its
command will be directed to carry
/ ing into practical effect the policy
if maintains. The only reliable
check to this is the Republican Sen
ate. Hence the Importance OF the
adoption of some such resolution as
that proposed by Senator Cameron
It's only by early action in that Ill
rection by the Senate that timidity
can be averted and apprehension
allayed with business men engaged
in manufacturing enterprises.
After the long stagnation in bus
mess which has been experienced,
| it is unfortunate that party is IN
power in whose purpose and policy
the great mass Of the business peo'
pie have no confidence. 1t is ac'
cepted as a standing menace to ma
tional progress and prosperity. Its
whole history has been hostile to
industrial interests, and the EVIL
dences furnished thus far demon
strate that it has learned nothing
from the past quarter OF century
The condition of the cOntry, when
1 it was first thrust from power, and
/ the condition now on its return,
seem to have made no impression
upon its leaders. They are for re-