Los Angeles daily herald., 1890-03-03
Business outlook I'm the united
States.

the people OF this country are ndturhlly
interested in discovering all the signs
that indicate that better times are ahead.
Fortunately these are abundant. Unless
past experience counts for nothing, we
are on the eve of great business
revival, and we will enumerate some of
the facts that lead us to take this cheer
full view of the situation.
Year before last the balance of trade
in our dealings with foreign countries
was against the United States to the
amount of upwards of thirty-three
millions of dollars. This was owing in
great part to the unbounded extrava-
gance of our people. Last year we re-
versed this exhibit, and we exported
$66 100000 more than we imported.
Thus. during the past year, we made a
showing fully one hundred millions of
dollars better than in the preceding
twelvemonth. The report of the status
of our foreign trade for January, 1890, is
even more encouraging, the balance in
our favor for that month having reached
the enormous figure of $12, ,000, 900, or at
the rate of $3.50, 100000
To appreciate the significance of this
exhibit the circumstance must be borne
in mind that the Paris Exposition took
place during 1889. If it had not been
for the large sums spent by American
tourists in Europe and in Paris during
that year-sums in excess of the ordin-
ary amounts disbursed by American
tourists-the coin balance in our favor
last year would probably have run up to
one hundred millions.
Thus we have reached by curtailed ex-
travagance very healthy financial con-
dition. If Congress shall enact law
some what more favorable to silver, our
mining interests will receive an immense
impetus and money will become quite
abundant. The sentiment in favor of
such legislation is strong, and it is to
be hoped that it will be effsctual.
1t may not be strong enough to
bring about the free coinage of silver,
but it ought to coerce the Secretary of
the Treasury into coming the maximu m
$4 0O0,000 month, provided for in the
Bland bill. Silver is being aided just
now by the pronounced revulsion of
opinion in England in it's favor. The
restoration of silver to its old parity with
gold-a contingency of the nj ar future
would mean the briskest times ever
known in the United States, not even ex.
cepting the flush era of '49, when Cali
fornia poured her Pactolian streams
into the channels of trade. Every step
W lich is made in the direction of the
reconciliation of silver, every voice
which is raised in it's favor-and these
utterances are now multiplying ON every
hands guarantee of an abundant
money market, a stimulus to enterprise
and an encouragement to the debtor
class, who for years have found them
selves between the devil and the deep
sea.
Another very encouraging sign of busi-
ness is the great activity in the iron trade
which has sprung up during the last
three months. This is 30 great that pig
iron is being imported in large quantities
into Pennsylvania from Missouri and
Alabama. This Goes not arise from any
failure in the deposits of the keystone
State, but from the utter inadequacy of
the furnaces there to meet the demand.
The railways of the United States, what
between betterments and extensions,
will this year tax the resources of the
steel plants to their utmost. The Car.
negies and other heavy Pittsburg manu-
facturers are already at their Wits ends
to get the raw material of manufactures.
1t has run into an axiom that the first
reliable sign of fash times is activity in
the iron trade. This rule holds good in
free-trade England as well as in the pro-
tected United States.
There can be no question but that Cal
ifornia will share largely in this revival
OF prosperity. The ability to sell real
estate freely in the Eastern States means
that there will be large immigration to
the Golden State, and particularly to
Southern California. 1t requires no
special gift of prophecy to predict that
this Fall and Winter will see the largest
influx OF psople-tourist, invalid and for
purposes OF settlem snt-svsr recorded in
this section. If the railways shall &C
cord on transcontinentsl travel some
thing even remotely approximating to
the rates OF fares on Eastern roads to
points OF popular attraction on the thither
side OF the Rocky Mountains, it will be-
come memorable in it's proportions.
TuR all uar nI1ontinr L. &C ...-.. ILL.,