The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1891-06-09
WHAT IS THE MATTER?
Trade In this Country is a Little of
just now, but win Revive.
4 WHEELING TOURISTS VIEWS
ofthe Causes of the Depression and
the waylt will be ovcrcome.-It is
Partly duo to the Silver Laws aud
Partly 70 toy Savings Bank.


Areporter of the ISTELLIGEScER called
ct the Central Glass Works and asked
the president, Hon. n. B. Scott, how
business was.
"oh,". said he, 1--WE can't complain
that the glass business is any worse of
than most every branch Of trade, 1t is
little depressed now, but SO is every
business, l have Just come from the
east, and l found everybody there
lamenting the dullness Of trade"
when do the glass houses shut down
for the usual summer stop?"
"Thcy will be shut down from the
Inst Saturday in June, the 9th, to the
second Monday in August, this year the
tenth. But stocks are unusually heavy
III all the factories, and doubt II many
Of the factories win DO in q hurry to
start up on August 10. The stocks on
hand now are larger than they were in
January, and many factories will not re-
sune until September"
How do you account for the general
depression in businessp Mr.. Scott was
asked.
II have given that good deal of
thought he answered. "There arc in
my opinion several causes. In the first
place, the howl raised blythe Democratic
press last fall just before the election
led the people TO belieyewe should have
hard times and possibly a panic II
the Republicans passed the Mckinley
bill, and they began to hoard
up their money in anticipation of a
cfashas predicted by the Democts'J.
Confidence is not sufficiently restored
to induce them to bring 1t out. Then
there is q still more effective cause; In
anticipation Of the passage Of the new
tariffbill importers increased their i'm.
port orders far beyond the wants of
trade, expecting an active trade at in
creased profits. Those goods came
over, were paid for in gold and
the duty paid. Away goes our gold
in large sums.to Europe to pay for goods
which are still storedin the warehouses
OF this country, and which these i'm
porters find to their sorrow cannot be
sold.
"Then, too, the grip had big effect.
Il was, as you know, prevalent all over
the country, and besides interrupting
business in many departments badly,
the cost Of the illness and the deaths
that were so frequent was in the aggre-
gate enormous. The life insurance COM
panies say that the grip cost them more
than any epidemic that ever prevailed
in this country. Look again at the
miserable weather VIC had from January
to April; that made country roads bad,
and bad roads affect every business dis
astrously.
'iDid You ever think" said Mr.. Scott,
with sudden start, as If tho thing had
Just dawned on him, "what an effect on
the money circulation of the land those
toy savings banks. must have-the kind
that takes in dimes, and you can't get
one out until the thing is full2 They
are all over the country; why, man in
New York told me they had made six
million OF them! Think Sot that! II
only onemillion are in use, that means
three or four million dollars tied up out
OF the channels OF trade"
"But isn't the glass trade suffering
from over-production%
.'There can be no denying that it is.
II results in little or no profit to the
makers, but the thing in time will right
itself and it will be case of survival OF
the fittestn
@Whaflis the remedy for the general
, depression"
at will come all right in time. Peo-
Pile already see that the new tariff law
not only is not going to ruin the coun.
try, but that it is good law and will
help to bring about good times in the
near future This is great country,
( and is going ahead at a rapid rate.
Joseph HatEon, an Engllishman who
! ought to be good authority, says that
ten years in the history OF America is
is as much as half a century OF Europe's
progress, and when man gets
about oyee this country he be-
gins to see what a great nation ours
Is. To-day England is herself
successfully rivaled by American pro.
ducts in her own markets. This coun-
try produces one-half the worlds sup
ply Of gold and silver, and such vast
resources as We have guarantee q re-
covery, and an era of prosperity such as
we have not often seen"
"speaking Of gold and silver, isn't it
true that we are sending too much OF
our gold abroad"
Eyes, 1t is; and that is another thing
that is having bad effect on our busi-
ness. We send our gold abroad to pay
for foreign products, and the men who
ret it come over here and buy up our
silver bullion with it, and when the
government comes into the open market
once q month to buya certain amount
Of silver bullion, these mon sell it to
her at profit. In other words,
the silver bill places them
in q position where they can take
American gold and purchase American
silver with it, and then turn right
round and sell that silver to our govern
ment at handsome profit. We cannot
buy abroad for silver; every imported
article must be paid for in gold. But
with all these depressing influences, you
remember my prediction: this country
will come out all right in short time
right side up with care. You can't keep
her down.