The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-05-16

diction was also made ut that time that
ths tide would turn, giving us an era OF
business activity during the years 1883.
1890 and 1891.
The persistence Of the repetition Of the
trade cycles il becoming commercial
wonder; they ride triumphant over all
events which have occurred during the
past sixty years To oppose such regu-
larity.
These cycles have been verifying them
selves through the introduction al rail-
roads, steamboats,, theelectric telegraph,
the suspension of specie payments in
1897 and 1857. the panic OF 1873,
through the Mexican war, our civil war,
through all our presidential terms since
the administration Of jackson, and up
To the present time override and defeat
the aims Of the present administration,
while using the whole machinery 81 the
government FOR ne election, with the
avowed policy al a low tariff. which
would depress our industries.
What else cnn a. reasonable person ask
To- prevent their repitition? Better times
and higher prices will prevail for the next
three years, and mo- happening OF opponi-
tion can prevent them.
The outcome oi the presidential cleo
recovery OF confidence; an element That
has been wanting for the past four years,
which we have observed by the many idle
furnaces, mills and factories and the low
est price Tor nails, steel rails and pig-iron
for number Of years.
The year 1889 opens with cheerful
hopes. Our crops during the past year
have been abundant; the prospects OF an
increased foreign demand for our surplus
grain and provisions at advanced prices
give the farmers renewed energy. We
must look forward To a hot and dry sum
mer this year, ms we are not yet beyond
the period for a general drought how
ever, with lair early crops, business ard
prices will show considerable improve
ment in the spring months
We are at the beginning of prosper
GUS period aud the outlook Is for a de-
cided Improvement and advance in prices
of iron, railroad stocks and all manu-
featured commodities. Whenever our
manufacturers are prosperous every in
dustrial class is prosperous.
predict that the price oi iron will nd
vance and the average price for the year
1889 will he higher than thenvernge price
for 1888 and also predict that there
viii bc a wonderful advance in prices for
iron stocks and all products and com
mudities in 1890 all business will he
prosperous and il will be a year az good
crops and the boom year IN this period
of activity.
In the beginning OF the year 1891 spec
ulation will be- at its height-a great bus
mess inflation-pig-iro nifty dollars per
ton in the markets Of our country.
predict that there will be Il panic in
the year 1891. The overtrading and
general imitation Of business and expan-
sion OF credit confidence, will produce
this result. The panic probably will be
brought about 10y the effects 81 heavy
rainialls ind floods, or by the collapse Of
solne large financial business firm.
This panic will be commercial and
financial business revulsion and will be
followed 10y long down sweep Of prices
The main part OF this forecast Of Ben
ner's came cut all right--that the year
1890 would be the boom year in all
branches OF business; il was all Of that.
Considerable speculation was going at
the opening Of 1891, but il was more
cautious than anything else and pig-iron
was not selling at fifty dollars per ton in
any OF the markets-plenty Of holders
who would have been glad to let 60 mt
that figure. The year 1891 at this time,
promises anything but panic, on the
contrary the general feeling IN much
stronger than at the opening OF the year;
still there is yet more than seven months
for panic To get in its deadly work il it
cannot be prevented. In all branches OF
trade this year is not TO begin TO com
pare with last.