New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-11-07
NONEY IND BUSINESS.

|
prolongng the present great prosperity, the other
side claims that both candidates are good men, SO
that the election of neither would do harm. Be
| tween real benefit and no harm, practical men
| usually choosc the positive good. But shrcwd
business are quite aware that the success OF
| Mr. Cleveland and his party, making radical
change in the industrial and financial policy Of
government, could not be, expected TO do no harm.
, The destruction Of some industries and the Grip
! pling. OF others would at once be anticipated by
| a great number Of manufacturers, merchants ana
bankers, whose change Of action for their indi-
vidual protection would inevitably affect most
| kindly of business. Even those who think tine
Democratic policy would ultimately make the
country more prosperous are obliged to recognize
the fact that the first effect Of change would be
disastrous. 1t is partly for this reason that the
promised 10000 marching men Saturday
dwiudled to 10000 men and boys.
Apparently the Street has very little eXpeota-
ton of a change. Stocks are dull but steady,
money is neither scarce nor hard 10 get and tie
unprecedented activity Of businee, through the
months OF political controversy has surprised
everybody In spite Of the campaign, in spite of
the Columbian celebration, which stopped business
two days here and one day throughout the rest of
the country, and IN spite Of the fact that October
this year had five Sundays, but last year only had
four the payments through clearing houses outside
Of Ncw-York wcre 2,323 0OO, 900, against 22I3,-
100000 in that month last year Thus transactions
were "a per cent greater than last year, and by at
least fifty millions the largest ever known in any
month This ~ the more remarkable because
prices this year unusually low, averaging for
October per cent below last years. II is still
more remarkable because tie crops of cotton, corn
and oats are short.
% all ,-,fi
for October aggregate $3l, s6j,5l7. against S3l,-
Ol372s last year, gain Of 90 per cent? and
this also is in spite Of decrease of per cent
in the number OF working days in the month. The
cotton carriers have been doing much less bust
ness, for the quantity which came into sight in
October was Sol 900 bales less than last
year. and in November thus far only 100000
bales, against $4,000 last year. 1t is not
strange that the price has advanced an eighth.
though Mr.. Ellison's statement shows "a sharply
declining consumption Of cotton in Great Brit
Gin during the last year and some decrease on
the Continent, and the great strikes. which
expected 10 keep mary thousand British opera
tlves idle for long time. have now begun. The
movement of anthracite coal has also been re-
tarded by the high price which the monopoly
maintains but the consumption OF bituminous is
increasing very fast and the deliveries are heavy.
The open weather in most parts OF the country
has prolonged the building season, and the demand
for lumber has been large. But deliveries OF
cattle at Chicago have been little below those
OF last year.
II is very remarkable that Western receipts,
not only OF wheat but also OF corn and oats,
have been larger Stree October than they were
las. year, when the crops were enormous. They
have amounted TO 36,00000o bushels OF wheat,
against 20,00O,O00 las: year 100000 bush
els Of corn, against 100000 last year. and
l2.q0O.000 bushels OF oats. against 100000
last year Highly favorable weather and
good roads have something to do with
II. but prices are so low that the great
movement seems almost ineNplicabe. Wheat lac
fallen during the last wcc; 10 % l2 cents here
hut recovered to - SIS cents, while corn, az
40 3.s cents is just the same as week ago.
and oats at 81 IL cents, are one cent higher. The
census report OF acreage devoted TO cereals ai-
fords n new basis for estimating these crops. so
that important revisions Of estimates may be
rodc hereafter; but there seems TO bc wheat
enough This year. at all events
The great branches OF manufacture give 10
sign OF diminishing activity. In iron and STEEL
the tono is stronger, and trade journals state
that stocks OF materials are rapidly Disappearing
while tho demand for structural, plate and sheet
iron IA lcavy and growing. 10 thcse VINO Hhu
n politically inconyenicnr to believe that Aih'rl'
cans are making Tin plates IL will he unwelcom"
news that TIE demand fer the thinner iron ana
steel sheets is particularly urgent, and Special
Agent Aver reports considerable further increase
in the production Of tin plates for the last quar-
for especially In those made from American
materials The woollcn manufacturer Is not YET
through with deliveries for one season, whlle
OBLIGED 10 prepare and oncr samples for another
and sales Of wool 1t Boston, Philadelphia ana
Ncw-York since tho middle Of May have been
l67, 900 600 pound. against 12o,ooo'ooo poUhus
last year. an increase Of - per cent Inc VOL
uutary advance In wages paid by Fall MNT
oot,on mills said TO average per cent or more
Is not only evidence of past prosperity, but proof
that thc manufacturers an cipate u large business
IN thc futrtc notwithstanding the fact that tn"
Southern production has enormously increased.
Shipmcnts If boots ana shoes also continue 10
exceed tlos, Of last year. or any other year
Tho Official report shows that tho volume oil
circulation Of all kinds increased SlO,OS9,75@ IN
Octohor. about 81, 600 in new Treasury notes,
q ooo 600 in standard and subsidiary silver,
while S2.SO0.O00 silver certificates were retired,
ard 60 zoe. 600 have been added 10 the circula-
tior of leoal-trndcr notes During the last week
cha Treasury has takon in 100000 more gold
and 81 O0O. 600 silver, but has put out 81 ,O00,-
ooQ more notes There is ii clearly increasing
demand for money at many Western points, but 10
siens Of strnccncy are seen anywhere, and coliec-
lions are generally much better than usual at this
season. In short, il the business world coulG be
certain that no Political change would come TO
causc disturbance, II would undoubtedly anticipate
with entire confidence continuance and eX-
p,rsion Of the present prosperity. But the sud
den nrostration which followed the Democratic
victories in 1890 and lasted for nearly year,
will not be forgotten.
The last day OF the campaign should be de.
,...,I Ga work of seeing that the vC:,rs