New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-26

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and smith would be an improvement on ALBEIT
only because he sands for the opposition 10
| AbbettSm.
| THE NATIONS BLESSINGS AND DANGhHS
As one surveys the industrial world at the
close Of the wear he finds nowhere condition
of general prosperity except IN 'he uill'eu
| States There is sore industrial depression III
| Great Britain, aggravated by enormous ioNSo>
of the thrifty working people through laiiuIc
of building associations, OF which single one
has liabilities of $50, 100000. In France IN
! dustrics are much depressed. and the losses %
the people through investments III the fa'ana
| Canal have been heavy. In Germany the pros
! tration of industries is the true explanation oil
tbe suffering and serious discomfort manifested
IN Ro,ljn and other cities Bad crops and the
cholera have contributed to the trouble, but DO
not account for the whole OF il, since the de-
preston is especially great IN Great BntaH
where crops have not been seriously diminished
and where cholera has not disturbed trade or
! industry.
In the United States it appears TO be the
fact that there never has been time, IN all
! the past history OF the country, when ltS labor
has been. on the whole, so fully employed, or at
as good wages, as during the last year Almost
every branch of manufacture IS pushed To
greater production than ever because the de-
mand for consumption is unprecedented.
Though the cotton mills have turned out more
goods during the last few years than ever be-
fore. stocks held by dealers are 50 low that
orders are booked for months ahead and prices
Of goods have advanced. In the manufacture OF
L.. Loo, hat no
corded sales OF wool at the three principal mar
kcts are G. 100000 pounds, or about - per
cent greater than in any previous year IN
silks the demand has been SO great that imports
of raw silk in ten months have been greater
than in any entire year before and greater by
600 600 pounds than in the same months last
wear. In boot, and shoes the shipments from
the East have been the largest ever known 10y
1o5. 900 cases. or ! per cent In iron and steel,
notwithstanding much interruption durns the
wear by strikes, the consumption appears 10
have been as great As in any previous year ana
far surpasses that of any other country.
But while many columns could be filled with
evidences that tho industries of this country
have prospered wonderfully, and have increased
their production far beyond that OF any preylou,
wear. it is also a fact. established by abundant
evidence, that wages of labor have been higher
during the last year than in any previous year
Together with these facts, Tor full understand
ing of the situation, must be taken the great
fact that prices of commodities have been on
the whole lower in this country than IN any
previous year. With larger wages and lower
cost of living than ever the millions of Ameri-
can workers have enjoyed prosperity quite
unprecedented.
These conditions remain, though the people
have voted TO oyerturn the policy under which
such uneXamplcd prosperity has been realized.
| They remain because in no respect have the
laws governing the condition and development
of industry been altered as yet. The belief
with some and the fear with others that those
laws will be altered after another year, If not III
| 1898. have cXcrtcd a rctalding influence. pre-
venting TO some extent, the further action
which was in progress in November. But the
people OF this country are aware that changes
can be reached only after some time and the
industrial condition Of the country and the
working millions is substantially that which
the policy dominant for thirty years has created.
In the financial world a different state Of
things appears This is because Investments
of capital amounting to a thousand millions or
more in this country are controlled by foreign
ers. who are less familiar than Americans with
the delays which intervene before decision Of
the people gets expressed in changes OF the
laws. If they believe as most foreign in
vestors do, that free coinage of silver would
drive gold ont OF the county, and presently
make silver the only money which could be
realized for a loan or an investment, they re-
gard with fear the success Of the party which
has for fifteen years constantly agitated for
| free silver coinage. At the same time they
sec that the industrial policy is to be changed
under which this country has proSpcrcd more
than any other on earth. reversal Of that
policy means risk to foreign investors which
some of them do not care 10 take.
Thus it is that. while industrial prosperity
continues, the gold which foreign investors
have here they have withdrawn to the extent of
more than Sl0,500.0O0 within the last four
weeks. Besides, capital has also been with
drawn in the form OF merchandise exports cX-
cecding imports for which gold might othcg-
wise have come hithcr, to the extent Of
SD ,0O0, 600 more, it is probable within the
same time That such Withdrawals if con
tnucd, would ultimately affect industries scr-
ou,ly cannot be doubted by intelligent Demo
Gratis To them the people have committed the
responsibility Of guarding against the dangers
which their success involves.
In other respects Americans have reason to
regard the condition of their country with great
pride and hearty thankfulncs>. The splendid
progress which has been achieved during the
year which is drawing near it, end in industrial
pr ductiOn and in the condition Of the working
millions is not the less gratifying and honorable
though majority of the voters have been per
suadcd that still better results can be attained
through a different policy.
ORGANIZING FOR coon ROADS,
4 league in the interest of good roads has