New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-26
SOME PL1IN MORALS.

AS the close of the year approaches cApi'H-
sions Of relief are heard Oh every side Inc
fact is generally recognized that 1S'E' has peeh
a most disappointing and disagreeaDlc year,
fraucbt with business disaster. shrinkage OF
values and poverty and distress Not since
1851 have the conditions of business been IN
VOWED in as much uncertainty and confusion.
After twelve months of anxiety and depression
all classes In the United States are awaiting
with eagerness the shifting of the calendar
which will close the record Of disastrous
wear. Whatever may be the fortunes of new
year. the American people can hardly expect
TO accumulate during the next twelve months
a stock Of experience equal in value TO what
has been acquired during 1893.
If the two years, 1892 and 1893, be COM
pared, the sharpcst possible contrast VIII DE
found in the extent TO which the American
people have been employed in countless forms
of industry. Before the election of President
Cleveland every factory was in operation, all
kinds of business were brisk, there was buoy
ant feeling of confidence pervading the coun-
try and there was work for every one who
was in need Of it. Not only were wages ana
salaries at the highest level known since the
Civil War; but employment was constant ana
for full time. In manufacturing towns IL
seemed to be almost impracticablc to Keep up
with tie demands Of trade. Factories were
running day and night and notices were posted
ut the doors that more help was wanted. win
the election of President Cleveland and Dem
ocratic Congress came the menace OF the re-
yersal of all the policies which had been in
continuous operation for thirty years, and 10
which all forms of industry and business had
been adapted. Factories have been either
closed or are running on half time or inter
mittently: hundreds Of thousands or workers
are unemploycd: wages have been cut down
% or 80 per cent: and feeling Of hopelcSsneSs
and desperation Is dominant where year
ago prosperity, thrift and confidence prevailed.
The moral from such Il radical transition rs
This in the course of single year is one that
cannot be explained away or misinterpretcd.
1t points to the superiority Of any system OF
industrial policies by which the mass Of the
population Is provided with steady, remuner-
alive employment. This is the secret Of Ma
tonal prosperty-work for Ill and Il chance
for everybody to earn a living.
There is another plain lesson which has been
taught by this most disagreeable but most cdu-
cational Of years. 1t is that the prosperity or
the adversely Of great nation like the United
al
cign countries. When everybody In America
was ut work, earning good wages, and pros
pcring In greater or less degree, the buying
powers and consuming capacities OF the colln-
try were at the maximum. The impOrtaiiOnS
of the United States were never greater than
in 1892 Although National industries were
protected and stimulated, and all kinds Of busi-
ness were hourishing. the country WAS never a
better or more trustworthy market for foreign
exporters Under the menace of revolutionary
changes in the policies of thirty years there
has been a shrinkagc Of TIE countrys buying
power and a collapse of its consuming capacity.
All foreign countries are suffering to-day from
the marked decline Of prosperity in the United
States.
That is another Of tie plain morals 10 be
drawn from recent experience. Nothing can
take the place of IL prosperous cOuntry-nctbrr
Chairman Wilson's English theories nor Prcsi-
dent Clcvland's sOcallcd morality in tariff legs-
la,on. 1t WAS National prosperity that made
the American market the best in the world.
1t was that phenomenal prosperity that con
tributcd more than any other cause to pro
mote the welfare Of foreign nations.