Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1894-10-11
Philndelnhia Ledger. Oct. 4.

Philadelphia Ledger, Oct. 4.
The improvement of business copdi-
tons can be no longer successfully dis
puted; it is so general and so manifest
as 10 render ridiculous those unscrupu-
lous partisan organs which, closing
their eyes to the truth, continue to
ignore it as if it had no real existence.
The leading financial and trade journals
of the country, those the special mission
of which it is to present for the lnforma-
ton of their readers the most accurate
statements with regard to the state of
finance, manufactures and commerce,
give the most gratifying reports of reviv-
lug activity. The principal daily news.
papers OF the great cities and the centres
of trade, among others the New York
Tribune, which has been persistently
employed latterly in efforts to roll back
the advancing tide Of mercantile vigor
by representations of continued de-
preston, have recently devoted entire
pages to the reports of the representa-.
tives OF the chief business interests of
the country, which clearly show that
tine improvement during the last month
has been certain and material.
Dispatches and correspondents from
all parts of the country tell of the re-
vival of industrial enterprises; of works
which have been shut down resuming
operations; of others, which have been
| operated on reduced time or with
lesser number of operatives, running
upon full time and with an increased
force of employees and of capital pro-
viding new plants in all those indus
tries which are as props and pillars of
mercantile success. The great trans
por.ation companies, which probably
suffered as much as, or more than any
of the representatives of important
business interests during the late pro.
longed period of depression, are daily
showing the assured increase of the
volume of business. The statements Of
the banks in all the large financial cen
tres are equally satisfactory as indis.
putablc testimony to the return of
prosperity.
That valuable epitome of trade condi.
tons as they prevail from week to week,
month to month and year to year, Brad
streets, has given in its latest issue u
record of the failures of the present
year, The total number is 0251; the
amount of actual assets, $59,707 ,031--
the liabilities being $110,614,03 The
difference between 1893 and 1894 is a
notable one. During the corresponding
period of last year the number of
failures was II ,140, with assets amount
ing to 1927 ,373,231 and liabilities of
1927 ,275, 100. This showing is signiti-
cant, rather as contrast with the
liabilities, than the failures, as, although
! there was difference of about 1000
only in the number of the latter, there
was one of nearly two-thirds in favor of
1894 in the matter of liabilities. There is
a very notable feature of this matter
which should be regarded as interesting
and instructive at this time. when the
partisan organs in their desire to get
votes, even at the sacrifice of the com
mon welfare, declare that the new
tariff and mercantile ruin are virtually
synonymous terms. During the like
period of 1891, when the former tariff
was in successful operation and the
time was considered most prosperous,
the failures were S,S6S; the assets in
volved, 81 ,S1l 800, and the liabilities
$l3S, ,5M. The number of failures
was less in that year than this by nearly
400, but the assets involved exceeded
those Of 1894 by more than $l2,000,00O
and the liabilities by more than $2S,.
100000.
he Mckinley tariff. though based
upon the wholesome and essential prin.
ciple of adequate protection, was not a
perfect measure. 1t had great and Ger,
tain defects. The Wilson tariff is more
seriously defective, in that it denies
adequate protection to some important
industries, with the effect of denying tc
capital the earnings to which it is Justly
entitled, and to labor fair wages; but
all save those who refuse to recognize
the truth freely concede that it is, in
unexpectedly great degree, a protective
and not mere revenue measure, anc
that in Its operation, though it may in
iure, it will not entail ruin on American
capital and labor. And it is to be taker
into account that, whatever its defect
may be, they are now pretty we'll known
and their consequences fully anticipated!
Men of business have already mea
) surably adapted themselves to the
changed conditions, and they will con
, tinue to do so, having the assurance
that for at least three years, under M
possible circumstances, can the new
0 tariff be materially changed for tn
! worse. Indeed, many of the shrewdcs
Of the business community confident,
believe that for many years there will b
5 no radical tariff changes. Those whicl
) have been made were scarcely more in
c furious TO the trade of the country thai
: the long delay in making them and til
4 prolonged uncertainty us to what NOR
+ detrimental ones might possibly be made
l When the Republican party snail b
) again returned opower it will wiselyanu
Q justly correct the errors of the Wilson ac
= but it will not at all be likely to entirel
5 oyerturn it, US months would be require
!, to do that, and the doing of it woul
r disturb and distress business by upse
i ting all established conditions. Tari
revision hereafter, it is believed, will /
# made with due regard to the interests
1t trade, and not in absolute disregard
them, as was the case during the Ion
|. and disturbing contention over the Wi
o son bill.
G The community of business now ha
It that assurance OF stable conditions whic
v will enable it to put forth its strengt
Of enterprise. II is already putting
C forth and is confuting day by day, b
its activity, the false cries and alarms {
h the partisan prophets of evil.
=
G IN EARTHQUAKE Ar SCI.
e The Remarkable Experience Reported b