Bismarck weekly tribune. [volume] (Bismarck, Dakota [N.D.]) 1884-1943, 1894-03-30
LEAVING DISASTER BEHIND.

AEAH1NU Ev4SAS1EN ~.
Clews weekly financial review sets
forth a number of of reasons from which
it argues the returning prosperity of tbs
country. 1t will be pleasing to every
one, should these arguments prove
sound, and the return of prosperity be
fastened. Clews gives the reasons, as
follows:
l. Confidence is certainly reviving. Bust
ness is slowly but surely emerging from
the distress brought on by the silver crisis
and previously prolonged by tariff agita-
ton. Stocks of merchandise have become
so exhausted, with few exceptions, by pro-
lOnged curtailment of production, that I'M
iversal resumption at the mills will be
imperative as soon as the tariff fright is
over. Outside of the tariff question. the
manufacturing situation is exceptionally
favorable, because wages and materials
are lower than usual. and the cOnsumptive
abilities of the country have not been i'm
paired in any such degree as its produc-
tive abilities. The business situation may
be dismissed by the simple statement that
it is exceptionally sound and improves
daily.
2. Easy money is assured tor months to
come. Rates are extraordinarily low, and
there are no immediate prospects Of better
rates. Even the approaching April settle
ments, usually a period of disturbance, are
attracting no attention. ms question OF
easy money is an important factor, because
1t not only facilitates speculation, but in
the long run encourages the demand for
interest-paying properties.
8. Several immense properties are still
undergoing the process Of reorganization,
the first effect Of which will be to greatly
strengthen the railroad situation. Such
CaanrifipS Qrn ncnolIV concentrated in
strong hands, or are at least very firmly
held for better prices.
4. Decreases in earnings are steadily
growing smaller, and the earning power
of the railroads soon promises to expand
from the revival of trade. By great econo-
ments, net earnings have been remarkably
we'll sustained; and the fears Of reduced
dividends, which warranted the earlier de-
cline in values, are slowly disappearing.
The reports of rate cutting and the OPEN
ing of navigation have had a slightly adj
verse effect: but these are elements always
met with about this season.
8. Small gold shipments have occurred
thus far; and at the moment no heavy out
flow seems probable. This will be assuring
to those who are apprehensive on the sub
lect; though as a matter of fact our banks
could readily spare round amounts with
out any inconvenience. In fact, were the
oANCA QuCotlOu OuU VI olRHe l1OCIol ClAuA
would be welcome to lenders through the
stitfening of morning rates that would
follow.
s. The vote of the Bland bill will prob
ably settle the silver question for good, so
far as this administrator is concerned.
This is not only the most important but
the most encouraging feature Of the whole
situation. 1t will not only restore conf
dence in the ability Of the government to
maintain its obligations on a gold basis
but it will again restore American credit
IN a high plane the world over. A veto of
the Bland bill will do much to counterfeit
the effects of tariff changes, which have
already done their worst.