Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-06-24
CONSERVATIVE VIEWS
Expressed by Gold short on the I'm
proved Iron and steel Situation.

Expressed by Gold short" on the I'm
proved Iron and steel situation.
Mr. Carnegies letter, or Interview,
has a ringing tone and indicates that
his faith in the future is earnest and his
confidence in the permanence Of the
Improvement, now going on, is thor
ough. Mr. Carnegie Is good authority,
but is not the CHASING of the coming
season of prosperity, as, prospectiyely,
the greatest ever experienced, putting
1t rather strong and is it not rather pre-
mature? II may prove to be just such
season as Mr. Carnegie predicts, but
ali the traces Of the very recent deprcs-
sion VIII have to disappear and the
scars inflicted by its operations will
have to be erased, before prosperity can
rise to high tide; and those PrereQui-
sites cannot obtain sufficient presence
to obliterate memory and apprehension
in a few months.
Mr. CarneRie's words ere cheering
and we'll calculated 10 promote conf
dence. butIti sQuestioned whether he In
tended them to be taken literally. Pro
gress that is quick almost to raDlGity,
is seldom stable, because haste and wise
consideration are not associates, and
progress without careful consideration
of the outlook before every advance
movement Is made is not prudent Or
safe Il is 10 be hoped that MIR Carne-
gle is Q prophet that will Gain honor IL
his own country, through the veriiica-
ton OF his prophecy; and II IS also 20
be hoped that the effects Of the coming
good times viii not be so largely alb
aOrbed by combinations and syndicates,
that individual and ordinary operators
Will have to diet on skinned milk.
Prosperity means general progress and
success. but the success of few, gained
more by the exclusion Of the many
than by the thorough diffusion OF oppor
tunities of like character and grade, IS
q mockery.
The objection TO such glowing fore
casts is that they mislead the people
into the forming Of eXtravagant ideas
and the making Of exOrbitant demands,
and this year has not been cut out for
excuses of any description. This is
going to be q good year. some OF the
losses will be retrieved and 4 measure
of forfe.tures Will be compensated for,
but there Will be no swapping off Of tho
nickels now In possession for gold dol
lars during either this or the following
years. Moderate paced progress, with
evenly distributed opportunities, pro-
vides stable prosperity, and this IS the
kind we want; all the indications point
to this order OF prosperity and eli the
promoting influences favor >, ADVANCES
-.
direct and certain evidences Of perma-
nence. continue These, like the re-
ductions. of 1893 and 1S9l, are more
humorous In the Eastern and Middle
States, the centre Of the manufacturing
regiOn. than they are in the West and
South. but they are seen everywhere,
and In all the leading lines OF industry
and activity. Apparently the aggre-
gate industrial output Of the country
is travelling toward that Of 1892, be-
fore the panic was in sight. This en-
ccuraglng condition is reflected in the
railroad earnings. which are going up
toward the points touched in the past,
notwithstanding the crop shortage OF
1894 and the reduction of the revenue
from this source. The treasury situa-
ton also is. on the whole, quite favor
able. Deficits continue, and. for the
year which ends on June Both they will
probably be about $4,000 600 which
Will be only a little over two-thirds the
amount in the fiscal year which ended
eleven and a half months ago. The
gold fund IS about 100000 below the
500. 600. 600 line, and as the bond syn
dictate which Is taking care" Of It has
$4,000. 900 yet to contribute Of the $685.
100000 it was 10 furnish, there is a
strong probability that the reserve will
be kept up to big figures until the reg
ular fall gold importations set in, when
the reserve may be relied on to be abba
to hold its own without any outside aid.
Ohio Valley Manufacturer.