The times. [volume] (Richmond, Va.) 1890-1903, 1895-06-27
rr WAS DUE, 10 MI. CLENELANpS
GEIAI A(1.

.
GREAT ACT.
The philadelphia Times says. the ne"
,a,,of ,s enecting a restoration that mas
closed no occupation save that Oh '''
bowler" 1t thus shows what the ne"
tariff bill is doing
"since January Bessemer pig-lroh III
pittsburg has advanced from Sl'Y' 80,
ton 10 xl25O: steel billets commahueu '" cc'
S475. and to-day they market az
sray-forge pig bar IS no" "oi'n a.
and the best refined bar IRON h"' me
ereascd 10 SIS. an advance OF 800. nv
80 ~ labor have improved In IKE
decree and all this under the ne" 'aiH''
me record Of advancing wages goes Oh,
however growing larger each Week anu
tho snectacle of voluntary increase -
ra0ldly becoming so general as 20 ha'e ~
parallel in industrial history. ne pa.
week ranks better than all. fu's",s
rates at Pottstown were aoNa,.'u
cents per ton, to take erect july oln, III.
T.ackawanna Iron and steel Company a'
scranton. grants a 10 per cent increase.
which ia equivalent to paying out >'O'vp
more 2 month 10 its 900 employees 'he
reading Iron Company serves nouce Vi
a n nor cent increase; the Conshohochch
roilinp-rnflls workers. 1000 in number gam
a u per cent. increase; the crane iio"
Works. at Allentown, posted ~ pei
cent. notice. and the BIRD Coleman luI,
mace al Lebanon, idle for two years, WIN
atar, M today 1h!s IS part OF the
eboro FOR Pennsylvania in a single week.
"In the country at large, there Is
nerfoct shower of gains, confined 10 no
| snecial section. The railroads are pidc-
ing heavy orders for steel rails, ana the
baltimore and ohio has decided to issue
| tho usual 3 per cent. dividend on us
| preferred stock While the Illinois steer
! Company. at Joliet. allows a 10 per cent.
| Increase. the Belmont Nail Company AT
\ Bellaire. Ohio. employing 1000 men. al
! iov-e n second increase Of 70 per cent, and
n 10000 piate-mill Is to be erected there
prom Milwaukee, Cleveland, Lewiston
Cohocs Johnstown. Buffalo, and other
| centres. comes the same 10 and ~ per cent.
increase-in-wagcs story. The udc IN all
| channels Of business, trade, anu manu-
| factures has indeed turned, and II IS run
! ming hris1ly: so much so that lhe re-
| caritu!ation shows that since April mort
! Than 800 manufacturing Establishments
! $50 Voluntarily increased the wages Of
! fIlv p0o90 worl,men. There Is time for
| even the calamity-howler to get IN the
swim"
This picture is undoubtedly tinctured In
2 slight degree with the couleur de rose.
But existing and growing conditions GER
tainly Justify its main lines and strongest
hucs. We are not prepared to admit tha'
all the philadelphia Times has Pointed
out comes from the new tariff bill though
we feel satisfied that whenever ii re-
duced a duty. IT did the country al
enormous service. But we believe tha'
our rising prosperity owes more to the
contract that Mr.. Cleveland made viii
the Morgan-Rothschild syndicate than t'
any and all other causes combined. Nhen
that contract was made at the begin
ming of February, the civilized world wa
thoroughly alarmed lest we should no
be able to maintain the gold standard
our gold was being dragged out OF TN
Treasury. and exported or boarded a
fast as we put it there. In the month o
January last 100000 were taken out o
L. Treasury But the Morgan-kaths
, child contract was announced in the be
ginning of February, and the drain o.
the gold came to a Peremptory end. sine
that II has amounted TO literally nothing
and gold has actually been given IN
| treasury
The announcement of the terms of thi
, contract re-established confidence as If b
p magic. People saw hat, with the FIFTY
third Congress dead and this syndica'
undertaking to protect the Treasur
= against further raids upon its gold, ou
e credit was perfectly safe until the neA
l Congress came into office. Conhdeno
1 was therefore, restored at once: me
saw that they could go into enterprise
assured that the word dollar woul
. mean the same thing at the end of
: transaction that it meant at the b'
10 ginning; they took heart, and they con
G menced to do business. The great il
4 crease in the country's prosperity is dt
y to that. No executive officer ever per
u formed a service Of greater value to
people than Mr.. Cleveland performed whe
I he effected the Morgan-Rothschild cor
D.. tract.