The herald., 1895-04-15
,oor Richards Daily Sermon
THE BREAKING OF DAWN

The night of adversely that has envel-
oped with gloom the industries and
finances of the Union the past two years
is fading away before the rising sun of
prosperity. From all parts of the country
come tidings of resurrected confidence,
reviving trade and eresuming industry.
Capital. restless after long inactivity, is
seeking employment, and merchants with
diminished stocks are crowding the mills
with orders. The manager of local
branch of one of the greatest manufactur-
ing concerns east of the Rocky Noun
tains has recently returned from widely
extended trip east and states that he
found many establishments running over
time in order that the material for re-
plenishing the depleted stores of the
country might be expeditiously furn-
ished. An immediate and gratifying re.
suit of this resumption of manufacturing
activity has been the advancement of
wages notably in the WOODEN mills.
Many of these advances have been vo lun-
tary, very substantial evidence that en-
ployers believe in the permanency of the
improvement. Cotton wooden and leather
goods of nearly all classes are meeting a
ready demand at advancing prices. The
corn and wheat regions of the country have
had beautiful rains and a plentiful crop
of staple agricultural products is assured,
thus promising liberal contributions to
effect of the large agricultural yield will be
a heavy railroad traffic, calling for the
repair of existing lines and stimulating
the construction of new roads, which
means. of course, a demand for labor.
The indications of more railroad traffic
have already noticeably affected railroad
stocks in the New York market; the lat
ter being in touch with every nook of this
vast country is instantly responsive to
the vicissitudes OF railroad business.
There has been for the last three weeks a
along the line i'll the stocks and securi-
ties of the roads that are in competent
hands. The New York market has also
in the last few weeks witnessed re-
vival of foreign investments in gold bear
ing bonds and the speculative stocks.
Governmental financial conditions seem
also to maintain a more satisfactory CON
dition. While the late decision inyali-
dating certain portions of the income tax
law may disturb calculations, the tariff
receipts are beginning to meet cxpecta-
healthy state produced by the last bond
issue. In connection with the latter sub
lect it is worthy of note that no gold has
been exported since the last bond issue.
This would warrant the belief that the
gold buying syndicate is carrying out in
good faith the covenant exacted bv Presi-
dent Cleveland. that its influence should
be exerted to prevent the withdrawal of
gold from the United States treasury for
export 1t is now nearly three months
since the last gold purchase, and in the
natural course OF trade the gold will soon
begin to turn our way. The treasury state
ment Tor March exhibited net increase
of the money in circulation during that
month of 49, 90. ST.
The treasury officials estimate this to
mean an increase of ten cents per capita
for the thirty days and total per ca,ita
circulation at the close of the month OF
$50. The bank clearings, always Il re-
liable indication of the ebb and Gow of
the business tide. have for the last six
months shown an increase compared with