The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-09-09
AN ERA OF PROSPERITY
The New York World in reviewing til

The New York World in reviewing the
business outlook says:
In our age OF machinery iron is the in
dex of business prosperity or depression.
The southern iron producers have again
increased sthe price of pig by so uents a
ton and are unable to fill their orders
even at the advanced figure. They have
made another advance Of s per cent
in coal miners wages, which makes
total increase OF 81 per cent since June
1st. This benefit affects about 10. 600 men
directly and the whole community IN
directly. As the supply of labor is still
insufficient to meet the demand further
wage advances are expected as a means
of attracting laborers.
This is an illustration merely of the
general condition of the iron trade, and
the iron trade is the basis of all business.
Dun's Review reports general and
rapid improvement in markets and
prices in all directions, and says that sit
has coms.now to be the only question in
what branches, il any, the rise in prices
and the increase in business may go too
far.'
Another high authority notes almost
phenomenal improvement in the sales Of
dry goods. clothing. boots and shoes and
other staples which tne country buys
freely when prosperous and scantily when
reverse conditions prevail.
Still another recognized statistical
journal computes that more than 1,000.-
600 wOrkmen have had their wages adj
vanced by 10 per cent or more within the
last three months in spite of summer
dizziness. The effect of such an advance
in quicKsning retail trade and improving
the condition of small dealers scarcely
needs pointing out.
The time is now at hand when the
crops of the year must be marketed.
Those crops are enormous. Corn. as we
have before reported, will yield more than
two billion bushels, worth more than
81, Ill. 100000. Wheat will give smaller
yield than last year, but the improve
ment in price promises more than to
make good the shortage. The cotton
crop is smaller than last year, but the
price is about 66 per cent better, and
there are more tndn 5000. 900 bales of last
We have in fact more cotton to sell than
ever before and at a much higher price
than last year.
Railroad earnings everywhere indicate
Improved business. and while there is
still glut of money in New Y ork there
are indications throughout the country
of continually improving business.
Finally, there can be no doubt that the
establishment OF faith in our finances,
and especially in our monetary unit. has
restored foreign confidence in American
Investments to an extent which will
make our exports OF securities this fall a
scarcely less i'm portant factor in national
prosperity than our enormous exports of
produce.
If congress when it assem- bles does not
deal some wanton blow TO the national
credit. we are at the beginning of an era
of prosperity unequaled since that which
followed the passage of the tariff of 1916,
when industry was freed of its shackles,
trade encouraged and the people relieved
Of an incubus OF unnecessary taxation.
All this. directly and indirectly, affects
California. Good times in the eastern
states not only gives a broader market
for orr products at higher prices. but the
prosperity of the eastern people reflect,
itself in increased travel to California
To come to the more direct benefits. tn,
prospects for increased crops in Southern
California are good and the light orange
crop Of Florida cannot but result in bet
~ prices for our oranges, while falling