New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-07
THE BETTER OUTLOOK.


General encouragement, is the natural feeling
in all business circles. now that Congress ms
adjourned That body has tried 10 do 50 mnch
harm. and has done SO much. mat the cer'a'nH
If can do no more brings perfectly juSlihaole
sense Of relief The Treasury has aiso oe'h w.
plcnShcd though al wastcful cost SUI" '"' "
serve has been more than doubled since re"'"
ary o. These are important changes III" nav
richtful influence upon the prospects VI ""''
ness They do not remove all diHic"i! ~ ""'
means. but greater hopefulncsS because OF '"e'''
is moi merely natural but in the best SENSE "a'-
raned.
There has not been for years an" i no' wv"
any ground for complaint about the N"i"hc VI
money in circulation. The monthly sG'e"cn'
for March shows that the Voluihc "' ci''u''
tion of all kinds outside the Treasury Is Hi'''4'-
600 600 or SD 10 per capita ana me decrease
i'm The month of February was almost Wioh!
for the purpose of putting more goa INTO 'h'
Treasury. in order TO give soundrr quaint! 10
the paper in circulation. Furthermore 'h're
has been no decrease in February. but an ariuai
increase Of about $I0o.,W0 in the amour, OF I'LL
n,ncr in circulation outside the treasury ho'-
withstandng the reduction of Sl.lfo'ooo III
amount Of gold certificates. The gold reserve
has been bull, mp in this case wilhoni lhNoNihI
large withdrawals Of gold for legal tenders ana
Treasury notes of which the amount IN cirruia-
tion is about S2O0o000 larger Than II was
month ago As vet there is no indication 81 To-
pewcd apprehension. such rs appeared "i'hn
few DAYS after the previous sale az bonds III
large part. II not wholly. because II was Directly
followed by the proposal Of I'll" wildcat STATE
banking scheme Mr. "lcvcand'S message went
in December 3 and within a week the drain "i
gold had begun.
II is moi encouraging thai The appropriations
bv Congress have been large and lavish ch''l!
exceeding III" probable revenue. hui 'h"S" apply
mainly to the fiscal year beginning Win h'A'
,,,,,. and for The res, Of the current year The
expenditures will be governed h! appropriations
already made While these exceed III" proba"'
income. the Treasury has been sufficiently i"rh-
| fed bv borrowing 10 make such loss aS Is HA'N
to occur from dciicIi If rrvcnu" alone '"ihP'I'
lively unimportant for the next f"ur i""'"S'
Nv that time the prospects for the crops "I NV
wear will be- fairly we'll known. ana new comm
tons both aS 10 quantities and rs To- prices VIII
have Influence Withdrawals of gold ri'ner ne
| oouso ~ foreign sales OF securities ~ through
rodomntion of legal tenders will constitui" for
! that period the main possibilities OF miS'1''%
! There is some ground for the belief that III"
c,;ef industries have been waiting for the end
of the session 4 go0l many things were pos
! sjblc SO long rs such Congress as the Ian"
| was in operation. which might have d1st"rpc"
all contracts looking into the fn'n1' mn hcA
| December or January. II so soon. the laws ah'c'
ing industries and finances VIII hardl! p'
changed and this gives opportunity Tor he'rN
two seasons of manufacture under the c"hd'
tons Of competition which iii" new 'afIh mas
created 1t is well understood in most Industries
| by this time that III" changes made Eis' year
| although distinctly injurious. causing imports "i
| 81 600 600 worth OF drygoods sine" January l.
against SlS.0U0.WO last year. are not likely 10
| jnfict so great or such speedy INJURY rs many
feared Even in the voollcn branch the iniiis
find themselves enabled. with reduction 81
wages to compete in a greater proportion "i
goods than many expected. ana white ms S'a''
| If things may be changed when foreigners come
| to understand better the weak points Of the new
tariff /, gives hope That for some time TO coIne
the volume Of domestic business will br fair.
| The extremely low prices " cotton. wheat ana
wool can hardly be expected 10 De modih'd III
once Stocks Of cotton and Of wheat III sigh'
are large enough 10 meet the wants OF home
| consumers and Of the world for some time 10
| come and reports Of material reduction or
acreage have been heard 80 often of late wears
that they may have little influence upon mar
kets until comparativel" late, even If they prove
| well founded The vat increase In supplies 0f
wool from other countries will make such II"
duction as seems probable in American supplies
comparatively unmportant for another year Ill
least. 1t is also possible thai prices of meats
may be- 10 some extent affected by the steps
! taken in foreign countries to retaliate FOR inc
repeal Of reciprocity arrangements. But more
reasonable divcrstcaiion Of crops this year, both
al the South and in the Northwest may prepare
the way for Il more profitable condition Of agii-
culture even under present laws. That Dad
| legislation has wantorly deprived labor of part
Of is wages and earnings. and thrown away
part Of the Nations prosperity is unhappllE
clear. But nation which has been able to add
81 200, 100000 To its permanent wealth in II
single year can do better even with difficult
conditions than other nations not so fortunate
in productive power