The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1895-01-19

The Present State or the Nations Finan.
cial Affairs

clal Affairs.
IL isa blessing 20 weak human nature
that IL has not 20 bear the heavy handi.
cap of forelxnowledge IL the losses
and disasters Of 1893 could have been
foreseen, how frightfully the suffering
would have been increased. IL the
slow and painful half-recovery of 1894
had been foreseen in all its wearying
details, multitudes of business men
would have refused TO face all the risks
OF the year with the certainty OF such
scanty profits A beneilcent darkness
hid from us the outcome, and eternal
hope spurred men 20 employ many
thousand hands during part of the
year with little gain 10 themselves.
No one can know what the new year
may have in store. The most careful
and sagacious estimates In such revolu-
tionary times as these are apt 20 wan
der far from the truth. The root OF
trouble and oftoubt Is that the situa-
| ton is In the strictest sense revolution
airy. The old order changes. Thirty
three years OF steady and unilinehing
protection for homo industries and OF
stort-henrted maintenance of the ma
tional credit end in a reversal SO com
| plcte that no one can guess how far IL
may 60. In general, we know that
1 something like quarter of the ma
tons industry is unemployed Mt this
/ time, and that It's treasury has for
! feited the confidence of the ablest
bankers and money lenders by urging
upon congress policy which, II not
! one of unmistalSable bad faith, was at
Al Al
hostile those whose trust "A borrowing
nation has need 10 cultivate.
So the year 1895 begins with the ma
tons credit lower than 10 has been at
any other time for many years, and
with greater part of its industry I'M
employed than at any time in the thir-
ty-two years 10000 inclusive. From
such state of depression, under tho
natural law OF reaction. some recovery
might with reason be expected. and
the people have done their best 20 as
sist recovery by their verdict against
further prosecution OF the revolutions
airy policy. But no one can know how
far the continued agitation during tho
present session of congress may under
mine business or how far the new
duties on woolens may embarrass
those American works that are still in
operation, or how far the distrust OF
the governments financial policy may
drive gold abroad. We are all in tho
dark, and probably il is blessing
that the future cannot be accurately
foresecn.
At the foundation OF nll our indus
tries is agriculture, ond its prospects
for the coming year arc not entirely
cheering. With fifty-ccnt wheat and
five cent cotton production of those
great staples would naturally be much
reduced, provided there were afforded
other satisfactory employment for
farm labor. But prices OF meats, Of
vegetables and the minor grains, Of
wool and tobacco, are not such rs TO
encourage large expansion of growth.
The farm Is a machine which can only
be made profitable by raising some
thing 90 sell, and the American farmer,
ever since the decision 60 change tho
national policy in 1892, has been con-
fronting the least remuncrative prices
ever known in this country. Then fol-
lows the inevitable consequence, which
so many statesmen overlook, that tho
AAltIhtllNAAthAt VI AiA0hnAlANN hANNo-
sarily denies prosperity to the manu-
featuring producers when half the peo-
Pile, directly dependent upon agri-
culture, are forced TO restrict their
purchases.
The picture would not be true 70 lifo
IL IL were not somewhat somber. Yet
IL does not alter the fact that the In
calculable rccupcrative power and
practical good sense of the American
people form, after all, their greatest
resource in every emergency. Men
talk Of unrivalcd natural gifts as II
these were enough 20 insure prosperity
for nation OF dolts. 1t Is not ncces-
sary 20 20 SO far. Two years have
shown what botch n nation OF dem
ocrats could make OF the wonderful re-
sources which, only two years ago,
made this the woodworking nation
Of the world. Sad and hard experience
has brought light 10 many. The peo-
pie have started distinctly and reso-
lutely upon n more rational policy In
what form and how soon IL will find ex-
preston, how long industries and trade
may anguish in doubt, cannot be pre-
dicted. But the man who knows the
temper OF this great nation has deep
conviction that millions OF Americans
will not long suffer their prosperity TO
be stolen from them by the dominance
OF hostile foreign theories, and will
find way 20 make their will felt and
obcyed even by the present admins
tration. The millions know, II the
time-serving politicians do not, that
they can get full and fair employment
FOR all their labor, and prosperity
greater than has ever blessed any other
land, by returning TO the national pol
icy which they enjoyed In 1902. II Ia
for the good people themselves 10 find
a way TO make their wishes needed. =
n. Y. Tribune.
PRESS OPINIONS.
q 4 \ :.