The times. [volume] (Richmond, Va.) 1890-1903, 1895-04-16
TUESDAY APRIL. l6, 1895.
THE OUTLOOK.

tinue. The New York World puDhsneu
On Sunday interviews with leading men
I'm almost every department OF bnsih'sS'
and without exception they represent
conditions as hopeful and improving Tx
Senator Warner Miller very large
manufacturer OF paper, said:
'"rhere is no doubt about IT, There IS
q rcal and widespread Improvement III
general business. base TINS assei''oi
i,non the advance which / have noticod
IN The paper business. POSSIBLY you nave
never thought OF II In that lsh| put
the paper trade Is. perhaps, the most
sensitive business barometer IN e~istch.V'
No transaction whatever can wei re
contaminated without the consumption OF
paper When business Is good, there u
demand for enormous quantities OF Dill
heads, checks and drafts, Ieccip's'
bills of lading. letter paper t-ies ,Sph
blanks. paper for the parcels IN when
goods sold AT retail are packed, and so on
advertising Is always oest when there
is plenty of business. and mat iitPhs
not only more pages In the newspapers
but the printing of hundreds OF hand-
bills. and many other kinds OF ad'cfts-
Ing paper The circulation OF COWS
papers is also much better in good times
than in bad times. AMI whenever general
business is good thea the consumption OF
paper in ell lines is great. Whcn gen
eral business begins 10 fall OFF. paper
sales must decrease in direct rae
AT the present time. We hnd biert-
er demand for all sorts o: paper than we
have enjoyed for a year OF Two, and the
manufacturers and dealers arc enabled,
because of that, 10 dem nd ard obtain
better prices. 1t is my Judgment, That
the improved condition OF things .hus In
Dictated is healthy. and likely to increase
and the very fact that There IL no loom
should be considered "A good sign
This is one of the very best indcai ems
POSSIBLE. The President Of the Lincoln
National Bank, eX-rostnas' cr-'ierera
Thomas L. James said
There is moro demand for money. and.
I'm my Judgment, business generally has
assumed healthier tone dLirg the
past few weeks. | look fer s;eLdy
and continued increase in the volume of
business. though not rapid one. Rates
OF interest and discount are n little high
er. though not TO a burdensone {, ter I.
and bills are being paid more promptly,
10 the great JOY ard comfort OF Cycy-
body. An interesting fact - ttat, IS
observe T.. business Is now better in the
south than I'm the West Money is not
a drug anywhere. and that Is .''ihaps
the most hopeful sign # all.
This suggests the most diniorlt areu-
ment that the advocates Of free silver
have ever had TO deal with. and we have
never yet known any OF them TO
srapple with It. They say that the de-
monetization OF silver has made money so
scarce that the pric of everything have
gone down to almost nothing. Yet the
banks have been bursting with money
that they could not len1. and the interest
on money has been lower than anything
else. How can money be scarce. if the
vaults of the banks are full OF money
that can lind no employment. and interest
keeps down lower than It was ever known
10 be? The free silver people never weary
OF saying that silver has been demone-
tizcd, when II has not been. The most
advanced nations have ceased coming sill
yer. except for subsidiary money and
change. but they have lett every dollar
OF silver money tina. ever was In exis.-
cnce still money. with full legal-tender
power. except that Germany melted down
about Si5Oop.coo Of hers, and sold it for
bullion, but the United States ADDED
s500oO900 of silver to hers.
We repeat then. that we cannot UNI
derstand how there has been any DIM
mutton OF money. and We cannot I'M
derstand how money has become scarce
when 1t is the cheapest thing N the
market
Russell Sage. ESQ., stands pre-eminenuy
before the people OF the United States
as representative Of the philosophy
that does not care what happens. 70 1t
does not happen 10 him. itlt we Ltver
heard any one speak OF him as I, cl,
however. His remarks on the situation
are well worth attention. lie SAD:
Il feel encouraged do not look for
anything very startling. TO be sure. but
am sure the facts warrant a certain de-
gree OF hopefulress. The winter and
spring have been OF such character
as TO promise good crops. Upon this pro-
mise business will improve ell summer,
and unless something untoward happens
IN the mean time am sure there Will be
yet better things In the autumn
In the mean time railroads, merchants
and all sorts OF business men should be
careful not 10 let the spirit Of COMPETE
ton lead them 10 a reckless cutting OF
rates and prices Some OF the merchants
IN New York, whose stores | have re-
Gently visited. have been selling their
Eccds at figures much below the mark
at which prOtt rs possible. railroad
freight rates in some instances have
been cut down TO point al which II Is
actually impossible 10 pay operating ex-
psnses. let alone the interest on obhga-
lions and dividends
These things are unwisc. aud IL con-
!nued too long would lead 10 s,ll fur
ther dcclcnsion Of values and stasnation
81 business. but 1 believe the pres mt up
ward tendency will check all this and
that prices OF goods. rates OF freigh, ana
xages Of working people will all 70 up
IN the autumn. II must not be forgotten.
however. that this is an era OF great
compeution, and whoever wishes to pro-