Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1895-08-28
Why Good Times are Coming.

Thus, comparing the business FAILURES
in the United States for the six months
ending June 80, 1898, the panic year,
and those for the half year ending
June 80, 1895, the liabilities are found
to have decreased from $170, $3.50, 222 in
1898 to only $79,705 ,S61 in 1S95-the
figures being Bradstreet's. Such an
enormous diminution in the indebted
ness of insolvent houses naturally in
dictates not only reduced losses but a
more confident condition of business.
Again, the facts connected with the
production of iron in this country are
encouraging. On July last, according
to the Manufacturers Record, the
weekly capacity of the furnaces in
blast was thirteen thousand nine hun
dred and seventy tons greater than it
was on June 1 preceding, an increase
of nearly nine per cent in one month,
Notwithstanding a very marked rise in
price. 1t is also stated by the Iron
Age that during June the consumption
ran ahead of the production by more
than one hundred thousand tons.
Turning to the textile fabrics, the
american Wool and Cotton Reporter
records the starting of two hundred
and one woollen, cotton, knitting, silk
and miscellaneous mills in the first six
months of 1895, as compared with only
one hundred and sixteen during the
same time in 1894. AS it is we'll known
that there was large increase in the
cost of both cotton and wool between
the periods named, these new mills
would not have started had not the
prospect of profit on enlarged sales OF
manufactured product been clearly
apparent.
It would be easy to give many ad-
ditional evidences of growing conf
dence in the business outlook. There
is never any doubt that good times in
evitably follow hard times. The only
question that makes people uncertain
as to their course is When do the
good times begin? When once ma
iority of business men believe that the
tide is flowing steadily toward pros
perity they act on that belief, and
thereby greatly accelerate the move
ment. Enough has been shown to
prove that that is the present con-
dition of affairs in this country.
Among the great factors tending to
bring back good times the practical
certainty of a great corn crop is one of
the most potent. 1t is far more i'm
portant than great wheat crop would
have been. Wheat is a debt-payer.-
The farmer sells it generally at one
time to clear off a mortgage or to pay
for improvements or machinery. Corn
through, and the farmer spends its
proceeds for the necessaries and luxu-
res of life. Consequently a large corn
crop means steady purchasing power
all through the West and parts of the
South. This alone will keep business
active and profitable on a sure founda-
ton.
For the price of manufactures gen
orally to -day is SO low as to encourage
buying. There never was time in
the history of this country when dol
lar would buy more than it will to-day.
The necessaries of life are food, clothes
and shelter. Materials that go into
buildings are not at their lowest point,
but they are very cheap compared with
averages in the past. Clothing is prac-
tlcally at bedrock figures.
Meat is as low as it has been in thirty
years. Breadstuffs are away down.
Coffee and tea are no longer luXuries,
because their low prices have brought
people to consider them necessities.
Sugar has never cost less. 1t is not
so long ago that only eight or ten
pounds could be had for a dollar. AT
that time leading sugar refiner said
that if he could make an eighth of
cent a pound on refined sugar he would
be perfectly satisfied. Yet to day,
though the refners are undoubtedly
making a good deal more than that
eighth, they are selling nearer twenty
five pounds for dollar, and their out
put has been enormously increased
The course of sugar is illustrative of
many other articles whose price has
been reduced and whose consumption
has been multiplied by ten.
Finally, the United States has no
serious difficulties in sight. At peace
with all the world and likely to remain
so, our people can hardly get up q
quarrel among themselves. The silver
question was bugbear for time, but
the indications are that it has spent
it's force and will not again threaten
the stability of our currency.
Under all these circumstances, is it
too much to say that the good times
have actually arrived