The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-11-23
RETURNING PROSPERITY.

Some Popocrat papers are pointing with
I-told-you-so satisfaction to the fact that
the daily announcements of reopening mills
and factories are not as numerous and
other evidences of reviving prosperity not
as marked as they were during the first
week or ten days after the election. They
are saying the artificial Mckinley boon.
has already spent it's strength, that it was
like a summer torrent-violent but brief
and that business is fast settling back into
the old condition of depression ana paraiy-
SIS This is far from the truth. 1t is true,
indeed. that the indications of returning
prosperity which began Immediately after
the election have not kept up the average
of the first few days. That was not to be
expected, and would have been impossible.
Nothing was ever seen in this or any other
country at all comparable to the Immediate
restoration Of confidence that occurred the
day after the election and the evidences of
reviving trade that appeared in all parts
Of the country. So far as the restoration
of confidence is concerned, there has been
no abatement. 1t has come TO stay, and
instead of diminishing it increases every
day. But it would have been most UNI
reasonable to expect the evidences of reviv-
ing trade to continue at the rate of the
first week OF two after the election. There
was an exceptional cause for the immediate
resumption of many mills and factories in
the great number of orders which had been
given conditional on the election of Nc
Kinley. The giving of such orders showed
the feeling of those who gave them regard
ing the prospective results of the election
of Mckinley or Bryan, and the fact that
mills and factories which had been closed
for weeks months began to start up
within twenty-four hours after it->was
known that Mckinley was elected showed
that manufacturers also regarded it as a
turning point in affairs and were willing to
resume operations on the strength of orders
on hand, trusting to the future for more.
This accumulation of conditional orders
constituted an exceptional stimulus to man
ufacturing activity. the effects of which
would be seen Immediately. but, in the ma
ture of things, could not be expected to in
crease very rapidly. Some of these orders
were large enough to take quite length OF
time ID fill. and before they are filled other
orders will haze been received. But that
exceptional cause Of the revival of business
has about expended itself. Probably all
the mills and factories which held them
selves in readiness to open up the
strength of conditional orders or of business
in sight did so within a few days after the
election. After that there would naturally
be considerable of a falling off in
nouncements OF that kind. but that does not
argue any falling off in prosperity. None
of the mills or factories which started UP
during the first two weeks after the cleo
ton have closed, and more are starting up
continually. The daily average Is not as
great as il was at first. yet business is
Improving all the time. r. G. Dun & Co.'s
weekly review of trade on Saturday said:
The gain in volume of business continues
entirely without precedent. More than $50
establishments have started work since the
election which were idle and at least three
hundred have increased working forces.
making 690 concerns which are known 10
have added largely to the number OF hands
AT work and these are only part of the
whole number. Every day thus adds thou
sands to the number of those who are able
up gradually for many months OF enforced
economy.
After all. the best assurance or better
times Is not in the number of establish
ments which have started work since the
election, though this Is an important fea-
ture but in the restoration or confidence.
which insures a steady. progressive and
healthy revival of business of all kinds as
rapidly as the country can adjust itself TO
the new condition. What was needed above
everything else was the restoration of
confidence The free-silver agitation, the
threat of q debased and fluctuating cur
rency and Bryan's vicious candidacy had
destroyed confidence to such an extent that
any revival of prosperity was impossible
while that condition continued. If Bryan
had been elected it would not only have
continued, but would have been immeasur-
ably aggravated. The election of McKin-
ley has introduced conditions under which
the return of prosperity Is absolutely as
sured and. while it may not come all al
once or maintain the pace Of the first few
days after the election. it Is none the less
sure to come. Let US labor anG wait, have
confidence and be patient.