Omaha daily bee., 1896-03-05
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IL would be well II public attention
could be diverted for awhile from the
consideration of international issues and
controversies 10 n contemplation of the
practical affairs and questions which
concern the future material welfare of
the American people. ff this were
done perhaps the politicians at Wash
ington would be induced to give more
attention to such matters and would
show more zeal in the effort To provide
the means essential TO the restoration
of confidence and the return OF pros
perity.
We are in the first month Of spring,
when there ought to be exhibited some
signs of what the immediate future of
business Is to be. Is there anything
encouraging in the outlook? There
are some facts in the situation which
invite hopefulness. There has been n
considerable Improvement in exports.
Cotton is going abroad more freely and
Mt a better price than a year ago.
The foreign demand for wheat is in
excess of what 1t was at this time last
year and the price is higher, with every
prospect that still better figures will
be realized by the American producers
This Is due to reduced Russian and
Argentine competition, the wheat sur.
plus of those countries for export being
less than n year ago. There Is also
very much larger export of corn.
The freer movement of commodities
has improved the transportation bust
ness and the railroads have placed un-
usually large orders for cars which
means an increased outlay for wages
in many manufacturing districts. These
conditions are very satisfactory, but
there are others not so. The cotton
and wooden goods industries are some
what depressed and the immediate fu-
ture for them is not promising. Many
mills are operating on short time and
must probably continue to do so until
there Is change In the tariff which
will reduce foreign competition. AS
there is no probability Of this until the
advent of a republican president and
congress no very decided improvement
in the condition of the cotton and
woolen Industries is to be expected
for some time.
There is an abundance of money in
the country, as the heavy bond sub
scriptions fully demonstrated, for all
the requirements of legitimate busi-
ness, but there is hesitation about put
ting 1t into enterprises, and this feel
ing is likely to continue pending the
result of the presidential election, not
the fact that the general
opinion is that the republicans will
elect the president and congress- and
all signs point to that result. The
banks, also manifest uncommon eau
tion and conservatism, the effect of
which Is to retard business recovery.
1t is good thing not to give any en-
to speculative tendencies,
though these are not conspicuous in any
but it is a mistake to put any
obstacles in the way of legitimate bust
ness progress.
How much our international issues
have to do with preventing a restOra- |
ton of confidence it Is difficult to de-
but that they have a more or
less disturbing and unsettling effect Is
So long as there ap-
pears to be danger of war, even with
so inferior power as Spain, home |
capital will be timid and foreign cap
ital will remain where 1t Is. There |
Is every reason to believe that We're our |
foreign relations absolutely free from |
my threatening complications consid |
erable amount of the vast sum of idle |
capital in Europe would seek invest
ment in this country. But the supreme |
question relates to the result of the |
presidential election, and until that is
decided, and in the way that will give |
assurance of legislation in the interest |
IF American industries and American
abor, no very marked general improve