The Portland daily press., 1896-10-08
BETTER TIMES CLOSE AHEAD.
Confidence Returning, Business Prospect,
Brighten.
(The Iron sAge, Oct. ~

I
An enterprising merchant few days
since headed al attractive Advertisement
with the following words: "Only
thirty five days to the dawn of prosper
ity. Buy now while panic prices pre-
vail" The combination of prediction
and advice TINS given fairly represents
the feeling which Is now prevalent
among business mon. The Respondent
uncertainty of July and August has
given way to the beginning OF the re-
esta blishment of confidence, which may
be expected to develop, now that it has
again shown itself. Lines that have
been dormant are awakening to nav life
Works which havs resumed operations
with barely enough orders to insure a
run of week or two have been picking
up more business, and stronger hopes are
being entertained of continuing In regu-
lar operation. The financial situation
has shown marked improvement dur ing
the whole Of September, and the various
speculative exchanges have shown at
times considerable buoyanoy, to which
they had for long time been strangers.
Prominent in the improvement is the
stove trade. A gratifying resumption Of
activity in this branch has occurred
within the past fortnight, prior to which
the outlook was dismal. Foundries
which had been preparing for the fall
demand had either shut down entirely
or were running on reduced foros and
only part time Warehouses; were full
of goods awaiting shipment, but old
orders had been cancelled to great ex-
tent, while practically no new ones
were being received. But a decided
change has been experienced, and lively
demand has get in. More than one manu-
faoturer, in the short time, since the re-
sumption Of activity, has sold more
sroveasthan he cared to dispose Of under
existing circumstances, as apprehension
still prevails that collections may be
slow for some time to come and that
those who sell too freely may have cause
to regret their expansion Of credits.
A larger movement Is also observed in
other manufactured products of general
consumption, more particularly in those
for which this is the natural trading
season. The demand has In some in
stances developed badly broken stocks.
Mills and factories have been running
SO irregularly that full assortments have
not been turned ont In their regular pro-
portions, aud Inconvenience is quite
often experienced In endeavoring to get
just what IL needed. AT the Same time q
plethora may exist OF other sizes, which
are offered ut extremely low rates In or
der to move them as soUn as buyers are
saen to be in the market.
Evidences of returning confidence are
manifested in peculiar ways. Not long
| since q request for the insertion Of gold
clause In contract caused extreme irri-
tation and was quite frequent ly assumed
to be a meth cd Of coercion by gold advo-
Gates to Affect the political Views of their
customers. But latterly buyers are
signing gold notes rathera oheerfully,
| stating that they felt assured of the con-
| tinuanoe Of the gold standard and there
fore apprehended no difficulty In comply
ing with the requirements of gold
| clause at the maturity of the contrac,
after theFpresidential election. Higher
prices ere also being asked on numerous
commodities when deliv cries are scat.
terded and extended beyond December.
The sellers are confident that by thai
time the pressure of the silver cloud will
be sntir ely dissipated and that the reao
tion will bring about a higher level O
values.
Everything now hinges on the result
| of the November election. While 1T Il
assiimed that.the gold standard vii
| then be triumphantly sustained, ant
| chances are now being taken by larR,
| interests or by men of capital who vii
then reap good profit on their preseu
purchases at panic prices. the multitude
will walt until the votes are cast and th
victorious party named. Then will tn
banks solicit the favor of borrowers tt
whose plea they are now deaf. No
only will much capital be released which
is now securely locked up to await tn
worst If 1T should come, but the countr,
will be enabled to enjoy the full benefi
of the gold imitation which has been it,
singular good fortune In recent weeks
Over $40. 000, 900 in gold have been sddet
to the currency of the country since tn,
Imports Of gold began, and more mil
lions are expected. Prices Of agriculture
products are also advancing. and farm
ing interests are receiving encourage
ment. Having faith that the people O
the country will decide the momentou,
issue now before them In favor Of al
honest dollar, we are Of Sthe belief tina
now there are practically but thirty day
to 6the dawn of prOsperityo