The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1896-12-31
BUSINESS MEN CONFIDENT
THOSE HAVING INVESTMENTS En-
PECT FULL RETURN OF FPROSPERITY

Expectation of Many People That There
Would be Quick Revival After Election
is Pointed Out as without Reason-Talls
of War Menaces Prosperjty-Looking for
Tariff Legislation.
Baltimore, Dec. S0-About 500 leading
northern and western manufacturers
and railroad officials, including Presi-
dents Cowen of the Baltimore and Ohio
railroad and ingalls, of the Chesapeake
and Ohio, Vice Presidents Finley of the
Southern Railway and st. John of the
Seaboard Air line; President Gates Of
the Illinois Steel company, Abram S.
Hewitt and others, contribute to this
weeks issue Of the Manufacturers Rec
ord their views upon the business out
look for 1897. Almost without excep-
ton they take very favorable view
of the situation and a general summary
of their letters shows confidence in a
gradual but sure return of business ac-
tivity and prosperity.
The expectation Of many people that
there would be a quick revival after
election is pointed out as without rea-
son, and the position is taken that the
election only served to make possible a
beginning of better times.
The hundreds of manufacturers,
whose letters are published, have made
much more general discussion of bus
mess conditions than is usual in letters
of this character, and while a few ack-
noWledge that they have been disap-
pointed that the business revival Is not
more decided, fully three-fourths or more
emphasize the fact that the inquiries
have increased to marked extent,
and that actual sales of heavy machin-
cry and the closing of large engineering
and building contracts promise to be
fairly active after the first of the year,
with indications pointing to a very
wide and expansion in domestic and
foreign trade before the end of 1897.
The whole tone of all the letters, both
from railroad officials and from leading
manufacturers all over the country,
with but two or three exceptions, is
strikingly optimistic. Some claim that
the new tariff bill must be passed be-
fore we can have full prosperity A
large number are very strong in their
opposition to any congressional action
as to Cuba likely to involve us in for
eign war. This, they claim is the only
danger that menaces our prosperity.
Congressman Walker, chairman of
the house committee on banking and
currency, says:
I'VE are certainly upon the threshold
of a period of increased activity and
prosperity and wide expansion of our
trade interests. both in domestic and
foreign markets, provided congress will
accomplish the legislation demanded
If congress .dalles along a year or two
in furnishing a revenue adequate to our
current expenses and to pay off our ma
tional debt in the near future, while
Europe is filling our bonded ware
houses to bursting with products of
every iknd in anticipation of higher
tariff, and also neglects the immediate
Of our financial and bank
ing system, two years hence the coun-
try will be in worse condition than it
has been at any time during the last
three years. Never has there been a
time in the history of the country when
it's prosperity depended so much upon
wise tariff egislationrfdwluupup
wise tariff and financial legislation as
to- day"