New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-01-01
THE NEW YEAR.

That provision in human nature which makes
every New Year seem glad Is not the only war
rant for looking forward with hope at the dawn
Of 1897. Better years than 1896 there have
been, and a few worse, but rarely. indeed. has
there been so much solid ground for belief in
better times as there is now. Even the men
whose most passionate desires have been de-
feated, even those whose repeated efforts to
start things upward have lpen disappointed,
even those timid souls who magnify every Oh
stacle within their view and supplement them
with obstacles visible to Imagination only. feel
that there is something substantial and real IN
the fair future which to-day opens before them.
What Is most certain and solid is that causes
OF extreme alarm or great disaster have been
removed This yeas does not open with fears
OF war about Vcnczncla that trouble is set
tied. and long steps have been taken TO insure
amicable settlement Of any other difficulties with
Great Britain. There was more than a posi-
bi,ity that National duty and humanity would
compel some action in the Mediterranean; but
steps tardy taken by the allied Powers seem
10 promise some protection for all Christians
against murderous fanaticsm. Cuba still re-
mains cause Of apprehension 10 some. but there
are many and growing reasons Cor expecting
that IL cannot remain so long. The truth Is that
the war which foreigners have waged against
this Nations industries has been lncomparaby
more hurtful and more dangerous than any other
which has threatened: but II was most perilous
when excess of imports was able to draw gold
from the country. and to exhaust Treasury
or;nn,ed bv n tariff for dedcit That state Of
things has been removed for some months, there
Is every reason to believe by the failure OF crops
I'm several countries, the consequent enormous
demand for American food. ana the unprece-
dented excess of exports which has piled UP
American credits In London TO the extent OF
$4,000 600 IN gold.
BEFORE the turn Of trade has required settle
mepts to that amount 1t Is probable tha' Tres
ldeut will have been inaugurated ana Con-
gress assembled 10 represent genuine American
policy. 1t may take some months to frame ana
mass new tariff. but IL emergency should pre-
cent itself such Congress and Presiden; w0uid
not need weeks time to provide temporary
measure Of relief Far more probable Is 1t th3t
IN emergency will arise before sound proiec-
,,ve law can be passed to revive industries and
n check the invasion Of the country by false
oo,bs and uudervalued goods Assurance that
such a change Is coming must encourage many
to start their Wnfeis, anu an 'n'i'"''"e '
Mt work must provide means for larger con-
sumption and larger demand for products.
In nearly all branches 1t is the testimony Oh
competent traders that stocks or goods rcmain-
ing in the hands OF dealers are comparatiVe'!
light. When that is the fact. the first positive
assurance Of an increasing demand and prop
ably higher prices is extremely apt to start
race for replenshment OF stocks before fhe ad-
vance comes II was seen In the fall or 1919
how great a volume Of business for time such
a genera. replenIshment would cause Ia the
judgment OF many Of the most experienced
manufacturers and merchants, the beginning OF
that movement cannot DE delayed long AFTER the
opening Of the New Year. Perhaps they may
be In error But. happily, the money MARKERS
are Just In position 10 meet most easily anu
Etersiiy the large demands which would men