The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-07-28
Good Times on the Way.

The miserable business in which the
partisan organs of the free silver move
ment are engaged when they try to fill
the ears of the people with complaint
and discomfort, and pick up only to
magnify every adverse trade symptom
in order to discourage the return of
prosperity for political purposes, is an
noyine, but it is Intellectual 1t causes
decent men to be indignant. but it is
powerless to stay the oncoming tide.
Prosperity has set in, and there are
solid figures as well as hopes to prove
It,
Forty-eight active stocks listed on the
New York exchange and representing
a total capital of $1,99S, ,9O2 l29, divided
among the leading transportation and
industrial enterprises in the United
States. showed at the close of market
hours on July "a. 1897, an aggregate ad-
vance in valuation of $211, ,905992, or an
average rally of nearly II per cent,
over the valuation recorded on July %.
1896. So general a forward movemen;
could not be produced artifcially. 1t
shows that prosperity is moving and
that it is coming the right way.
The banks represented in New Yorks
clearing house have in the same time
increased their loans by S65, ,S34 700, of
which amount $S5, 800 has gone into
circulation since May 90 The banks of
New York reflect unerringly the ten
dency of business. They clear for the
country.
But the gain is not wholly to the
stockh older or the banker. The far
mer, also, is having his share. His
grain and live stock products are worth
$350,000,000 more than they were a year
ago. The detailed figures follow. The
price Of wheat is twenty cents higher
than a year ago, and tine crop is esti-
mated at 5O0.OOO0OO bushels or more
That means 500, 100000 more for wheat
Corn is bringing two cents a bushel
more than it did year ago, and the
crop is put at 1000 900, 900 bushels. That
accounts for the additional $40, 900 900
from corn. Rye, barley, faxseed and
other small grains are bringing higher
prices and make modest gain of $10,-
100000. Hogs, cattle and sheep are
more than a wear ago. There are. 4O,-
100000 hogs, 5O,ho0, 900 cows and steers,
and 100000 sheep. Estimate puts
their increased value at 100000, 900.
Here we have already gain over a
year ago of $3.50, 900 900, or IS per capita.
But these figures represent onlyo,tbe
beginning of the thing. Upon con-
a to &c hot he
railroads of the country will derive
Sl76,053,934 frorG the movement of this
years crop of wheat and corn These
figures are based on expert averages
of the freight rate per ton and the net
shipments tc the seaboard, the visible
crop being a known quantity. They
represent what will directly pass into
circulation among the main body of
the people, paying debts as it goes in
the proportion of many dollars of debt
cancelled for each dollar in movement
To move these vast crops the railroads
will have to purchase new rails to re-
place the worn ones that haven't been
changed since the panic set in; new
cars, new locomotives and new supplies
generally. These orders in turn will
light new factory fires, bring new en-
ployment to labor, restore curtailed
wages, ease general mercantile collec-
tions and help onward the aggregate
business progress.
Locally this revival means better de.
mand for coal and iron, more work and
eventually better wages for that work
1t means as sure as fate that the prom.
ises of the Republican party will be
made good. These are facts and signs
which we respectfully commend to the
dyspeptic gentleman who in the Scran.
ton Times daily informs the tired pub.
lie how miserable he feels