New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-08-15
WHEN PROSPERITY IS GENUINE.

Everybody is using the word prosperity in
these days. but many persons carry in their
minds a distinctly mistaken idea of It's mean
ing TO the speculator in stocks il means a
rise in the particular things he fancies, when
the one change most hurtful TO public prosper
itv NAV possibly be an advance in stocks which
have only a speculative value. To many thou
sand workingmen there comes prosperity, ac-
cording 10 their conception, when their wages
rise. no matter whether other wages rise in har-
ulonv or the general cost Of living increases
more than earnings. There is great army OF
farmers TO whom prosperity means the acct
dental concurrence of bounteous crops and ex-
ceptionally high prices and they do not stop 10
think that a general prosperity can only be
based upon fair returns for regular and con-
slant industry. Many merchants count it pros
perty If large stocks of goods rise in value on
their hands. In general, the tendency is to take
quite too narrow and individual a view Of the
conditions which are called prosperous
Prosperity is not real if it is not general.
Gains by one set Of men at the expense OF an
other do not improve the condition Of the coun-
try in the least II the higher wages, the ex-
ceptlOnal cost OF food, the advanced prices or
goods. take from part Of the people In order TO
give to another part there IS not step toward
general Improvement But when the individual
gain is in harmony with conditions which the
public shares, and springs from and In turn con-
tributes TO the general well-being, then the i'm
provement is real Hence IL Is that many OF
the changes which are most frequently accepted
as signs of prosperity may be deceptive, as they
were in the fall Of 1895, and certain to be fol
lowed by reaction and general loss.
II is the most encouraging characteristic OF
the Improvement which has begun that 1t in
wolves larger employment of labor generally
and better returns for it. 1t Is not the sort Of
Improvement which takes from the many to
benefit the few. Already 1t is felt by the great
army Of farmers and farm-wOrkers who. with
the mechanics and others directly dependent
upon agricultural conditions, constitute more
than half the working people. and at the same
time by the millions Of wage-earners in manu-
featuring and mining pursuits There Is scarce
Is single branch Of industry sufficiently i'm
poriant TO he remembered which has not al
ready found fuller employment for labor, either
in hours Or'days OF work or in number of hands.
and the increase in time employed involves
larger wages, while in many branches higher
rates Of wages have also been granted.
such an Improvement, which is based upon
Securing larger employment and better com
ucnsaton for substantially all labor. is not the
Kind which may be expected to vanish in a
night and TO leave behind II great body OF
losses and host Of commercial disasters. II
is not the kina which makes many poor that a
few may he rcn. On the contrary. beginning
~ substantial increase in tho purchasing
power Of the millions. 1t TINS provides larger
and lasting demand for the products Of labor,
and hence assurance Of still further employment
and remuneration Hosting prices means no