Birmingham state herald., 1897-03-02
THE INDUSTRIAL REVIVAL.

People should pay attention to facts nowadays and discard opinions or views which deal with matters other than facts says the New York Mail and Express. The facts are in their way so cheerful and so eminently suggestive of better things coming that there is some ex- cuse for dwelling upon them briefly in general way.
 The plain sst-u tn of the ma tier is that an industrial revival is not merely coming or going to begin soon. but is actually in progress. The breaking of the steel rail pool has brought the industrial situation as a whole from condition of deferred hope to a condition of actual activity. There is little room for doubt that orders for steel rails so far actually taken aggre- gate the best part of 100000 tons, and while every railroad Chat has credit has used some of that credit to secure con- tracts for rails at the low prices, 1t is safe to say that production for the year will be at least ene-half or two-thirds as much again as the amount already re- ported. That means that in one depart ment of the steel trade at all events, there will be work going on practically all of the year. Rails need bolts, spikes, plates, and so on, which means more con- sumption of iron in various forms, mean- ing therefore the employment of more labor As every additional hand employ ed means an increase in general con sumption no matter how small wages may be paid, it is evident-that large increase in the consumptive demand for everything is assured by the activity in the iron and steel trade.
 The clearing off of surplus stocks of lea ather in the leather trade is another highly important sign of the times, the more especially as it has been followed by a pretty general decision on the part of buyers of boots and shoes that manufac- turers can hold their prices and that it is about safe to begin to buy. Shipments of boots and shoes from the east in the month of February so far are the larg- est ever known in the like period. All over the country stocks of boots and shoes in retailers hands are depleted, and they must have fresh supplies. The, increase In the number of hands at work in other departments means increased consumption of boots and shoes, and makes it all the more necessary for deal- CTS to supply themselves. This great in- dustry has turned the corner and is on the mend.
 The same is unquestionably true of the print cloth industry, and here it is en- couraging to note some export movement on quite a large scale. The decision of the Fall River manufacturers not to state the amount of stocks, is a retro grade step in some respects but there is no doubt that since the Borden purchase there has been further reduction.
 The most important industry, however, after all, apart from agriculture, Is the iron trade, and there can be no question that the future of the trade is assured for at least some time to come. Manufa etur- CTS profits may be small, but their turn over will be large, and the wages bill will be large. That is the main thing for the country.
 A great deal of stress is laid by pessi- mists (and by people who think that the stating of objections to other peoples opinions constitutes wisdom of high or der) on the low prices of agricultural pro- duce and on the small amount of profit that remains to the grower. Prices for agricultural produce, however, are not all ways a guide to profits. A little com mon sense shows that it is a great deal better for the country as a whole to have very large crops and market them at low prices than to have small crops and of drouth, where it does not destroy the crop of corn, may retained for the corn double what 1t is very clear that even