Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-12-27
The Business Situation.

buG OoSsuesS CteoostVus
1t has grown to be so common GUS
tom to growl at the hard times, that
the business world is slow to note the
evidences of improved industrial condi-
tions in the country at large, and partic-
ticnal changes which appear to point
to contrary conclusion. 1t was alto
gether too much to expect that the
country could have an immediate re-
covery from the blighting effects of
four years of Democratic rule. Under
the splendid administration of Benja-
min Harrison,the strength and charac-
ter Of which will be more and more ap-
preciated as it recedes in history, the
American people had enjoyed an era of
unexampIed prosperity. Every one was
employed. Wages were high, and
with it's marvellous record in this re-
spect. had it's material wealth increased
so rapidly. Surely if ever an admin
istration deserved the hearty and en-
thusiastic endorsement of the Ameri-
can people it was the administration of
Benjamin Harrison. Not only was this
deserved endorsement withheld. but the
Democratic competitor of Mr.. Harri
son was triumphantly elected upon
platform distinctly opposing every prin
ciple of government that had rendered
possible the splendid prosperity of the
history of this country were the Ameri-
can people guilty OF a more egregious
Years before Mr.. Blaine, with that
far seeing political prescience so char
acteristic Of his distinguished public
career, had foretold, with prophetic ac-
curacy, the evils that would befall this
country in the event that a free trade
policy should be adopted. Events fully
justified his judgment. The Cleveland
administration was one long nightmare
for the American people. 1t was chap
ter of accumulated blunders and miser-
les with nothing to redeem it. The reve-
nues were inadequate to meet the cur
rent expenses of the government. and
in order to supply the deficiency the
administration resorted to the issue of
bonds, thus increasing the national in
terest-bearing debt. which had been
steadily diminished under Republican
administrations. and at rate that had
challenged the wonder and admiration
of the world. by more than $780,
100000 of dollars. This was a
small part of the cost to the Ameri-
era of general prosperity, an un-
American, un-progre ssive and hope
lessly stupid Democratic administra-
ton.
Well, the people repented of their
mistake when it was too late. They
had to wait four years for an oppor-
tunity to rectify it, and what four
years We're they in American history
years of distrust, of industrial prostra-
ton, of enforced idleness and want
among the productive masses, Of I'M
paralleled business stagnation. How
can we expect to fully remedy all these
evils in few short months?
The patient has been sick unto death.
He must have time to convalesce, be
fore he can be expected to regain his
old-time health and vigor. And are
there no evidences of gain in spite of
any little occasional relapses-which
should not be unexpected after so seri-
Gus an illness? Most assuredly there
are The gain has been slow but it
has been steady and sure. Local con-
ditions have operated to retard it in
some sections of the country. This is
specially true of New England where
a cold and stormy spring and early
summer, and the almost total failure
of the apple crop, have left the farmers,
whose prosperity constitutes 50 vital
part of the prosperity of the whole
community, with an unusually small
amount of produce to market.
In other parts of the country brighter
conditions have existed. The year has
- been specially prosperous one for the
farmers of the West, who have en-
joyed the advantages of large crops
and high prices.
The large amount of money that has
thus been secured by them has been
used in great part in paying off the
mortgages left over as a legacy from
the Cleveland administration. The
money that has gone into the hands of
Western farmers has not, therefore,
created the enlarged demand for manu-
featured goods that would, otherwise.
have been the case. Their money has
been chiefly used in lifting the encum-
brances upon their farms, and. going
into the hands of creditors who. under