The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-09-25
sMtI~
Daily r Eagle
NJ. NJ MURDOCH. Editor.
EVoIUTIONS OF A YEAR.

Twelve months ago the merchant wa:
calculating his losses. Now he is count
ing his profits. Ninety days ago the
mills were idle and men out of employ
ment everywhere. Today the engines
are fired up and there is idleness no
where Last year the farmers were sell
ing their wheat at 80 cents bushei
This year it brings So, and the prospect
is good for future advance. Last fall
cattle were selling at ruinously low fS-
ures. This fall they are picked up al
double the price. One year ago we
were in the midst Of a presidential can-
paign. Now the issues Of that cam
naisp are settled. Then there were
thousands of misguided but well mean
ing people who thought that nothing
but the free coinage of silver would re-
lieve our financial troubles. Now it IS
demonstrated that they were mistaken
and they are free TO admit il. Then,
Mr.. BRYAN was telling the people that
the election of Mckinley would bind
them as slaves TO a few men who had
all the money. Time has proved that il
did nothing of the kind. Three years
ago Grover Cleveland ordered an issue
Of gold bearing bonds to provide funds
for running expenses. Now nobody
thinks of such a necessity Two years
ago there was q feeling Of unrest III
financial circles about maintaining the
gold reserve. Bonds were coming home
from Europe and the cash was demand
ed on all maturing obligations For
eign capitalists were talking Of our re
public as an experiment and refusing
10 invest another dollar until our credit
was fully restored Today the gold re-
serve is away above the safety mark,
our bonds are eagerly sought in the
markets of the world at advanced fig
ures, and our credit IS Al where and
whenever credit is needed Corporate
securities, municipal state and county
bonds have all been marked up, and
they are selling now, whereas one year
ago they were a drug on the market
Last year the Gorman-Wilson law
was in force, showing us the beauties
Of Democratic tariff reform This year
we have the results Of Republican tar
if bill, not yet ninety days old All
theories Of raising revenue and all
party policies and traditions fail be-
fore the substantial relief afforded by
the operation Of this law The business
man, the farmer and the artisan have
seen the almost instantaneous relief
from the hour It became a law, and no
fair minded man can be OveTlnice in
preserving his loyalty to party or
principle which antagunizes a law that
brings such ready relief to his private
business. Last, but not least: One year
ago there was a total lack Of confidence
between debtor and creditor, between
employer and employe, between trades
men, neighbUrs, and friends, in al mat
tiers involving credit. Security and IN
doubted collateral was demanded, re
gardless Of the good intentions or ahil
i5y OF borrowers. There was no such
Thing as accommodation in business.
Now 1t Is different There is money in
abundance for all legitimate uses, and
we see the result in increased volume Of
business.
This sudden revolution IN business
conditions, dating from the change Of
administration last March, may be
mere coincidence, but surely nobody
believes It. The question viii be open
for debate TIL 1900, when the electors
viii pass in Judgment again, but It re
mains to be seen what fool heresies
may he connected in the mean time.