The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-12-22

thought on tiis currency question hs
takcs tba side Of progressive reform. and
DIS whole message, n open TO criticism
AZ CERTAIN points. brcathes the spirit Of
pence and cancellation. What ~ equally
important. congress H. In less irritable
mooi than formerly, and is likely 20 give
more attention 10 pressing home questions
Than 10 disquletfn0 international affairs
Tho prosidcntiai election r. behind us. and
the tnTfn question has been settled. 10
there is, happily, ieA occasion for BON.
bastlc speeches and resolutions for 20.
lltical effect than a yolr ago. Currency,
bankruptcy and railroad legislation are
likely 10 occupy more effective attention
Than Cuba or Hawaii; FOR which. n results
lre accomplished. the nation viii deyoutly
ret nm thanks. This promised freedom
from disturbing political agitation Is des.
tined 10 have n powerful Influence n the
r'rnrttlon Of tus'no-E prosperity: for
no,hirg has 30 completely fettered enter
prsss IN the last thee or four year. ~
the chronic fear hugely developed by po-
itlcal dlsiurbances
Nor y uhe improvement confined 10 po-
lilcal affairs. These have very close
connection with business conditions. but
thc lattor iaBow n recovery Of their own.
The great foreign demand for our wheat
al high prices has impaired ~ wouierful
stimulus to business In the wcst. Nfiich
a. not nkcly to sIbsldc when thar cause
II spent The whole interfor is apparently
'bom 70 start on a new ora of develop
ment. Kansas cares little about free silver
n0W that It's citizens are getting out OF
debt md becoming pTofperous The iron
trade r. confidently looking forward 20
very large business In 1895. The south
is fairly prosperous IN spite OF low-prlcel
cotton ani the check imposed on traffic
hy the y"llow fever rcarr Here and there
the nngoT can be pissed upon sore spots:
some Of our industries are stin suffering
from oyerproducuon and al the big east
ern centcrs where the brunt OF hard times
had 10 be horne the recovery is naturally
slower than In younger and smaller cen
trFs. The general trend. however is Ger
talniy towards expansion: and the strong
undertJnc Of confidence WnIrh nov pre-
yiils vii within a few weeks express it.
sslf in action. This however. T. not the
s,ason for business activity. and great
Improvement need not be expcctel be
fore the spring
Railroads are nov having their fun
snare OF the new prosperity Earnings.
both ret and grass are showing the most
gratifying lains. The uniformity and
s,endiners OF these gains Is something
very unusual For the las, uhree months
the 70 to 80 roads resyularly reporting thei-
cdrninvs each week have shown gains
Of frgn 10 10 % per cent. Very few roa,ls
reported declines. and these were unlm-
portant As result a few dividends have
been incr, ascd. and others are certain
IN follow II he rulis only refrain from
rutc-cuttIng. The preferred stocks OF re
orga14zei companies have. OF course been
strong because urder these conditions
,ney woud BE- first to benefit Some
properties have clso benefited by funding
their debt at lower rate Of interest a
process which IS liktsy 10 find favor with
s',ockh ,ldeis The darkest side OF the
railroad situation Is the pooling question.
Railroad managers are not in the bright
est frame Of mind IN tlris respect. They
are united in their demand for congress
legalizing the pooling method; but they
are very properly not prepared 10 accept
the terms upon which congress seems
willing to act-that OF surrenderlng the
rate making power Stockholders should
make themselves felt IN this matter, Thus
far thsy have left the whole burden OF
influencing legislation to their managers.
This is not very promising means of
SUCCESS HENRY CLEwS.