New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-06-05
bic to deal with 1t alone. But now that japan
has taken hold of il. It may be realized.
EyyDrycES or IMPROVEMENT.

II would bc n queer year indeed II there were
not complaint of tho condition Of business. IN
fact there are business men who say II ~ me
worst season they have ever known IN their
experience II Is thrty-three years since Tie
first thoroughly protective tariff was enacted,
and 1t Is about the last year of ripened eApefi-
ence under the Democratic tariff enacted III
1896. Now, it is possible rs the eminent GivInc
of the Church Of England said ABOUT 'he
strawberry, that the Lord might have created
better berry or better year than le92' put II Is
certain that He did not. If the volume OF p"si-
hess compares fairly with that year. the co'h-
planning people are licensed 10 be qulet.
Ever since the end of 1896 the volume OF b'isi-
ness in comparison with previous years Has
been gradually increasing The increase i'as
been slow. and in some branches of business al
times doubtful but the fact Is that actual ray
mcnts are not quite o per cent less tnah 'iie!
were at the same time in 1892. But payments
arc based on prices The shipment of thou
sand bushels of wheat or thousand SUITS Oh
clothes means more or less in money according
70 the prices paid. 1t happens TO De the i"c'
that prices are more than 10 per cent lower IMAM
in 1892 so that the volume OF business III jill
quantities transferred must he larger than IL
has ever been In the most prosperous years CT
the countrys history.
Some evidence of this state Of things Is gwen
by "Dun's Review" this week in comparison
Of prces. which shows how much values or me
products OF important industries have been
dcpressed within the last three years. In near
Iv cverv one production in anticipation Of a
future larger demand is regarded as the cause
ho iron IL
dustry is only In part an exception because
purchases of its products have also Deeh piii-
dcred by uncertainty in regard to the various
combinations which have for years cohtroiieu
prices. and have been abandoned wlthll tie
last six months. but in some cases Win pros
rcct Of revival In such condition OF DusinesS
nobody can know what prices may be a snort
time hence. and therefore there Is doubt all
the time whether purchases may not prove I'M
profitable
Ar the same time evidence is given by The
Review" of a measure Of Improvement IN the
course of commercial failures when ~ hishl!
encouraging. II is shown that In amount OF Ia
bilities the failures in May were the small
est since September. 1890, in manufacturihg
branches the smallest since November Oh tna'
year. and in trading branches the sihaieS''
April alone excepted. since September loe'
But this fact is less encouraging IMAM Tue yum
parson by different branches of business, which
shows that In general stores failures were
never smaller in any month for three years III
unclassitied trading and in shoes smaller in only
two months of the thirtysx In BOOKS ana mats
smaller in only four months, and in groceries
smaller I'm only five months, In hotels ana Jew
elry in only nine, In furniture in only ten' anu
in drygoods only in twelve months, while not
one class shows failures exceeding the average
monthly for the three years. AS to manuiac.-
ures. it appears that the montlfwas the small
est of thirty-six months excepting four III
clothing. five In chemicals, six in woollens anu
seven in machinery, lumber and miscellaneous
manufactures, while it was larger than the
average only in iron and cotton goods anu
glassware, owing to one or two eXceptlonail!
large failures I'm those branches. These are not
statements which will crafty the pessimist or
the political panic-breeder, but they are from
o nonpartisan record and are entitled to high
confidence