Omaha daily bee., 1897-01-11
THE RETURN or PROSPERITY.
Incrcasing Confidence ana Cheerful
ness in the East.


This new year has opened with a FAR more
hopeful prospect than this country has had
at any time since 1892. The improvement
In business which succeeded the election in
November and the defeat OF the malign
forces combined for an assault on the ma
tional credit and prosperity, has been de-
cided and pervasive. Yet we have had only
the beginning of the great revival Of enter
pr.so and activity which manifestly is gning
to mark the closing years of the century.
Tho holiday trade OF last month offered
good test of the tone prevailing in the COM
munity and the buoyant spirit aroused by the
triumph of Mr. Mckinley. That trade, as we
hear from all sides, was of unusual volume,
the extraordinary demand extending from
articles of small cost to articles of the great
est luxury and elegance
The long continuance Of the period OF
business and financial depression and uncer-
talnty which began in 1892, brought about
losses and reductions of capital too great for
the full recovery from them to be itnme-
diate; but so soon as the cleo
tion was over 1t was made man
ifest that that dismal period had
been brought to a close. Business and enter
prise had then a solid ground on which to
build The period of mere political and
economical theoriaing and experimenting lad
been concluded, and the people saw before
them the assurance Of an administration
which would be governed by practical and
common sense.
lne economic questions WlJn WHICH tHe
Mckinley administration will have to deal
are very simple for men who take hold of
them in the spirit which will undoubtedly
distinguish K. They relate almost wholly
to the mere raising of revenue sufficient for
the purposes of the governments; and the
result of the election has removed all uncer-
tainty as to the method by which the reve-
nue. will be obtained. 1t will be raised. as
it is raised now, by a protective tariff and
by internal revenue taxation; and the pur
\ 4 -
solely to produce the requisite result without
disturbance to the business and industry OF
tho union, but rather in a way to encourage
and stimulate them.
The question is altogether practical, and
Mr.. Mckinley Is surrounded by advisers who
better represent the tone OF conservative
and sensible men of business than those who
have been about president for a long time
past He is himself a man of practical sense
and not a man welded to a theory which he
will follow stubbornly, because of mere
pride of opinion. More revenue is needed
it will be obtained, as it should be obtained
from the tariff chiefly. When it is secured,
the troubles of the country, far as they
are produced by the policy of the govern
ment, will vanish wholly. They have been
due to the unprecedented condition of a
steady deficiency in the government revenue,
which has necessitated a great increase i'm
the bonded debt, after q long period during
which its dminution had been vast and un-
interrupted. OF course, the consequence was
disastrous to our business and industrial in
tereSts.
The talk about the need of reforming our
currency system has no basis of fact or rea-
son on which to rest. The currency system
is sound enough as it is; and 1t will not be
changed. Tho element Of uncertainty which
would be introduced by the prospect OF ex-
perimental changes will not disturb the con-
ditions of business. We shall have sensi-
BILE administration at Washington.
1t Is evident, therefore, that the revival of
business. the signs of which appeared as soon
as the election waa over. will go on gather
ing force, with the prospect that the people |
OF this republic will reach the end of this |
century in higher condition of prosperity |
than they or any other people have ever ex- |
perienced. A few snarling critics are trying
to resist this increasing tide of prosperity; |
but they are impotent in their malignity. |
Mr.. Mckinley will enter upon his admins
tration with the good will Of men of all par |
ties to a degree never enjoyed by any pres- |
dent in the memory of this generation. The !
hearty support which every con nservative in |
terest gives to him. and to the republican
party as the only political organization now
standing between US and political chaos |
strengthens the assurance with which the |
people may look forward to that aboundng
prosperity.
The period of gloom is over. Hereafter we
shall see steady progress and increasing CON
tidenCe and cheerfulnpsS