The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1897-04-23

potn rallroa1 stocks and lndustT1als.
the following table shows the shrink
age in stock of ten of these companies
since the election.
The value Of the stock Of
the Burlington company
has declined since elections S,226,27O
Tobacco 1,412, 900
Rhode Island .............. 3,230,92O
~, L.. q 2,096 900
Jersey Central ............. 2,249,700
New York Central.......... 1000, 900
Manhattan 100000
Western Union ............ 4,76S,0O
Leather preferred ......... 1854 900
st Paul 1,S4O,OC0
1oldl .$o0,Gl ,S9O
These figures are made up from quo-
tations of Monday, Nov. 8, and Mon
day, Jan. Is.
During the campaign these compa-
MES took an active part, organized
their employees into sound money clubs,
and marched them through the streets
OF our cities under sound money ban-
ners. A shrinkage Of $35, 900, 900 in the
stock OF ten companies doesn't look
much like prosperity, although we ac-
knowledge that the money is sound
enough. Before we get through with
the gold standard it is to be hoped that
the business men" will get their eyes
open and learn that the kind of money
that doesn't employ labor never sets
the wheels of commerce to moving, and
cannot therefore bring prosperity.
But what will the Republicans do?
1hey will fume, fuss and fzzle Just as
the Democrats did. No sane man be-
lleves that you can make times better
by making taxes higher. There may
and Will be, perhaps, better times for
a temporary season. Something like a
settled policy will prevail for the next
tour years, and this of itself will bring
out some capital which is now unpro-
d%uctive, but was "timid'' before the
election. Prices have reached a point
SO low that it seems we have gone to
bedrock. Naturally they will take a
turn. Railroads are already availlng
themselves of the opportunity to buy
cheap steel rails. When the tide once
turns and prices start upward money
Will com from its hiding places, add
to the volume n circulation and assist
prices in their upward tendency. But
all this will not be on account of the
gold standard or increased tariff taxes.
On the other nand it. will be in spite of.
them. The ,Monderfulsresourtces OF this
country are too tempting for capital to
remain long idle;-.and it will ronly. do
SO when money is advancing in value
while prices'of other things are shrink
ing. 81 ~" .t,
We',weere told by Republican cam
paign speakers that better times would
prevail Immediately after Mckinley
was elected: They said confidence
would then be restored. business be
stimulated, and prosperity quickly fol-
low. It has'now been five months since
the election and Mckinley has been in
stalled as president. Looking back
over the business failures since the
riele;ction. we find them as follows:
Failures: week ending. Nov. 7, 223;
failures iW~eeksending, Nov. Ii, 25s; fail
uress. week ending Nov. II, 3os; failures
week en- ending Nov. 90, 2s6; failures week
ending Dec. S, 321;; failures week end
ing Dec. -, 38l; failures week ending
Dec. 10, 1877: failures week ending Dec.
26, 1916; failures week ending Jan. 9,
48S; failures week ending Jan. 16, 455;
failures week ending JAM %, 429; fail
ures week ending Jan. 80, 331; failures,
week ending Feb. s, 81; failures week
ending Feb. IS, 3O1; failures week end.
ing Feb. 20, 325.
This doesn't look much like a re-
turn Of confidence or reign of pros
perity. Whatever may be in store for
us in the future as regards prosperity
at the hands Of the Republican party,
there is no m%istaking the fact that the
Republican politicians advertised their
show too soon. But the policy of the
Republican party will not produce good
times. Better times than We have been
having may come in spite of that pol
icy and an unthinking public may give
the Republican party credit for 1t.