The Denison review. [volume] (Denison, Iowa) 1867-current, 1898-10-04
the situation at the close Of the last


month it said:
The smallest failures ever recorded in
any month for five years were those OF
August. No other month since the
monthly reports were commenced by
Dun's Review exclusively, has shown
defaulted liabilities as small within
81 ,OO, 900, and the ratio of such defaults
to solvent business, represented by ex-
changes through all clearing houses,
only $1Os.7O in 100000 is smaller by
80 5 per cent than in any previous
month, the clearings having been the
largest ever known in August, and %. o
per cent larger than in 1892. Owing to
a few large trading failures, the ag-
gregate in that branch has been smaller
in two of the past fifty eight months,
but in manufacturing the amount is
less than in any previous month.
The enormous volume of business in
month usually one of the most in
active of the year demands attention.
Postponement during the months of the
war of some contracts and purchases
which have now come forward explains
part of the increase, and the strong
absorption of securities explains part,
but there has also been great decline
in the average of prices for all COM
modities, so that it takes much larger
volume of business in tons or bushels to
make up transactions amounting to a
million than in 1892. 1t is therefore
strictly true that business is larger than
in the very best of all past years, and
yet there is every prospect of much
further increase.
The trusts declined little more and
closed SO cents lower for the week.
Protested fears of closer money We're
used as lever, but facts do not war
rant any such fear, and the first of
September with its heavy settlements
has passed without any disturbance. On
the contrary, heavy shipments of gold
this way, Ss,s5O,OO from Europe and
So, 600, 900 from Australia, which marked
weakness in sterling exchange, indicate
that balances due from Europe can be
called as they may be wanted.
The improvement in the iron industry
has not only continued, but becomes
more impressive because, after enorm-
GUS buying of materials has satisfied the
needs of great consumers for months to
come, the demands forTproducts is so
great that both materials and products
gradually advance in price Bessemer
pig has risen to $10.55 at Pittsburg,
local coke at Chicago and anthracite
foundry at the east are strong, and also
bars and plates advance shade, with
most structural and plate mills filled
with orders for months to come, and
25, 600 tons rails sold at Chicago for
delivery nextyear. The Iron Age seems
to have reason for saying: 'Not in
twenty years has the outlook been as
hopeful" The advance in tin plates, in
spite of production far greater than was
thought possible not long ago, is
I, evidence that consumption of steel in
that branch will be heavy. The wire
nail works also report better demand
and the output of Connelsville coke has
started up, gaining 10000 tons for the
week
''The trusts declined" Gold coming
in. American prosperity going on
ward. The general average of price
going down increasing the easier living
of the people. Prices in depressed in
dustries going up and quickening bust
ness. What a stubborn answer mad
by fact and science and the laws of tn
universe all this is justifying republical
and nd-money democratic common
sense or against the foolish prophesy
ings and forebodings of the silverite
and Bryanites.
The political significance of this ger
eral prosperity is that existing as fac
patent to all its reconciles both repul
licans and sound money democrats an
Independents to that coalition of vote
, acting in concert in the elections of 1Se
and 1896 which made this gener,
prosperity possible; and so makes a
overwhelming reason that that votin
r cooperation to common end shout
continue. For whether as these dem
$ Gratis believe prosperity was due solel
, to the maintenance of sound money ar
/ the gold standard, OF as republican
: believe it was due both to protectie
o and the maintenance of sound none
i and the gold standard it is evident tn
4 it is possible under protection for
j. exists, and both republicans and sour
q money democrats agree that it could n
/ come and could not stay upon the fir
2 silver basis.
It The war and complaints about Il
: management of the war are losing ;