The times. [volume] (Washington [D.C.]) 1897-1901, 1898-08-28

OtlSDl lut dukGilA Vi ocpNNuiDNA. ~
means an era of unprecedented prosper
ity. Everybody on the street tells you
the same story. The month will open UNI
der the most magnificent circumstances.
Bankers and business men all believe that
we are about TO witness the brightest
period in the history of the Republic. II
is not a mere sentiment that sways the
street. but hard common sense built upon
indisputable facts.
curfously enough, conservative Wall
Street bases good part of its faith for
this future rise on the acquisition OF
the Philippine Islands. You cannot find
anyone who is willing to see this Eastern
archipelago turned over TO another ma
ton. Slowly but surely the street has
about come to the conclusion that the
Philippines and prosperity are almost in
Interchangeable terms, and that the Pacific
Ocean is TO play as big role in our his
tory as the Mediterranean Sea did to the
Romans.
Without prolonging this statement of
the situation here, let me quote the opin-
ions of the leading spirits of "the street
as / jotted down their words in short
hand.
Warner Van Norden is president of the
National Bank of North America and a
director in several leading railroads. Said
Mr.. Van Norden TO me:
The business outlook is very flattering
With the phenomenal foreign trade and
enormous credit balance, with three sue
eessiYe large crops at remunerative prices.
and with an expanding home market
probably the largest in the history of the
country the coming Fall. we have reason
TO be more than gratified at the situa-
ton.
The wonderful Developments in the Pa
cific Ocean are going TO astonish the
world. Four hundred years ago the Med
iterranean was the seat OF the worlds
commerce and the center of all the
worlds activities. The discovery of
America made the Atlantic the highway
OF the nations. Meanwhile. the Pacific
was a lonely ocean with too meager COM
merce.
The opening of China TO the world is
like the discovery Of a new planet. Wants
will be developed that will keep all the
eartil's manufactures busy for genera
tons TO come. More than half the pop
ulati8n of the world is centered around
the Pacific Ocean. This great mass of
humanity will be governed by the West
ern nations
In this great development America viii
necessarily participate. Our three Pa
eifc States viii develop into a mighty
empire. Within few years there VIII
be ten millions of people who will find
an outlet on the Pacific.
THE future is so full of possibilities
as to bewilder the mind. The outcome
of the war has placed the United States
among the great nations and called atten-
ton 10 our mighty resources and our pro-
digious wealth. AS a result. ! expect te
see such period of business prosperity
as this country has never seen before.
"A few years ago India did not con-
sumo a bushel of wheat among the ma
tives. The people lived entirely on rice
Today India is raising 81, 600 900 bushels
of wheat. and is exporting only 1900, 900
bushels of it, thus consuming 900. 600 900
bushels, which is positive indication OF
the improved condition of the people in
that il enables them TO eat better food
Year before last we exported 10
Hong Kong 100000 barrels of flour: last
year. 100000 barrels; and this year we
will reach a million barrels easily. show
ing that the Chinese, slow as they are
TO change, are learning to eat the food
of the Western nations instead of the
less nutritious rice
Secretary of the Treasury, and now
president of the New York Security and
Trust Company, said:
Everything is in a splendid condition
for an era of prosperity. ] base my be-
lief on the great crops largely. People
are in a much better condition than last
year. and have nquidated a good portion
OF their debts. One of the good signs of
the times is the hopeful condition in
Wall Street Il Of h.
territory of Porto Rico will make a diff
ference. too.
The result Of the war gives US a more
commanding position in the world than
ever before and it will make Europe
regard us more favorably as one of the
established nations.
Il feel thai we shall be obliged to keep
the Philippines in some form. / don't
see how We can well do anything else
We cannot disturb things all over the
world, and then shrink from the result
Of our action Nor can We shirk our re-
sp0nsibility of looking after the interests
OF these islands II is not a question Of
dollars and cents. but a moral obIiga-
ton on our part.
From q national point of view the re-
teniion of the Philippines puts us in a
position where We are more than likely
10 have great influence in China, and
where we can look after our trade in
the East This viii be an additional
advantage to us.
I'VE cannot avoid cur international re-
lations. We must now take our place
among the countries of the globe and
bear our part Of the veal or woe OF The
human race. We should keep the Phil
ippines. 1t is our moral duty 10 do so. !
III we get any pecuniary advantage out
OF the matter. so much the better We
should meet the responsibility we l,ax-s.
incurred
The IL B. Claflin Co, the biggest dry
goods house in the world. with branches
in every country, had this TO say:
The business outlook could not be bet
ter than il is IN the volume of sales. we
shall greatly exceed last year. 1t looks
as IL all lines Of business will be good.
Our reports are all favorable, and indi-
cate the general activity in every direc-
ton General prosperity is certainly at
hand. There are good crops all over the |
country, and everybody is in the best of
spirits over the result of the war
The people have Weakened up TO the
fact that this country should adopt a
broader policy. as far as trade and COM
merce are concerned and reach out be- 4
yond our own borders. The annexation I
OF new territory will solve the problem of
oVerproduction that has bothered us for
the last few years. Instead of curtailing !
the manufacture of our goods generally, |
every factory will be increased 20 its full |
lest capacity. in the mills of New Eng |
land. uncertainty viii give place to GER
tainty as regards regular employment, |
and new manufactures will spring I'D 4
in the South.
we should keep the Philippines. no. |
only for these reasons, but also for DO |
ltzca3 and humane reasons Immediately