The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1898-12-30
CHICAGO, Dec. 26, 1898.

= CHICAGO, Dec. 26, 1898.
EDITOR HERALD:-I asked a
thoughtful and conservative man
to day what, in his opinion, is in the
claim shat prosperity has returned
to the country?
He was sitting at his desk when
asked the question, and leaning
back in his chair he answered me,
slowly and deliberately:
"A man in business" he said i,
"whO deceives himself as to what
his house or firm is doing, realizes
later, when the trial balance is off,
that he has made mistake. And
yet how many people there are who
go on deceiving themselves. The
man uf we'll balanced mind always
wants to know the truth, and sue
ceeds better thereby. And so it is
with notions. The people may de-
ceive themselves as to their con-
ditiOn, or they may be good Of judg
ment, realize their exact condition
and build wisely by doing So" He
paused a moment and continued !:
There is Spain, an exaggerated
case of a people deceiving them
selves-deceived as to their strength,
the business of their cause, and the
awakening is, to them, all the more
dreadful. Whereas if they had had
"A correct estimate of themselves
they would have Jared better and
their fall would not have been so
hard. What Spain has done, in an
exaggerated sense, all other nations
have in part been guilty of. Are we
deceiving ourselves as to the exist
ence Of prosperity? is question
which all men should consider.
That there is prosperity, unusual, in
some directions, there is no doubt. "
He reached over on his desk and
picking up a New York Sun Of the
18th inst handed it to me and ask
ed that l read an editorial therein.
L did so and here it Isl
The announcement to-day that
the. directors of the Fifth Avenue
Bank had declared regular quar-
terly dividend of 20 per cent, and an
extra dividend Of 5per cent, payable
on Jan. 3. called attention to the
fact that this is one of the few banks
in this city, and in fact in the United
States, that yields to it's sharehOld-
ers 100 per cent upon the par value
of its shares. Though the dividends
as declared represent but SO per
cent regular, the declaration of an
extra per cent has been the rule at
each quarterly declaration, so that
20 per cent has really been regularly
paid each quarter. The First Ma
tiOnal Bank of this city regularly
pays 100 per cent in quarterly in
stallments, and the Chemical Ma
tional Bank pays 80 per cent in
bi monthly dividends"
AS | concluded reading the edi-
tOrial from the Sun he said: Now
there is prosperity. The Pullman
Palace Car Company has declared
a dividend of $l0,OOO,0O0; the Sugar
Trust $20,000,000; the Standard Oil
Company $50,00O,OO recently
Stocks of all corporations have ad-
vauced largely. All these are signs
of prosperity. And these are in
dividual instances of it. Mr.. Dav
of Ohio, eX Secretary of State, it is
said, is about to receive 500 600 for
three months service at Paris. Had
Mr.. Day retained his Office of Secre-
tary of State, under the law, he
could not have drawn two salaries
and would have had to be cOntented
with the unprOsperous-li sum OF
So 600. These are all evidences OF
prosperity, and with commendable
national pride we are apt to boast
about it," he concluded, looking at
me over his glasses.
But is it2" | asked.
"Well, let's look at it again." he
said. Here is letter on my desk
from "A philanthrOpic society that
fed 10 600 poor people yesterday al
the Waverly Theater in this city
You will notice." he continued
handing me the letter, that it says
this Society fed on Christmas day
last year, 5000 of Chlcago's poor, but
that restitution has so increased
that it hopes to meet the demand
this year by feeding on Christmas
Day $1,000. Christmas has now
passed, and the papers tell usthat
the expectations of this philan
thrOpic society were fully realized
Fifteen thousand people or more,
he continued, showing some feeling
who are willing in their fallen
pride and distress and hunger t.
accept alms-tO eat crumbs from the
table of Dives! That is just the
reverse of prosperity; and 1t shows
an increase of nearly double Ovel
that of last year! Has prosperity
returned? Are we being fooled, or
fOoling ourselves? 1t is a serious
question"
Picking up circular from his
desk he went on: Here is a mer
chant who wants to sell me the hes
linen collars at retail for 9 cents tina
formerly sold for 20 cents. The pro
ducers of the linen in those collars
and the manufacturers who maxi
the collars must be getting yer!
little. We also know that cotton
and cotton cloths are cheaper thar
ever known. Also farm products
continue low. | can hear of no on,
who thinks that the producing
classes are more prosperous thar
they were a year since. They ma.
be, but observation will hardly war
rant that conclusion. So when yOl
ask the question, Has prosperity re
turned to the country? the a1swe
you will get will depend on who /
| a., l.