Arizona republican., 1898-08-27
The War Having Passed Away With It's Uncertainties, Has Been Followed by New Factors Calculated to Foster
 Strong Bull Movement.

large and valuable trade with both islands must soon be forthcoming.
 The results in the Philippines are much less capable of estimate There can be no doubt that there, as we'll as in the West Indies, Spanish govern ment has been oppressive of trade to the. last degree; and it is equally cer- tain that if the islands were taken in- to our permanent possession there would be a rush of American enter prise thither proportioned to the rich resources of the archipelago and far surpassing anything possible in con- necticn with Cuba or Porto Rico. whose population and area are so much smaller. If the Philippines should be permanently annexed, a most impor- tant addition would be made to our tropical commerce.; and, including the West India trade, we should rank among tho foremost nations in respect to wide class of products which have always been the objects of trade ambi- ton. At present, however, it is impos- sible to form any judgment as to what disposal may be made Of the great eastern archipelago. It is fairly ours
 by conquest and we can compel its transfer to our ownership through the peace commission if we sosdesire. But the question is large and delicate one. and the president has preferred to take no definite stand upon it until he has had fuller opportunity to judge or what may be the sentiment of the American people upon the question. rms IS an eminently wise course, al- though 1t may involve keeping the country ignorant for some months to come in respect to by far the most irl- portant result of the war.
 It Is a welcome fact that the govern nent has kept down the military and
 naval expenditures to a much lower
 figure than was at first expected. Es- inmates now place the total gross cost of hostflities to this country at s2Oo..
 .'oe.0oo. This may possibly prove too low figure, but 1t is safe to assume that the war bill will not at all approx- innate the s400,O0o, 900 which has been very generally expected. The country will appreciate the effort to economize expenditure by putting the military and naval establishments as nearly as possible upon a peace footing as quickly as possible.
 As record Of military achievements the four months war leaves behind if much of which the nation may well | feel proud and much that will com mand the respect if not the admiration Of other countries; but the matter for
 profoundest congratulation is that we should have made such conspicuous
 contributions to humane government
 and achieved for ourselves such large
 material results with SO small a cost
 of life or treasure.
 | It IS not surprising that the stock
 market for the past week should have
 Deen under a movement that ap-
 breaches almost booming character, for the reason that the week was mem- !orable for the best of news all round fn connection with the crops, in con- nection with the foreign relations of our government, in connection with the money situation and the prospect
 of bringing gold this way from Europe
 this winter in large amounts for the payment of our products, in connection
 with our exports as compared with our imports. and, last but not least, in
 connection with the cessation of hos tilities with Spain and the declaration Of peace by the president. The future
 of this country is certainly full of promise. and all the favorable condi tions that exist stand for an active
 stock market with a rising tendency The half of the year '98, say from July
 to January 1st, will beyond doubt mark
 the highest notch of prosperity which this country has attained in it's history,
 and it is that prospect which is at the
 bottom of stock values at the present
 time. It is not surprising. therefore,
 that the current is at high tide.