Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-01-06
THE BUSINESS SITUATION.


II review OF tho business year. says
while tho year lh97 did not fully
realize the aanguiue expectations Of
those who hope 10 enjoy in ii a high
drgree of prosperity, 1t at least draw
inside the veil behind which, in the
absence OF untowaru future happenings,
q genuine and we'll founded prosperity
may he clearly discerued Following
period OF years In which fair prospects
we're not horne out by results, the year
just closed may be regarded as having
been quito satisfactory nne. That
the improvement was not shared in by
all parts OF the country To tie fullest
extent is, Of course, not to bo dunlud,
but it Feoms to be the general opinion
that the improvement in favored
sections was Of sufficient yalume to on
able larger aggregate OF business TO
be donn in. ths country aU whole tnAn
Tor any year since 1862. Returns OF
business failures i,ark clearingH, rail
road earnings, foreign trade statistlGs
ana detailed reprts from all the
leading cities Of the country seem TO
point unmistakahly to this fact.
X. q. Dun & Co. a Review also looks
back upon the yaar, from q buainoss
point, and makes these Conclusions:
now year opens witt, conditions radically
different from those which prevailed a
year ago. Great financial distrust
existed then. but has passed away.
After whole year of sntire freedom
from disturbance or alarm. in which
the country mas paid heavy foreign in
dsbtedness, taken and pain many
millions for stucks sent from abroad,
and accumulate credits against other
countries represented by merchandise
balances more than $500, QUO, 600 in its
favor for the past live months, with
deferred exchanges for more than $40,
900, 900 held by new York banks alone,
while this great industries have been
pushing their way into foreign markets
with unprecedented SUCCESS, the mono
tary situation is no longer a matter of
anxiety. More than half a million men
in few States, according to Official
reports, are employed now who we're
idle year ago, and the general advance
in wages for those empo, I'D has gone
far to restore the rates prapailing be-
fors the panic. The volume of business
through clearing houses. for the week
lag per cent larger than in 1892, has
| for ths month been g per cent larger
than in that year, and in many indus
tries and branches of business the
later months Of this year have surpassed
all records"
liamhleton & Co. OF Baltimore, il
their weekly letter make these obserya
tons:
Observance OF the Christmas and
| New Ypar holidays has tended tc
make the market dull and undressing.
The settlement of the Union Pacin;
purchase aud very large payments tc
| the government On account of same,
somewhat unsettled the muney market
and caused Nm advance 10 rates. Tht
| disbursements of the government il
paying off Union Pacific bonds mutur
ing January LIST, and thu usual la.gt
payments for interest on bonds. viii
release very large amounts, and IL i!
probable tnat money will be eaey al
low rates after the beginning Of thu
year.
The New York market continues firm
and conditions are still favorable tx
improved values. Our immense EXPORT
and very large credit balance on thu
other side place this country in com
manding position. II We headed 500,
900, 900 gold we could bring il over at
moments notice.
1t has been many years sine
this country was in such mn indie
pendent and commanding position con
corning its commercial and inancia
relations with other nations. Europ
has distrusted us and has been engaged
during the pact five years in sendinl
homo our securities and withdrawing
its capital from this country. For sey
eral years we suffered fron this dis
trust, but it has redountlei to our ad
vantage, as We have paid our dehts an,
nave grown rich and strong enough t
hs independent of Europsan capital
The boot is now on the other leg, an
Europe is now debtor to us, an
American capital is being used 10 ad
vantage abroad.
There is only one thing needed to as
suro to thia country and people year
of phenomenal prosperity. We are feed
ing Europe, are lending them our mope
and selling them our goods and manu-
featured products cheaper in man
cases, than they can buy at home
Iheae conditions will last IL va sha
act wisely anu place our currency ahnv
suspicion. viii Congress- ID il? W
believe it will, and We look for vote
from the South to help the good caus.
The south is waking up and cannc
much longer be fooled into pulling tn
silver State chestnuts out of the tIe.