New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-11
MR. FLOWER on THE OUTLOOK
ENTERING UPON AN UNPRECEDENTED
ERA OF PROSPERITY. HE SAYS.
-ovDrT1oxs MORE FAVORABLE THAN THIS COUN
Thy HAs EVER lNOwN-TREMENDOUs
INCREASE IN CAPITAL.
rr.Goxernor Roswen p: Elower. wha las

Ex-Governor Roswell p Flower who has al
.,o-r been known as one OF the most pro-
,ounced believers in the permanent character
;, the recent improvement IN business IN an
,,.e-v,ew Yesterday set forth the grounds for
,,s optimistic opinion. as follows:
This has been q remarkable year IN many
,,svs We have waged speedy ana successful
va- We have gained greater results than the
most far-sighted individual anticipated. l have
70 ratience with those ultra conservatives who
esse-; that we are not ripe for territorial ex-
,srs,on L Is true that we never contemplated
Iak,2s porto Rico or the Philippines. much less
,o.h but since the fortunes o. war threw them
or, q the d'cehox Of destiny It behooves us 20
,, the best we can with them. That is our
,la,n eu.y as a patriotic people II IS a great
undertaking but I doubt not that shall
rrove equal 20 II. Then. too. the acquisition Of
,hss4 new territories Is bound 10 stimulate our
trade and commerce.
.Wha,tve- may be said as 70 the ethics OF our
scouireraeu; Of this territory. there can be no
doubt that The cause Of civilization and progress
will Pc promoted thereby. That IS reason
enough for our action. This alleged departure
RON our territorial policy does not bother me.
N fact we have been exrlnsionists ever since
the time % Thomas Jefferson.
But cutting the war and is results aside. we
have been rnarvelously successful otherwise.
The drouth in Europe caused sharp demand
%, our surplus breads,ufs Just when We were
IN need e an outle,. our marufacturing IN
aus,ries are well established. and we have
trouble In anding market for Our overproduc-
,,on Take the iron and steel Industries as al
instance In $50 We Imported $1O00oo00 worth
O, steel and i-on. and exported only $4,000 coo
- s14O0OO00 worth To-day the figures are
cor,rle-elv reversed. and from our ore beds and
mills and foundries We export 70 every part Of
The globe IN nearly every branch OF industry
ue are today sellers where fifteen or twenty
wears ago We were buyers. TIE whole CONNER
c,al world s az our feet.
"Ths net results Of 1S97-9S bring TO our
credit the stppenious SUN of S6o"Ooo0"'
That has come % US In gold a0t in securities
better than roll During lS95-9i the balance
O., trade was only slightly in our favor. 50 ii is
no evageerat.or 20 say that we have at least
81 Oo0 100000 more capital than we had three
wears ago The month f November last shows
q greater amount " exports than the same
month last year and SO it goes all around
"It would seem 20 ne that we are just enter
,-g uuon an era ~ prosperity the Ike of which
We have never hnowu. tbs Slnppuoop"
speak q furnishes q safe basis FOR Si""p"Ve-
O00 q credit This Is an expansion Of finance
that Few people eyer dreamed of and very few
can appreciate
THE banks and trust companies Of this coun-
~ have loanel Europe So 0o0on0 The banks
of Chicago are sad % buy and 81 per cent
bonds 81 par and The heurs further West are
purchasing the commercial paper If their mer-
chants at remarkably low rates The return of