The herald., 1898-12-29
WHERE IS PROSPERITY
IT HAS ONLY ATTACKED ONE
CLASS OF CITIZENS
BANKERS AND CORPORATIONS
"The Slaves of Old Boasted of the
Riches Of Their Masters"-The
Condition Of the Poor

| HeTald.) L asked a thoughtful and con-
servative man today what, in his opinion, is
in the claim that 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, "who de-
ceives himself as to what his house or firm
is doing realizes later, when the trial bal
ance is off that he has made mistake. And
| yet how many people there are who go on
deceiving themselves. The man of we'll
balanced mind always wants to know the
truth, and succeeds better thereby. And so
it is with nations. The people may deceive
themselves as to their condition, or they
may be good of judgment, realize their ex-
act condition and build wisely by doing so.'
He paused moment and continued: There
is Spain, an exaggerated case of a people de-
ceiving hemselves-deceived as to their
strength, the business of their cause, and the
awakening is, to them, all the more dread
! full. Whereas, if they had had correct esti-
mate of themselves they would have Jared
better and their fall would not have been
so hard. What Spain has done, in an exag-
gerated sense, all other nations have in
part been guilty of. Are we deceiving our
selves as to the existence of prosperity, Is
question which all men should consider.
That there is prosperity, unusual, in some
directions there is no doubt
| CORPORATION PROSPERITY
He reached over on his desk and pick
| ing up New York Sun of the 18th inst,
| handed it to me and asked that l read an
editorial therein. / did so and here it is:
''The announcement today that the
directors of the Fifth Avenue bank had
| declared a regular quarterly dividend
of 20 per cent and an extra dividend of
| 5 per cent, payable on January 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 its
shareholders 100 per cent upon the par
value of its shares. Though the divi-
dends as declared represent but 80 per
cent regular, the declaration of an ex-
ira per cent has been the rule at each
quarterly declaration, so that rs per cent
has regularly been paid each quarter.
The First National bank of this city
regularly pays 100 per cent in quarterly
installments, and the Chemical Nation
al bank pays $50 per cent in bi-monthly
dividends"
As | concluded reading the editorial from
the Sun he said: Now, there is prosperity
The Pullman Palace Car company has de-
clared' dividend of $4,000, 600; the Sugar
trust $20,000,000 the Standard Oil COM
pany, $5O000, ,OOO-recently. Stocks of all
corporations have advanced largely. All
these are signs of prosperity. And there are
individual instances of it. Mr.. Day of Ohio,
eX-secretary of state, it is said, is about to
receive $4,000 for three months service at
Paris. Had Mr.. Day retained his office of
secretary of state, under the law, he could
not have drawn two salaries and would have
had to be contented with the unprosperous-
like sum of $4,000. These are all evidences of
prosperity, and with CONNIE ndable national
pride we are apt to boast about it, he con-
cluded, looking at me over his glasses.
WHAT OF THE POOR?
"But is it." / asked.
"Well, let's look at it again." he said.
Here is letter on my desk from philan-
thropic society that fed 1900 poor people
Yesterday at the Waverly theater in this
city. You will notice." he continued, hand
ing me the letter, "that it says this society
fed on Christmas day, last year, 5000 OF Chi
cago'si poor, but that destitution has SO in
creased that it hopes to meet the demand
this year by feeding on Christmas day $4,000.
Christmas has now passed. and the papers
tell us that the expectations of this phian-
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 to accept alms-to eat crumbs from
Of prosperity; and it shows an increase of
nearly double over that of last year! Has
prosperity returned? Are we being fooled,
OF fooling ourselves? 1t is serious ques-
tion''
THE PRODUCERS
Picking up circular from his desk he
went on: Here is a merchant who wants TO
sell me the best linen collars at retail for 9
cents that formerly sold for 25 cents The
producers of the linen in those collars and
the manufacturers who make the collars
must be getting very little. We also know
that cotton and cotton cloths are cheaper
than ever known. Also farm products con-
tinue low. | can hear of no one who thinks
that the producing classes are more pros
porous than they were year SINCE They
may be, but observation will hardly warrant
that conclusion. So, when you ask the oues-
the answer you will get will depend on who
is answering the question. If it is one of the
bankers in New York who is receiving 100
or $50 per cent annual dividends, on his
stock he will answer you, yes. If it is men,
Der of corporation that has declared $l8S
000,O 900 or $5O, 600 dividends, his opinion
will be that the country is prosperous And,
should say that Mr.. Day, with $lO0, ,OOo for
three months work will feel prosperous, and
thus answer you. Not one of them has
caused single blade of grass to grow where
there was none before-they produce moth
ing! They are money changers, handle that
which is produced by others, and the office
holder who is paid from taxation They are
prosperous! Ask the producers, the bus-
ness men, the farmers, the manufacturers
the tradesmen, the bone and sinew OF the
country, who plow the ground and SOW anu
reap our harvests; those who make 'i'".
which we wear and that which adorns our
homes; who quarry the stones that pave our
streets: the actors VINO make our people
laugh. or instill great lessons on their minds;
the ministers. lawyers doctors and others,
;f ,,rosn,ar;tv has returned, and the answer
is discouraging.
INVERSE PROPORTION
ARnto asked, Twill not these men who
are making so much money spend it with
the people" H.,
"Ah. there is the rub, " he replied. ''Their
actual necessities are few Only tithe of
their income is needed to supply their actual
,rarte The purchasinU potver If thesa