Arizona republican., 1898-12-17
WE OUGHT TO BE HAPPY
So Says Roswell p. Flower, and He
 Gives fhe Reasons.

 been known as one Of the most pro
 ncunced believers in the permsnen. character of the recent improvements t2 in business, in an interview set forth , the grounds for his optimis ic crini h.
 as follows:
 ''This has been remarkable year in many ways. We have waged a speedy and successful war. We have, gainad greater results than t,le most far-sight ed individual anticipated. I have no Ipatience with those ultra-cCnservatiYa who assert that we are not rips fer ter ritorial expansion. It is true that wa never contemplated taking Porto Rico CT the Philippines, much less both, but since the fortunes of war threw them out of the -idicebox of destiny it be- hooves us tc dc the best we can with 1 them. That is cur plain duty as pa l triCtic people. It is a great undertak- ing, but doubt not that we shall prove equal to 1t. Then, toe, the acqu;siticl Of these new territories is bound to stimulate cur trade and commerce.
 "Whatever may be said as tci the ethics of our acquircment of this ter ritory, there can be no doubt that the cause of civilization and progress will be pnamoted thereby. That is req ECn enough for our action. This allcgd q departure from our territcrial policy does net bother me. In fact, We have been expansicnists ever since the time of Thomas Jefferson.
 But, putting the war and it's results aside we have been msrveousiy sue cessful otherwise The drought in Europe caused q sharp demand for our surplus breadstuffs just when we were in need of an outlet. Our manufa9t- uring industries are we'll est5 blished, and we have no trouble in finding a market for cur oveTprCducsi0n Taza the iron and steel industries as an in stance. In 1870 we inpcrted $50,C00.- 900 worth Of steel and irCn, and export ed only SIP 100000 to S14,000,000. To day the figures are completely reversed and from our ere beds and mills and foundries we export to every part of the globe. In nearly every branch cf industry we are. today sellers, where fifteen or twenty years ago we were buyers. The whole commercial world is at our feet.
 ''The net results of 1897-'9S bring to our credit the stupendcus sum of Sj,- 900, 900, ,O000. This has come to US in geld and in securities better than god. During 1895-'96 the balance Of trade was only slightly in our faTCr, so iG is no exa xaggeration to say that we have at least $1,Q00, 100000 more capital than we had three years ago. The mo1th of November last shows greater amount of expor,s than the same month last year, and so it goes all around It would seem to me hat We are just entering upon an era Cf p-os- perity, the like of which we have never known. This S1,000, ,000, ,000 I speak of furnishes a safe basis fer $400Q, 100000 of credit This is an expansion of f. nance that fsw people ever dresmed of and very few can appreciate.
 '"The banks and trust companies of this country have leaned Europe $75,- GOO ,000. The banks Of Chicag2 are glad to buy and 31a per cent bends at par, and the banks farther west are purchasing the commercial paper CT their merchants at remarkably lcW rates. The return of cur money from Europe would cause such a reduci1n in the rate of interest that people would seek any kind of 6, 5 CT even 1 per cent investment, and put it away in their strong boxes. It should be rCmembcr- ed that heretofore these same people
  them less than 51a or 6 per cent. The action Of the saving banks in reducing their interest rate will, in my Opinicn, cause many depositors to withdraw their savings and seek other invest ments."
 Ex-Governor Fowler sounds th,s ncte of warning: T look in the com ing year for a larger crop 0f wildcat | schemes. They will present them l selves to the public in the usual allur- | ing forms and will spring up in all l parts of the country. My advice to the masses is tct invest in established | securities, either industrial or railroad. |
 ''As for the silver issue that is dead | wherever prCper.ty prevails. Th2t is- | sue CT any other currsncy issue can | never be popular where times are good | and distress has gone. It is an issue ! that follows poor crops, unpTOf1table prices. commercial failures and bNsI ness stagnation. Take thcss away and the currency issue hasn't 2 leg to, stand on.
 ''That is what has been going on since 1896, when the issue was su- preme. The election of Mckinley was net a deat hblow to free silver; it simply bridged the chasm. But it's real death blow came with good crops higher prices and a renewal Of industrial a2- tivity. Wherever these conditions nave manifested hcmselve5 the silver issue is nCa only dead, but it's very ghCSt has vanished.
 "Good times are Ike healthy, Wei trained body-they give no cpportun- ity fer breeding over imaginary ills; and when the tide Of prosperity which is now rising shall have spread more generally throughout the country, then we ought to be the happiest and most prcsperous peeDls in the world"