The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-01-03
REMARKS BY Mr.. GAGE.
The Country Was Never So Prosperous,
the Future Never Looked So Bright.


the Future Never Looked So Bright.
New York, Jan. Finder the head
Ing, Secretary Gage Confidently Hope
full the Times will tomorrow publish
an extended interview with Secretary
Gage, in the course of which he is
quoted as saying:
The coming of good times to our
country Is not now something intan-
gibie far off; our good times are right
at hand, dependent merely, altogether,
on our Willingness to worthily greet
them and keep them. Throughout the
length and breadth of our land bless
ings have been shoWered in bounteous-
ness in 1897. Some of us at the opening
of the year just ended presumed to be
hopeful, a few of us even To believe
that 1897 would see pathway of pros
perity They who are most optimistic
We're (by the test of results) still amply
conservative, and the accomplishment
Of 1897 makes d glorious contrast with
the dreary record of the Wrecking years
preceding.
The internal balance sheet of the
world was never before so favorable as
now to the United States-never before
approached such a favorable showing
for us. 1t is now no more the mere long
ing of a dream chat our country shall
become the creditor nation of the world.
That actually it is to-day. AS against
the tremendous purchase Of our COM
modlties, foreigners have sent us back
more of our securities. Ever since the
Barring crash, over half a dozen years
ago, Europe has been continuously and
largely unloading upon us her holdings
of American bonds and stocks Care
full students of the situation are per-
suaded that the limit to such liquida-
ten must by this time be Well-nigh
reached; but however this may be,
there certainly is warrant for gratifica-
IN hn don onTa-t ,p tod for hat
are not only able TO absorb what is
forced back on us, but are able to do
this readily-do it without any culver Of
embarrassment-wh while doing it,
is accommodating millionaire cash credits
to our account in every quarter of the
globe.
Some people are | believe disposed to
be peSsimiStic because great sums of
money accumulate in our banks They
urge this as sign of national business
unhealthfulness. Merchants and man
ufacturers, they say, lack confidence
and are unwilling to assume normal
responsibilities, and thus the country's
general trade has shrinkage threatening
it. After years that have been practi-
cally panic times, exceptional elements
enter into the business situation. And
the unparalleled volume of idle money
in the banks signifies, / think, some
thing very different from what the pes
simsts harp upon. More largely can
yet be appreciated these great totals of
bank reflect the liquidation of western
Indebtedness. What the Western peo-
Pile have accomplished during the past
year as payers of debts will, when We
can come fully to comprehend it, seem
to be fairly chapter from the days
of romance. The good prices for this
years crops went not to the middlemen
and spectators. Dollar wheat came
while wheat was yet on the farm, and
for the first time in many a harvest,
the markets profits We're the farmers
own. What the Western farm did.
what ii is still doing, accounts far be-
yond what yet Is understood for the
money which piles up in our banks.
That money largely IS the crop money
for 1897. and 1t has done magnificent
service in the eNtinguishment of liens
upon homesteads in every state. in
every community of our great West.
And is this unhealthful? is there any
reason fat repining in it? The West has
been paying back to the East millions
borrowed years agO-and during some
recent times. 1t was regarded as an eN-
ceedingly doubtful asset. This country
faces i'm 1898 the most inspiring situa-
tion known to its history.
Another factor having muca TO do
IN making the large sharing of funds
kept on deposit, rather than put ac
lively into base use, reflects newly de-
yelnped prudence among our people,
amid the East as well as the West.
Since 1898 1t has been so fashionable to
% poor that economy and caution have
become fairly a national characteristic.
The man who made money before 1893
hurried in nine eases out Of ten, 10 put
wat he gained into quick circulation.
\ change has been wrought The aver
age citizen who mas nrospered during
1897 is inclined 10 hold tight, for the
time 81 least, te his new surplus. Ii IS
act that he doubts the safety Of falling
INTO stop with the good times; II is not
,hlt hr has become "a droue. a mere alb
safher. bat apprec.atiNe Of recent ex-
5erionce. he chooses for n while 10 wait
our great bank deposits are not
menace. Tremendous Accommodations
SHOW a capacity 10 extend business
ines. they show that we are not poor,
8ai financially powerful. The country