Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1899-01-12
NOW AND HEREAFTER.
Prosperity In Present. Naturally, But
Undated ya1ues VIII Result
and Panic Follow.

Unquestionably the people of the
United States were more prosperous On
the whole during the year which has
just closed than they were in 1897 or
In any year since 1892. The bank clear
ings were greater than in any previous
year, indicating a greater aggregate OF
transactions. The foreign demand for
cur products Of agriculture, extraordi-
nary as it was in 1897, was not less,
though prices were somewhat lower,
in 1895. The cotton crop of the year
was the largest ever produced and
growers were fairly prosperous, though
they received less per pound for their
product than in previous years. The
exports Of manufactured articles were
Of greater value than ever before, and
for the first time in the history of the
country exceeded the value OF like IND
ports. Business failures were fewer
and the liabilities of the failed con-
Germs were less than for a number Of
years. In short, there were abundant
evidences of recovery from depression
and a return of general prosperity.
Partisans of a certain variety lay it
al to the republican party-to the
DIngley law, which was a republican
measure; 10 the triumph of an alleged
gold standard candidate in 1896, who
has done not thing to insure the main
tenance of that standard. and even TO
the war with Spain, for which President
Mckinley has not yet claimed all TIE
credit and which has been a consider
able tax upon the earnings of the pep
PIE.
Such is the politicians view. The
business view. as expressed by Brad
streets and other commercial agencies,
is that the country has been prosperous
net because of but in spite of the war;
not because of anything that party poll
ticians have done, but because of favor
ing conditions upon which party poll
cles and schemes have had no influence
abundant crops and extraordinary
foreign demand for our surplus aud
the natural processes of recuperation
after a period of depression.
And the business view is the right
one. The time had come for recovery
from the prostrating effects of the col
lapse of 1898, and recovery began. 1t
began, indeed, in 1897, having been
FASTENED by an unusual shortage in the
prod uction of foodstuffs abroad. 1t was
continued in 1895 with further accelera-
ton from the same source.
How little the politicians have had to
do with it we may gather from the
parallelism between the periods of 1898
90 and 1S73-7s. In 1873 there was panic
az disastrous as that of 1893. 1t was
followed by depression and distress SO
great that many despaired of recovery
and came to believe that the country
lad passed beyond the stage Of rapid
development and would have TO settle
down to the slow pace of the older coun-
tr1es. But in 1877 81 gns Of recovery ap-
reared. and in 1873. when congress sent
out commission to find out why times
were so hard, the discovery was made
that times were not hard, but that the
Lsople were doing very well indeed.
In like manner we heard despairing
cries IN 1895 and 1896, and many seemed
really to have given way to the comic
ton that the country could never more
be prosperous. But recovery began. as
above stated, If 1897 and continued IN
til now, just as in 1877 and 1878. when
II ere was no war and no shifting of
PARTY control.
If the parallel holds for the future
a il has done so far the new year viii
he happier than the old. The country
viii grow moro prosperous until 1902;
then a pause, ending in semipanic IN
1904: from that on a fuctuating but
generally improving condition leading
mp to inflated values, and another panic
about 1913. But let US hope that some
economic discoverer will arise to save
us from another catastrophe at that
t.me.-Chicago Chronicle.