The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-09-02

canoe OF the steel FAMINE WnlCn
has affected the various indus
tries of the country to such
marked degree, the Washington Star
says:
The steel famine reveals a signifi-
cant condition among the people of
this country. 1t is primarily caused
by an unprecedented demand for all
kinds of structural steel, for bridges,
buildings, railroads and ships. This
demand in turn indicates that a vast
amount OF capital is being expended
in all these enterprises. Investors are
erecting great buildings because they
seek a means of profitably laying out
their idle money. They are putting
ships on the ways because the carry
ing trade is booming and there is q
great need of vessels. The railroads
are penetrating into new territory and
therefore need bridges to permit them
to reach freight centers hitherto unat-
tractive This means that the farmers
are finding a market for their products
and that manufacturers are locating
in new places. In the cities street
railroads are being built because there
is a greater demand than ever for
rapid transit People are going out
into the suburban areas to build and
buy homes and must have means of
ready access. This means prosperity
among the people, who are enjoying
the fruits of the tremendous CONNER
Ventured to spend their savings in
property because they are getting good
wages and expect that condition to
continue. And SO while the steel MAX
ers are straining every nerve to find
sufficient skilled labor to permit them
to meet their orders and thus directly
benefiting certain classes of workmen,
their profitable predicament reflects a
generally prevalent condition. Nir-
tually all the trades are affected.
Wages paid ahundantly in one partcu-
lar line find their way into other lines
in proportion as the wage -earners feel
the influence of the prosperity and
grow confident and begin to spend.
The circulation of capital, which is al
ways Choked by apprehension, Is slim
ulated and every artery and vein in
the whole social and industrial system
feels the benefcent effect. The secret
of the spectacle is that the people have
confidence. This Is no wild plunge.
Investigators are spending their mill
lions at random, with the chance of a
sudden reversal of conditions and con-
sequent loss They feel THAI their rail-
roads, their trolley lines, their ships
and their office buildings ana hotels
will continue profitable as long as the
industries are active and the people
are well paid and have faith Some
times American prosperity depends in
measure upon foreign calamities.
such as failures of crops, which send
rush Of orders from abroad for our
wheat and other food products. In the
present case however, the greater part
of the commercial activity is due to
the increasing foreign demand for
American manufactures, particularly
in the very fine line of steel and iron
which now dsClOses the domestic con-
ditiOns so accurately. This is no cal
amitous cause. likely to disappear, but
il is the result Of substantial condi-
tions. The governments credit is good
and is at present unmenaced by de-
structive changes. The people are in
the main thoroughly satisfied with ex.
listing circumstances. There is no
threat in the air and hence the won,
d@rful and yet natural prosperity con,
tinues unchecked, The faith of the
people is indeed vital factor in theil
own welfare.
This state Of affairs is also true o
the Lackawanna valley and the sill
industry has already become one of tn,
most important Of Scranton and vicin
ity and almost daily in these days o
returned prosperity one may hear o
new enterprises in this line that ar
In contemplation or fully under way
The most difficult task before tn
Democratic orators this fall will b
that of convincing their hearers tha
the country is stll in the grip Of har,
lines