Omaha daily bee., 1899-01-20
PROMISING BUSINESS CONDITIONS.
Marked Evidence of General and Sub
stRntial Prosperity.


Philadelphia Times.
The business conditions Of this country
were never SO promising for general and
substantial prosperity as they are at pres
ent The growth in industry and trade and
the rapid increase in values are not the re-
suit of mad imitation. They are the logical
outgrowth Of the strong financial condition
| Of both our government and people.
This country now for the first time holds
the largest amount Of gold of any nation
in the world, and our public and private
credit is unsurpassed. Our exports i'm
mensely exceed the average amount Of our
supplies to other nations and the balance Of
! trade is enormously in our favor. These
are conditions which are inseparably con-
nected with the prosperity Of the producers
OF the land, and when they are prosperous
the whole people are prosperous.
The bank statements of New York. is
sued on Saturday, show that the banks OF
our financial metropolis hold $237 PA 800,
being the largest amount ever held in the
| history OF the city. The bank clearings
for the week were $1,251, ,9O4, $3.50, the largest
ever known. The deposits in the banks con-
! nected with the clearing house alone
amount to $685., 1906, 700, an increase of nearly
| So, 600, 0G0 in a single week.
The accumulation of money in the great
| financial centers of the republic does not
always indicate a prosperous country. In
| the severe business depression OF several
| years ago, money accumulated in business
| centers because the people had neither the
| credit nor the opportunity to invest 1t
profitably, but today the Investments are
larger than ever before known. The sale
| of stocks and securities on the New York
stock board last week were unexampled in
| volume, and yet with all this great alb
| sorption Of money in stocks and bonds
! and speculative ventures there is q very
large surplus of money in all the leading
! cities. 1t means that we are so largely
earning in excess of our expenditures that
it will require a Hoodtide of imitation to
| produce a stringent money market.
Thus far the advance In the prices and the
development of new enterprises have been in
the line of healthy progress. There are
! plenty who say that securities are too high
because :hey command higher price than
they did a score or half score of years ago
in prosperous times, but they forget that the
6 per cent standard Of the value OF money
accepted only half a generation ago is now
reduced to the standard OF 3 or 3h per cen.
as fair return for money. 1t was the high
rate OF interest that exhausted the resources
| OF :he producers OF the land and brought
millions Of capital here from abroad for in
vestment but today money is cheaper in
New York than it is in London because we
have the superabundance that they once had.
Everything now points to a season OF most
substantial prosperity and there is not now
even cloud as big as a mans hand on the
business horizon to indicate the possibility
of revulsion. There Is danger OF reaching
the point OF reckless imitation, but that has
not yet been approached and until 1t does
come the general business OF the country
may be regarded as based on the most sub
stantial foundation. Our country has today
every possible element OF prosperity for all
classes and conditions, with every indication
that 1t must endure until some great failure
of industrial products or wild imitation in
speculative circles shall halt the highest
tide OF the most healthful progress the
nation has ever known.