The record-union., 1899-08-28
WITNESSES TO PROSPERITY.

are in the nigh degree WhaI theE
should be, the trade papers of the ma
ton with more dignity of insistence,
tell US that a splendid wave of pros
perity is with us.
The New York journal Of Com
merce" says: "It would be difficult to
exaggerate the degree of prosperity
which the country is now enjoying" IT
warns the people that it is prudent 10
remember that the rate of increase in
the volume Of business in the past few
months cannot be indefinitely contin-
ued, though there are few clouds upon
the commercial sky and though there
is the utmost confidence in trade cir
cles that existing conditions will last
for some time.
OF course the rate of increase in the
volume of trade cannot indefinitely con,
tinue. No one expects it. 1t would
be unnatural to think it. For there
is a limit to any rate of increase. But
this does not mean that there is to be
necessarily recession. Fluctuation we
are to expect, of course, but that the
prosperous trade conditions of to-day
are unnatural no one will contend, ex-
cept the hopeless pessimists.
The Literary Digest" the business of
which is to review the expression of all
leading journals and present typical ex-
tracts from their estimates and edi-
torials, says; THE business outlook
in nearly every field of industry, the
country over, seems to be one of unex
clares that business troubles have de-
clined to the minimum and it adds:
1t may we'll be considered a special
index of the widespread activity in
trade during the period under review to
find that business embarrassments for
the FIRST half of 1899 make just as fav-
orable comparison with the preced-
ing periods as did the record of the
first quarter of the year.
'Dun's Review shows that the
amount of liabilities in failures in the
second quarter of the year, was smaller
than in any previous second quarter for
twenty-five years. 1t is added:
Wages in almost every line of indus
try have been advanced, and in many
instances a second and even a third
advance has been made since the be-
ginning of the year. The deposits and
loans of the banks as we'll as their
clearings, the activity of all manufact-
uring plants, and the distribution Of
goods from all centers, afford evidence
of a degree of prosperity that has never
been exceeded and in which there is
so moderate an element of speculation
that it is reasonable to expect it's con-
tinuance for a considerable period.
The Digest" says that the Southern
papers generally show that the COM
mercial uplift has reached that part of
the country, and that railroads, fur
naces and other industries are in a
thriving condition. The "Tradesman."
Chattanooga, Tenn, declares that it
could fill three pages Of his journal with
proofs of Southern prosperity.
The American Grocer says:
There has not been period in years
when the retail grocery trade was SO
free from the influence of the cutter as
at present. Few complain, and such
as have grievances find that in nine
out Of ten instances the fault lies with
themselves, and not with the general
conditions.
The Digest" furnishes US still other
witnesses to prosperity:
THE American Wool and Cotton Re-
porter" (Boston) says of the dry goods
and clothing trade: mot in years has
there been such an influx Of buyers in
the cities of New York and Chicago as
have come during this month. Among
them are many men who have not gone
to market to buy goods for a long time
The travellers are all at home and
are kept busy selling goods in the
house daily The Industrial
and agricultural conditions throughout
every section of the country seem to
warrant fully the belief, so widely pre-
valertt in the clothing circles, that busi-
ness will be exceptionally good in every
section of the country this fall and WIN
ter. The boys clothing houses
are doing the biggest business in their
history
1.-THE Textile World" (Boston) says:
At no time, except Immediately after
the passage of the present tariff law,
has the wool market been in such an
excellent condition as it is now. for
sustaining prices. The supply of de-
sirable wool is quite within the limits
of the demand, if it does not greatly
fall short of 1t, not only in this country
but abroad. This condition has been
growing for the last number of years
especially in relation to the supply OF
fine wools. The cotton situa-
tion, as regards the raw material and
manufactured goods, is in a fairly sat
isfactory condition, especially for the
latter" =
AS to the cause of our present flood
tide of prosperity, The Textile Rec
ord" Philadelphia) AYERS that it is due
in great part to the presence on this
side Of the water of large quantities OF
gold: 1.-THE prosperity of this nation a!
the present time is not only gratifying
in itself. but it may be made profitable
for instruction if the people viii regard
ii in the light of certain theories which
in the past they have been invited to
accept. 1t has long been a favorits
doctrine Of the free traders, for ex-
ample, that nation must be better
off with the balance of trade against
1t than with the balance in its favor.
The argument advanced in support OF