The times. [volume] (Richmond, Va.) 1890-1903, 1899-09-28
THURSDAY. SEPTEMBER 2' 1899


GENERAL PROSPERITY.
Yesterday we spoke Of the prosperity
NJ Richmond. Let us now take a s''"0e
- The evidences of prosperity In other
It and I'm all parts Of this country
This is wen summarized IN BONDS ana
Mortgage" n financial publication Oh
chicago. Il SAYS that everywhere are
.,a Of a cumulative movement in M
a,s,rv and finance. From
movss Games the report that the English
government has placed an order Tor hVe
hundred million feet Of lumber to be oe-
lvered at Gulf ports. being the largest
single order for lumber in the history Oh
tho world.
From Kansas comes the report that a
general freight agent has recently sald
that II he could borrow or buy 1906
freight cars he could use them all.
In Iowa. Kansas. Nebraska, Southern
Minnesota and South Dakota women are
working in tho harvest field, not because
there is lack of money TO pay for help
but because harvest hands are not TO be
had even at s. per day.
The total bank clearings for the year
are the heaviest on record, and it Is not
necessary TO tell the readers of The Times
about the wonderful boom in tho iron in
dustrv. Pig iron, which a little while
ago was selling for 81 per ton, is now
selling for more than three times hat
amount.
- A.. Hfrrut ora augruo0nc
II IS said that the corn crop of Nebraska
this year viii be in the neighborhood Of
2o0.Oo0.O0O bushels. and the prophets oil
Kansas are claiming that the corn crop
Of that State will be quite as large. Kan
sas is already in a prosperous condition,
and the proceeds Of this years crop VIII
cancel mortgages and put a large sum
OF money into circulation. An expert In
81. Louis says that il win require 5000
ears TO move the crops gathered along
the principal railroad outlet for Kansas
corn.
The increasing price Of meat viii stImu-
late stock breeding, and corn. which has
IN other years been used for fuel, will now
he fed 10 stock and thus converted into
cash. It may be mentioned right here
that there - stl an enormous demand
abroad for American cereals as shown In
the export figures that are printed from
week 10 week.
Workingmen are getting their fun snare
Of the prosperity that has come. They
arc not only working ON fun time, but
according to Dun's report last week
wages have advanced from 10 to u per
cent. Bonds and Mortgages makes this
interesting calculation: Estimating the
earning capacity AT a gain OF Joe. per day
Ter capita and the 100000 people in the
United States have 100000 a day more
spending money than last year, or S22S.-
ooo.co0 more q month. Cut the estimate I'm
two and the people stl have Sl0,ooO0.O0
a month more than ever before with which
70 supply their wants. and tho addition OF
that sum spent for luxuries and necesss-
ries would be sufficient 90 account foI the
activity which is apparent on am hands.
since This publication In Bonds and
Mortgages appeared, there has been q
sensational rise In the price Of raw cot
ton. and il is now predicted that raw cot
ton viii soon 90 up TO z or even l-2c. per
pound. This g. the more gratifying be-
cause tie rise comes az a time when the
farmer are marketing their crop. II has
TOO often happened that cotton was cheap
at the beginning Of the cotton season. the
rise coming after the farmers had dis
posed OF their stun. But This season the
farmer viii get the benefit OF the increas-
cd price. and II the cotton crop Of the
South can be sold Tor lie. per pound.
prosperity In this section Of the country
VIII be equal to that OF the West.
One Of the best signs OF the times Is
that 10 spite OF the prosperity that has
come speculation Is quite ccnsei alive. In
nush times speculation usually runs wild
and too often goes 10 such extremes as 10
cause Q setback But this time IL is spec
u,stion that has had a setback and for
The very good reason that there Is such a
demand for money In legitimate trade as
10 leave short rations for the Spectator.
There has been a 'squeeze' In Wall street.
hut no scarcity OF money in business CIR
cles. and while the Spectators have had
10 nay as high as II per cent. sometimes
"a, money the rate has not gone beyond
ard per cent. for mercantile paper.
the situation - as strong as 1t w~r
ccuis b Business conditions are healthy,