The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1899-11-03
ENDURING INDUSTRIAL PROS.
PERITY.

The iron interests Of the country are
the cornerstone Of general prosperity.
when the iron industries are generous
ly employed there must be- very gen.
cral prosperity throughout all the in
dus,ries of the land II is the one great
industry thar is most Immediately af-
fected by any change in our business
conditions, and great demand for iron
/ products can come only when there is
/ a general employment to labor, general
/ profits in all commercial and business
enterprise. ana general prosperity for
( oar great transportation lines.
The most conclusive evidence that
has Vet been given Of the general and
/ enduring prosperity OF the country al
I this time is found in the remarkable
announcement recently made that L.
/ 50O,00l tons OF steel rails have been
I positively contracted for to be deliver
ed during the year 1900 at $SS per ton
When steel rails were less than so per
ton the railroads Of the country could
not afford to buy them. as business and
industry were generally depressed and
transportation lines were thus deprived
Of large measure Of their general
profits; but now when steel rails COM
mand SSS per ton, the largest order ever
given in the history Of this country has
Just been made by our railroads. The
fact that the contract GOV .rs the peri
cd Of the whole next year proves
cOnclusively that,our best advised bust
ness and financial men are entirely as
sured Of continued improvement In all
industrial channels.
BY great combiation Of capital and
economy In product this country can
now produce iron or steel and undersell
other countries in the markets Of the
world. The great Siberian railway. Of
Russia, is laid largely by steel rails
from Pennsylvania, on ties taken from
oregon. and its trains are drawn by
American locomotives. Only recently a
Philadelphia iron firm astonished and
appalled, the English iron men by under
bidding them for an important bridge
in Egypt where military necessity COM
pelled its speediest construction; and
our iron pipes are now furnished 10 al
most every country in the world. AZ
ter all the great market for our iron
and steel products is at home, and when
our railway can contract for 1,j0O. 900
tons Of steel rails, giving more than a
year for their delivery, and involving
an expenditure Of some $50. 200, ,OOO the !
lesson is conclusive that we are today
general industrial, commercial and
trade prosperity than at any time in i
the history Of the past.
When industry and trade are pros |
porous our railways keep up their lines !
and equipment steel buildings are
erected in every part Of the country, .
bridges are constructed whenever need (
ed. and every branch Of business prog
rsss gives bountiful markets for our
iron and steel; but when business de-
preston comes, railroads halt the i'm
pTovement Of their lines and machinery,
buildings arr limited to extreme neces-
sites the erection Of bridges is halted,
because iron is the one product that
can he delayed Cor more favorable
financial conditions.
Those who are theoizing on the pres
ent prosperity Of the country as ephem-
aral and likely 10 perish in panic any
day should look the facts in the face
and understand that at no time in all
,ur eventful history has there been such
evidence Of the most sub
'Jantial and enduring prosperity for
The whole people Of the United States.