The sun., 1901-01-03
THURSDAY, JAN. 8, 1901.
.slnNs oE PROSPERITY.

the United STATES eHJoSIhS phVhoe |
prosperity. with the signs of the times
pointing with assuring positiveness TO
continued and increased industrial and
commercial prowess. With an assured
financial and economic policy, with the
practical control of the home markets,
giving employment to our own people ana
thereby making and fostering the best
domestic market in the world, and with |
the growing demand for American pro-
duets in the markets of the world, there
seems to be every reason why Americans
should anticipate an epoch of uneXampled |
prosperity to mark the history OF the
Twentieth Century. This at least is the
expectation Of American statesmen ana
6nanciers. The turning of the world
viae.consumers to articles of American
manufacture has been accomplished py
a similar turn of affairs i'll nationai
finances. in the negotiation of European
loans in this country, and American
tinanciers are anticipating the time when
America will become the leading creditor
nation of the world. I he great prospects
in state craft lead in the same direction
The Isthmean Canal to make snort
route for American commerce to the
Orient. the Pacific telegraph cable to
facilitate commercial business inter
course. and the rebuilding of the Amer
can Merchant Marine, are each and all
enterprises urged at this time as abso-
lutelv necessary to meet demands of the
near future which could he met success
fully in no other way. OF the signs Of
prosperity the New York Tribune says:
Industrial America enters the new cen
tury with every prospect favorable for
continuance of the prosperity which she
has Of late enjoyed in such generous
measure. The success of the Republican
policies in the recent National election
made it certain that the United States
would in the life of the incoming Ad-
ministration continue on IA gold basis,
and that her business men would be free
in that period to put forth their best
efforts to, deyelQp ytraae AND eqmhmqssrEetr
that confidence which is the foundation
of permanent prosperity.
The close of the year and the century
finds the country prosperous in every line.
The crops have been abundant in 1900,
bringing wealth to the farmers and large
returns to the transportation companies.
The export trade has advanced with giant
strides until the United States now
stands first in the list OF exporting ma
tions. The expectation of American steel
Just ended, and great foreign demand
for other American steel products also
has developed, as well as for American
coal railway rolling stock and other com
modites. European nations-Great Brit.
ain, Russia, Germany and others-in 1906
sought the aid of American finonciers in
placing their loans, and New York City
made detinate advance toward the place
which competent students of interna-
tiona finance predict for her, that Of the
financial centre of the world
The new idea" in railway manage
ment, community of ownership" has
been more and more widely exemplifed in
1900, the latest example being the perma-
nent harmony recently established be-
tween the Great Northern and the North
ern Pacific and the effect is seen in the
enlarged earnings of the railroads through
maintenance of rates, srpplementing the
normally heavy receipts due to the vast
volume of business offering--for the cry
everywhere is for more cars. As the
corporations have advanced in prosperity,
their capital stocks has naturally come
TO be in increasing demand, and the trad
ing in those securities on the local Stock
Exchange has risen to enormous proper
tions. Investment purchasing has been
the feature Of these transactions, move
ment rejecting the popular confidence in
the stability of present conditions: and a
large number of stocks have made new
high records Brokers who ut the begin
ming of the year thought 100000 Il high
price to pay for membership on the New
York Stock Exchange are now glad to
pay $4,000 Money continued easy up ia
the very close of the year, in striking con-
trast to the conditions prevailing in form
er years at this season and despite the
fact that provision had to be made for
the disbursement of between $780, 900, 900
and $175,OO0,000 in interest and dividends,
representing obligations of the Govern
ment and Of the industrial and railroad
corporations and financial institutions. on
january 1.-The payments to he made
in New-iork City alone aggregating
$1O9, ,6SJ.
There is every element Of cncourag re-
ment and every reason for rejoicing in
this analysis of the outlook upon present
conditions. No one but Il confirmed pes
simist could find cause for complaint or n
lodgment for prophecy Of evil. Surely
no one truly American. whose politics
are dominated by Il patriotic love of his
country and by humane desire for the
welfare Of his fellow man, could wish for
revival of these conditions. or for
disappointment Of the anticipations the
conditions excite. Our Democratic
friends who are predicting Republican
failure in national administration who
hoping for such failure are working for it