The Redwood gazette., 1902-12-24
.PROSPERITY'S ZENITH.
J.J. Hill Declares That Reaction Must
Follow in the World.

Chicago. Dec. i 2 j anes j Hill
says that prosperity in the United
States has reached its zenith and
that the re,rograde movement is
near at hand, fit has not already /
begun. The crises may be FASTENED,
says Mr.. Hill, by the trouble in
| Venezuela
Men who know Mr. Hill best have
always regarded him as an optimist.
in finance His words, therefore,
are considered as having a PEI uliarg|
significance at this time. New York
| capitalists, he says. fear that the
United States will be. drawn intoI
war with either Great Britlan or
Germany or with both He points
to the recent .'slump in stock and
the sick condition of the money
market as a demonstration of the
| way these fears have tason a
hold OF Wall street. He says that
men in debt have been forced to as
sumo new and heavier obligations
| and thus pay for benefits that they
have not reaped. In the end. Mr..
Hill says, they will be caught be-
tween the upper and MIDDLE mill
stones, where the bear will squeeze
| them.
II am not one Of those fellows
who cross their bridges before they
get to them 'alarmists, Ilhink you
call them, said Mr.. Hill to night.
| [ am disposed to be cheerful about
most things, but [ can't see any
thing in the present financial situa-
tion to cause me to do any rejoicing.
| Things look serious. They are bad
already and what's more to the
point they are destined to grow
worse. This country has reached
the top of its prosperity. If the
serious downward movement has
not already begun it is not far off
''There are more reasons than one
for this. Chief among them is the
uncertain state of mind in which
men find themselves from day to
day. Uncertainty is the worst
thing on earth for the moneyed in
terests of the country. They fear
the United States will be drawn
Into war with England and Ge'-
many. This ties things up. Ex-
cessive rates are demanded on mon
ey. The men who are long on
stocks get panicky, and as result
the market slumps off.
Look at the way prices have
fallen in the last two or three days.
Some one has to suffer when these
things occur. Just at present the
future is dark to men who are in
debt. In my opinion it has not
been so dark in years.
"The Venezuela trouble has
| ''jarred' the money situation in the
United States. Things we're just
ready to topple before the trouble
came It wasn't necessary that
anything half so serious should
have occurred to precipitate a cri-
sis.
Zone does not need to look to
| Wall street for support of his opin
ion. Tight money is not felt there
alone. The manufacturing districts
are suffering already. Their suffer
ing will increase as things grow
worse.
| ;'Good evidence can be found, too,
among builders. Where they were
receiving orders for five buildings
year ago they are lucky if they
are getting one today OF course /
am not saving that my opinion is
held by everybody in New Yo,k k.
Probably good many men who
have positive ideas about things
would fatty contradict everything
| have said, but there are many peo-
/ pie in New York and elsewhere who
agree with me-
/ A ten-cent quality of tobacco is
found in the American Girl five cent
| cigar sold exclusively by F. L. Peter
sOn. 13-tf.