The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1902-07-11

III pOHCls HEerEE L.lFsfL
And all that beauty, all that wealth
r gave.
A wait alike the inevitable honr,
The paths of glory lead but to
the grave"
aSome village Hampden that with
dauntless breast.
The little tyrant OF his fields With
stood,
Some mute, inglorious Milton, here
may rest,
Some Cromwell guiltless of bis coun-
try;s blood
Surrounding me were remnants OF
the Grand Army of the Republic-old
men who had seen service in the re-
bellion. paying tribute to the memory
of dead comrades and as l looked
upon them and saw how certainly
the lustre --of the eye was becoming
dimmed thought of the great re-
sponsibility that rests upon you and
/ and soon must be handed down to
our chilrden-that of keeping ever
bright the good name of a nation they
kept from dissolution.
We are living in a very swift age.
Business conditions in the immedi-
ate future are not likely to be as
favorable as they have been in the
past. We have had a phenomenal
experience. We have had, generally
speaking, large crops of agricultural
products of all kinds at a time when
the world has needed them. BY COM
ibinations we have been able to pro
duce manufactured goods at a price
that has commanded the markets OF
the world. Our farm lands have
thrilled in value. Our cattle are
selling at high tide. Railroads are
taxed to their limit to take care of
their traffic. Factories are running
almost day and night. Speculation
is rampant. Oil companies are bob-
bling up like toad stools in a clover
pasture. Mining stocks are soaring
with the geese with only a prospect,
behind them. Nine-tenths of the
people of this country have their
bands on their pocket book and are
looking for something to buy. In
the language of the apostle I am
lead to inquire s'how long, Oh Lord,
how long will this boom last.
Two Irishmen had heard of the
wonderful activity of this country
and resolved to come over and see
for themselves what vas going on
They landed IL day in Castle Garden.
and being somewhat short5of money
they started on foot to the interior
of the country. They travelled for
several days and one night being
somewhat weary they lay down in a
plum thicket not far from the rail-
road track, prepared to spend the
night. They had just fallen asleep
when a passenger train came thun-
dering down the track and woke one
of them up, and, raising upon his
elbow, he saw the headlight shining,
heard the engine putting, saw the
sparks flying, saw the glitter of the
electric lights as the train went
laundering by and he reached over
to his companion and arousing him
said wake up. Pat, wake up, they
are moving hill and the first train
load is just going by That is what
the American people are doing to-
day, butt say to you that there never
was a bubble but what found its
bursting time. 1t is true that con-
ditions as they nov are, have not
had a parallel since the world be-
gan and we are at a loss to know
just how to size up the situation.
Capital has combined and of such
magnitude as will enable US to carry
on the commerce Of the world with
out producing stagnation in BUSH
ness. Factories are running full
time and over and are still unable
to fill their orders. The demand
for their products is still greater
than the supply so there seems to be
no immediate danger Of stagnation
in business. from over production.
Manufacturers are placing their
orders as far as one year ahead for
their crude products and in the
light Of existing events it's very
hard to say that another panic is
coming but still / cannot refrain
from sounding to you a note of warn
Now is the time to take in
sail. The signs in the east are not
good. You know how natural it is
to look to the east for signs. especi-
ally in the financial world, and ever
since the day when that beautiful
star told of the greatest event that
has ever transpire6 since the world
began, we have looked to the east
and while we may not have a panic
on the way n thing is certain and
that is.the money market is tighten
ing. Standing at this hour. as I GER
tainly am, watching the waves of
prosperity roll above and below / cam
not forget the history of the past
when | saw the paths of the specu-