Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1902-01-09
The Business Outlook.

The first year of the new century has
been marked by an unprecedented dif-
fusion of prosperity in the United States.
All sorts of industries, with very few
executions, have been taxed to the utmost
to satisfy the consuming power of our
people, and all classes have experienced
the benefits of a pronounced impetus to
business. But for the drought OF the
past summer the prosperity of the peo-
ple of the United States would have been
still greater, but as it is our people have
astonished the entire civilized world by
their rapid strides in commerce as well
as IN industry, and the phenome nal vol
ume of their business
The paramount question at this time,
however, has to do with the future in
stead of the past. What is the Quito
for business for the coming year and what
the chances for the continuation of o'r
present unprecedented prosperity? one
might say that inasmuch as the busin' -
boom that began with the election of
President Mckinley in 1896 has continued
without interruption up to the present
time for a period of over five years, one
would naturally expect reaction. Ieo-
pie have come to look for periodical de-
preston, and some might say that it was
time for another financial crisis, although
they might not be able to account for
their pessimsm, except to say that pre-
cedent influenced them.
As a matter of fact so far can be
seen there is not a cloud in sight on the
favorable for a long period of prosperity.
In nearly every line of industry stocks
have been fairly well exhausted, and man.
ufacturing during 1902 will prosros IS on a
scale never before equalled. Witness the
preparations of wooden manufacturers, of
workers of iron and steel and of different
other lines to meet an enlarged demand
during the twelve months now begun.
If we turn to our agricultural interests,
here, too, we find the conditions prom $
ing for the coming year Short ere p5
have caused prizes to reach an unusual
altitude and it will require enormous har-
vests to meet the current demand for con-
sumption and supply the usual reserve
stock to say nothing Of our export trade.
commands ready market at a hands ONE
price, and the continuation of this 81 ua-
ton for another year will serve to place
the farmers of the whole country on their
feet. When the farmer has money in
abundance other classes can prosper, but
not otherwise.
Speaking in general, it is to be borne
in ,,,i,, IL,
try is outgrowing its disposition to in
dulge in panics. Our banking interests
have learned that it is more economical
to prevent a period of financial depression
growing out of uncertainty than it is to
endure and recover from a long period of
depression. AS a result Of the co-opera-
ton of our great fnanciers events like the
Northern Pacific corner which a few yea s
ago would inevitably have created p mic
caused little more than a ripple on the
financial sea, and whenever money has
become uncomfortably scarce, bankers
have combined to relieve the situation
The United States treasury has wis ~
used its great power in similar direc'
ton and under existing conditions, in
Guiding the existence of the gold standar1
it would require some phenomenal iniu
ence to undermine the confidence of the
American people. Our country has be-
, come so powerful commercially that thC
failure of crop or an untoward even
!, in the financial world no longer spell
disaster, and this fact naturally beget
confidence and strength.
The new year opens with business no
' only active but evidently sound, and witt
, business men confident and optimistic
and the adoption of n practical metho
, Of settling disputes between labor AM
- capital is not the least promising facto
in the situation. 1t will be remarkable
y indeed, if the year now begun does no
A.. leave all other records behind in the mat
a ter of industrial activity, commercial eX
a pansion and general prosperity.