The daily silver state. [volume] (Winnemucca, Nev.) 1903-1907, 1903-08-05
OUR SOLID BASIS OF PROSPERITY

There are two reasons why the I'M
paralle.ed dis, urSanees in the eastern
stock market lave not serio tst? NJ
fected the buainess of the country.
Ono is that deduction is uEdimin
ished. The other is hat the market de
mand for what we are producing con-
tinues undated. While these condi-
tions exist 1t requires something more
serious tan TIE financial distress CT
a lot of blue sky Wall street promot-
ers to affect the solid prosperity Of
the country.
There has never been a greater
home demand for the products of the
farm and of the factory than during
the past year or than there is at the
present time. And yet the rep3r.s
OF our foreign commerce for June
show that we have sold abroad dur
ing the month just past s95. 223 ,125.
as against SS9, 240, 4S3 during June a
year ago. Here is a gain in the fore gn
market cve~ 1902 which was an exceo-
t~ionally favorable year, of over six
millions of dollars in enc month, or of
nearly seven per cent, at a time when
domestic prices are almost uniformly
high. The record for June is the rec
ORD or every month of the fiscal year
Of 1903 as compared with its predeces-
sor of 1902. a record of steady con-
quest Of the markets of the word,
which show no signs of abatement an
which if it is maintained guarantees
a continuance of prosperity at home
that the failure Of even J.. Pierpont
Morgan could not disturb unless it
carried to ruin with it the great banks
OF the metropolis.
During the year past WI have sold
abroad s36. 749, 776 more than we sod
during 1902. This is a very remark
able increase when we consider tnat
than ever before and thu pri e3 have
been stimulated to the top notch point
throughout the entire year. OF this
thirty-six millions nearly twenty-five
millions have been CT agricultural pro-
ducts, and nearly ten millions pro
ducts of our forests. Our m%anufactur-
ere have gained over four millions.
The grand total falls less than eighty
millions short of the billion and a
half mark. and with the single excep-
ton of the phenomenal year of 1901
marks the high tide in our export
trade. How can any local speculative
disturbance affect our solid prosperity
when at such prices as prevail today
for everything, we are finding a grow
ing instead of a lessening demand fo-
what we cave to sell? No one can
tell how long this may continue. The
natural tendency of high prices is to
defeat themselves by destroying the
demand. But thus far no such ten
dency is manifest, and if a year such
as the past has been, has not given ans
hint Oh ~stagnation, what is there in
the present situation to suggest IL.
While in some respects the farm
prospects of the present season are
nor as bright as they sometimes have
been, the results of the harvest Tie
country yer are bound to be such a.
to sustain confidence. At 7. eyai lag
prices the year will be above the aver
age in the returns it will bring. In
every other field production is ma
bsted. With an apparently mex
haustible demand. how is it possible
that there should come any serious
stagnation? Stagnation cannot come
until there is a failure in the supply
on the one hand or a surplus that can
not be disposed os on the other. If
there are any signs of either of tnese
conditions in the near future they are
80 I,zanr1fhTa Of tho nrarant tE,n1