Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-05-30
The Duration Of Prosperity.

The Duration OF prosperity.
How long will the prosperity con-
tinue which was inaugurated by the
restoration of the Republican party to
full control of the national govern
ment. half dozen years ago? Many
predicted that it would be n matter of
only two or three years at the best.
merely normal and natural reaction
from the hard times of the Cleveland
regime. to be quickly followed by
another period of production,
business depression and industrial stag
nation. But one year followed anoth-
er. and the good times became better
times and the better times have become
the best times that this country ever
know. The triumph of Republic@n
principles at the polls in 1896, and the
faithful performance of Republican
promises by a Republican President
and u Republican Congress gave the
country a wonderful impetus along
the pathway of progress. Business
confidence was restored; the wheels of
industry revolved again: the soup
houses were abolished and there was
work for every man; our commerce
assumed unprecedented proportions
and everywhere prosperity reigned.
Thus it was through the four years of
McKinley's administration. First the
Democratic leaders said that there was
no prosperity, then they declared it
was only an artificial and unnatural
prosperity, and finally they had to ac-
cept it as a fact and strive to give
other than political reasons for it's
origin and continuance. The country
was determined to let well enough
alone. and in 1900 and 1902 rolled up the
great Republican majoritcs that had
marked the elections of 1896 and 1888.
With Roosevelt at the head of national
affairs there has been on change. Con-
fidence has continued, business has
been rushing along every line. deposi-
tors have almost swamped the banks
with money. and the only famine has
been in freight cars to haul the
products of fields and mills and in la
borers to do the work.
And how long will such good times
continue to bless our favored land? The
Philadelphia Press takes the iron and
steel industry as the best index to gen
eral business and discusses the ques-
that unless a belief should gain
ground that Democrat may be elect
ed President next year there will be no
break in the continued prosperity of
the nation. If the Republicans win
again. as now seems as certain as any
thing in the future can be, there is no
reason in sight why the prosperity OF
the past six years shall not be dupli-
Gated in the prosperity of the next six
years The Press points out that The
election of a Democratic President
would have a bad effect, just as it did
in 1884. Mr. Cleveland's tariff views
were unknown at that time, for the
reason. as he said privately. that he did
not know much about the tariff. The
Republicans controlled the Senate and
there was little prospect of any Demo-
cratic legislation. but the industrial
interests We're uncertain and the pro-
duction of pig iron decreased 10 per
cent. the first year. The election Of
President Harrison in 1855 removed all
danger and the production of pig iron
increased to $500, 703 tons in 1890
The escond election of Cleveland in
1892. with his free trade views we'll de-
fined. had very depressing effect, and
in 1894 there was only $685., 900 tons of
pig iron produced. decrease of about
&c per cent President Mckinley was
elected in 1896 to become President in
March. 1897. At that time prices We're
the lowest on record, but the PROMPT
passage of the Mckinley tariff brought
about q change which has continued ap
to this time. making the most remark |
able and prosperous record in the his |
tory of the nation. The production Of i
pig iron has almost doubled. and prices
likewise. The production now is esti-
mated to be at the rate of 10000 900
tons. or over three times what it was in !
1891 under the Democratic adiministra-