Heppner gazette. [volume] (Heppner, Morrow County, Or.) 1892-1912, 1903-12-17
The Freeing of the West.

Ahe Teelnk OF tne WeSLs
The fear of few months ago that the
cou ntry was in for a severe curtailment
of business and for hard times is rapidly
pas sing. Promotion has indeed been
largely checked. The New York Jour-
nal of Commerce prints some significant
figures as to the aggregate capitalization
of new corporations with $1 100000 cap.
ital or more during November. Accord
ing to its ia bles the total is the smallest
for any month since the beginning of
1899. being only $50. 100000. as compared
with $115, 100000 in November, 1902.
The total for the first II months of this
year is 81 ,572, POI 900, as compared with
over 81, 100000 ZOO in the same period
last year, s3,5OO,0O 100000 in 1901, and
s., 25O,OOO, ,0OOin 1900.
Some oyercapitalized combines have
been brought nearer to solid basis by
the severe process of scaling down their
market quotations, while other concerns
could not stand this treatment and have
gone to the wall. The old, we'll. estab.
lished concerns have suffered little, if
nOthing-railroads particularly having
had successful year.
ETrade has revived and promises to be
brisk, although the prices will be lower,
except as regards cotton goods. Ex-
ports continue plentiful, both of manu-
factured and farm products. Even
Wall street, which was on the verge of
fainting fit a month ago, seems now to
be a BILE to sit up and take notice. The
patient was surprised that the whole
neighborhood was not in Mysteries over
its malady, and, being let alone, it soon
recovered. Wall street ls chronic
hypochondriac half the time and a reck-
less rounder the other half. What it
needs when it's alternate fits of exhilara.
ton and melancholy seize it is to be un.
noticed
If Wall street had led the country this
time. as it has in the past, it might be
in he throes of panic now But IT has
now got too Big for its self-app ,intcd !
nurse. 1t knew that there was nothing
the matter with 1t and wisely refused to
take patent nostrums and get sick be-
cause the nurse vas ailing. Chicago is
an excellent barometer for the condition
of the Mississippi valley, and Chicago is
tlourishng. The country around it is
prosperous. There have been fine
crops. The factories have been running
steadily. There has been little stock
watering. The west has been sober, |
iudicous and conservative. What it
got it earned. 1t has had no dissipated
night before and need fear no headachy
morning after.
II some future historian shall write a
history not merely of American politics
and politicians but OF the American
people, he will describe as an epoch the
years from 1896 to 1908 For they are
the years of a peaceful revolution-the
years when the debtor West paid off it's
debt to the creditor East. Until this
present epoch the East has been the
Vests absentee landlord. The West
could only make so much profit out of
its fields and mines as was left after
paying its landlord the interest on
mortgages and the dividends on pre-
ferred stock. But in the late unpreced
eutedly prosperous period the West has
finally been able to earn itself out of
debt. 1t will use its money hereafter to
educate its own children, beautfv its
homes, gardens and cities. 1t will no
longer work for another but for itself.
Two Greek laborers were shot at La