The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-12-30

4 to send to the northern cities for all
| their choice goods and take e sort OF
l pride In telling their friends that they
do not patronage the home merchants
Nothing made at homo or sold at home
! Is good enough, for them. Yet u one
should say TINT these persons were lack
Ing In loyalty or public spirit, they would
take affront. Indeed, some OF then,
would contribute to fund to Induce"
new enterprise to move In, with the
reservation, Of course. that under no cir
cumstances would they buy It's wares.
II iii bows down to this: Take care
OF the old established enterprises, and
the new ones win take care Of them
selves.
K Good government, city conveniences,
conservative taxation, advantageous
banking and railroad facilities, and added
to these, the good will OF the community
are all the inducements that any de-
sirable enterprise wants. M
So. ..-:.-.----------------===-=--== fYifs
How Long Will Prosperity Last
In the current issue Of Iarper's Weekly
Mr.. r. w. Hcwes asks and answers the
question: How long will the present
prosperity continued" He recalls that
i've times since the nation was born has
the great tide OF disaster swept overlits
Industries, carrying desolation into the
homes OF the poor and discomfort and
alarm into the homes OF the rich. Then
as Introductory to his review OF these
periods he states this tr,,ism: When
times are Il bnd, money disappears from
circulation; when times are good, money
circulntes freely" As the records OF the
national treasury state how much mon eY
was In circulation ench year It IS easy to,
know tho average OF each person, and
that knowledge, says Mr.. Hewes, tells
tho full story OF good and bad times
He finds that during the panic OF 1888
1s43, the circulation OF money per capita
dropped from 1857 to s7.s7. It then.
climbed UP rapidly for four years ayerag--
ing nstrifle over per cent. year on the
circulation Of 1913. The fifth year added
two more points then arose four points
during the sixth year followed by the
most remarkable rally found in the full
record from 1880 to Observation-Disclosures
.pointssin five years, an average OF nearly
is per cent. a year. ,5.s \
That was the period when California
began to- give up her gold In large GUAM
titles There was then less than one
third Of the present population, and the;
countryf5west of the Mississippi was Just
beginning to be settled TThat fifty
years 4. says the wrlter seems Il o. long
way OF, and 1t is not easy to realize that
1850 to 1874 commentaries relatiyely the
most remarkable period OF business pro
gress In our history n
He passes over briefly the war period
and the period Immediately following the.
war and goes OH. tosnote that the boom.
|3of$the early eighties marks the beginning
of tho recovery, following the panic of,
1s7S-1s7s. The first five years, says he,
are very similar to the first five years
1jrecovery, begInning a t 1913, only the pro
sgress was still moro "a pid Gao points, as
Isin3this, the sixth year mark n ba edward
movement. Following that Il sixth year.
however he notes that t he resemblances
cease. The boom of the early eighties.
was followed BY seven years 1ss3-1s9o) OF
Punctuation, recording the same position
/ d49 per cent? at Its close, as at It's be-
ginning. The remaining two years. ded
II points. rounding out the longest pros
perity period al years. Of the four such
periods under review. In conclusion, MI.
our present prosperity scored only 81
per cent, as against 149 per cent. and 1876
per cent. OF the two previous full records.
But the sixth year, instead Of showing
setback, showed a steady advance, and
that the advance has kept ri up to
the present date. This period, according
to his estimate, began in 1896 so that
we ara now in the ninth year ofS the latest
era Of prosperity; and he concludes that
|it should continue at least five years,
longer. 4
All sorts of contingencies may arise
but there are two considerations which
are very greatly in favor Of Mr. Hewes's
prophecy. Tho first OF these Is that we
have an abundant supply OF gold, which
Is increasing every year and the second
is tho have buildedS this time upon
surerS c.lndatlons than ever before In
any period OF our: prosperity We have
protited BY the lessons Of the past and
there Is more confidence than ever in
our own strength. TIE nation Is like
lipllng's ship, which .found herself"
Tho ship was more or less timorous in
the first storms that she encountered.
hut after weatherlng them safely she
discovered her own strength and had con-
hdence in IT. The nation has weathcred
tho storms OF adversely and mas found
herself"
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