Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1905-12-29
Prosperity's Presence
Brightens the Business World

One fact is writ large over the face
of the years industrial and commercial
activities. especially in our own land.
Whatever may be said of the eqnity or
meluity of the existing economic sys-
TEN and of the distribution of opportu.
mites, an unprecedented era of business
prosperity is with lis beyond cavil.
The hesitation which marked the presi-
DENTAL campaign of 1904 gave way to
confidence after Roosevelt swept the
country. Money became plentiful.
Prices or staple products anu negu-
table securities advanced. At home
and abroad enormous orders for iron
and steel products, machinery and ag-
ricutural implements, fuel and all
kinds of raw material set mines, mills
and factories II running overtime.
The settlement of extensive strikes in
the building trades paved the way for
Il phenomenal squirt in residence and
office construction in nearly all Of our
cities. Railroads, trolley combiues and
shipping interests went into new and
vast schemes of extension and improve
ment. Lastly. but at the foundation
OF the whole structure, was the de-
cision of our farmers to increase the
acreage under cultivation, an exception
being the cotton planters. who made
some restriction in order TO maintain
prices. The result, weather favoring
and improved methods helping, made
possible Secretary Wilson's story OF
record breaking crops to gladden. the
nations Thanksgiving day, the total i'll
crement of agricultural wealth being
estimated at SG,4l5,00o, ,0OO.
In the spring of the year this condi-
ton of affairs was nOticeably rejected
in the universal shortage of freight
ears Oh all the great railroad highways,
Notwithstanding that the car construc-
ton companies had been running full
blast to ill enormous orders for rolling
stock. The Missouri Pacific ana the
Burlington engaged in sharp rate
war in the rivalry OF gulf and Atlantic
ports for western grain last spring. ana
later In the summer eastern trunk lines
suffered slightly from temporary pc
riod of rate cutting. Progress was
made toward through trolley lines be-
tween Buffalo and Chicago and other
western points. The management or
the Vanderbilt system OF railroads was
centralized under the single headshIp
of President Newman. Gould became
suureme in the Wabash after forcing
Ramsey ont. Hill and Hartman reach
ed a settlement by dividing the north
west between them. Our foreign com
merce as recorded at the end or the
fiscal year was over S2,ooO,oOOouo. an
increase of S1S4,UO0,00O and the largest
on record. This meant prosperity TO
shipping interests, Notwithstanding that
the trust as such reported million
deficit
Our export trade encountered one
dangerous antagonism IN the 'hlnese
boycott, which was begun May 10 by
the action of the Shanghai chamber OF
commerce, presumably inspired by
nowerful officers of the empire III re
taliation for the rgors and insults con
nected with the administration OF the
American exclusion law.
The great life insurance companies
which began the year with their Gus
tomary reports boasting of gains and
surpIuses, have passed through the
chastenng fires Of investigation ana
reorganization following the STRIFE De-
tween the Hyde and Alexander fac
tions for the control