Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1907-10-30

The Clouds Win Roll Bu.

\
ot mighty army of million
workers IL annually pouring into
our coantry, and hundreds of
thousands from other sections of
the united States are annually turn
lug their footsteps toward the great
Southwest. and many Into the Cen.
trail South. The world moves.
Human activities know no let-up.
rhe farmers OF the country will this
year receive $1,000. 900, 900 for
their products, or about nine times
the total national banking capital
OF TIE United States; almost one.
hall as much az the total invest
ment In all the railroads of the
country. Never before in the his.
tory ot America were the agricultur.
al conditions of the country 40
sound aud solid; never before were
the farmers OF the South and the
West alike so nearly out of debt,
and with 'otal value of tarm pro-
ducts TO their credit 10 staggering
In amount "a to be almost beyond
comprehension. Contrast the 81.
600, 900, 900 which will this year be
paid To American farmers with the
total tor preceding years. In 1890
the total value of farm products was
81, 466, 900, 900, or but a htlle more
than one-third Of the value this
year. Even seven years ago, or in
1900, the total was $4,7l7,OO 900,
while this year the aggregate OF
~, 600. 10000 shows gain of
S2, 300, ,0OO,O 600 as COR pared with
1900, and IL almost as great a. the
total value of farm products in 1890
How can country materially
suffer in its business interests with
such a solid foundation for marvel
Gus prosperity and business expan
sion? New York is at present the
storm center of bad fnanoial con.
dition, due In part to the rotteness
oil the methods OF some financial
operators in that great world center,
In part 20 destruction of confidence
by ceaseless agitation and legisla-
tlon against railroads and other
corporations. 1t is true that the
depreciation in securities has been
enormous. IL is true that thousands
have lost their all by having TO
sacrifice securities But these con-
ditions do not, by any means,
change the fundamental soundness
OF American business conditions
The man who has been forced by
this financial storm to sacrifice his
securities for far less than their in
trinsic value has transferred to the
purchaser property which, when
the storm is over, must inevitably
advance commensurate with the
marvellous natural resources and de
velopment OF the country. Take the
conditions of 1893, with our dis.
organized currency system, with
the world uncertain as to the future
of our monetary standard, with the
silver issue in the balance, and no
man able to predict the outcome,
and contrast that situation with the
conditions today, and we can see
difference 80 great az to be really
startling. Then the farmers OF the
West and South were burdened with
debt. Then their agriculture pro
ducts were At All exceedingly un-
prohtaDle point. Then cotton,
wheat and corn and cattle were sell
ing at less than the cost of raising.
Since that day we have added from
20, 900, 900 to $4,000, 900 people To
our population. We have doubled
and in many cases trebled and quad.
rupled the volume of business. We
have trebled the value of agricul-
tural products, and against the
poverty of the farmers of that year
is the aboundiDg prosperity of to-
day. Despite these conditions some
good securities have fallen to as low
q price as prevailed in 1893, not
withstanding the vast expansion in
industry and population and wealth.
This ~ partly case Of Mysteries,
and, az already stated, partly an
outcome of mismanagement in some
financial institutions, and of co urse
70 some extent distrust created by
constant agitation against railroads.
These things, however, are
ephemeral in their nature, and must
pass away. The country at heart
is sound and solid for aboundine
prosperity despite the disorder
which temporarily prevails in Wall
Street and the interests connected
Herewith. The Manufacturer's Rec
ord does not by any means fail to
appreciate that in one sense Wall
Street 10 the financial center of the