Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1907-08-08
THURSDAY, AUGUST 8. 1907.
TWO TALES.

Cities" Our contemporaries, the Rich
mond Times-Dispatch and the News
Leader, have been writing 1.-TWO Tales
From One City," In its issue of last
Saturday the Times Dispatch, under the
head, THE Industrial Outlook" gave
expression to the following pessimistic
sentiments:
The indications seem plain to those
who are on the lookout that we are at
the beginning of decline in our indus
trial activities. To those who have
been accustomed to observe the rela-
tionship between the financial world
and the industrial world it is plain that
the financial world has been overstrain-
ed and feels exhausted, and that the in
dustrial world has been overworked and
Is tired. 1t is not natural, and, there
fore, not desirable, that industries of a
country that has long life before it
should go at pace which is excessive
and exhausting to those who are en-
6a8SO III
Our Richmond contemporary then
proceeds to back up its prophecy of
future evil with a tale of woe. 1t tells
OF the advance in the price of materials
and labor, of the inability of the rail-
roads to meet traffic demands, and that
with an increase of wages labor has
become idle and thriftless. In support
of its predictions of calamity the Times
Dispatch says:
1--WE look for duller times and for a
decided falling off in many industries.
As a consequence many men will be
idle, and we fear that there has been
little saved in the past seven fat years
to carry the ordinary workingman over
the period of depression which appears
to be ahead of us
We are surprised at the dismal view
our contemporary is taking of the sit
uation. Its splendid Sunday editions
bristle each week with accounts of the
great industrial progress and prosperity
that is prevailing in all sections of Vir-
GINA; and its correspondents say moth
ing of the people being weary of pres
ent conditions. What's the matter
with the Times-Dispatch? Its liver
must be disordered.
We have been hearing these predic-
lions Of calamity for the past ten
years, ever since the industrial and f.
nancial policies of the Republican party
went into force under McKinley's ad-
ministration. The prophets have been
discredited by a continual growth of
better times and our country has be-
come beehive of industry. Have the
people grown tired of prosperity? We
fail to see any evidence of such dispo-
sition. Has labor acquired habits of
idleness and thriftlessness? If it has,
why has there been such continued in
crease in the output of the products of
labor?
The Richmond News Leader, in its
last Saturdays edition speaks in
much brighter and more hopeful spirit.
1t puts the question: where is Our
Panic?" And thus remarks upon the
question:
What has become of the panic and |
the business depression of which we
have been hearing dire predictions from
Wall Street these last ten months?
Dun report of bank clearings for july |
ard the first seven months of 1907 give
us no clue to the whereabouts of these
disasters. This report shows that to
the first of August of this year the bank
clearings of the country have been over
twelve billion dollars, an increase of
i've and eight-tenths per cent. In New
York city the clearings were over seven
billions and show an increase of eight
tenths of one per cent, whereas the in
crease in the country outside the metro
polls is fourteen per cent over 1906 and
per cent. over 1905, the
great boom year. The largest percent
ige of increase is in the West and Cen
raj West, but the South Atlantic and
Southern States hold up satisfactorily
md are well ahead of the Middle West
md New England. These figures seem
o Indicate very clearly that what de-
'ression there is is confined to Wall
treet. 1t is noticeable that the returns
f commercial casualties confirm in all
aspects the figures of the bank clear .
lgs and show that the general business
the country is on sound and safe {
asis and in a healthy condition"
The News Leader is correct in its