Bisbee daily review., 1908-12-06
IS
REPORTED AS
MUCH BETTER
Conditions Remain Favorable
For Continuation of The
Great Improvement Noted
During Past Few Weeks.
(Boston Commercially

Boston Commercially
General conditions in mercantil lie ano |
Industrial lines remain favorable 10 |
continuance of the new activity |
hitherto reported Announcements q, |
the week have included further de
creases In the number OF workmeii |
Who are unemployed or on short tiTGe
and there is a freer buying move
ment in the commodities that may De
classed as necessar,es of life.
1t is calculated that assumptions
and expansions of output have made
gains in the past three or four weeks
which bring production up to approx
mately rs or so per cent of normal.
When It is recalled that so per cent or
less was the estimated amount at the
low point of the depression, 1t is APP
parent that a great gain has been
made. Moreover there is now a larg-
er degree of hopefulness and conn
dence in the outlook. II is probably
fair TO assume that this element in
the situation has gained equally with
the Industrial improvement. In other
words, optimism is back to rs or so
| per cent of the normal also.
The dependence of the business OF
4 Llt uHOU lLAAo oAiJA
has been emphasized during the past
year in a way that has Impressed itself
upon the most obtuse intellects. IN
terviews with leading business men
| in ali sections of the country make II
clearly apparent that they have return
ed by cautions and gradual stages To
their present point of vantage, and are
disposed to pursue that course for
I
giving ON the subject is pitched to the
keynote of conservatism SIN, and IL
is safe to assert that few of the SUD
stantial merchants and manufacturers
will be OF their guard during the COM
ing year.
Nothing could more conclusiyely
demonstrate the fact that the depres-
sion was largely understandable than
the quick recovery that mas taken
place in many commodity prices. IL
must be admitted, of course, in this
connection that the great increase II
: the worlds gold output has had
: measurably sutaining effect on the
value of all merchandise, and that cur.
tailnent in manufacturing lines has
! also reduced the available supplies o.
all kinds of industrial products.
Nevertheless the rise in values serves
to recall the fact that overproduction,
except in a few articles of commerce,
was not the most prominent factor in
the situation when the panic was pre-
, cipitated. Indeed it was far from be-
ing the determining cause. Herein
is found much of the difference be-
[ tween the crisis of 1907 and several
of the historic panics which preceded
: it and which were largely due TO
: merchandise outputs heavily IN excess
of the absOrbant capacity of consum-
] ers.
Happily on this account, while there
!, has been much hardship on account of
] enforced idleness among wage-earners
: there has been less scaling down OF
e wages among those who remained AT
work than is usually the case il
4 periods of stress, and Resumption OF
n employment to a large extent HIS
r been more speedily accomplished than
: has been the case heretofore The
!. Fan River situation is a case in point
> Last week the manufacturers waived
8 their admitted contract right to re
! duce wages, and announced to theil
l. employees, with the sole reservation
It that such action should not be consid
{ cred a precedent, their intention Of
= continuing for the next six months
n the present scale.
r The textile industry, both in cotton
and wooden lines, appears to be recov
8 ering in AN especially gratifying man
], ner. Sales of cotton and wool have
J, been of large volume this fall, ana
II there is every Indication that the man
d ufactufers have sufficient assurance o.
t a market for their output to justify
l. the unexpectedly large purchases Of
raw material which have been made.
Tariff hearings before the ways anC
e means committee In Washington are
/, attracting considerable attention. In
n spite of the generally accepted ides
e prior to the election that revision
a downward would be strenaolsly urged
y upon congress by many interests
$ there has been surprisingly aggres
o sive plea for increases in a number ol
a schedules, and far less insistence up
D on reductions than was expected The
8 recent magazine article by AndreU
e Carnegie, In which ne states that the
steel industry no longer needs protec
8 ton. is a most notable contribution 70
/. the discussion OF tariff matters. now
r ever, and It Is difficult to see how the
Il ways and means committee can ignore
a statement so positive from such q
z source.
, Conservation OF the natural re
i, sources Of the country, subject that
G appeals to every citizen. is brought
5 prominently iDtoz view also AZ the pres
J. emit time. This is tde most praise
d worthy feature of the Roosevelt ad
7, ministratioB, and tae prediction may
e be ventured that /: VIII be about the
a only one that viii rebound 70 bis
tcredit when his public career becomes
( a matter OF history. For the further
: ance Of this Imperative duty Of the ma
5, ton 20 itself he deserves an the ss~rl
mendalion that Is sure to be ac.,I-d,a
him
pl Money continues easy and Is Tkels
o TO remain so tsr some time TO CONE
+ inasmuch as all demands fgr nev
d financing must ma the gauntlet 81 2
S very exacting scrntiny and have the
q liz eli ing of lTlD.s1 .seci1~trV for iva IN