Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-28
He SEES GOOD TIMES
Cornelius N. Bliss interviewed
on Business Situation.
CONDITIONS ARE PROMISING
Does Not Look for Sensational Boom,
but Big Improvement.
MONEY IS EASIER AND CHEAP
Says There Is No Apprehension Felt
at Tariff Revision-Commerci
Circles Confident.
BY WILLIAM f. CURTIS.
Special Correspondence of The Star and the
Chicago Record Herald.

| BY WILLIAM E. CURTIS.
Special Correspondence of The Star and the
| Chicago Record Herald
NEW YORK. November IS 1905
| Cornelius n. Bliss ranks first among the
great merchants of New York. and among
the solid. conservative business commu-
nifty of this great city his name and his
Iopln1ons command respect and confidence.
He might have any honor he would ask
he has enjoyed many and has declined
more. He might have been governor of
New York half dozen times if he had
peen willing to accept the nomination. or
he could have had a seat in the United
States Senate. He has declined the post
OF Secretary of the Treasury several times
out during his long and active career
dating back to the civil war. he has never
held office but once. and then for only a
short time he served as Secretary of the
Interior to oblige President Mckinley and
, because he was the only man upon whom
the conflicting factions of the republican
party In this state could unite. Mr.. Bliss
was treasurer of the republican ma
tlonal committee for a generation, and
mas taken prominent part in every
presidential campaign for thirty years
but he has now withdrawn entirely from
politics. has resigned all of the great pub
Tic responsibilities he has been carving
in the past and is gradually retiring from
active business, although he keeps in
touch with financial and mercantile af-
falrs and may be found at his bank and
his counting house every day.
Believes Prosperity Will Continue.
| Mr.. Bliss has serene confidence in the
restoration of prosperity throughout the
country and it's continuance for an in
definite period.
| The recent panic was not caused by
any organic trouble" he said yesterday,
but from transportation and an unnat-
ural imitation Of prices. Everything was
100 high and a readjustment had to come
| mere was a temporary cessation of ac-
tlvlty ana nearly year of depression.
put the trouble passed away easily and
lhere was not one serious failure in the
mercantile world. Then came a brief
period of anxiety about the election and
recuperation was naturally slow
Many wise men were convinced that
the election of Bryan would be disast rous
to the industrial and commercial inter-
ests of the country, and they continued
IN conservative course until two or
| hree weeks before the election, when it
became clar that Taft would b Presi-
dnt. Then apprehension rapidly passed
away, the factories called back their
hands and began running on full time,
and the Jobbers began to buy goods I'm
and every other condition combined in a
most favorable manner. Business has
grown more and more active and conf
dence Is now almost entirely restored.
No Boom, but Healthy Conditions.
There is no boom. but healthy business
conditions in financial, commercial and
industrial circles prevail throughout the
entire country, while the farmers have had
extraordinary crops and will be able to
sell them at almost unprecedented prices.
| 1t is unusual that big crop and high
prices should come in the same year. |
feel not only hopeful, but confident of
the future. l do not want a boom. Every
wise business man would deplore a re-
| vivai of the abnormal and hysterical &C
t!vity that preceded the panic. but we
are gradually but surely approaching
normal trading and normal prices.
I cannot speak from personal knowl
ledge concerning any other line of bust
ness but the cotton mills throughout the
country which either shut down entire
/ ~ or have been running on short time
during the last twelve months are now
running on full time with a full force
| of operatives, and before the season is
over 1 anticipate that they will find
some difficulty in supplying the demands
| of the trade. There has already been
a slight advance in prices. which are
| likely to be ma ntained even If they do
Retail Business Improving.
The retailers and jobbers are short of
| stock and the surplus that accumulated
| in the factories during the dull months
| is pretty well sold out. The retail bust
ness is improving also, but the greatest
demand seems to be for the low priced
| articles. L am told that the same is true
| n the silk. wooden and dress goods trade,
although 1 am not personally familiar
with either. 1t means, however. that
the people are buying cheaper class of
goods than formerly. which is perfectly
natural, because millions have been out
| of employment for several months. They
| have been compelled 70 ecOnOmiZe, and
must pay up their grocery bills and their
rent before they can have any money to
spend for other things.
THE relative demand is said to be bet
ter in the country than in the cities. That
is also natural, because the farmers have
had such splendid crops and are getting
such high prices, while the working peo-
pie in the cities have not been so fortu-
nate Millions were out of work. Nobody
realizes how many; but the manufacture
ing industries all resuming again;
railway construction and building has
been active everywhere; we have had
good weather through the entire fall and
outdoor labor has continued much longer
than usual. But it must be suspended
soon in the northern part of the country,
for snow and ice are difficult to contend
with, and thousands of laborers will be
thrown out of employment. That fact
must not be construed as a return of bad
times, because it will be due merely to
the inevitable and the regular suspension
of outdoor work in the winter.
Money Easy and Cheap.
THE savings bank deposits have fallen
| off only twenty-nine million during the
| recent depression. which is exceedingly
| favorable and means that only small
portion Of the wage-earners of the coun-
| try were obliged to draw upon their saw
| ings. The present tendency in savings
banks deposits is upward, and I anticipate
! a considerable increase during the coming
year. Large amounts Of money have been
| seeking investment since the election. The
sales Of bonds and gilt-edged stocks have
| been unusually large, and money is easy
| and cheap. AT the bank today we passed
! call loans al per cent and first-class
| paper for 3ia and per cent. Good com
| mercial paper is in demand. and the
| money that was boarded during the panic
| is now out for investment. This shows
| that public confidence has been restored
completely, and there Isl no reason why
OH,