The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1909-04-22
Trade. Era of Good Feeling.

T-rde's Era of Good Feeling.
simultaneously comes the news of
the Harriman-iIill gent.emen's agree
ment. the placing of heavy orders
abroad for american steel. and the gen
erai advances in the stock market This
is Il welcome relief from the gloomy
talk which was heard week or ten
days ago. on account of the assumed
disturbance which tariff revision would
cause. Says the younger Hill. the new
president of the Great Northern.
There is no fight between the Hill and
Hartman forces. There has been none
between them since 1901, although the
public imagined there was. The feel
ing between them now is better than ii
ever was in the past" Coming from
the head of one of the rival interests,
this assurance Is pleasing reading TO
the country. In different words Mr..
Hartman confirms this story of a
peace pact. The seat OF war between
these forces, if there were any war.
would be in the Northwest chiefly, and
more railroad building IS being done
In the Northwest at this moment than
In any other section of the country.
This means that the men who are put
ting up the money there not only see
peace. but they see a prospect of heavy
traffic in the immediate future.
Ebert III. Gary. Charles VI. Schwab
and the rest of the steel magnates have
70 ~
heads Of the rival transportation inter
ests in the trans Mississippi region are
showing. To Mr.. Schwab's company
has just come a heavy order for battle
ships for Argentina. Another Ameri-
can concern has secured contract for
rails and fish plates for the street rail-
way system of Glasgow. These Ameri-
can companies made lower bids than
their foreign rivals. and thus got the
work. Scotch steel makers were beat
en- on their own ground Germany,
which is making greater strides for
ward in steel production than England.
was the chief competitor for the ,Argen-
tina contract, but it was, according TO
report. beaten out Of sight by Schwab's
company" The American people like
these evidences of American skill and
efficiency. They can now understand
why Mr.. Schwab changed his tune the
other day. After saying that the clIt
i'm steel would injure every American
producer, and possibly compel them to
cut wages. he came round TO the posi-
ton takea by the Ways and Means
Committee, and said that the cur would
not injure him or any other mil owner.
Here is where he and Mr.. PANE are
I'm entire agreement. About 40 per cent
of the worlds aggregate steel Troduc-
ton is contributed by the United
States 1t is evident from the con-
tracts which Americans have just won
I'm Glasgow and Argentina that we are
in not the slightest danger of losing
our supremacy in that field. Mr..
Payne's committee will hear no more
protests against the reduction which it
has made on steel products. Possibly
the committee is now sorry that it did
not make the cut little deeper.
The country now has an intelligent
reason for the advances in the stock
market. Business is sound. The gen.
eral direction of all activities is toward
expansion. Revised returns tell us that
the worlds gold yield was long way
over $4OO,OOO,Oc0 in the calendar year
1908. which broke all records. AS the
adoption Of labor economiZing meth
DDS i'm gold extraction continues, some
of the abandoned mines of a few years
ago are now being worked profitably.
Deducfing the amount of the metal used
In the arts and Industries. more than
500 10000 of gold each year Is now
being added to the worlds stock of
coin. Here is one of the reasons why
prices Of all commodities were sus-
tanned so well during the recent trade
stagnation. All the worlds financial
centers are well supplied with cash.
Even the treasury at Washington re-
veals within the past week or two the
effects of the trade revival. The re-
yised figures for March show that the
deficit for that month was only $3115.-
200, instead Of the 81 100000 which had
been estimated on the last day Of the
month, and instead OF the S6OOO.OOO
or 100000 which had been predicted
seven or eight weeks earlier. Thus the
cheerful tone Of the railway chiefs,
the steel magnates and the other cap
tains OK industry is communicated to
the treasury officials. All along the
line the industrial and financial situa-
ton Is better than had been looked for
by this time by even the most sanguine.
The treasury deficit for the year will
probably pass the $1OO.0O0,OO0 mark.
but 1t will stop far short of the giddy
height which everybody a few months
ago feared 1T would reach. The "open
rate" for steel which has prevailed for
the past few weeks has increased or
ders sufficiently to bring more profit to
the mill owners than did the higher
figure and the diminished activity of
the earlier months. In the general cho-
rus of cheerfulness which is going up
from heads Of the larger activities all
over the country the great mass of the
people have a right TO join.-St. Louis
Globe Democrat.
Lasting Debt of Gratitude.
The protective tariff has fosteredand
made possible the great industrial de-
yelopment Of this country and not a
city but owes 1t lasting debt of graft
ture. Fort Wayne's factories are its
children, practically every one of them,
and well informed men are perfectly
cognizant Of the fact. Take, for exam
pie, the Wayne knitting mills. This
thriving industry, with a monthly pay
roll of more than so 600 could never