Democratic Sentinel, Volume 19, Number 27, Rensselaer, Jasper County, 12 July 1895 — The Business Revival. [ARTICLE]

The Business Revival.

“The business revival.” says the Indianapolis News, “is beginning to * ake on the appearance of a boom Certainly the indications are of the most cheering kind. Wages continue to advance, and Bradstreet’s says: The extent of the voluntary ad - vances of wages reported within a month or two has outgrown the res sources of voluntary statistical bureaus to keep track of them, latest advices being that more tbau one million industrial workers have received an odvance averaging about 10 per cent. Prices are moving steadily upward in response to the increased demand, th a greatest advance being in iron products. Since April the price of steel billets has gone up from sl7 to $22, and the advance in iron since February has ranged from 72 per cent for wire nails to 7 per cent, for anthracite pig iron—the total average increase in the price of iron products being 22 per cent.

Even wool is feeling the effects of the trade revival. Prices are fair, and the demand for this product is enormous. I’he sales in May and June exceed the sales for those months of any preceding year. There was no panic in 1892, and in that year the McKinley wool tariff was in full force. But the sales for the last two m mths, both of foreign and domestic wpol, exceed the sales for the sam peri* od in 1892. The figures for the two years are as follows: 1892, 24,232,400 pounds of domestic and 19,675,130 foreign; 1895,26,897,613 domestic and 27,487.100 foreign. Here is a gain of 10,000,000 pounds and there is more home-grown wool being sold now than was the case three years ago. That is, th« increased importations have not destroyed the market for American wool, but rathea they have stimulated the demand for it. The price, tco, is advancing. Twenty million prunds of Wool were sold

at Boston within the last two weeks at “an average advance of ten poinis from the low figure.” Tnesharp trading in London has raised the prices in the market to the American level. While in Boston the sales this week are 6,000,000 lbs domestic and 3,772 000 foreign as against 2,096,000 pounds domestic and 100,000 foreign for the same week last year. The total i crease in the sales in the Boston market over those for the first six months of 1893 is 13,648,859 pounds domestic and 40,227,600 pounds for eign.

We have felt that it was well to emphasize the facts in regard to wool and iron, because these industries iiave been supposed to be peculiarly depeadent upon tariff legislation . It i* strange,(thererore, that it is precisely in these industries that the improved condition of affairs should be most notices able, although wool is now on the free list and although there have been many and important reductions in the iron schedule. But though we have emphasized the facts about wool and iron, it will not do forget that the business revival is "eneraL It is not limited to manufacturing, but is felt in tradeandlcommerce. The failures for the first half of this year are much fewer than last year, and very slightly in excess of tbose for the first half of 1893. <Tlio lia-bi-itibs are much smaller than in either of the preceding years.The figures are $88,839,000 for this Year, as against $101,739,306 last year and $168,864,444 in 1893.These are what are known as commercial failures. The banking failures were the same this year as last, with some increase in liabilities. The second quarter of the present year shows a marked improvement over the first quarter, ♦here being a decrease in every class of tailures.

We would commend these facts to the free silver Jeremiahs and the McKinley fanatios. Whether gold is appreciating or not, it is certain that wages and prices are going up, and that the country is in a very satisfactory conditi m Whether protection is a good thing or not, it is certain ' that our “tree trade” tariff is not at the present time doing anybody harm. Men are busily at work making all the money they can, and they seem to be successful i.i doing so even in those industries which are supposed to be peculiarly dependent upon the fostering care of Congress, although some of that care has been withdrawn. We venture to say that the business men of the country, irrespective of pariy, always saving and excepting the Populists, would be very thankful if the politicians on both sides would get together and resolve to let the in dustrial operations of the United States alone. There is a growing feeling that there has been too much “business” legislation. The American people are doingjvery well under the present tariff. * *