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-
II
BUSINESS IMPROVING.
SUPPLEMENT TO THE
COLUMBUS JOUBNAL.
FAVORABLE REPORTS FROM
EVERY DIRECTION.
Wednesday, April 7.
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PEOPLE ARE
ABOUT IT.
SAYING
It Coataiaa Not a False Note and la
Coataieaded Alike by Republicans
aad Peaioci-ats Even tbe British
Show Mild Approval.
The inaugural address of President Me
Kiuley is a document, the spirit of which
must commend it to every lover of his
country, no matter what he may think of
the policy therein outlined. There is
nothing boastful or exultant about it; in
stead, there is modesty and hope, cou
pled with a gratifying determination on
party policies that are well defined. Res
olutions are not always a safe index of
performance; neither can an inaugural
Address be accepted as a guarantee of
good deeds. But to begin right is some
thing. Columbus (Ohio) Dispatch.
A Baaiaeea Administration.
President McKinley gires every guar
antee of a business administration that
an inaugural message can express. Like
his letter of acceptance of the Republican
nomination, his first communication a
President, addressed to the people, is re
markable for its simplicity of statement;
its wholesome and welcome freedom from
thetorical pretense.' and the strong air of
Titnmon sense that pervades it. What he
as to say the President says briefly and
Itointedly, and without waste of words
in introductory phraseology. New York
Advertiser.
Not a Falae Note.
President McKinley has given the pub
lic an inaugural without a false note or
an ambiguous sentence. It is clear,
straightforward, systematic and forcible.
There is nothing merely perfunctory
about it. He recognizes the difficulties
that have been heaped up during the long
depression, and frankly says that recov
ery will require time, even "with wise leg
islation. He first of all discusses the
financial situation, because that is upper
most in public consciousness. And he
favors the creation of an expert commis
sion to consider the revision of the coin
age, currency and banking laws.
The President will always hold himself
ready to co-operate with other great com
mercial powers for international bimetal
lism, hut until snch co-operation can be
secured, the silver coined and that may
be coined here must be kept constantly at
parity with gold. To this all our resources
are pledged, and the pledge must be kept.
Philadelphia North American.
A Raslaeas-Like Uocnment.
President McKinley "s message is a
straightforward, business-like document.
In which its author has clearly expressed
what he had to say. and has evidently tak
en more pains to convince the reader that
he means what he says than to indulge in
hyperbole and other redundancy of phrase.
Portland Express.
Ae Hoaeat, Sincere Maa.
Tbe address must, we believe, impress
every reader as being that of an earnest,
honest, sincere man, determined to do his
full duty. It is also the address of a man
nearly all of whose economic creed can be
expressed in one word "protection." But
possibly the needs of the treasury and the
caution of congressional leaders of his
party less fully absorbed in that theorr
and policy may make the new tariff law
more conservative than if tbe new Presi
dent's wishes had full sway. Except for
tbe excess of zeal displayed in this con
nection. Mr. McKinley's program we re
gard as conservative and wise likely to
promote the progress of a returning confi
dence in the future of business if faith
fully carried out. Jacksonville Times-Union.
Democratic.
He Kaoald Not Be Kmbarraased.
The President of the United States can
not make good times nor bad times. He
has no power to enforce the carrying out
of bis recommendations. But the whole
tone of the first presidential utterance
bespeaks a sincere solicitude for the good
of the country. There ought to be no in
considerate or vicious opposition to the
policies which the Republican administra
tion shall seek to carry into effect Hav
ing the responsibility of governing the
country, it should have a fair opportunitv
to govern unhindered by factious dissent
OB the part of the minority. Philadelphia
Record. Democratic.
Bee the British. Mildly Approve.
It is a pleasure to read the approving
comments of the British press and British
bankers on the inaugural message of Pres
ident McKinley, even if they are sand
wiched in with disapproval of certain sec
tions, which, no doubt, the President very
well knew when he wrote them Great
Britain would not approve. They were
written for the American people, not for
the English, and. with the endorsement of
the American people, it makes little differ
ence to this country .whether our cousins
cross the water agree with them or not
Baltimore American.
Breathe Stardr Patriotism.
President McKinley's inaugural ad
dress is worthy of the man. Every sen
tence breathes of robust Americanism,
tardy patriotism and unfaltering deter
aabMtJM to do the right thing bo matter
what may nappes. There is bo talk of
war, no ht of revolution, indeed, bo non
seas ia it anywhere.
Briefly epitomised. PresideBt McKis
ley favors a monetary commission cam
jwsed of both parties that shall give a
carefal aad dispassionate examination of
the enrrency system. His idea, as he says
himself. Is that while "onr mosey is all
good bow. its value mast not further be
threatened." Its basis mnst be endariag.
Presidest McKinley stands resolutely
by that portioa of the platform which de
clares ia favor of international bimetal
lism He yields not one inch in declaring
that It shall be his endeavor to secure it
by co-operation with the other great com
mercial powers of the world. And again
In this he will have the support of the
people. New Tork Commercial-Advertiser.
FalAllathe Hichest Exaectatioaa.
The iaaagaral address of PresideBt Mc
Kinley faifills the high expectations
which had been formed of the principles
adaenasn which would control his ad-
He sondes the keynote of
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"Put the building right here," said
President Jackson, thrusting his cane in
to the ground, a hundred yards east of
tbe White Honse. when, in 1833, a lo
cation for the Treasury building was to
bo determined.
The Federal government was transfer
red from Philadelphia to Washington in
the year 1800. It took six days then to
make the trip from Philadelphia to Wash
ington, which is now accomplished in
three hours. The Treasury was located
in a plain three-story building which had
been erected for the purpose, facing on
15th street In 1804 the business
had so grown that a new building was
necessary, and one was erected at the
enormous cost of $12,000. and was her
alded to the country as especially meet
ing the requirements by reason of the
fact that it was "fire proof." In August,
1814. however, the British proved that
there was a little mistake about this, for
they burned the Treasury building, as
bis policy on the money and tariff ques
tions by declaring that our currency laws
need such revision as will place our mone
tary system on a safe and enduring basis,
and he therefore recommended that Con
gress creave a commission to take under
early consideration the revision of onr
coinage, currency and banking laws. In
case the power to appoint snch a com
mission should be vested in the President
he pledges himself to appoint prominent
and well informed citizens of different
parties, whose known ability and special
fitness will command public confidence in
the results of their deliberations. As to
bimetallism, he would labor to secure it
by co-operation with the other great
commercial powers. St Paul Pioneer
Press. '
A Plain Maa'a Plain Talk.
President McKinley indulged in no ora
torical flights in his inaugural address
yesterday. It was the plain talk of a
plain, earnest man. But it had the ring
of the right kind of inspiration "the
chime between upright thinking and
downright acting" when after he had an
nounced a policy of business revival he
stated that he would call Congress togeth
er at once to meet on March 15. Buf
falo Evening News.
The Chart aad Coaipaas Displayed.
In a message so general in its character,
there is much more significance . in the
emphatic statement of generic principles
than in the old style of message, in which
the President enters into specific explana
tions of his proposed course of action.
President McKinley wisely avoids laying
before the public a detailed program at
this time, but he displays the chart aad
compass by which he will endeavor to
steer the ship of state This leaves him
freedom of action within certain well de
fined lines, and the lines are so plainly
drawn that there is no danger of the craft
going astray or striking upon the rocks
while so cool aad level-headed a pilot is
at the helm. Minneapolis Tribune.
He Has the Good Wishes of All.
In some respects William McKinley en
ters office auspiciously. He was elected
by the largest popular majority, except
one. ever cast for a candidate for Presi
dent His private character is above re
proach, his public career has been honor
able, and he wins the liking of people who
come in contact with him. Owing to hi
personality and to the circumstances at
tending bis election, he is therefore at
tended by the good wishes of most of hit
countrymen in assuming the highest post
in the republic Memphis Scimetar.
Wars Words treat the Seats.
So far as the sew President shall stand
for those things which we believe to be
right; and for the best interest xf tbe
country, so far the Telegraph will endeav
or to hold up his heads. So far as he
shall fail ia these things so far will the
Telegraph oppose him, for the time has
come when there should be more of par
tisanship based upon patriotism than of
partisanship based npon spoils. There
was a time, not long ago, when it was
difficult on account of a prescriptive pol
icy against the South, for Southern men
to manner-born to sustain any policy of a
Republican administration; bnt a speech
delivered by Maj. McKinley to Confeder
ate veterans of Virginia daring the cam
paign and utterances of his published to
the world a few days after the election,
irrevocably commit him to a fair and lib
eral policy towards the South. Macon
Telegraph (Democratic).
He Favors Bedareclty.
On the qaestioa of the restoration of
reciprocity the dedaratieas ef the Presi-
Heat arm rmAtA ami .! n ..1 -. n t
sot ealy ia favor ef the le-eaaetairat ef
THE TREASURY BUILDING.
they did the Capitol and White House,
when they entered Washington August
14th of that year. The Treasury was
then transferred to a group of buildings
in the western part of the city, which
were known as the "seven buildings.'
As soon as practicable another building
was erected, which was in 1833 destroyed
by fire, and a large amount of valuable
public documents lost. This was follow
cd by considerable controversy among the
people, who thought they ought to hare
a say in the location of the new Treasury
building, and it was to end this factious
quarrel that President Andrew Jackson
planted his cane in the earth just east of
the White House, and issued the order
qnoted above: "Put the building right
here." At least this is a local tradition,
and nobody seems disposed to dispute its
accuracy.
The corner stone of the present building
was laid In 1834 by Secretary of tbe
Treasury Levi Woodbury. The original
the reciprocity treaties in force under the
tariff act of 1880, but declares that the
satisfactory trial of reciprocity justifies
the granting of additional discretionary
power in the making of .new commercial
treaties, with the end always in view of
opening new markets for the products of
onr country by granting concessions to
the products of other lands that we need
and cannot produce. Chicago Times
Herald. Clear ea the Chtrreacy Qaearloa.
Nothing can be clearer than President
McKinley's monetary views as expressed
in his inaugural address. He assures the
country that "bimetallism will have early
and earnest attention," and it will be his
earnest endeavor "to secure it by co-operation
with the other great commercial
powers of the world." Brooklyn News.
His Carreaey Views Are Soaad.
The views of the President on this im
portant subject are very sound, and it
remains to be seen if Congress will rise
to a proper consideration of the situation
and respond to the President's earnest
presentation of the necessity for 'reme
dial measures. He favors the creation by
Congress of a monetary commission, com
posed of prominent, well-informed citi
zens of different parties, who will com-,
mand public confidence, both on account
of their ability and special fitness for the
work. New Orleans Picayune (Dem.)
Kevense the First Thlaa M
By far the most hopeful sign on the
horizon of the new administration is the
assurance that President McKinley gives
in his message that there is to be no im
mediate meddling by Congress with ear
monetary system no tinkering or cob
bling by indifferent financial mechanics,
for the present st least The new Presi
dent declares that a necessity exists for
some revision of our fiscal laws, and he
expresses s belief that a system better
than the present one can be devised; bat
now, he says, is not the proper time so
attempt it New York Morning Adver
tiser.
Fenteatioas Coat meat.
The message will add to the popular im
pression that Maj. McKinley possesses, in
an eminent degree, the genius of com
mon sense, and that he will make a pru
dent, safe, and at the same time pro
gressive President
Altogether the first official utterance of
President McKinley has the ring of true
metal, and will give general satisfaction.
The country is to be congratulated.
The address throughout is free from
obscurity and self-conscious cant. It is
practical aad will undoubtedly inspire
ceaaaence ana neip tne languishing busi
ness interests of the country.
President McKinley begins well and he
k entitled to a fair chance an oppor
tunity, unfettered by resentment or other
petty coasideratioB, to improve the pre
vailing conditions of Industrial distress.
The new President's inaugural address
has the especial merit of being short, but
it is pregnant with wise and fitting sug
gestions on these various topics, in which,
he sketches in broad outline the main fea
tures of the policy of bis administration.
Altogether the message will leave that
favorable impression upon the people
which is sure to follow upon the unequiv
ocal declaration of principles which Pres
ident McKinley is determined shall guide
his administration.
In all respects the address is a model
document The new PresideBt eaters np
on his career with the best wishes of the
American people. He has ostliaed a pol
icy which, if followed, will make his sd
atiakrtratieB a great success. It bmsbs
peace aad plenty for alL
building was of freestone from Virginia,
but it has received additions and exten
sions on either end, and tbe west
side composed of granite. The long col
onnade on the 15th street front shows the
plan of the original building, while the
northern and southern end and western
front are the extensions constructed of
polished granite brought from Maine. Tbe
building embodies the most perfect Gre
cian architecture, the long colonnade on
15th street being a marked feature to
those familiar with its appearance, while
the porticos on the southern, western and
northern fronts are surmounted by pil
lars of the ionic order. The additions to
the original building were begun several
yean before the late war, the south wing
being completed in 1800, the west wing
in 1863 and the north front in 1867, the
cost of the entire building being nearly
ten million dollars. The length of the
structure is 462 feet, the width 264 feet,
so that one must travel about a quarter
GENERAL EMPLOYMENT.
This Will Give Prosperity Wlthoat
Befereace to Other Theories.
The Impossibility of ever establishing
any commercial and industrial conditions
which will make everybody rich and pros
perous has Induced many thinkers to
adopt socialistic notions in which they
dream of a paternal Government which
will take from the rich to give to the poor
and keep up a constant and systematic
distribution of benefits to the entire popu
lation, aa Btterly impracticable scheme.
To come back to a reasonable and prac
ticable definition of prosperity, it means
that condition of affairs in which the en
tire able-bodied population is engaged in
productive labor at fair wages. When
this shall be realized, there will be a gen
eral activity in business, with money lib
erally invested in tbe development of the
natural resources of the country, includ
ing the building of railroads, particularly
in the Southern States. Of course, there
will be many persons who are dissatisfied;
but that wOl be the only general pros
perity that will be possible in this world.
New Orleans Picayune!
Bryan's Money Theory Won't Hold.
The whole structure of Bryan's recent
talks is built upon the theory that when
money is scarce times are bad. The best
times the United States has ever bad was
when money was scarcer than it is now,
and the hardest times the nation has
known for thirty years was when the cir
culating medium was at-its highest point
of issue. If Mr. Bryan had said that
times were good when money was plenti
fully in circulation, and bad when money
was hoarded away, his axiom would have
been all right, but to hold that the mere
act of Inflating the currency will drive
hard times away is to fly in the face of his
tory. "What the country needs," says Mr.
Bryan, "is money enough to transact its
business.'' What the country really needs
! business enough to call its eritin
money into service. According to the re
port of the Comptroller of the Treasury
there are now lying in the banks of the
country between five and six billions of
dollars. Paradoxical as it may seem, this
is nearly five times as much money as
there is in existence, and yet every dollar
of it is available for the transaction of
business. Business makes its own money
and is not dependent upon the amount of
currency set afloat by the Government so
long as there is enough to form a reason
able basis. With less money than at pres
ent the United States transacted billion
after billion more business In 1802 than in
1896. As well might Mr. Bryan say that
it is impossible to measure the wheat crop
of the United States because there are nor
eaoagh half-bushel measures to held it ail.
Kansas City Journal.'
No Room lor "Silver RepabUcaas."
There is no room in the United States
for a "Republican silver party.' The lit
tle clique of free coinage Senators and
Representatives who have issued a "call
for tbe creation of such an organization
will find L their efforts fruitless outside of
the mining camps and the strongholds of
prairie Populism. The regularly chosen
and accredited Republican national con
vention, held in St Louis last June, em
phatically demanded the maintenance of
the existing gold standard and pledged
the whole power of Republicanism to the
work of upholding the honesty of every
American dollar. This action was earn
estly indorsed by an overwhelming ma
jority of Republican voters st the time
when it took place. The Republican par
ty ratified it with absolute explidtness at
the polls en Nov. 3. The Republican posi
of a mile in walking around it, the long
corridors within its walls measure miles
in length, and the number of people wh
are daily employed in its various depart
ments is over three thousand, while in
other buildings which have been leased
for such portions of tbe work as cannot
be accommodated within the Treasury
building are an additional thousand or
more. The employes of this department
of the government make a sufficient num
ber to stock a respectably-sized city. From
10 a. m. until 2 p. m. its doors are open
to the public, who freely visit all parts of
it except the vaults where the bonds and
the gold and silver are kept. To these
visitors may obtain admittance by spe
cial order from the Treasurer, and they
are visited by many thousands of people
annually. Next to the Capitol and White
House the Treasury building is the object
of attention from all visitors, and the in
terest in it warrants the presentation of
the accompanying illustration.
tion on the currency is fixed and final. It
is aa definite and distinct as the party's
creed in regard to the rights of secession
or the policy of protection to American
industries. Republicanism stands for
sound, honest dollars, worth 100 cents in
gold, as firmly as it stands for tbe en
forcement of Federal authority and for
the supremacy of the nation.
Senators Teller, Pettigrew. Cannon
and their associates have no right to the
Republican name so long as they persist
in their present policy. Exchange.
THE LOSS IN FOUR YEARS.
The
Plft-erea
Are
Simply Appall-
ina.
It is impossible to compute tbe exact
losses inflicted on manufacturers and
wage earners nnder the Democratic free
trade policy. Excellent authorities place
the average yearly loss in wages, as com
pared with the amounts paid during the
presidency of Harrison at not less than
$250,000,000. This would make a total
loss in four years of $1,000,000,000 to the
wage earner. The shrinkage in the value
of real estate, railroads and productive
properties of all sorts it is likewise impos
sible to measure accurately. The most
competent statisticians, however, estimate
the cost to the nation in the fall of wages
and depreciation of values since March 4,
1893, at from three to four thousand mill
ions of dollars. In other words, the Dem
ocracy's stubborn attempt to reverse the
fixed protective policy of the United States
and substitute for it the policy of free
trade, has cost the American people a sum
about equal to tbe expense of putting
down the rebellion.
The Fifty-fifth Congress will legislate
for Americaa producers snd not far for
eigners. The soundness of the currency
win oe unssssiispie under a Republican
administration pledged to preserve the
gold standard. The prospect is luminous
with encouragement New York Com.
mercial Advertiser.
Mr. Bryan's Diamonds.
Mr. William J. Bryan appeared before
an audience which about filled two
thirds of Carnegie Hall in New Tork
last night This friend of the "toiling
masses" and enemy of plutocrats ap
peared in better form than when he was
campaigning. His girth is greater, his
cheek filled out and he had two dia
monds in the expansive front of his shirt
nis smrt I
When he was campaigning he only had I
one, but as he is now rolling up riches
snd is not dividing to sny extent with
the "toiling masses" he can afford to be
deck the bosom of bis shirt with rare
and radiant gems which dazzle the eyes
of the honest citizens with long whiskers
who reside oa the banks of the raging
Platte.
The wearing of diamonds and eBuaeia
ttoa of the peculiar principles Mr. Bryan
affects, do sot go well together. Albany
Journal.
Secretary Skersaam Is an Americaa.
There was no dodging and no trimming
in Senator Sherman's speech at tbe din
ner given him at Washington last night
by the Ohio congressional delegation. He
faced the Cuban situation more squarely
than his immediate predecessor has ever
done, and be announced his policy in
terms that will permit of no shuffling in
the future.
"We intend," he said, "to protect our
citizens, whether they be on land or sea."
He expressed the opinion that the time
was not far distant when the whole west
ern hemisphere would be nnder a repub
lican form of government, and he said it
was our glory to build up among oar fel
low republics in North and South Amer
ica examples of oar own.
"We find in the South daily evidences
sf a growing trade revival, aad being a
sanguine people, we hope that aa era of
general prosperity is at head. In Georgia
the great majority of the cotton mills are
running, giving employment to 4.000 or
5,000 people. We have about 3.000.000
spindles in operation, but 1 must admit
that tbe price obtained for tbe manufac
tured product is not satisfactory. Now
that tbe financial question has been set
tled for the time being at least, general
attention will be given to trade conditions
with beneficial results. I do not care, how
ever, to make any suggestions a. to how
trade can be immediately benefited. That
would embrace a discussion of the ques
tion of currency reform, to which I cannot
devote the time at present" From inter
view with Senator Walsh. Democrat.
Business has been resumed. A thrill
has gone through every artery and nerve
of the commercial world. The spirit of
enterprise nas gone tortn. im- sun : in
tbe sky and the clouds are dixappearing.
With manufacturers it is becoming a
question of bow much rather than how
little to do. This is a glorious condition
and indicates an absolute reversal from
that which obtained a year ago. A list of
all the mills and factories which have re
sumed operations since tbe November elec
tion would be a very long one and the in
crease in their number will continue un
questionably throughout the spring
months. The collapse of the iron pool
seems to have been the determining factor
in the stimulation of industrial energy ev
erywhere, and that was brought about by
the impact of an irresistible demand up
on the accumulated stocks. Everybody is
now going to market. Macon Ua.) Tele
graph (Dem.).
The answers to a very genera! iminirr
regarding the conditions of business art
not jubilant, but they are buoyant ami ex
press the opinion that some improvemenr
is discernible. Althongh deficits continue
to be shown in every monthly statement
of the treasury, the condition of the treas
ury is strong. The best indication of con
fidence is the gradual increase of the gold
reserve in the treasury. It is now nearly
00 per cent more than the $100,000,000
which custom has established as the limit.
A year ago tbe question which ngitated
the business of tbe country was the possi
bility of maintaining the gold reserve be
cause of the raids made upon it No one
thing so seriously disturbed the business
of the country as tbe fear that tbe treas
ury might fail to continue gold payments.
That fear has passed, and the return of
confidence is indicated in the preference
of those who have money for greenbacks.
Confidence in the monetary situation is
the foundation of all improvement in busi
ness. Another favorable indication ia our
improved foreign credit. Our securities
are no longer returning for redemption.
and the drift of trade in our favor has cre
ated a large and increasing balance on our
side of the sheet Manufacturing indus
tries are looking up. Indianapolis Jour
nal. In general trade the encouraging symp
toms continue to outnumber the-discouraging.
The net impression of the past
week is one of distinct improvement. This
is particularly obvious, as the daily dis
patches have shown, in the iron and steel
situation. Bessemer pig iron, steel billets
and steel rails have all advanced in price,
under the influence of sharply strength
ened demand, and there has been a' re
opening of many idle mills and furnaces.
Boston Journal
From every direction comes the cheer
ing news of the starting up of idle shops
and mills or an increase in tbe production
of those already in operation. Yester
day the Candee rubber footwear plant, at
New Haven. Conn., employing 1,200
hands; the Riverside Steel Company, near
Parkersburg, W. a.. employing 1,800
men; the Farwell Worsted Company, at
Providence, R. I., employing 500 hands,
and the silk mills at South Norwaik,
Conn., resumed work after a long period
of inactivity, and the repair shops of the
New Haven Railroad system in New Ha
ven, Providence, Taunton. Boston and
Hartford, which employ 6,000 men. have
begun running ten hours a day. The Sil
ver Spring bleachery. at Providence, em
ploying 550 hands, and the large yarn
mills at CeBtreville, R. I., employing 1.000
hands, have commenced to run full time.
Before the present week closes other fac
tories all over the New England and Mid
dle States will again be in operatieav
New York Commercial Advertiser.
Genuine improvement in business does
not come with a rush, like the breaking of
a great dam. Tbe growth for some weeks
past aaslbeea more encouraging, because
hi nearly sD liBes it has been gradnal sad
moderate. The rupture of tbe steel rail
and other combinations in the iron busi
ness has brought out a vast quantity of
trade which had been held back, and has
set many thousand men at work, while
the slow but steady gain in other great
industries has given employment to many
thousand more, but the full effects will
not appear until tbe increased purchases
by all these swell the distribution of goods.
This comes more slowly and later, bur is
. z .. ". n .
Ireaay PP"f .
President McKinley can do much to in
spire confidence, but taking the oath of
office as President gave him no magical
power to bring to the country universal
prosperity. That depends very much up
on the legislation of Congress. If that
body fails, to enact the laws which he hss
so dearly suggested ia his inaugural, his
admlaistrstiea will not be sttended with
that BMasure ef general prosperity which
the intelligent people of the country have
a right to expect The President has done
all that he can do for the present He has
indicated the legislation which he deems
necessary and he has called Congress to
meet Those who are in fall accord with
him in Congress will have bills prepared
and will promptly make them laws if they
are not hindered by hostility in the Sen
ate. Bxchange.
Saaplcioaa.
Landlord (to agent) I wish yoa'd
keep a close watch on the people who
have that boose on X street. I'm afraid
they're up to something.
Agent What has aroused yoar ssjspi
dons? Landlord They haven't asked for
any repairs this month. Cltyaaia 3
Ledger.
-j
