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Newspaper
Chehalis Bee
Location
Chehalis, Washington, United States of America
Date
Oct 22, 1897
Page
12
Kansas City Journal and Cleveland Leader discuss rising prices and mortgage payoffs as factors in national prosperity. Farmers pay down debts amid lower loan rates, while broader markets climb with wheat and other staples. The piece cites Gov. Tanner and Chicago Inter Ocean as noting stock and mortgage wealth gains totaling about 1.3 billion dollars.
The piece argues revival gains may stem from wheat crops rather than tariff policy. It notes farmers hold grain for higher foreign demand, delaying cash circulation. Trade reports show 34 percent rise in unionized employment and 8 percent monthly output growth in iron, plus wheat price gains and broad price increases across farm and manufactured goods.
The Detroit Free Press argues Americans are better off than many nations. While famine grips the East and Ireland, the U S enjoys abundant harvests and rising grain prices. It attributes prosperity to supply and demand, noting farm wealth and markets steady.
The Kansas Bank Commissioner J. W. Breidenthal, once a Bryanite opposing prosperity unless free coinage prevailed, now heralds a bright state economy. He praises a wheat boom, rising prices, and abundant cattle as proof of growth and farmers’ ample production in the current year.
The piece attacks famine rhetoric and argues the U S cotton position is strong while wheat remains tight due to foreign factors. It cites figures on cotton exports and asserts wheat values are at risk, noting a $25 million uplift in crop worth over five years per the New York Press.
Southern mining and manufacturing enterprises report robust conditions as the season ends. The Memphis Scimiter notes cotton manufacturing in the South is expanded by proximity to raw materials and favorable climate, with mill consumption surpassing a million bales for the first time.
The article notes a rapid rise in property prices following a tariff signing and Congress adjournment. It contrasts Democratic taunts about slowness with a strong market boom driven by wheat shortages and higher costs across assets. It emphasizes broad price increases beyond grains.
The article argues pig iron output, a key prosperity barometer, rose after the tariff. It notes weekly production climbed from 112,782 tons in October to about 170,000 in spring, then hovered, and surged to 164,000 at July start before tariff passage. August saw a further lift and September reached record highs.
The piece argues prosperity is uneven but visible city and state wide, noting banks lending freely, merchants hopeful, and employment rising. It cites a 45.6 percent rise in weekly bank clearings nationwide and a 43.2 percent gain in Minneapolis as signs the revival will reach the region in full.
The article argues tariffs raised farm prices beyond wheat, noting wide price gains in corn, oats, rye, pork, butter, cheese, hops, hides, potatoes, and lambs. It cites Department of Agriculture data and states the Dingley tariff created full time jobs, lifting rural incomes and prosperity.
Jubilant in its proclamation of business revival the review says there is no halting in the advance with steady increases in production and workforce. New York reports show wheat rising and over a hundred staples higher with continued demand for manufactured goods.
Farmers swiftly recover eighty million in sheep value lost under free trade policies.
Omaha Bee accuses William Jennings Bryan of foraging for railroad passes and favors from Southern Pacific and other lines. The piece details passes issued in the World-Herald context, calls out alleged deception, and notes interstate laws prohibit such free transport to non-employees.
The Kansas City Journal reports Atchison coverage of Mr. Bryan's speech critiquing Republican claims about dollar value. It argues that money supply rose since 1873 while prices fell, challenging the link between demand and dollar value and noting per capita dollar circulation increased to 24.30 from 18.04.
A New Orleans Picayune reprints a harsh critique of Debsism denouncing Social Democracy as un-American. The piece accuses social democrats of wealth worship and calls for not suppressing their excesses while warning the public to resist what it deems semi socialist and semi anarchist aims.
The Illinois Federation of Labor re adopts a free coinage plank at 16 to 1 but offers no argument on labor benefits. Advocates fail to show how labor gains. Illinois workers hold eighty million dollars in building and loan investments. a 7114 grain free coinage would cut value by about 60 percent, costing labor forty eight million dollars on that item. The working people of Illinois have loaned 2515 millions in gold value dollars.
The Chicago Tribune argues that adopting free silver at 16 to 1 would depreciate currency by about 60 percent, harming depositors by 151 8 millions and harming building and loan investments. It notes wages would lag price rises, reducing real purchasing power despite nominal gains.
The article critiques Director Preston for delaying a statement on the relative values of silver and gold yen coins, arguing the data would have explained Japan’s demonetization move. It notes a table of decade-long values and suggests the figures reveal why wheat tops a dollar while the free coinage dollar falls below forty cents, citing Japan’s 1897 figures.
Reports from Rhode Island praise improved mill activity under the Dingley tariff. Lonsdale mills resume full operation with 5,000 workers, Woonsocket wages return to 1893 levels, and new mills near Olneyville and Blackstone are planned or reopening, signaling broad economic gains.
The column rails at Bryan and McLean while tracing wheat and wool prices, silver value declines, and farm mortgage payoffs. It notes British money entering San Francisco for wheat, predicts Populist shifts, and questions tariff effects and Democratic unity ahead of 1900.
Secretary Wilson argues the United States can grow its own sugar beets and camphor to keep money at home. He notes beet sugar could reduce foreign imports, boost farmer income, and warns against overinvestment in unsuitable areas. He cites tests from 2,200 farmers and potential Florida camphor groves as a new diversification. He predicts earlier bounty support would have spurred independence.
Postmaster General Gary, after study, favors establishing postal savings banks and will advocate the measure during his tenure. He has not yet outlined a plan but will include details in his report to the President at the start of the next Congress session.
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