File:Benner's prophecies of future ups and downs in prices; what years to make money on pig iron, hogs, corn, and provisions (1907) (14802060203).jpg

Identifier: bennersprophecie04benn (find matches)
Title: Benner's prophecies of future ups and downs in prices; what years to make money on pig iron, hogs, corn, and provisions
Year: 1907 (1900s)
Authors: Benner, Samuel. (from old catalog)
Subjects: Business cycles Prices
Publisher: Cincinnati, The Robert Clarke company
Contributing Library: The Library of Congress
Digitizing Sponsor: The Library of Congress

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sound, and the ability ofconsumers to absorb and pay for their wantsand luxuries, large emigration and greatgrowth, the startling fact present itself thatbusiness can and does stagnate and becomesvery much depressed in these repetitions of thelong terms of decline in iron.f Better times can not come for general busi-ness, until the price of iron shows that it is in-demand in the industries of this country. Andto answer the above inquiry, the record of thenumber of failures is here given, and the upsand downs in iron in the past and extended in-to the future, showing how Jong these numerousfailures must continue- FAILURES. 147 :no. of :f^\.ilxjres 1854 1855 1856 1857 4,932 1858 4,225 1859 3,913 18(30 3,676 1861 6,993 1862 1,652 1863 495 1864 520 1865 530 1866 1,505 1867 2,780 1868 2,608 1869 2,799 1870 3,546 1871 2,915 1872 4,069 1873 5,183 1874 5,830 1875 7,740 1876 9,092 1877 8,872 1878 10,478 1879 6,658 1880 4,735 1881 5,582 1882 6,738 1883 9,184 1884 1885 1886 1887 1888 Iron high.
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148 benners prophecies. It can be seen, by the foregoing diagram, thatwhenever iron is high there is a less number offailures, and as iron declines in price, and islow, the failures increase, and reach their great-est number when iron is at its lowest point. This showing indicates that there will be anincreased number of failures, over and abovethe numl)er for 1883, before we get a turn inbusiness affiairs, as we have not reached thelowest limit for iron in this decline. EAILEOAD STOCKS. The magnitude of the railroad interest of thiscountry, has given it the position of the greatleading element for speculation and invest-ment. This business has grown so extensively in theUnited States, in the past twenty years, that itexcites admiration and wonder. In 1860 there were only 30,635 miles of fin-ished road, and about 250 members of the NewYork Stock Exchange. In this year there isover 120,000 miles of road, with over 1,000 mem-bers of the New York Exchange. This great activity in railroad

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