The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1878-09-18
M BALANcE OF TRApE

or an average OF over Sil0 0o) 900.
As we have already seen, the bal
ance Of trade in the last three year:
in favor of the United States i:
$4SS, $50, ,539, or an average more
than $l6O, 100000 a year. The bal
ance of trade the last year, if com
pared with that of two years next
before the panic, shows a gain in
favor Of the United States, in one
year, Of over 100000, 600
1t is net necessary that / should
dwell upon the importance of this
favorable state of the balance of trade.
Balances must be settled in cash-in
the money of the world The enter
/ prises OF our business men reach out
to all parts Of the world Our agri-
cultural and manufactured products
more and more seek and End their
markets in foreign countries. The
commerce Of sll parts of the world,
bound together more than ever be-
fore by steamships, railroads and
telegraphs, is so connected that it
must be conducted on the same prin-
ciples and by the same instrumen-
talities by all who take part in it
COMMERCIAL RESPONSIBILITIES.
We cannot if we would, we should
not Il we could, isolate ourselves
from the rest of the commercial
world. In ell our measures for the
improvement of our financial condi-
ton we should remember that our
increasing trade with South Ameri-
CO and the Old Word requires that
our liaancial system shall be based
oa principles whose soundnsss aud
wisdom are sanctioned by the uai-
versal experience and the general
Judgment of all mankind. With d.
minished and still diminishing public
burdens Of debt, expenditures and ia
terests, with an improved condition
of currency and foreign trade, We
may web hope that we are on the
threshold Of better times. But we
must not forget that the suFes. foun-
dation of restored financial pros
peTity is sound constitutional cur
reucy and unssaiHed national credit
There is another interesting sub
! jecs that is worth giving attention to,
and think is encouraging and full Of
hope. The surplus population Of the
Atlantic slope Of States are finding
their way, as they have never done
before, TO the beautiful States and
territories cf the West. (Applause) }.
Aud wha. does that mean? 1t
means relief 70 the East The sur
plus population that goes OF gives 9
o better opportunity fer the employ
ment of bor and industry there and
here. IL tbe new States they are
making their homes, and they are
furnishing ihem 4 marke. for the sup
plies from the old States; but it has
more than O double advantage.
There are three advantages. 1t re-
licyes the States, furnishes market
to the old States, aud with their pro-
duets in the new States they help to
swell the tide OF exports to the cid
countries. That's what this change
of population means. You know
much more about it than DC. Yea
have lived here ard seen it.
PAST AND FUTURE
To-day | had conversation with
verv young gentleman, Gov Ram
sey, OF Minnesota. (Great laughter
aud applause | thought some of
the people would be pleased to hear
me call bin so yonng. daughter }
lie remembers about 80 wears ago,
when ia this whole territory cf Mn
nesota and Dakota they maGagod,
by counting up hslfbreeds and oil
sorts Of good cJuating, to make 10
the census 800 people daughter }
In this town of st. Paul they per-
haps had $50 Inhabitants down st
Minneapolis perhaps so The pre-
else number in Minnesota | do not
know, and now If you are not a
million you soon will be (Applause }
And st. Paul-well, | can't venture
upon that, am afraid but the truth
is, my friends, st. Paul and the
neighboring flourishing city of Min
nsapolis, whatever YOU may think,
are one in interest. one in the future,
one great city in spite Of pres
ent difficulty. (Great and prolonged
applause They laughed AT me
little, you know, as being disposed TO
coneiliste. (Great Iaughter.) |
may be mistaken, bat | think ten
years will show a city of one hun
dred, one hundred and fifty, or two
hundred thousand. embracing 10 its
precious fold both the cities Of ST.
Paul aud Minneapolis. (Great ap-
plause.