The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1879-10-16

weeks to the West and Northwest I thought
it might be useful to speak of
THE FINANCIAL CONDITION OF THE COUNTRY,
and prospects. The business depression which
followed the panic of 1873 had then lasted five
years but there were indications of improve
ment, and lt seemed to me that what was most
needed was confidence, and that presentation
OF encouraging facts and figures would tend to
inspire confidence. 1t was my opinion, also,
that there could be no permanent revival OF
business prosperity until the currency was
placed upon sound basis, and was exchange
able at its par value in the universally-recog-
nized money of the world. The friends of the
constltutlonal currency generally believed that
this end could only be reached by the faithful
execution of the Resumption Act; that there
was no need of further legislation and that the
true policy was to stop tinkering with the cur
rency. Accordingly, the pith of what [ wished
to say last year to audiences like this was, that
we ought to "let well enough alone" Now
the resumption of specie payment has come,
and with it haye come also better times.
The evidences of good times are numerous,
palpable and cheering. One bright day in June
last, more steamers-more shipping of all sorts
gathered in New York harbOr than was ever
before seen in that great mart of commerce,
parati7ely than the number of vessels. The
Ines OF the Pennsylvania Railroad east of Pitts
burgh and Erie, for the first seven months of
This year, as compared with the same period
$l20o294, an increase of expenses of $759,985,
and an increase of net earnings of $44S, 300; the
lines of the Philadelphia and Reading Railroad
(the great anthracite oal-road) a net increase
of $l,340,000 for the same period. The latest
published statement of the Erie Railway Com
pany shows net increase of 1851 900. The Bal
tlmore and Ohio Railroad Company shows net
increase of $685. 600 for the first ten months Of
it's current fiscal year beginning in October last.
1t is estimated that more than thousand miles
of railroad track have already been laid this
T11ifn toto tn1p IlnnOr
than in the same period in any year since 1878.
workers in iron and steel find their
BUSINESS RECOVERING so RAPIDLY
from it's great depression that they are unable
to fill their orders. and their annual production
is likely to surpass the highest figures ever
reached. The building of iron steamships in
successful competition with Europe is fully
established on the Delaware. Our cotton fac
tories are again all at work, and running on full
time. Our mines of precious metals are in
creaslng their product and it mainly stays at
home. Our manufactures go abroad more than
ever before; our currency is exchangeable at
par in the markets of the world with the money
OF the world; and, finally. and most important,
the demand for labor has increased and is in
creasing. 1t extends to cotton mills iron and
glass works, machine shops, brick making.
building, the clothing trade, and nearly all
branches of industry The "Philadelphia
Record" on the authority of Well-knOWn Sta
tician, states that there are twenty thousand
more laborers employed in that city than there
were year ago. Our exports for the year
1878 amounted to $710,43944l, and the excess
of exports over imports was 1854 661 ,661, both
sums being greater than in any previous year.
The following table shows the rapid advance
our farmer and manufacturers are making in
supplying both the foreign and the home mar
kets. They were prepared by Mr.. Joseph
Nimmo, Jr., the able chief of the Bureau Of
Statistics of the Treasury Department.
DOMESTIC EXPORTS.
Values of the principal commodities of do
mestic production, the expectation of which
greatly increased from June 30, 1868, to June
80, 1879.