The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1880-01-17

$l,s54, 1000



The estimated value of the six leading crop
is thus 81, s54, 800, 600 for 1879 against l43O-
400 900 for lS7S-an increase of S424 400 900, or
at the rate of nearly 80 per oent. AS a rule,
the increase in quantity does not equal the
gain in value, and in some instances there is
a decrease in quantity; and therefore the aug
mentation of value must be regarded as part
ly due to rise in prices The rise in the
price of agricultural products however, is to
be accepted as affordinR basis in the ordinai
ry equities of trade for the continuance of
the rise in the prices of other commodities that
has occurred during 1879.
Our mining industries have also made very
important progress during the past year. The
output of anthracite coal has exceeded by
eight million tons, or about fifty per cent,
that of 1878, with the result ofan important
recovery in the finances of the coal railroads
as this gain is due to the general activity of
manufacturers and oFthe iron trade there is
no reason to see why the improvement should
not be carried through 1880. The iron trade
has SO recovered within the last six months
that almost every furnace in the country, even
those considered worn out, are in full blast;
and at the close of the year the rate ofprOduc-
tlon was estimated to exceed by sixty per
cent. that of 1878. The large orders from
railroads, not only for new lines but also for
long deferred requirements. may be trusted
to keep this branch of trade employed to Its
utmost capacity throughout the year.
The foregoing arc the principal facts, relats
ing to our material condition, with which we
start the new year. 1t is hardly possible to
mistake their significance. They clearly in
dicate another year of marked activity in
trade and of general prosperity. A further
stimulus has yet to come from our supplying
the extraordinary deficiencies in the European
grain crops. or the $50, 100000 bushels of
wheat which it is estimated Europe will need, !,
we have MS yet exported only some 9OOOO,OOO
bushels, and the remaining half on the pres
ent basis of prices, would realize for us in the
foreign markets about l360oO,o0O, to say
nothing OF what may come from exports of
Indian corn. The moving of this large amount
of grain to the seabOard will provide for the
railroads a very active traffic during the win
ter and spring months which, at their pres
ent rates of freight, should make the next
half year one of extraordinary prosperity to
the Trunk and Western roads.
The monetary requirements of our enlarged
trade have produced temporary activity in
money at this center; but, with an accession
of $50 ,oOO, coo of gold from Europe within the
last six months, and $50, 100000 more from
the mines within the same period, there
is no sufficient reason to apprehend that
the money market will prove source
of embarrassment to trade. 1t is quite
probable that Europe may ultimately feel
| keenly the loss of so much of the precious
metals and that consequently the foreign ex-
changes may take a turn calculated to draw
back the specie that has come hither In such
unprecedented volume; but, with the large
amount of breadstuGs that England has yet
TO take from us, such an eniux of money is
not to be reckoned upon as a matter Of the
immediate future. HENRY CLEws Co.