Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1890-12-03
MARKED IMPROVEMENT in BUSINESS,
Striking Increase in Trade at Home and
with Foreign Countries.


with Foreign Countries.
I congratulate the Congress and the country
upon the passage at the first session of the Fifty
first Congress of an unusual number of laws Of
very high importance That the results of this
legislation will be the quic kening and enlarge
pent of our manufacturing industries. larger
and better markets for our breadstuffs and
provisions both at home and abrond more con-
slant employment and better wages for our
working people. and IN increased supply of
safe currency for the transaction of business 7
do not doubt Some of these measures were en-
acted at so late period that the beneficial eff
tects upon commerce which were in the con
temptation of Congress have as vet but partially
manifested themselves.
The general trade and industrial conditions
throughout the country have shown marked
improvement. For many years prior to 1888 the
merchandise balances of foreign trade had been
largely in our favor, but during that year and
the year following they turned against Us. 1t is
very gratifying to know that the last fiscal year
again shows a balance in our favor of over $685.
000,000 The bank clearings, which furnish II
good test of the volume of business transacted
for the first ten months of the year 1899, show,
compared with the same months OF 1882 an in
crease for the whole country of about 8.4 per
cent. while the increase outside of the city of
New York was over Is per cent During the
month of October the cleariugs of the whole
country showed an increase of g. per cent. over
October, 1889. while outside of New York the i'll
crease was HI per cent. These figures show
that the increase in the volume of business was
very general throughout the country. That
this larger business was being conducted upon
q safe and profitabl basis is shown by the fact
that there were 300 less failures reported in Octo
ber 1890, than in the same month of the preced-
ing year, with liabilities diminished by about
S5,000.000.
The value of our exports of domestic merchan-
disc during the last year over S115,0000 0G
greater than the preceding year, nd was only
exceeded once in our history About 500 0OO,-
0l0 Of this excess was in agricultural products.
The production of pig iron-always a good
gauge of general prOSperity--is shown by & re-
cent census bulletin to have been 153 per cent.
greater in 1890 than in 1880, and the production
of steel 29O per cent. greater. Mining in coal
has had no Limitation except that resulting from
deficient transportation. The general testimony
the reports for the last ear show smaller num-
Der of employees affected by strikes and lock-outs
than in any year since 1884 The depression in
the prices of agricultural products has been
greatly relieved, and buoyant and hopeful tone
was beginning to be felt by all our people.
These promising infuen ces have been in some
degree checked by the surprising and very un-
favorable monetary events which have recently
taken place IN England 1t is gratifying to
know that these did not grow in any degree out
people, or out of any discredit attached to our
securities held in that market. The return of
our bonds and stocks was caused by money
stringency in England. not by any loss of value
credit in the securities themselves. We could
not, however, wholly escape tie Ill effects OF a
foreign monetary agitation accompanied by
such extraordinary incidents characterized
this. II is not believed, however, that these evil
incidents which have or the time 1InfavOrab bly, af-
fected values in this county, can long withstand
the strong, safe and whole ONE influences which
are operating to give to our peopte profitable
returns in all branches of legitimate trade and
industry. The apprehension that our tariff
may fgain and at once be subjected to i'm
portant general changes would undoubtedly
add depressing influence of the most serious
character.