Omaha daily bee., 1890-12-02
NEW LAWS ENACTED.
Beneficial Results of the Legislation
of the Recent Session.


congratulate the congress and the coun-
try upon the passage at the first session of
the Ffty-first congress of an unusual number
of laws of very high Importance. That the
results of this legislation will be the quicken
ing and enlargement of our manufacturing
Industries; larger and better markets for our
breadstuffs and provisions both at home and
abroad more constant employment and better
wages for our working people, and an in
creased supply of safe currency for the
transaction OF business do not doubt Some
of these measures were enacted at so late a
period that the beneficial effects upon COM
mcrce which were in the contemplation of
congress have as yet, but partially mani
tested themselves
Improved Business Conditions.
The general trade and industrial conditions
throughout the country during the year have
shown q marked improvement. For many
years prior to 1888 the merchandise balances
Of foreign trade had been largely in our
favor, but during that yeas and the year fol-
. lowing they turned against us. 1t Is very
gratifying to know that the last fiscal year
again shows Il balance in our favor of over
SbS S0O0,OO0. The bank clearings, which fur
nish good test of the volume of business
transacted, for the first ten months of the
year 1880 show, as compared with the same
months of 1889, an increase for the whole
country of about S4 per cent, while the in
crease outside of the city of New York was
over l3 per cent. During The month of Octo-
Der the clearings of the whole country
showed an increase of 81 per cent over Octo-
Der, 1889, while outside of New York the in
crease was II 5-lO per cent These figures
show that the increase in the volume of busi-
ness was very general throughout the coun-
try. That this larger business was being
conducted upon safe and profitable basis is
shown by the fact that there were 300 less
failures reported in October, 1880, than in
the same month of the preceding year, with
liabilities diminished by about s5,0OO,OOO.
Increased Vaiuc of Exports.
The value of our exports of domestic
merchandise during the last year was over
$ll5, 100000 greater than the preceding year
and was only exceeded once in our history.
About 500, 900, 900 OF this excess was in agri-
iron, always good gauge of general pros
perity, is shown by !, reGent census bulletin
to have been l53 per cent greater in 1890 than
in 1889 and tb9 production of steel
200 per cent gredter. Mining in
coal has had no limitation except that result
ing from inefficient transportation. The gen
eral testimony is that labor is everywhere
fully employed and the reports for the last
year show smaller, plumber of employees
affected by sIrikes and fockouts than in any
The Recent Financial FURRY.
The depression in the prices of agricultural
products had beeny greatly relieved and a
buoyant and hopeful feeling was beginning to
be felt by all our people. These promising in
fuences have been in some degree checked
by the surprising and very unfavoraDle
monetary events which have recently taken
place in England. 1t Is gratifying to know
this did not grow in any degree out of the
| financial relations of London with our people
or out of any discredit attached TO our securi'
| ties held in that market The return of our
bonds and stocks was caused by
money stringeucy in England, not by any loss
of value or credit in the securities them
selves We could not, however, wholly es-
cape the ill-effects of foreign monetary agi
tation, accompanied by such incidents us
characterized this 1t is not believed, how
ever, that these evil incidents, which have
| for the time unfavorably affected values II
this country, can long withstand the strong
| safe and wholesome influences which are op
Grating TO give to our people profitable re
turns In all branches of legitimate trade anc