The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-01-28
GROUNDS FOR HOPE.
Statistics Which Should Restore
Public Confidence.

is bull:
New YORK, Dec. 90, 1890.
DEAR SIR You ask mo why l am
SO hopeful of the future of tho stock
market, in view Of tho feeling Of dcs
pondency existing as to the commercial
situation.
can answer that to my own satisfac-
ton in q moment. but it takes pretty
long story to convince or impress the
doubling. In looking over some Stats
tics the other evening, ] extracted somc
items that l think justify my position
and offer proof that general considcra-
tions of prosperity and steady growth
must overcome special causes Of tempo
rary depression.
1 append the list of some reasons and
hope they may impress you as they
do me.
Yours truly, JOSIAH C. REIFF.
a few statistical reasons why l am
bull, based on the progress Of the United
States from 1870 TO 1890:
The population of the United States
has increased from IS $3.50 to CO, 62a,-
$50. The interest bearing public debt
has decreased from S2,Ot6, 55O,72 to
SS29, 1853, 900. The interest charge has
decreased from Sis, 7S4, $3.50 to SO, 1872
354. Tho debt per capita has been re-
duced from $6O.46 to Sl5.12, and the in
terest per capita has been reduced from
S3.08 to S0.53.
Notwithstanding tho gross revenue
collected per capita was Sl0.67, it was
reduced to S6.0l; and notwithstanding
the expenditures wcrc reduced per
capita from .O3 to 81. 80, the excess Of
revcnno was $lOl ,601 ,0l6, and 2lO5, O53.-
C42; and meanwhile, the cash in the
United States Treasury increased from
Sl0G, 307,a63 to 1918, ,17o
Because gold increased IN the United
States from $l35, coo. 900 to $3.50, O63,-
5n..
Tho number OF national banks iu-
creased from l,57l to 1904, and their
capital and surplus increased from
500. 4S5.20l to S7J6, $50, 0G9
Tho number OF saving banks increased
from G39 to SAL and their deposits in
creased from $500. 400, 39S to 81, 4a5, 800.
$40 and tho number OF dcpositors in
creased from 3,0l5,055 to 4,O2l,532.
The production of anthracite and btu
tons to 143. oar. 035.
from l,Ge5, 10 tons to G,4S9.73s, while
the price per ton was steadily reduced
from S33.25 to Sl7.75.
The production Of steel rails was in
creased from 30,3j7 tons to 1,390,97i,
while the price was steadily reduced
from S106.75 to $3.50.
The wheat crop increased from 235,-
1884, 700 bushels to 400, 500, 900. And the
corn crop increased from l,004,255
bushels to 2, 1889 The value OF the
hay crop increased from S33S, 0Go, $50 to
sos, 490,565.
The value of fam animals incre ased
from 81, SIG, 917, $50 to S2,4lS, 10000
Tho value of cereals has increased
from 1897, Aga, O1s to 81. 800. 255, 39S
The value Of metallic and non-mctal-
lie mineral products has increased from
S413,001, 74S to sol, 672,7 95.
The cotton crop has increased from
3,1l4,502 to 1885, OS2.
creased from 1916, SIC, 473 to $3.50, aS2 ,6l9.
or which the export of domestic manu-
features increased from $7S,35O,4ll to
Sl3S, ,50T.
The postofliccs increased in number
from %, 49S 20 5S,999, while the revo-
nue. increased from S10,772,221 to $50,
1851.
Railroad mileage increased from
7G,s0S to l6l.3o7, while gross earnings
have increased from S497, 25T,059 to
Sl,003. $1,000. And net earnings from
SlsG,4j2,752 to S322. 2S4, 1886, while the
rate per ton per mile on freight was ro-
duced from 90. 1926 to OO.9T6.
The nccesSaries Of life have been oon-
stantly reduced in cost to the consumer,
as follows: