Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1892-12-16

Navy-Chiet Accomplishments of
the Departments.
To the Senate and House Of Representatives:
in submitting my annual message to Con-
gress have great satisfaction in be ing able
to say that the general conditions affecting
the commercial and industrial interests of
the United States are in the highG1t degree
favorable. A comparison of the existing
Conditions with those Of the most favored
period in the history of the country will.
believe. show that SO high tegree Of pros
perity and SO general diffusion of the COM
forts of life were never before enjoyed by
our people.
The total wealth Of the country in 1860
was SIC, 159, SIC, 06S. III 1890 1t amounted to
$62, 610, 900, O0O, an increase of 287 per cent.
The total mileage of railways in the
United States in 1860 was 80, 1926; in 1890 it
was l67 741, an increase of AS per cent. ::
and it is estimated that there will be about
1000 miles Of track added by the close of the
year 1892.
CENSUS FIGURES.
The official returns Of the Eleventh Cen
SuS and those of the Tenth Census for Is
leading cities furnish the basis for the fol.
lowing comparisons:
In 1850 the capital invested in manufac-
turing was 81, 1872, S39, $40.
In 1890 the capital invested in manufac-
turing was 81, 900, 135 ,SS4.
1901 3So.
In 1890 the number OF employees was
2,251, 1874.
In 1880 the wages earne l were s501, G6;>-
IT'S.
In 1890 the wages earned were 81, 221, 100
Asa.
In 1850 the value of the product was 81
I'll, SO, 800.
In 1890 the value of the product was ST.
$50, 2SG S37.
7
OF New York, shows that during the year
1891, in about six thousand manufacturing
establishments il that State embraced
within the special inquiry made by him, and
representing 81 different industries there
was net increase over the year 1890 of
$3l ,3l5, 100 IS in the value of the product
and of so, 81 9?5. % in the amount of wages
paid. The report of the commissioner of
labor for the State of Massachusetts, shows
that 3745 industries in that State paid
1929. 10, PAS in wages during the year 1891,
against 1926 $50, 3O3 in 1890, an increase of
s., $50, 945 and that there was an increase
Of 50, 932, 400 in the amount of capital and of
1246 IN the number OF persons employ ed in
the same period.
SAVINGS OF THE PEOPLE.
Another indication of the general pros
perity OF toe country is found in the fact
that the number of depOsitOrs in savings
banks increased from SOB, $40 in 1860 to 4
and the amount OF deposits from S149, III
504 in 1860 to 81, 5244 S44, 500 in 1890, an in
crease OF 93l per cent. In 1891 the amount
Of deposits in savings banks was 81, 623, 079-
149. 1t is estimated that 90 per cent. Of
these deposits represent the savings of wage
earners. The bank clearances for nine
months ending September 80, 1891 amounted
to S41, C49 800, Sos. For the same months in
1892 they amounted to $45, 189, COL, 947, an ex-
cess for the nine months Of 81, 140, PHI, 139
A WORD FOR PROTECTION.
believe that the protective system, which
has now for something more than thirty
years continuously prevailed in our legisla-
ton, has been a mighty instrument for the
development Of our national wealth and
most powerful agency in protecting the
homes OF our wOrklngmen from the inva-
sion OF want. have felt most solicitOus
interest to preserve to our working people
rates of wages that would not only give
daily bread but supply comfortable mar
gin for those home attractions and family
comforts and enjOyments without which
life is neither hopeful nor sweet.
1t is not my purpose to renew here the
argument IN favor of a protective tariff.
The result Of the recent election must be ac-
cepted as having introduced a new policy.
We must assume that the present tariff
constructed upon the lines of protection, is
to be repealed. and that there is to be sub
Stltuted for 1t tariff law constructed solely
to be higher because the increase will keep
open an American mill or keep up the wages
or an American workman. but that in every
case such a rate OF duty i to be imposed as
will bring to the treasury OF the United
States the largest returns of revenue.
The contention has not been between
schedules, but between principles, and it
would be offensive to suggest that the pre-
vailing party Will not carry into legislation
the principles advocated by it AMI the
pledges given to the people. The tariff bills
passed By the House of Representatives at
the last session We're, as | suppOse-even in
the opinion OF their Observation-Disclosures
and justified only by the fact that the Senate
and House OF Representatives were not in
accord and that general revision could
not, therefore, be undertaken.
recommend that the whole subject of
tariff revision be left to the incoming Con-
gresS. 1t is matter Of regret that this work
must be delayed for at least three months;
for the threat OF great tariff changes intro
duceS 50 much uncertainty that an amount,
not easily estimated, Of business inaction
and OF diminished reduction will necessarily
result. 1t is possible also that this uncer-
talnty may result in decreased revenues
from customs duties, for our merchants will
make cautious orders for foreign goods in
view Of the prospect Of tariff reductions ana
the uncertainty as to when they will take
effect
FOREIGN RELATIONS.
Our relations with foreign nations are now
Cndlsturbed by any serious controversy
The complicated and threatening differences
with Germany and England relating to
Samoan affairs, with England in relation to
the seal fisheries in the Bering Sea, and with
Chile growing out of the Baltimore affair,
have been adjusted.
There have been negotiated and concluded