Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1892-12-07

try Plainly Set Forth.
Rsesamsndatiens ies The Future cuiaaaes .
Our Neu law Makers.
| WASHINGTON. I,ec. S.-rhe President sen, hi
message to Congress today,
To TIKI SENATE AND Horse OF RErHksgSrA-
/ rivgs;
| In submitting my annual message to coa-
| gress have great satisfaction in being able 10
\ say that the general conditions affecting the
| commercial and industrial interests OF the
| United States are in the highest degree favor
| able. A comparison OF the existing conditions
| with those Of the most favored period in tbs
| history OF the country will, believe, show
that 50 high q degree of prosperity aud so
| general diffusion of the comforts Of life
were never before enjoyed by our people.
General Statistics.
The total wealth OF the country in isa was
tl6, ,i59 6l6,f ,fes in iNo IL amounted to s,s5lp,-
o6 .01. an increase of IS. per cent. The total
mileage Of railways in the United States iii
lssal was e,d6. in lSs II was ii; ,.t, sn increase
of AS per cent. and IL Is estimated that thsrc
will be about HsD miles of track added by the
the eleventh census and these of the tenth
census for IS leading cities furnish the basis
for the following comparison: In lSJ the cap
ital invested in manufacturing was Ss.ss,,-
go; in ls1 the capital invested in manufacture
ing was s., s,sH, 5,ss& In lsso the number Of
employees was | .sni .sS>: in lS1 the number nj
employees was 2,sdl, lA In lSSU the WAGES
earned Acre SJ1i ,asa,.ss; in $50 the wages
earned were Sl,s.l. .i.ot5i, In lssa the value
OF the product was Ss,1iI.5,p,sp. IN is.V the
value of TN, product was 81. al, 2ss,SE
am informed by the superintendent of the
census that the omission of certain industries
in lssO. which were included in 1880, accounts
in part for the remarkable Increase thus
shown. But after making full allowance for
differences uf method, and deducting the n-
turns for all industries not included IN The
census of iss'. there remain in the report fr"m
these seventy five cities Increase In the
capital employed of Sl,522.si5slL In the
value OF the product OF S.,r,i.s.S,ldai. ia wages
earned of S6ii as9. aud in the numh'r AZ
wage -earners employed of $500 The wage
earnings not only show an incrcasek AK
gregatc. but an increase per capita from
Sss in isS) to SN1 in lSeaor ll.l per cent
The new industrial plants established since
Oct. D. 1890. and up to Oct ~, ist,.are partially
reported in The American Economist. number
a. and the extension of existing plants l6h The
new capital invested amounts To $40, ,it9iui,
and the number of additional employees 10 81
M.
The Textile World for July. ls1., statrs, that
during the first six months of the present
calendar year, la5 new factories were built, of
which 10 are cotton mills, As knitting mills. -
WOODEN mills, i5 silk mills, 1 plush mills aud :,
linen mills. OF the - cotton mills, u have
been built in the southern states. A. y, shep-
parson of the New York cotton exchange es-
Inmates the number of working spindlcs In
the United States on sept. !, lss,, at l5,as,ph,
an increase of 6GU0 over the year 1891. Tie
con sumption OF cotton by American mills in
1891 was ':s6.d0o baies.and in iSirs, 2,5s.Up. an
increase of $500 bales. From the year 1879 to
lst, inclusive. there has been au increase in
the consumption OF cotton in Europe of 81 per
cent, while during the same period the in
creased consumption in the United states has
been l50per cent. rhe report Of Ira Aver.
special agent of the treasury department.
shows that at the date OF sept IA, lsle. there
were thirty-two companies manufacturing lin
and terne plate in the United States, and
fourteen companies building new works fct
such manufacture. The estimated investment
In buildings and plantl at the close OF The
fiscal year June ~, ls1 II existing conditions
were 10 be continued. were s50p,1D. and the
estimated rate of production ag1n,tli
pounds per annum. The actual production
for the quarter ending Sept. ~, ls'r,. was i,n!,-
,2j pounds.
The report of Labor Commissioner Peck Of
New York shows thai during the year lSll in
about G60 manufacturing establishments iii
that state embraced within the special in
quiry made by him and representing q. differ
ent industries. there was a net increase over
the year 1870 of SiI 3l5, i36s In the value OF The
product. and of 81 81 ,t..509 in the amour, of
wages paid. The report Of the commissioner
of labor for the state Of Massachusetts shows
that ys45 industries In that state Iaid sl2a,-
1928 in wages during the year 1871. against
Sl2s,ID..s3 in lsO, an increase Of ssaS,at,
and that there was an increase of Sg.1s,, ,iW H.
the amount of capital and of 1si6 in the mum
Der Of persons employed in the same period.
During the last six months OF the year 1891
and the first six months Of laF, the total pro-
duction of pig iron was 9,Ii0.sl9 tons as against
9.9t2 .,W tons in the year 1870. which was the
largest annual production ever attained. For
the same twelve months of lsai-as the prodna
tion Of Bessemer ingots was 3s,s,5si tons. IN
increase of 1890 gross tons over the prcyi-
ously unprecedented yearly production OF
3.68s s1l gross tons in 1881. The production uf
Bessemer steel rails for the firsr six months nf
Is9, was i12...B gross tons against ;G..14,
gross tons during the last six months of ihr
year 1871.
Exports and Imports.
The total value of our foreign trade exports
and imports of merchandise during the last
fiscal year was 81 .s5I, ,ss0.6l0. an increase of
siss ,gsi.tpt over the previous fiscal year. The
average annual value Of our imports and cx-
ports of merchandise for the ten fiscal years
prior to 1891 was Sl.t5I..s. II will be oh
served that our foreign trade for isfs exceeded
this annuakavcrage value by Stei.i1,.asi. an
increase Of IA per cent. The significance and
value pf this increase are shown by the fict
tha. the excess in the trade Of fsr, over 1871
was wholly in the value of exports. for iherc
was a decrease In the value of imports OF
siI.5I3.15l.
The value Of our exports during the fiscal
year lst, reached the highest figure IN the his
tory of the government. amounting to y l,itD-
,s.lss. exceeding by sit57as ,'sss the exports Of
1891 and exceeding the value Of the imports BY
S5R.S1j,bs6 A comparison of the value Of our
exports for ls12 with the annual average for
the ten years prior 10 1891 shows an excsss of
s15. i42,65l. or of 3i.65 per cent. The value o.
our imports Of merchandise for 1892, which
was Ss-a tfr,, s8,. also exceeded the annual
average value Of the ten years prior to 1901 by
sI35.2l5.9i1. During the fiscal year ls's, the
value of imports free of duty amounted To
s457 ,9aa.gJi. the largest aggregate in the his
tory of our commerce.
The imports of merchandise entered free of
dnty in isn was 55.;6 per cent. Of the total
value of Imports. as compared with 50. . per
cent in lsai. and $50; per cent. in 1870. in our
coastwise trade a
Most Encouraging Developing
is in progress. there having been In the last
four years an inereass Of 10 per cent. In in-
terpational commerce the statistics show hat
no sneh period OF prosperity has ever before
existed. The freight carried In the coast gvisn
trade of the great lakes In 1870 aggregated -.
81, MA tons; on the Mississippi. Missouri and
Ohio rivers and tributaries. in the same year,
The fraffic aggregated as.sa508 tons. and the
total vessel tonnage passing through the De
troit river during the year was sl.6si,0p tons
Savings Bsnks Deposits
Another indit .tion Of the general prosperity
of the country Is found in the fact that The
number Of depositors In savings haBts in
creased from as.,ss0 in Ism to 8.25s. s8 In fgsi
an increase of 5iJ per cent The amount Of
deposits from si49.zsT.JN in iSD 10 sl.5gt,-
ss4.56 In ls6D an increase Of ri per cent: IN
1891 the amount Of deposits in savings banks
was g e.. .tfe sSss il is estimated that ~ per
cent. of the deposits represent the savings Of
wage-carners. The bank elearanccs for nine
months ending ss3s- ~. issi- amounted 10 sH.-
~, ,sus.s.ls.
For the sane nonths In lse.shey "a
10 0,l nj an excess for the mine months
of .lA. There never has been = time
In our history when work waa 20 sbunda4: Or
when wages were 50 high. whether paeasarsa
by the currency IN which they are paid or by
their power 10 supply the accessories AID COM
forts Of life. 1t IL trffc that the market prices
of cotton and wheat have been iow. !; IL one
of the nnfavorsbe incidents of agriculture
that the farmer cannot produce upon ortiers.
He must sow and reap in ignorance ef the ar
gregats production of the year and Is pcc.i-
iarIy subject 20 the depreciation which, follows
,ver-pset tuction.
Rut xfile the fact have stated is true, a.
TO the crops mentioned the general average
Of prices has been sIch As 10 give To a1rieuI-
tnre . fair participation in the general pros
r<rf tzn C..tr f.F