The sun., 1892-12-15
THE PRESIDENTS MESSAGE
HIS ANNUAL REVIEW OF THE
NATIONS AFFAIRS.
The President Recommends That
Tariff Revision Be Left TO the
Next Congress--A General
Review of Affairs and Pro.
gress OF the Nation.


message reads as follows:
To the Senate and House of Representa-
nves: In submitting my annual message to
able to say that the general co editions
affecting the commercial and industrial in
Ierests OF the United States are in the high
existing conditions with those of the most
favored period in the history of the country
Tlll. believe, show that SO high Q degree
The comforts of life were never before en-
loyed by our people.
The total wealth of the country in 1860
was SIG, 1853, ,616,06S. In 1890 1t amounted to
s62, 610, 900. 900, an increase of 2S7 per cent
The total mileage of railways in the United
States in 1860 was 30,626; in 1890 1t was
S estimated that there will be about 1900
miles of track added by the close of the
rear 1892. The official returns of the
eleventh census and those of the tenth cen
.us for .seyenty-fve leading cities furnished
the basis for the following comparisons:
In 1880 the capital invested in manufac-
81, 81 ,sS4 sS4eSted In manufacturing was $S''OO-
In 1880 the number of employees was
I,Sol SS3; 49, IN In 1890 the number of employees
In 1880 the wages earned were $501, $685.
I7S. In 1890 the wages earned were $1,22l,-
In 1850 the value Of the product was 81
III, $40, 800. In 1890 the value of the
product was $4,S6O 2S6, ,S37.
The census that the omission of certain in
lustries in 1880 which were included in
1890 accounts in part for the remarkable in
crease thus shown, but after making full
Allowances for differences of method and
ieducting the returns for all industries in
sluded In the cersus of 1880, there remain
IN the reports from these seventy-fve cities
IN Increase in the capital employed of ST.:
522 745. .604; in the value of the product of
y O24, 236, 1866; in wages earned Of S677 ,943,-
s29 and in the number of earners employed
show an increased aggregate, but an in
,rease per CAPITA from 1886 in 1880 to $547
n 1890, or All per cent.
THE NEW INDUSTRIAL PLANTS
established since Oct. &, 1880, and up to
Oct. =, 1882, as partially reported in the
american Economist, number $40, and the
extension of existing plants los; the new
capital invested amounts to $40, ,449, ,OoO, and
the number OF additional employees to 81
2S5. The Textile World for July, 1892,
states that during the first six months of the
T9Fe OH s of 4s which fnttngy fEGsy ns nFf e?s &
aen m Mills 10 81 SIX t6a s % epf6n g5n mills mills and
have been built in the Southern states. A.
B. Stephenson, of the New York Cotton
exchange. estimates the number of working
1892, at 1920, 900, an increase of 100000
over the year 1891. The consumption of
10 bales and in 1892 1854, 900 bales, an in
crease of 1SS,000 bales. From the year 1869
to 1892 inclusive there has been an increase
!n the consumption Of cotton in Europe OF
92 per cent, while during the same period
the increased consumption in the United
States has been about $50 per cent.
:, The report Of Ira Aver, special agent of
the treasury department shows that at the
date of Sept. 80, 1892, there were thirty
two companies manufacturing tin and
terne plate in the United States and nd four,
mar ufacture. The estimated Investment in
buildings and plants at the. close. of the
5sGai year June SO lS9S II ezistnG st nGo c0n con
and the estimated rate Of production 20O,-
100000 pounds per annum. The actual
Pgrodduction Prod @ OF 4 the oq quarter ending Sept 30:
1892, was 10, 952 725 pounds. The report of
Labor Commissioner Peck of New York
shows that during the year 1891, in about
5000 manufacturing establishments in that
state, embraced within the, special inquiry
made hv him. and representing 81 different
industries. there was net increase oyer
II the e DnSHct sGS Of 4S 81 @ % the IN value Ss
value of wages paid The report of the
commissioner Of labor of Massachusetts
shows !, t that 3745 - industries in that state
1891 against S126.03O302 in 1890. an in
crease of So, 3S5 945; and that there was
an increas," Of So 932: 400 in the amount Of
capital and of 1896 in the number of per-
sons employed in the same period.
During the last six months of the year
1891, and the. first six months of 1892 the
toms as against 9.2O9 7oa tons in the wear year
1890, which was the largest annual prodnc-
onSs Gn Of 18a1 sId ET the tweVs %
crease Of 1ss71o gross tons i over the en- pre- Re:
a6ss,s71 gross tons in 1890 The nroduc t1T St
ton of Resserner steel rails for the first six
months Of 1902 was 772. 436 gross tons. as
six months Of the year 1891. The total
value Of
OUR FOREIGN TRADE
exports and manufactured during the last
dScal year was 81, ,S57, ,6SO, ,61O, an increase OF
Sl2S, S,2o5,6 ,6O4 over the previous fiscal year.
and exports OF merchandise for the ten tis-
cal years prior to 1891 was 81, ,457, 81, ,019.
1t will be observe that our foreign trade
tor 1892 exceeded this annual average value
by $4OO, ,35S, ,591, an increase of 2I.47 per
cent. The significance and value OF this IN
crease are shown by the fact that the ex-
cess in trade Of 1892 over 1891, was wholly
in the value OF exports, for there was de-
| crease in the value OF imports of 1853
! 1o4. The value OF our exports during the
| ure III the history Of the government,
| amounting to $780, ,27S 149, exceeding by
| S145, 797, ,53S the exports of 1891 and exceed
ing the value Of the imports by 500, ,875,-
| 6S6 A comparison of the value of our eX-
ports for 1892 with the annual average for
| the ten years prior to 1891 shows an excess
| Of $3.50, 1872, GIL, or of 34.65 per cent. The
value of our imports of merchandise for
| 1892, which was $S29, 402, 1852, also exceeded
| the annual average value OF the ten years
| prior to 1881 by $135, ,215,940. During the
fiscal year 1892, the value of imports free
| of duty amounted to $457, ,999, ,65S, the largest
aggregate in the history of our commerce
entered free of duty in 1892 was 55.35 per
cent Of the total value of imports, as COM
pared with 3.35 per cent in 1891 and 1896
In our coastwise trade a most encourag-
| ing development is in progress, there haV-
| ing been in the last four years an increase
In inf nn1I Nnr1n 4 fnn
statistics show that no such period of pros
perity has ever before existed. The freight
carried in the coastWise trade Of the great
| lakes in 1890 aggregated 2S, 295 $50 tons.
On the Mississippi, Missouri and Ohio riv-
| ers and tributaries in the same year the
traffic aggregated 20,405,O46 tons, and the
| total vessel tonnage passing through the
Detroit river during that year was p, ,684,-
COO TONS The vessel tonnage entered and
ing ing: 1890 amounted to 13, 480, 767 tons, and of
tWo great Shipping ports Of SIS TONS,
pns passng nsfhhy through eS the Detroit river And
should be said that the season of the De.
| troit river was but 228 days, while, of
was for the entire year. The vessel ton.
mage passing through the st. Mary's canal
for the fiscal year 1892 amounted to 9,S28,-
a74 tons, and the freight tonnage Of the De-
| 25 0OO, 900 tons, against 23,209,615 tons in
| 1891. The aggregate traffic on our railroads
|
| tons of freight, compared with 691 .344, 437
| tons in 1900. an increase Of 13, O54, 172 tons.
Another indication Of
| THE GENERAL PROSPERITY
of the country is found in the fact that the
| number of depositors in savings banks in-
| creased from 693,S70 In 1860 to 4,25S, S93 In
| 1890, an increase of 513 per cent, and the
| amount of deposits from $149, ,277, ,504 In
1869 to 81 ,524, ,S44 5Q6 in 1890, an increase OF
| 921 per cent In 1891 the amount of depos-
its in savings banks was 1,623, ,O79, 749. 1t
| is estimated that 90 per cent of these de-
posits represent the savings of wage earn
ers. The bank clearances for nine months
| ending Sept. 80, 1891, amounted to SAL 049,-
800 $50. For the same months in 1892 they
| amounted to $40, ,1S9, ,601, ,947, an excess for
the nine months of 81, 140, ,211, 139. There has
| never been time In our history when WORK
was so abundant or when wages were as
high whether measured by the currency on
| which they are paid or by their power to
| supply the necessaries and comforts of life
| It IS true that the market prices of cotton
and wheat have been low. 1t Is one OF the
unfavorable incidents Of agriculture that the
| farmer cannot produce upon orders. DE
must SOW and reap in Ignorance OF the ag:
R1egate production of the year, and is sub
ject to the depreciation which follows over
production. But while the fact have
stated is true as to the crops mentioned
the general average of prices has been such
as to give to agriculture q fair participa
1 ha vain n