The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1892-12-09
THE PRESIDENTS MESSAGE


Congress met Monday and on Tuesday
the Presidents valedictory was given to
that body. 1t is an exceedingly interest
ing public document and is, in many re-
spects, the best of his administration.
Moreover, there is fund of information
in 1T that is of vital interest to the Ameri-
can people at this time. The reader can
not tail to be especially struck by the
spirit shown. Not only is Mr.. Harrison
by official position the head of defeated
patty, but is himself the defeated candi-
date. Under these circumstances it
would surely not be strange if something
of the disheartening influences of the
election appeared in the communication.
But nothing of the sort is found. Upon
the contrary the President takes it all
from the Statesman's point of view, and
counsels what he thinks best for the
country under the circumstances.
The President begins with the favOra-
BILE conditions of the commercial and in
dustrial interests of the country and
says: | have great satisfaction in be-
ing able to say that the general condi-
tlons affecting the commercial and in
dustrial interests of the United States
are in the highest 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 degree of prosperity
and so genera a diffusion of the com
forts of life were never before enioyed
by our people. The total wealth of the
country in 1860 was SIG. l59, ,GI6.OO In
1890 it amounted to S62, ,6l0, 600. 900, an
increase of 287 per cent. In 1880 the
capital invested in manufacturing was
81, 232, $780, $40. In 1890 the capital in
vested in manufacturing was $1,000, 1885,
SS4. In 1880 the number of employees
was 2,25l, 1874. In 1880 the wages earned
were $50l 1865, IT'S. In 1890 the wages
earned were 81, ,22l, ,170,454. In 1890 the
value of the product was S2,7l1 $40, $50.
In 1890 the value of the product was 81
500, 2S6,S37
The President then gives statistics
showing big increase in new industrial
plants started since October 9th, 1890.
Several cotton, wooden, plush, silk and
linen mills have been opened. Forty
Gotten mills have been started in south
ern States alone. The consumption of
cotton mills has increased.
The report of Ira Aver, special agent
OF the treasury department, shows that at
the date of September Both. 1892. there
"NAS W ihpllllCs Uln
and terne plate in the United States and
IA companies building new works for
such manufacture. The estimated in
Vestnent in buildings and plants at the
end of the fiscal year June 3Oth, 1893. if |
existing conditions were to be continued |
was S., 900, 900 and the estimated rate of |
production 200,O0O,OOO pounds per an
lum. The total production for the quar- |
Ter ending September Both, 1892, was TO-
)52, 1852 pounds.
The President then gives the figures
IF Labor Commissioner Peck of New
7 ork and the Massachusetts, Commits
iioner showing the increase in capital
md wages. There has been much in
,rease in the production of iron and
steel: in foreign trade, that is exports
md imports of merchandise and pro-
lucts, and there is large balance of
rade in our favor. In cOastwise trade
here has been large increase, also in
home trade in the different States and
II business on the great lakes. Trade
With London and Liverpool especially
ihow prosperous condition that favors
his co ountTy.
Another Indication of the general
of the country is found in the
act that the number of depositors in
avings banks increased from $40 in
$50 to 4,258, ,893 in 1890, an increase of
13 per cent. and the amount of deposits
rom $149, ,277, ,504 in 1850 to $1,524, ,S44,-
06 in 1890, an increase 921 per cent.
n 1891 the amount of deposits in saw
ngs banks was 81, ,623, ,O79, ,749. 1t is es-
imated that 80 per cent. of these depos-
is represents the savings of wage-earn-
RS. There never has been time in our
history when work was so abundant or
When wages were so high, whether
measured by the currency in which they
re paid or by their power to supply the
lecessaries and comforts of life
Market prices of cotton and wheat
ave been low. 1t is one of the unfavor-
bile incidents of agriculture that the
armer can not produce upon orders.
lie must SOW and reap in ignorance of
he aggregate production of the year,
nd is peculiarly subject to the deprecia-
ion which follows over-production.