Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-12-27

marked improvement in industrial con-
ditions has not been SO generally
known. The year 1892, under the Har-
rison administration, was the year of
greatest prosperity in the history of
| our country and still the year lS9l--un-
favorable as have been the local con-
ditions in some sections of the country
and especially in New England-eX-
ceeds some of the records of 1892.
Payments through the banks this
year are 25 per cent. larger than they
were in 1892. The production in 1897
of iron and woolens, of boots and
shoes, is greater than ever before. Ex-
ports are much beyond all previous
records. Failures have been the small
est for the last two weeks of cores
ponding weeks i'm the past five years.
The output of pig iron for the last
month. November is the greatest ever
known in this country. The unsold
stocks decreased last month to point
that indicated an extraordinarily large
consumption. Unusual contracts for
structural iron were placed. This
shows a revival in building. The ILL
nois steel company made some of the
largest orders ever booked. The prices
of iron remain low.
1t has been year of activity in cop
per mining. The production of cop
per has been large. Mines that for
merly were unable to make current
expenses have realized profits this
year. The copper stocks have been
strong Exports Of copper have been
large. They continue to be so; there
is no reaction. Tin plates, as the mar
ket shows, are slightly stronger. Most
of the tin used here is now made in
this country. Free trade howlers used
to scott at such an idea.
Readers of the journal WILL perhaps,
recall the ridicule with which, only
few years ago, our Democratic contem-
cessfuly. to treat our contention that
it would contribute largely to our ma
tional prosperity if the tin plate then
imported from abroad-largely from
Wales-could be manufactured in this
country and the some s40000.000 an
nually represented by this trade be
kept at home and expended among our
own people. That seemed to us to be a
perfectly plain and sensible desire. but
our Democratic brethren affected to
treat the whole subject as a huge joke.
We remember the perfect chorus of
amused ordinations that came from
them over little editorial we had upon
the first sample of American tin plate
after a number of American tin plate
factories were well established and I'M
der way, as result of the Republican
policy of protection, the Democratic
press affected to regard them as myths
or at best. establishments created by
the Republican campaign managers.
Laughable, was it not? Still all his is
comparatively recent history 1t may
be a trite rough to remind our Demo-
cratic friends Of these things, in this
day When American tin plate of superb
or quality is practically supplying the
American market at prices consider
ably lower than We're ever paid-prior
to the establishment of American fac
tories, for the imported article, but
there are times when Renaissance is
good for the soul.
1t is needless to say that Democratic
papers are doing no laughing at the ex-
pense of American tin plate. That in
dustry has got we'll beyond the era of
political sneers and fractional opposi-
ton.
Cotton manufacture is, still below
the normal condition. although the pro-
ducton has been larger than ever. The
production in 1896 was in excess of the
demand. Southern mills have begun to
cut into the trade of the North. =.
How serious this may prove remains
to he seem
Goods are weak and the range of
prices is the lowest ever known. Raw
cotton has reached an unprecedentedly
low r,oipt Tho cionc of iYof,royarpapt
rest in this: That domestic and export
sales have been large and are behind