Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1897-06-12
Condition of Trade.

In spite OF the delay Of the senate in
passing the tariff bill trade conditions
continue to improve, hence it 10 reason
able to suppose that had the senase been
az prompt in tho matter - the house
the country would today be fully en-
tered upon the promised season of pros
perity. But tho tide has turned, and
even the prolonged debate in the senate
cannot check its advance.
The improvement is shown by many
quist revivals here and there. One ex-
cellent indication is the railroad earn
inYs, which are about ~ good trade
barometer as we have. The gross earn
ings OF eighty roads for the first week in
May amounted to 1876, 485, an increase
Of sos, 295, or Sal per cent; while fifty
six roads for the second week Of May re-
port So, 163, 76O, an increase of $3.50, 487,
or 5.31 per cent. As to net earnings,
1856 roads show an increase of $1,615, 900
for March, at the rate Of about 8 per cent !;
while for the first three months of the
year 179 roads exhibit gain Of 81 $751;
600, or at the rate Of nearly 3 per cent.
One OF the most satisfactory features of
this improvement is that il extends
pretty evenly over the roads of all Sec
tions, showing that the recovery is due
to causes common to the country at
large.
Dun's Review recognizes the general
improvement, and in commenting upon
it says:
People are actually doing more bust
ness than they realize. They reckon by
values, but these are much lower than in
any previous year of prosperity and leave
little margin for profits. In quantity
there is almost as much business being
done as in the year of greatest prosperity,
and though tho increase in population
would call for material expansion the
comparison is not Encouraging. The re-
covery is slow, hesitating and gradual,
but more has been done On the whole in
May than in April, while returns in
April showed the volume Of business
only 10 per cent smaller than that Of the
best year heretofore. Yet hesitation is
doing its work every week, and multi
tudes are waiting because Of possibilities
atlWsshington who ought to be swelling
the demand for labor and the products
of labor. Exports OF gold cause no
alarm, as they are obviously the results
of the premium paid by Russia. and it
is we'll understood that goods imported
in May. thus far Al per cent larger than
last year, are supplying wants for
months to come, while exports OF pro-
ducts, in May thus far q per cant larger
than last year, will much increase with
in two months. The treasury is doing
we'll and the money market has gained
81, 900, 900 from the interior during the
week. The encouraging increase in the
demand for commercial loans still con-
tinue in volume IS large and in quality
OF paper offered even better than last
week.
An amusing illustration of the fallAcy
of the free trade argument that q low
tariff results in large exports Of our man
ufactures has just come to light. Ac-
cording to the government report, Of tho
$669, 5000 worth of goods exported
from the United States last year $504,-
600, 900 worth were agricultural produce.
Az the percentage of manufactures in
the above exports WIS under the state
nent must be an eye-0pener to the sv-
erage free traders. F. Call.