New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-29
THE WORK OF THE YEAR.

The gear now drawing 10 close has been
in some respects the most remarkable In The
cOuntrys history. Ii has been year OF exccp-
tOnal disasters and reycrscs In few lines. but
of unprecedented excess and production In
many. The yield OF corn was far below OK
pectaions. though. according TO latest reports II
Is above the average FOR this or any previous
decade but potatoes and apples are unusually
scarce. There has been much trouble with
many failures In the whskcy manufacture,
owing TO oyerproGIcton. encouraged by Demo
cratic legislation; in bicycle manufacture be-
cause OF the excessive production which usually
follows tie general adoption Of n new invention.
and In the cotton Manufacture. owing 10 bad
management by some New Bedford mills, OF
which seven failed for over s.. 100000 early In
the year. the continued oycrproduction by many
others and tho heavy decline IN material.
Though great coal strike threatened wide
spread disturbance. the year las not been
marked by unusual labor difficulties and has
brought much advance in wages. 1t has seen
extreme low prices In many lines but, on the
whole, higher average toward the close than
In recent years. Notwithstanding enormous pro-
duction.
In important lines the years production has
surpassed MI records Though tho yield OF
wheat falls below the max mum, 1t was in
many States remarkably heavy, and consider
Ing the price obtained fo- 1t. the crop is likely
to prove the best ever raised except one. The
yield of cotton has been the largest ever pro-
duccd, Il is probable. and so large that the cy-
cess has been n cause Of much loss and mis-
fortune. The production Of Iron has been
probably, and its consumption certainly, the
largest ever known in this or any other coun-
81
all records. The production Of boots and shoes
at points for which definite records exist has
surpassed that OF any previous year, and ac-
counts from other centres OF the manufacture
Indicate corresponding expansion. In cectrl-
cal machinery, copper, tinplatcs and many
minor branches, the manufacture has surpassed
all records, and during the last 1--WE months in
woollen goods. SO great has been the gain In
many branches OF Industry that, notwithsiand-
ing low records during the first half Of the year
complete returns for the last half must be re-
cc'vcd before 1t can be determined whether the (
full years output has ever been exceeded or not
In foreign trade II has been n surprising year /
The exports have been the largest ever rcported |
In any year, II now seems certain notwith- |
standing the low price OF many products. The |
Imports were remarkably heavy during part Of I
the year. but for the twelve months below the |
recent average. so that the excess of mer-
chandisc exports over imports Will undoubtedly |
prove by far the largest ever known, apparently |
rising above 350Oo0OO While the year will |
show no great excess of gold on either side,
with exports Of silver abou. SO 600 600 larger
than imports, 1t apparently closes with much
the greatest outstanding Indebtedness ever
known from foreign 10 American banking
houses although extinguishment Of the foreign
Indebtedness represented by stocks and bonds
held abroad has been large during the year In
vestIncnis by foreigners In various Industrial
enterprises in this country have been heavy this
year, and others OF importance are I'm progress.
Rarely have there been twelve months with
less disturbance in money markets. and per-
laps ut no previous time has there been less
distrust OF the currency or anxiety regarding
the monetary future.
No other year since 1879 has witnessed So
great an improvement in the condition OF the
people as has beer seen In 1897, If, indeed 1879
bas not been surpassed in that respect. While
there has been general advance in wages of
labor, wherever wages had been reduced In
previous years Of depression, a far greater
change has resulted from the increase In num-
Der Of workers employed and in the proportion
OF time workers have been occupied No
definite record OF the extent of this cbanpe
can be gathered until n considerable period has
passed, nor Is n precise record to be expected
at any time, but there Is much ground for be-
heving that the increase In hands employed