The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1898-01-21
The Economic Record.

The economic record for 1897, consists
mainly in the enactment Of a tariff bill |
which, under the pretense OF increasing
the revenue, has imposed very heavy
tax on the people which the Government
does not receive but which the people |
pay. The greatest economic event OF
the year has been the short crops OF
grain throughout the world. except In
the United States. This incident again
illustrates the saying of the French Min
ister IN the early part Of the centur y
that "the Lord takes care OF the fools.
the drunken men and the United States.
The increased price Of Western grain and
provisions have established the farmers
of tie Mississippi Valley under most ia.
vorable conditions and have given an
opportunity, which ought not to be lost,
to make these conditions permanent.
On the other hand the growers Of cot
ton have suffered from heavy decline
in price, due to the TACT that the spin.
ming and weaving power Of the manu-
iacturing nations 10 for the moment
ahead of the consuming power of other
parts OF the world.
The economic record OF the year Is
alec marked by the rapid development of
the production OF gold in ample measure
Tor the needs oi the world as monetary
standard or unit Of value. /. has also
bsen marked by tne..record not only of
the increased product Of silve:, but by
its very low coat, to the end that it
has become apparent that probably more
than one nalf the present silver product,
exceeding the entire output at as late
date as 1880, is by product of copper
and lead mines; while on the other hand
improvement in mining and the discoy-
cry OF methods OF saving the zinc .as well
az the copper, lead and gold Of the grea;
silver mines OF New South Wales, will
hringsilver down TO :he basis OF merely
useiul metal while Totally torbidding its
monetary use except for subsidiary coin
age
The exports OF this country have pass-
ed the billion dollar mark. They con.
siss OF examples oil nearly every crude
material drawn from the forest. the Geld,
the mine or the workshop, and from
them up to the highest type OF 6nished
fabrics. especially in the iron and steel.
The portentious event OF the year has
been the recognition Of the fact that the
paramount dominion in the making OF
iron and steel has passed from the oiher
aide OF the Atlantic to this country.
Whatever nation possesses the para.
mount control Of making iron and steel
at the highest rate OF wages and n, the
lowest cos. OF this product. miF eoi,rol
the commerce OF the world whenever IL
. chooses TO exercise it's power by remov-
ins the distractions which its oxu leg
. islators have placed in the way.
Another economic record has been
made during the yeAr-the record OF the
fact that % Per cent OF the farmers OF the
the great Mississippi Valley are free oi
|, any mortgage whatever o~ning theil
lands, their stock, their tools and theiI
crops. they have become the creditors ol
. the world. They bold the command o
the reserve Of gold in every bank ia
every civilized country.
|, Seldom has there been Q year wher
such an economic record could be made
Il EDwARD Atkinson
III Qn The World