The San Francisco call., 1898-01-03
THE CLOSE OF THE BUSINESS YEAR,

I HE YEAR just closed IS an admirable 1lustra-
 ton of the benefits resulting from a wisely
 framed protective tariff. The first half was dull and proftless and there was growing cry that the Republican party had failed to keep its promises of good times; but during the latter half business was larger than ever before in the nations history The exports greatly exceeded the imports, showing that the country sold more than it bought Mills started up on all sides, the wages of operators increased in many localities railroad earnings showed pronounced increase over the preceding year, and the leading industries such woolen goods, iron and steel, boots and shoes, etc, enjoyed demand equaled in previous years. As for the wheat trade it was phenomenal, the exports being enor- and the price very profitable. The shipments of merchandise foreign ports during the first eleven months of the year exceeded those for the same period in 18o6 by $86oooooo and for 1895 by S242, 100000. This showing ought to satisfy any reasona ble man of the benefits of wise tariff
 But apparently the zenith has yet been reached Shrewd observers predict still larger trade in 1898 All indications point in that direction. Dealers in many lines say that stocks in jobbing and retail hands are small and buyers are even now nbbling at the markets in way that presages activity after the new year gets well going. There has been pro- nounced decline in prices and most commodities more than holding their own in this respect Wheat keeps up which means good deal not only to the farmer but to the whole country; and, in fact, al most the entire line of farm products selling at ren1unerative figures
 While it is thus seen that trade throughout the country IS on a satisfactory basis glance at the of business this coast will show that it is not behind the rest of the nation. The wheat crop was large in this State but in Oregon and Washing ton it was phenomenal; and in all three States the prices were so good that the wheat growers found { IL paid up old liabilities, but carried over a surplus, something they have not done for some years back. Hay which is so closely allied to wheat that 1t fol- lows that cereal up and down. has been selling better than for a number of seasons and bids fair to sell well this year. The demand for farming and min ing implements has been exceptionally good, and from present indications will continue The lum- Der trade, too, which was in the dumps long time, has recently become active at advance in prices which, while not sharp enough to nconven- ence the consumer, meant good deal to the pro- ducer, and owner of timber land Ship-buding, particularly the construction of small craft has ceived a remarkable stimulus, in which the demand for tonnage for the Alaskan trade has been ncon- siderable factor The tremendous business in wool last spring and is still fresh in the minds of ali that 1t needs no comment beyond that, that when buyers so eager for wool that they buy it
 
 millions of pounds were purchased in this manner. The cattle raiser, too, in for his of the profit in the rise in beef and the advance in hides and leather During the latter part of the summer the provision trade active that the packers were put their trumps to fill their orders and the wholesalers reported that they had seen such a business before not even in the palmy old days which the forty-niners talk about.
 And SO 1t has gone all down the list Everybody has done well. The farmer has emerged from his long eclipse and has money to spend once more. The merchant again feels the satisfaction of the tradesman when goods go out of his store about as fast as they come in The capitalist has no fear that with the exercise Of ordinary caution in putting his funds his interest will not be forthcoming in due season The wage-worker has less difficulty in find ing employment and when he gets it it is more per manent. When times are brisk men are needed and here Is where the workingnan is benefited by a healthy of trade, say nothing of the better wages he is likely to receive.
 One of the best signs of prosperity at the moment is the fine condition of the savings banks of the State There are ftysix of these banks and their resources on November 30 were in round numbers $148 100 900 against $I424oo,ooo on the same date In I8o6 This shows gain for last year of $5,7oo,ooo
 Taken all in all 1897 not bad year, but 1SoS bids fair to make better record.
 
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