New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-18
TJGHT EOR TNOEIRERS.

Sincere and yearning desire for enlightenment
should always be encouraged, and when even
the most benighled seek information which may
tend to remove their darkness, who can refus
them! So when rhe Democratic press serious
" prays for explanation Of smaller increase
in manufactured exports during the later than
during the early months Of 1897. the clearing
house and railway returns supply an answer
which almost every schoolboy can understand.
II the railroads are doing more business and
earning more money and buying more equip
ment and material OF every knd-the Pennsyl-
vanla road 100000 tors OF rails last week. for
instance. while the Illinois Steel Company is
said to have booked and TO have carried over
from the old year greater volume Of orders
for rails than ever before in It's history-it IS
obvious that the home demand must occupy a
great part Of the capacity Of American works,
and must, indeed. overtay that capacity In some
lines. so that they have less time OF occasion 10
seek employment in satisfying distant and less
profitable foreign demand So when clearing
house payments show volume Of domestic
business ranging from % to % per cent larger
than a year ago. It Is obvious that the Amer-
can people have more money TO spend and are
spending more in satisfying all sorts Of wants,
50 that there Is less surplus Of many products
left for shipment to distant countries
When an American OF fair intelligence learns
from the newspapers and dispatches that the
agricultural implement works have been crowd
I'd to an unusual degree by the domestic de-
mand It does not tax his power Of ratiocination
very severely to reach the conclusion that there
nav be for a time fewer machines remaining
to be shipped to other countries. When he
learns that more than million hands have been
employed within the last few months who were
not employed year ago, and that far greater
number have had their wages increased, either
by change OF rates or by an increase Of 30 per
cent more or less in employment, he is able to
infer without much stralning Of mind that many
thousand men and women, boys and girls, who
have longed for bicycles. but have been unable
TO buy them. have quickly employed part OF
their increased earnings in satisfying that want
and that in consequence the shops have for
given month one or two thousand fewer cycles
to spare for export. The same reasoning ap-
plies 10 many branches OF business, for the in
crease In domestic demand was so sudden, es-
pecially while dealers throughout the country
were replenshlng stocks Unexpectedly depleted
that the capacity of works was in many cases
strained TO the utmost and hundreds have
worked night and day much Of the time since
July
More enduring cause OF shrinkage IN man
ufactured exports would come into operation Z
the domestic demand should permanently *
the power Of works now In existence 80 FL llt
prices Of their products should be me ally
advanced That has not been the effect IA yet
in the forms Of manufacture to which the Free
Traders call attention. Cotton goods are not
dearer. but cheaper. than they were year ago
and so are steel rails and WIRE and nearly all
products OF iron and Steel agricultural imple-
ments. bicycles and most forms OF machln-
cry: copper and It's products, refined petro-
leum brick lime and paper are all cheaper than
a wear ago. If manufactured products are 10
be rendered more costly by the greatly expand
ing domestic demand the time has not yet been
reached when the works realize a want Of ca
pacity to meet that demand. and. as n rule, they
have not yet advanced prices, even In many
cases where such advance will be proper and
will doubtless come when the extent and perma-
ncnce Of the home demand have been more
clearly manifested
II is the complaint OF the Free Traders that
exports Of manufactured products were a mill
lon smaller In November than In September.
though in both months larger than a year ago.
So small n change need not have been consid-
cred seriously. in view Of the fact that the do
nestle demand for manufactured products was
greater by several hundred millions in either
month than In 1895. The value Of manufact-
ured products according to the census seven
years ago was close to S1000000O0OO and in
many branches is known to have increased more
than 20 per cent since. If 1t Is about $1,000
900 month. the clearing house returns In
dlcate that in December 1t was something like
1856 900 900 greater than In the same month
last year. It Is not absolutely alarming II IN
consequence OF such a demand manufactured
exports have fallen off as much rs $1,OO0,0O0
compared with last September, and under the
circumstances the temporary loss can be faced
with some equanimity.
The Texas may be a good ship after all. but II