The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1898-01-19
WASHINGTON LETTER.

He reports from III OFeI iHe tuuH
try Indicate in the commercial and
mercantile lines confidence in all
branches of industry and trade.
That prices can move upward, not
withstanding tho claims last year of
the silver mon that permanently in
creased prices could not come under
the present standard of money, has
been thoroughly demonstrated. Slight
reactions, of course. occur. and are
looked for the trend of the market
il steadily for Improvement The act
iyity in the stock market at the open
ing of tho year was most marked and
strengthens the opinion that money
now idle will soon find it's way into
the channels of trade and enterprise.
The failures for 1897. in spite of the
general depression and stagnation
with which the year opened, show
the smallest aggregate of liabili.
ties of any year since 1892 Tho fig
ures by different branches of business
show TINT in fifteen out of twenty eight
rlassns the failures were lower than in
any previous year of which there is
record
Pledged to II definite economic
policy and the continuance of the pre-
sent one hundred cent standard with
the incoming of the Mckinley admins
tration there was Mt once n very mark
ed decline in banking and manulaet.
uring failures. The number has been
growing smaller and smaller ma com
pared with the corresponding periods
of Inst year, and the first week of the
new year finds all branches of bust
ness and industry standing upon 1t
basis of permauence which stimulates
all other aud Independent industries
to activity Bank clearing Inst week,
largely swollen by the annual settle
meni, reached 81, il0, 900, 900, one of
the heaviest figures III the history of
the country, being an increase of eight
cen per cent over the weel, previous
and of twenty four per cent over the
corresponding week of lSS, With
weekly increase in the bank clenrings
all over the country and constantly in
ereasine factory pay rolls, the trade
outlook ui the beginning of year
was never more promising Especial
activity IL seen in the iron trade and
in the flint gla~' factories. the latter
finding difficulty in keeping mp with
orders.
No trouble has been experienced IN
the payment of the enormous sum of
SS4. 900. o00, o0 by the Union Pacific
syndicate 10 the government. This
was done without it's effect being in
the least teh by the money market.
Notwithstanding it is II transaction
which eelipses anything of the kind
ever before known in this country All
trouble and stlngency was avoided
through the skill OF Secretary Gage,
whose practical knowledge OF banks
and banking guided his action.
Farm prices keep M and our export
trade Is enormous The United States
furnished in 1877 more than one half
Of the wheat required by European
importing countries Our exports of
American wheat and flour aggregated
lSs. o00. o@ bushels ont Of the worlds
shipments OF Ssn, 0O0 900 bushels OF
that product
The Increased demand abroad for
com has been one vi the most salts
factory commercial features # lS91.
nnrinS the month Of December nesrly
twice as much corn went to Europe as
in the corresponding month Of lSg6.
The people NJ Europe are slowly learn
ing that corn is good for man
As we'll a. beast The total exports
81 eorn last year amounted e S6.No.-
00 bushels, az nearly ~. 600 oO0 bush
els more than in amy previous year.
In the six wears preceding lS9, the
average annual eNportations Of corn
WAS only 66, 0N0. o,l0 bushels Tits clear,
therefore. that the various efforts
which have been made 10 hiring this
king 81 American cereals into favor
with Foreigners are beginning 10 bear
fruit There no country in the world
that can IN apywiSe complete With the
United States IN growing corn, and If
We can establiSha large ami increasing
market shrosd for the product. 1t will
hrlns our farmers untold wealth.
What is most needed to insure a gen
ersl demand Ter corn shreadiS aknow-
ledge Of preparing it for the table OF
the large amount OF corumcal sent 70
Ireland during the famine many years
aye. mitch Mas wasted, as the poor
people could add nothing to il but
water. and insisted it WAS COW feed.