New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-22
WHERE THE COUNTRY STANDS.

II is Of great importance for Americans at this
time to get a correct measure of their position in
Industries and finances When II is stated that
the volume Of business transacted is greater in
amount Of money paid than ut any previous
time only part Of the story is told. More neces-
saries and comforts Of life can be bought with
the same money than AZ this season In any past
year The quantity OF pigron produced on De
cember was "a 8 per cent more than the guam
tty produced on December !, 1892 and yet
would have cost almost exactly the same II
both quantities had been sold at Pittsburg prices
Of Bessemer for those dates. SO great a change
could not be expected in all commodities But
the prices Of all have declined since November
l. 1892 so much that the same quantities Of all
products which now cost 500 would then have
cost almost 500 The same transactions in all
commodities which now require payments Of
ST. 600 900 900 in month would then have re-
quired payments Of nearly $7,20o,ooo.ooo.
Actual payments since November through
all clearing houses have been so large that the
amount for the Two full months will probably
exceed S13,O00.OOO.000 Allowance must be
made, however, for a great excess OF stock
transactions this year. which have been for two
months probably 81. 60. 600 900 in marke, value,
against $3.50. 900 900 IN the same months Of
1892 Prior to the growth of the Stock Ex
change Clearing House men used to allow for
double the value Of stocks sold here, which is
no longer reasonable: but deductng the actual
value OF stocks sold at NewYork from all clear
ing. house pa! lncnts in both years. the remainder
would be S11 500 600. 900. against Sl0674 900 900
in 1892. Adding a fifth for increased purchas
ing power This year. the volume of business
transacted would appear equivalent to $13.-
500 100000 this year AT the prices of 1892
against Sl0.G74. 100000 paid In that year But
populaton has increased. according to the
Treasury reports. from G5.933.OO0 on November
l. 1892 TO -. OJ9, 900 on November l. 1898. Then
payments this year would he equivalent TO
S1S3 81 per capita in purchasing power. reck-
oned ut the prices of 1882 against S16l "A actu-
ally paid In that year, showing an advance OF
1913 per cent.
This is probably as accurate comparison or
the volume Of business outside the New Ork
Stock Exchange as can be made. Its meaning
is that the country has probably supplied ITSELF
in quantities of products paid for. just a seventh
more for each inhabitant with the necessaries
md comforts Of life than in the closing months
Of the year OF greatest prosperity hitherto
But the purchases are In part for export lot
which payment Is not made in goods, nut ID Sc
.,.ri,ios returned loans made abroad or in gold.
As this excess of merchandise exports over I'M
paris has been ST7,613.OOO In November
and ~ n larger rate in December thus far, fully
s. per capita must bc allowed for Two months
on this account of which about Sl0,Vooo. or
II cents per capita. came in gold. How much IS
loaned abroad can only be guessed but there sui
remains an increase Of nearly an eighth In DO
nestle transactions. These were by no means