Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-01-01
The Outlook for 1898.

It seems but reasonable to assume
that the first impression on the resi-
dent of Maine respecting the new year
will be a very hopeful one. BY that
is not meant that we are to pass from
deep gloom of depression to DAZZLING
light of prosperity. Maine is not sus-
ceptible to such radical changes as
such terms imply, her prosperity is
founded on more stable conditions than
are found in many parts of the coun
try. Besides we are not and have not
been in deep gloom. The hard times
did not reach us so quickly nor strike
SO severely as some states, nor should
the reaction be expected to. In add
ton to that self evident fact the past
year has been an unkinI one to our
huSbandmen. BY contrast the next
year VIII in all probability be Il happy
one Along with this confidence is the
assurance that we shall share in the
general prosperity of the country, in
GLIDING some of that which has A.
some of those investments into which
money dug from the hllsides of this
State was recklcssly poured areyielding
returns that at one time seemed be-
yond hope The demand for Western
wheat at good prices is paying off dehts-
owed to Maine people. Moreover this
jr1t IN II is tn ron q
ais for the most part. There are ample
opportunities for its employment to
advantage. In railroad building an
other year there are several projects
which will require capital on which
good returns should be yielded. There
Will be many summer homes erected
here now that the incomes of our sum
mer visitors are resuming their nor
NAL volume. The past year has Wit
messed growth in our villages and cities
and 1898 comes in with even better III
dications. Yes, We may with conf
iencc wish ourselves a Happy NeW
Year.
That the year 1898 is full of promise
for the country cannot be doubted. t
would seem. by anyone WHO had care
fully observed the trend of affairs.
The past year has been period which
may be likened perhaps, to that exist
ing at the turn of the tide and when it
has not begun to set strongly in either
direction. Within the last few months,
however the impetus has been quite
appreciate, nothing is likely to turn
it back, indeed we doubt if anything
can occur that so far as the country Us
a whole is concerned can do so.
During the hard times American
brains have not been Idle. Under
stress we have seen many improve
ments in industries such that inn
portant products are being produced
here at a cost that does not shut them
out of the foreign markets and at the
same time we have not been compelled
in order to export these articles to re
duce wages.
From recently published statistics
we learn that the shipments of mer-
chandise for the first eleven months
Of the yc~" having amounted to $a,4
SOC. 900 against $SSS 100000 in 1896.
1872. 800. 900 in 1895. $40. 200. 900 in 1921
and $1S2 SOC. 600 in 1873 This large i'll
crease in the export trade has been
favorable To the foreign gold move
ment our net exports Of the metal dur
ing the eleven months having been but
5000, 900. These figures, however, i'm
perfectly represent the actual course IF
the foreign trade balance; FOR we have
bought from other countries certainly
not less than $40, 600, 900 tmarket valued
of our securities and have at times
been lenders to Europe to the extent
of 49,, 600 900 to $40, 000. as a mea MS
OF preventing importations of gold
when we had no use for il and when
London. Berlin and Paris could i'll af
ford to spare it. How such operations
became needful will appear from III
fact that. for the eleven months: our
bullion exceeded our imports by $32l.
900 600 Nor is this all due to the uE-
precedented shipment of breadStutis.
Much of the increase arises from the
shipment of our manufactures. Thu
great strike of the British mechanic
has afforded an opportunity which We
have not been SLOW to take adVa ntaga
of. Today the control of the iron III
\slstry has passed from England h
spuntry and under proper protec-
change will undoubtedly TAX
departmcntsc Of the world :
And we have tariff
t will greatly assist "
h conditions 1t is
effects Of tbs