The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1898-03-26
BEATING THE RECORD.
The Tide OF Business This Year IL
Much Higher Than IL Was
I'm 1902.


In business sense the country hax
advanced to a position hitherto un-
touched. Along until month or two
ago the year 1892 represented the top of
the industrial wave. Immediately after
ward the tide sharply fell, and for two
or three years il was at the ebb stage
In 1895 the tide again began to rise. but
IL was checked and sent downward by
the Bryanite menace in 1896. The down.
ward lurch was stopped by the honest
money victory in the latter part OF that
year. A slow but perceptible rise in the
business tide began year ago, when
that party resumed power. The move
ment gained momentum little over
half a year ago, when the party's in
dustrial legislation went into opera
ton. Since the beginning OF the pres
ent year IL has reached "A higher mark
than was ever before touched
This is the story which present condi-
lions tell. In bank clearances In the
country at large February figures beat
those of that month in 1892 to the ex-
tent of six per cent. IL did this, too, In
the face of the fact that that month Of
1892 had the largest clearings ever
scored In any February in the country's
history, and In the face OF the further
fact that February in 1892 had one moro
business day than il had in 1893. Rail-
road earnings at the present time are
beating all former figures, and the ten
dency, as in bank clearings, continues
upward. Merchandise exports exceed
imports TO n greater extent than ever
before AT this time OF the year. Iron pro-
duction for two months past has beer
at the largest figures ever reached. The
immense totals OF the railroad earnings
mean more than appears on the surface,
for prices OF transportation are lower
than they were before the panic of 1899
occurred. The same fact as regards
many staple articles renders the in
crease in bank transactions, as indicat-
ed by clearnnces, especially significant.
Seldom nj this season does gold inn
portation take place. A few hundred
thousand dollars came in in this month
in 1896 and 1907. but for several previ-
Gus years the tide was in the other di-
rection. Over S6,000.000 OF gold, how
ever, has recently started for this coun-
try, and some OF IL has arrived. There
is no special need for this inflow, for
the banks are, on the whole, better sup
piled with this metal than they ever
were in the past, and the treasury's
fund, which has just crossed the $685.
100000 mark. is at higher line than
was reached before since the middle OF
1890. To keep up the favorable exhibit
which is made in all directions the rev.
cnue Is expanding at rate not dreamed
OF by even the most hopeful OF the Ding
ley acts trainers at the outset. Febru-
airy, 1898, showed handsome surplus.
which Is the first time In several years
that receipts in that month exceeded ex-
penditures. As the tendency OF the rev.
enue has been steadily upward ever
since the Dingley law went into effect,
the chances are that il will reach
much higher line than has yet been
touched. SURPRISES instead of deficits
will probably be the rule hereafter, ex-
cept as war preparations may swell the
expenditures. AS 1892 has been sur
passed In bank clearings and railroad
earnings, 1879, the year In which the
relative business activity and prosper
ity of the past reached its high-water
mark, will probably soon be left behind.
st. Louis Globe Democrat.