The times., 1898-10-02
"A WORLD POWER.
Ty,e United States in 1898.

The year 1898 will ever be memorable in
the history of the United States as one
of unprecedented progress, expansion and
prestige. both political and commercial.
In few short months a quiet and peace
loving American Republic has unexpect-
edly and suddenly been transformed into
great world power, and is already rec
ognized as such by the foremost nations
of the Old World.
The record of the year reads like a
chapter Of romance. but it is built on
solid facts and figures So rapid has been
the developments that it is almost i'm
possible TO glance over the news columns
of daily paper without finding some
new surprise. One day 1t was Dewey S
marvellous victory at Manila which, at
one bound, placed the United States in
the front rank of the worlds great sea
powers. Another day it was parallel
sea victory by Schley at Santiago. which
gave the nation new and additional pres
tige. Again 1t was a land victory In
front of Santiago, in which the regular
and volunteer troops displayed skill and
daring that amazed the veteran soldiers
of Europe and drew from them tributes
of admiration and respect.
On another day the people at home and
the nations abroad were surprised by the
published statements showing the enor-
nous exports of grain and other pro-
| ducts. Next they were surprised at the
record of our imports of gold In brief
from day to day. the record has been
a marvellous one-ever changing and ex-
tremely gratifying. A few illustrations
will be interesting as well as instructive
Specimen Facts.
We will, therefore, give a few speci-
men facts in chronological order relating
TO material development and progress.
| In January the newspapers contained
| full accounts of the new flow of gold to-
ward our shores. The following head
| lines of one article state the facts clearly
| and concisely:
| "Europe's gold is coming West. The
balance of trade is 100000 900 in Uncle
| Sans favor. Sterling rate drops. Heavy
| investments of foreign houses in Yankee
| stocks turn the tide
In March, in view of Spains threaten
ing preparations for war, Congress
amazed the nations of Europe by at once
laying aside all partisan questions, and
promptly placing s5OOOO,O0O at the dis
| posal of the President TO uphold the ma
tons honor.
April 5.-A Washington press dispatch
states: THE circulation statement OF
the Treasury Department issued April
4. shows that we have an enormous stock
of gold in the country-almost $50, coo, 900.
or this amurnt the United States Treas
ury hpfds $40 100000 net gold"
June S13.-T-The farmers of the United
States are drawing upon other parts of
the world for more money, in the fiscal
year which ends this month, than in any
preceding year in the history of the coun-
try" - = I'm breadstuffs alone
the exports of the year will amount to
nearly 81, ,0oo.sOO for each business day
July 14--The Assistant Secretary of
the Treasury gave to the press an elab-
crate statement relating to the popular
loan, beginning as follows:
The most successful popular bond issue ever
made in this or any country has closed and it has
closed with measure of success far beyond the
hopes of the most enthusiastic believers in popu-
lar bond issue in the securities Of the United
States Government.
Secretary Gage offered to the people of the Uni
ted States $500, eco. 600 of bonds The total sub
scription received up to 8 O'Clock will approx.
mate 81, 800 0,0O0 six and one-half times the
loan offered The number Of subscribers will reach
nearly, il not quite, 10000. For every yolun
teer soldier we have in the field two citizens have
come forward with offers OF financial aid, and thC
army of subscribers to this loan would be twc,
the size of the volunteer army in the field.
July 1S-The- Bureau of Statistics an
nounced the gratifying news that the eX-
ports of merchandise from the United
States. for the fiscal year just ended
were S, 1,231. .329, $50 in value, being the
greatest in the history of the country
: and leaving balance of trade i'll our ia
vor of s615. .324. 791.
July 26.-4 published statement in re
: gard to the relative credit of nations be
gan as follows:
glance at some of the figures concerning tn
: great war and peace loans Of other nations put
the superior credit Of the United States in
: clear light. Excepting Great Britain, the Ameri
can Government has now no rival in the esteer
Of investors. British and American national eredi
: are on par. and either nation borrow al
+ the money it wants at 8 per cent or less.
: August 1.-The press dispatches fror
Europe announced that Russia would ge
r a great part of her material for warship
, from the United States.
August S--A press dispatch from Chiea
go stated: According to reports receive
by railway companies and business mer
the largest wheat crop in the history Q
the United States will be harvested with
: a fortnight The winter wheat yielt
= which aggregates between $50, COO 900 an
> 400 100000 bushels, will be increased to tn
= extent Of $50 000,0O0 bushels from the sprin
wheat region
= August 1.-THE era of prosperity i
Il Kansas was made apparent by the 70
lowing press dispatch:
Bank Commissioner Breidenthal has receive
word from bankers in six counties in Kansas, sa,
" ing that they had more money on deposit ths
: they could use, and asking what he would adv
e them to do.
e One banker wrote that he had 500 900 in IL
vault and only $4,000 loaned out. Mr. BREEDER
thai replied that under the present crop cond
tions depositors could not invest their money be
9 ter than by buying up farm mortgage notes he
by Eastern investors, if the latter would let the
go. 4
August 12.-An elaborate review of IL
> Treasury statistics relating to the bool
in the iron and steel trade contained tn
,e following interesting facts:
~ These tables show That the exports of manufa
lures of iron and steel in the fiscal year 1s9s we
five times great as in $780, than doub