The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-01

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Interpretations In excess I6f tiio y ernei A
period of he8previo,is year. made In !
antlcipa ton Of the new tariff and IN.
tended for consumo otion the present u.s.
cal year, which revenue was nj he ces- ]
sarily placed to the credit soff the last
fiscal year, but In equity betontssito this
iiscal year. And this does not take In
to account the absolute loss OF revenue
arislng from anticipatory5 5imppftations
which the treasury has Sairea experi-
enced and will continue for several
months to experience In q less degree"
COMMERCIAL AND INAaCIllL
Ths Year Close, wiih {reryssat tisfaesory
l.rsui,s.-'rhe Gratifying Impfs svsnie,,ts
That Have Been Made PreisSS Greater;
pro,perlty tor t1s9s.
Z NEW YORK, Dec, 81. -sgThe year
closes" says Henry Clews III hiA weekly
circular, "in some respects ort ofs sthe
red letter periods Of our scomnerclal
and financial interests It followed three
successive years Of almost unpres resedent-
ed depression and Disturbance sSf con f.
dencc cconscquentup upon the impefiled dsspo-
sition OF our monetary basis! When he
Republican party came into power. With,
the Presidents declarations In Savos Of
sound money and the passage of tariff
calculated 70 remedy the effects o. The
Wilson act, a wave OF revived cohfi-
dence. swept over the whole dcpuntry;
and, from midsummer o2the emil Of the
year. there has been one cont tinifopsSte-,.
yival Of business. Providence. TOO, tf1as
been propitious to our welfarel 1T ia
time when the failure OF the cereai crops
was general throughout Euro lolir
harvest was abundant, and M hike
beens able 70 export at high sprti ses stjn-S;
precedeHted qnap tit les OF wheat And
corn.F AtE the sbeg inning OF tsie ieEffai i,
iimporfaal 6lfcss Sqfconsumptf i'm were
blocked by large acc elmulat ions of lunsf
.marketed prod iets, I'd OF &hicl, f15 y
since BEEN dtsaesed Rof at sosfeSysro
cry in prices. Thereby pre- sjaffngl he way
for a profitable Increase Of spfodrc tiofi
| during the coming year. rs X.
Simultaneously with thisrecoS oSefS in
the home markets we have been favored
with an extraordinary increase insbur;
export trade;; the shipments d nor
chandlSe for the first eleven li1ontha OF
4 the year having amounted to- s$SI4 900, =
600. against $SSS, 500 900 in 1896, 2,aI00,-
900 in 1895, s140, 100000 IN 1Sg4, sanl SSFSoo.-
SOC. 900, in 1898" This large increase IN
the export trade has been taxor9 bic to
the foreign gold movement. .Sour' net SfH
ports OF the metal during the steiasen
months having been but Sc, ZOO, ,00o& These
! figures, however. imperfectlysrept
| the actual course OF the foreignstrade
balance for we have bough tfroni otlier;
countries certainly not less than 300, y
OG0 (marlset value) OF our securit ts,sand
have at times been lenders to- Europe to
the. extent OF $30,0Oo,O00 to S4o,0oop00ss 0ss.as
O means of preventing importattpn OF
gold when We, had no use forit and when
London, Berlin and Paris could III afford
TO spare IL. How such operationsbe-
came necdful will appear from thssfact
/ that, for eleven months, our SeSpprtBSof
merchandise and silver bulllonSexceed-
ed our imports by s325, 900, ,O0O.S 5sss
tt is not to be inferred that the large.
Increase in our. exports is smainls The
effect OF the unusual shipments tof
breadstufrs. There has alsobeen an5ex-
traordinary addition to oursseXport
manufacturers. Under the pressure $of3
recent hard times our industries Rave
4 have been enabled to SO farSreduceSthe;
1 costs of 4 roduction-without iiaE T. the
same time putting down Wages that
our ability to compete with other eotin- :
| tries'has opened to us muchS Sinrr sased
area OF foreign markets. Indeed the
signs of the times have afforded lear.
indications that Mt last wcss hapEs lat :
tanned an economy In productions which
will open new markets to US correspdrd-
Ing to the, rapid Increase in our indus
trial plants, and the rising ,ntioSnf 1.-The
population which must be dependent on
manufactures. o. 4
The transportation OF our large Crops
and tho increased movement 3 Iii; Er,,er-l
chandlse during the last half Eos the
year have naturally brought large Sben-
cfits TO the railroad Interest. Dnrin tho
first elcven months OF the year124 toads
show an Increase in gross earnings
from si53,0oo,0o0 In 1886 to s4SI, 1000
the past year most OF the gain having
occurred within the second halfSof8 8tife
latter period. The net earnings Sex hibit
n still better ratio OF oflmprovenienf,5lF For
the ten months ending OctobeE3 The sfist
| earnings of lis roads were SlST,0oS D6i,Si
compared with $l6S, 700, 600 IN 1906 galhows,
Ing ali increase of ll.12 per cent. 4,
4. The year closes with n most gratiiEiulS
inprovemcntin in every department. 4oit III
dustry, trade and finance. as complsrea
with the conditions existing ut$its 'oesen-
| Ing The recovery does not consistJso
much In rcnliaed profits ns rintthei kelsi
tered cond!tions of confidence a,stl c,ledttl
and IN the reduction OF surplus ssfd,cl
OF goods and the henlthicr, rclationE Ebe4i
tween snpply and demand in the rl,ar-i
keis nt large, The year, hoUeverS|ha
not been without its additions I'd; iahsi
accumulated wealth OF hcnatlou.; HIS
Is very evident from the large Eniue$iiit
OF Idle capital now seeking emploSTNsatl
and the prevailing low rntc Of intsrkst!
agwcll MS from the fact that maiiSf,alt.s
ions or our t.cating capital urc nov, NH. !.
mig temporary employment III lsufSpBssss.
Nnstotc OF things almost ncwiin thStM{s.3
tory OF our foreign ilnaEelal relatiSnE!SSis
! Apart froni't these new ptospe6is. .tl.hRi
outlook for 1898 Is fu,l OF ,prnutigcst 81 Y
imny be safely expected to turnlCSa ft6l
| be II rca lizntlon otAncSpansioa ofSb,tsji.
| nesN for which the recovery 2of 1897 Sihs
! but served to nrEparG4 thGSW;ty'sSs xftlalctiss
/ mcnt just issued by Tho MerchaNtstI "A a3S
ISOLATION OF Now York. which itei,,ilesl
mnNJ, OF the foremost merchants Jofs III
lefty, states that }HlS9S promisesft6 iFBS