The times. [volume] (Richmond, Va.) 1890-1903, 1899-01-01

We hu" IN I'' ~ .
power. the trade year breaks al
records The volumSof both the domes-
tic and export trade OF the year SIS un-
precodented. The bank clearings are the
rgest ever known. breaking The high
record OF 1892 Railroad earnings exceed
those OF all previous years, and on the
other hand. there was q smaller number
of failures and lower Liabilities than re-
ported in any other year since ls2 So
says Bradstroets. Exports exceed i'm
ports in the proportion of two 10 one,
building up an immense balance or trade
i'm our favor. while there has been con-
tinuous flood Of sold from Europe into
the United States. making our gold sup
ply very nearly Sl0OooOJo.
owing 10 sharp competition and i'm
proved methods, prices slave been low
but there is notable an advance in prices
within the past few months. This is par
ticularly true Of pig iron and iron pro-
ducts. Iron is now regarded as tho
barometer of trade" 90 use q hack
neyod phrase. and one Of the most notable
facts of the year SIS that even in the
month of December. when me iron trade
is usually dun. the furnaces have been
working TO their fun capacity, and the
demand for iron in O. lugh as well
as the manufacture enormous.
1t has now been den d beyond
peradveniure that we CO. iron and
steel cheaper than the .a can De
made fin any other country in the world,
and while the North is reluctant 10 con-
cede the fact # is none the less a fact
that the South holds the record
An this has been accomplished under
the gold standard. although we are con-
s,anuy told by those who advocate tho
free coinage of silver that there can be
no prosperity I'm this country under the
single standard But facts are the strong
est of all arguments. and the arguments
Of the free silver people fan TO the
ground I'm the face of these stubborn
facts which We have cited.
So much for the country az large. We
present I'm our news columns figures
which show that The city of Richmond
IS sharing in this general prosperity. The
capital invested I'm the Jobbing
business here IS reported as g.
$40 an increase over 1897 Of
Sl5i5OO. The jobbing sales Of the year
amount 20 s91.7G5.U0 an increase over the
sales of 1897 OF Ng52 7sS. The boot and
shoe trade is reported ass aggressive with
a bright outlook. This trade is expanding
and has captured new territory as FAR
away as Texas. Mississippi Ohio and
kentucky and so ON. The same may Doe
said Of our dry s0ods trade and other
branches of business
our manufacturing trade shows zap
even better. there being I'm lNs 1.132 plants
against lo1 plants for 1899, am increase
Of Ct. and 1897 hands were employed
. against 1850 hands On the preceding
year. an increase for 1S9S of 761. Capital
employed in the manufacturing business
in 1897 was Sl5N1125: IN lNlS Si6.221, 800. AN
increase of SlGis25. The total sales ~
manufactured products for 1897 We're s32,-
ssis75: On $685. SsiSc5.72J. an increase for
1S9s OF s2.5n $50
The bank cloarines for tho year show
an Increase Of Sl12la6i5 over those OF
1897. indicating the larger volume OF busi-
ness. and there is q notable Increase also
IN the amount of bank resources. the
figures Tor lS9S being Si9007.97S against
Si7.l271io for 1897. This does not include
three trust companies but one OF the
most gratifying exhibits is the large de-
crease I'm the number of failures and
total liabilities. In 1897 there were o.
failures with liabilities Of s0l43o0: I'm
JSS. there were % failures. with Habii-
ties Of Si1S 600. 10 IS most remarkable
fact that In thirty counties of Virginia.
including the cities Of Richmond. Pc
iersburg and Danynle there We're no
failures whatever during the month OF
November and only one IN the month Of
December.
The story OF tho years business Is
told more fully elsewhere but we Re-
peat these general statements by way
OF imprcssing the fact which We would
here bring out, that Richmond Is pro-
crossing During the past several years.
the croakers have tried to make II appear