The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1899-10-11

the wilds Of Alaska romantic tales of
rich discoveries Of gold, and since that
news was first brought to this country
the estimated output of that once desc
late territory has been about $40, ,000,-
600 gold, almost all of which
has come to the United States and re-
mained here.
The director of the mint estimates
that today there is in the United States
almost billion of gold, in coin and
bullion, and whereasi in Mr.. Cleyeland's
administration the gold in the treasury
had been drained so low that it seemed
at one time as though the government
would be compelled to suspend gold
payments, now the treasury possesses
nearly s25O,OOO,OOO of gold and the
banks Of New York nearly sl75, 600, :
300.
In addition to the gold that came
from the mines, there came many mil
lions Of it in the year 1898 to the United
States from Europe in liquidation Of
trade balances, and with the exception
of $50, 900, 900 sent TO Europe to pay
the Spanish indemnity, almost every
dollar Of the gold brought here from
mines and the payment of debts has re-
mained here
This is an admission of the accuracy
Of the quantitative theory Of money.
held by the Democratic party and so
vigorously pressed in the campaign of
1896. If the worlds supply Of gold
had not increased so marvellously and
if eur exports had not, through re-
markable concurrence Of circumstances,
run beyond all expectation and hope,
in what condition would we now have
been?
IF, now, We turn to another report
we shall be able to discover in it per-
haps the most impressive of all the sto-
ries that tell Of our revival and increase
Of prosperity. In 1892 We exported Of
agricultural products in the fiscal year
ending June 30 $799, ,000,0 900 in round
numbers. We did not export as much
in value as that again, although in 1899
weexported S765, 900, 900 in round num-
bers. In the intervening years the ex-
port ranged from s650,000, 900 in
round numbers in 1898 down to $685.
900, 900 in 1895. But if We turn to the
figures that tell the story of the export
of the products Of our manufactures in
the same years, We discover, set forth
in the most emphatic manner the amaz
ing story Of our industrial expansion.
In 1892, fiscal year, We exported of
manufactured products sl58,000, 00e;
in 1893, approximately the same
amount; in 1894, s1S3, 900, 900; in
1895, approximately the same amount;
in 1896, 1928, ,000,0 in 1897, S277,-
900. 600; in 1898, 1890, 900, 900; and in
1899, 1888, 100000, with every indica-
ton that the export for this fiscal year
of manufactured products will be as
great as 1915, 100000. Therefore
while we have gained in export of ag-
ricultural products not atall since 1892,
we have gained more than 100 per cent.
in our export Of manufactured products,
showing how vastly our industries have
expanded, and that while we are COM
manding our own domestic markets, We
are surely reaching out in successful
competition with other nations for the
control of the markets of the world.
We agree with the Columbia State,
from which paper the above article is
taken, that ''these are explanations that
explain. There is nothing in them
which disproves, and everything which
confirms, the Democratic convention OF
1896 that the great need Of the country
was an increase in the supply Of stand
ard money. At that time it seemed i'm
possible to secure this without the free
coinage of silver; but Providence has
been kind to the American people and
saved them from the worst effec. of one of
their greatest blunders. The State adds
to Mr.. James's catalogue this further
reason for the suddenness of the CHANGE
Eigteen months ago, while the signs of
Improvement were Of the faintest, the
war with Spain began. Instead of prov
ing financially destructive as was pre-
dicted by most Of the spokssmen for
gold and business" it had precisely
the opposite effect. As smart blow
upon watch that is clogged and
stopped may set it going again, so the
jar to the country from the shock of
war set the wheels Of business in full
motion once more, and the revival was
instant and complete.