The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1899-05-20
GREAT FISCAL YESR.
Remarkable Showing in Spite of
War Conditions.
Unprecedented Exports of Manufnc-
featured and Agricultural Prod
vets, Decreased Imports, nnd
Other signs of Prosperity.

evidences at hand Il Is plain that this
fiscal year will be one of the most inn
portant i'm the history of the govern
ment, notwithstanding the fact that
portion OF the time was covered by con-
ditions of war existing between our
country and Spain. II is marvellous
testimonial TO the powers of the Amer
lean people in their trade and industrial
pursuits that they have been able to
carry on war with foreign foe, pay
all the expenses incident TO that war.
and not only maintain treasury over
flowing with gold, but az the same
time afford conditions in our domestic
relations under which there has been
a marvellous increase i'm home and for
eign trade. Evidence is being produced
by the daily reports of the newspapers
and the commercial agencies going To
show how handsomely Industrial con
ditions are improving, wages advancing
and trade and commerce among our
own people returning TO the high stand
ard which was set under the Mckinley
protective tariff law of 1890. Unless
all signs fail the trade and business re-
suits of the current year will far sur
pass those of the banner year 1902, and
this result i'm the face of conditions of
war.
Attention was called in the last bud
get of this correspondence 10 the testi-
mony furnished by foreign govern
ments and authorities OF note in the
worlds trade OF the tremendous strides
that have been made in the worlds
commerce during the past year. Let us
now examine some testimonials by our
own authorities. IL is only necessary
in this connection TO quote from the re-
cent figures prepared by the officials of
the treasury department 10 show how
marked has been the growth OF our for
eign trade, and also the strikingly in-
teresting points showing the decline in
the imports of manufactured commodi-
ties. compared with the exports Of like
goods. as well as the general exports OF
all classes of goods during the past few
months. But IL is due To the officials of
the state department, who are doing
some excellent work through the me-
nm of the consuls of the government
in foreign lands toward promoting
American trade, TO note some things
said by the state department officials
in recent comments upon the growth
Of our foreign trade.
Attention has been repeatedly called
TO the fact, which should not be lost TO
the constant attention of protectionists
the country over, that the development
OF our trade in foreign countries, espe-
ciaily i'm lines of manufactures, is main
ly in those lines wherein the skill and
intelligence OF American working peo-
pie i'm the utilization OF machinery
methods has gained and is gaining for
us broader markets in regions where,
il conditions were equal and without
protective rates Of duty 10 build up and
strengthen our domestic industries, our
high-priccd labor would be unable 70
compete with the lower paid labor of
foreign countries. This is, after all,
the strongest point that can be made in
support Of the protection doctrine, and
upon il rests the good works that are
being done under the influence of pro-
lection. and which tend to make that
policy stronger with the American peo-
pie every succeeding day. Upon those
lines Of manufactures into which labor
largely enters directly il is impossible
for our industries TO produce goods in
competition with the producers OF for
eign countries.
Probably no branch of industry in
this country has been more effectively
brought under the influence OF machin-
cry methods than the iron and steel i'm
dustry. Years OF protection have de-
veloped IN this country mighty mills
and factories for the production OF iron
and steel goods. The result is that
these producing plants are now able 20
undersell foreigners on many lines OF
machinery made goods. Since the be-
ginning OF last July there has been an
increase Of more than 100000 worth
in our exports of iron and steel com
pared with the corresponding months
OF the previous year.
The ease of manufacturers OF cotton
affords another striking illustration.
Probably no branch OF American indus
try has had greater number OF years
OF solid and adequate protection than
the cotton manufacturing lines. The
result is that during the period since
last July there has been AN increase OF
more than S4,O00,000 worth in our ex-
ports OF cotton manufactures. II will
be remembered that the Dingley tariff,
without increasing the average dutiable
rates of the cotton schedule greatly
above those OF the Wilson-Gorman law.
yet by equalizing those rates, and Civ
ing a systematic schedule OF protective
rates, bettered the condition OF our cot
ton manufacturing industries and
brought about these handsome results
that are now the boast OF the American
people The line Of builders hardware,
representing as il does the skill and i'm
genuity OF the American mechanic. as
well as the highest utilization OF ma
chinery methods, Is making grand
strides. increasing more than a million
dollars i'm exports during the months
OF the present fiscal year. Steel rails
oIgo cboxxc1 an incrpngp ~ 81 OQ0 OOO I'm