The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-11

Mr. Mccormick made "a very neat speech
in introducing the President, who spoke as
follows:
.'Mr. President and Gentlemen-I am hon.
ored to be the guest of this great cluo. rep
resentng as you do the energy and activity
and enterprises Of this great inland city. l
can testify to the energy Of your people IL
/ ever had any doubt about the wisdom OF
eight hours being full days work, that
doubt has been removed. [Laughter.1 | un-
derstand there is already now new conflict
between the federal committee and the les
tval committee over the fact that thirty
minutes of my time in the last four days
remained unassigned ILaughter.l
Il congratulate you, gentlemen upon the
growth and advancement OF your city and
the evidences of prosperity everywhere OBJ
servable. Nothing impressed me more IN
looking into the faces Of the great multi
tudes on the streets yesterday than the smil-
ing, happy faces of the people. That was
evidence to me of your real and substantial
prosperity. 1t meant steady employment:
ways indispensable TO good government and
to the happiness Of the people.
I'VE have had wonderful industrial de-
velopment in the last two years. Our work
shops never were so busy: our trade at home
never large, and our foreign trade
exceeds that of any like period in all our
history. In the year 1899 We bought abroad
upwards of $685.. 900 600 worth of goods, and
in the same year sold abroad 81 ,227 900, 900.
giving balance of trade in our favor OF
over $3.50 COO 00O. This means more labor at
home. more money at home, more earnings
at home. Our products are carried on every
sea and find market in all the ports of the
world. In 1883 the Japanese government took
from us S.S6 per cent. of its total imports
and in 1898 14.57 per cent. We are the great
est producers Of pig iron and raise three
fourths of the cotton of the world. Our
manufactures of iron and steel exceed those
of any other country.
The growth of the railway systems OF the
United States is phenomenal. From thirty
miles in 1850 we have gone to $4,000 miles
in 1897.
RECIPROCITY AGREEMENTS.
The ssytem of reciprocity agreements
with foreign countries provided by the tariff
act of 1897 promises beneficial results in the
increase Of our trade in foreign countries.
Most of the conventions already made
await ratification before going into effect
but the first reciprocal arrangement, ef-
fected under the third section of the act has
been in operation now over a year. II is
intended especially to cover some very i'm
portant products of the West and North
west which are very largely handled by the
these exports of the United States for the
years 1898 and 1899 shows an increase in
one year in reciprocity of about Is per cent
200 per cent. in export bacon and hams an
increase of 11.62 per cent. in the export of
lard and its compounds.
I'VE have also, my fellow-citizens, made
a parcels post arrangement with Germany
the first ever made between the United
States and any country in Europe. 1t went
into effect on Oct. / and permits the inter-
change through the mails of all articles up
to eleven pounds in weight at the rate OF
IL cents for the first pound and reduced
rates per pound for increased weights. This
has been the result of fifteen years OF
effort TO reach such an agreement, but not
until now has II been carried through with
success.
Our shirbu.ldIng has been greatly in
creased Fer TIE first time in all our his
tory the tonnage of our steam vessels ex-
ceeded on June / the tonnage of all our
sailing vessels. barges and all other craft
We built i'm 1897 and 1898 more vessels of
steel than of ali other materials combined
Our tonnage increased during the latter
year 10000 tons and Is without parallel
steamships are under construction In the