The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1899-07-12
The Year in Business

seldom mas Due SecOlu udli VI a.
year opened as auspiciously in bust
ness sense as has that of 1890 In all
particulars the record of the first half
was encouraging. Secretary Gage
estimated in his annual rel ort to
Congress last December that the de-
felt in the fiscal year which ended on
June 30, 1899, would be $4,000, 900.
1t amounted to only about $SS, 900, 900 .
or $24 ,OOO, 600 less than the secretary
seven months ago figured it would be.
Part of this improvement came
from a falling off in expenditures,
but considerable part is due to a
gain in receipts. There was a sur
plus in the month of June, the gov
erument's receipts exceeding its ex-
penditures by nearly $16,000,O 900 |
June, however, is usually a month of
comparatively light expenditures. In
July the governments income will
probably fall short of its outgo.
The general tendency, however,
hereafter will be toward larger and |
larger receipts, while the expendi-
lures, Notwithstanding the increase
of the army which the Philippine
campaign is making necessary, are
likely to be kept below the receipts
in the grand aggregate of the entire
year.
The record in the general business
of the country is even more favorable
than the governments exhibit. The
country's exports of merchandise
these days are at the highest figures
ever touched. In the item of exports
of manufactures, which is a test of
industrial expansion, the country is
surprising all past records. In the
important element of pig iron pro
duction, the present output is ahead
Of all the figures of the past, and the
general tendency is upward.
Notwithstanding the increase in
production, however, the demand
keeps ahead of supply. Bank clear
ances are far in excess Of those of any
previous period, last weeks gain over
the corresponding time in 1893 being
Al per cent. The postal receipts,
which are an excellent index of gen
eral business, we're about $95, 900, 900
for the fiscal year, which was about
5000, 900 in excess Of those of the
year which ended twelve months ago.
The number of business failures be-
tween January this year and June
30 and the liabilities involved have
been smaller than in the correspond
ing period in any other year since
1881.
Everybody looks for a repetition in
the second half of the year of the
favorable conditions shown in the
past six months. More business is
being done at present than was ever
done before in the United States, and
it is being done under safer condi-
tions There is solid financial pros
perity throughout the country at the
present time which was never ex-
ceeded in the best business eras OF
the past, and was seldom closely ap
preached. All this is due to the fact
that the political conditions are
sound and permanent
The Republican party makes nC
reckless experiments in fnanciering
but is governed by the lessons Of ex
perience and the most enlightened
Judgment Of the world. By its victor!
in 1896, it defeated the last formidable
assault which will ever be made OF
the gold standard The fight will b.
renewed in 1900, for the Democrat,
party is bound to make one mor'
canvass in favor of reputation. Thi
time, however, the Republican part!
will gain a more sweeping victor.
than it got in 1896, and the victor.
will be final.
No intelligent person feels an,
doubt that the defeat of the Democ
raey in 1900 in its championship o
debased money will finish that folly
as political issue This is why th'
volume of industrial expansion
throughout the United States at tn
present time is greater than it eve
was in the past, and why it promise
TO be still greater in the immediat
future.