Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1899-07-21
OFFICIAL PAPER OF THE COUNTY.
FRIDAY, JULY p, 1889.
THE YEAR IN BUSINESS.

The St. Louis Globe Democrat
sums up the business situation in
the United States in an able man
ner when it says that seldom has
the second half of a year opened
as auspiciously in a business sense
as has that of1899. In all particu-
lars the record of the first half was
encouraging. Secretary Gage esti-
mated in his annual report to con-
gress last December that the def
cit in the fiscal year which ended
on June 80, 1899, would be $1l2,--
100000. It amounted to only
about $88,OOO,O 900, or $24,0OO,O 900
less than the secretary seven
months ago figured it would be.
Part Of this improvement came
from a falling off in expenditures,
but a considerable part is due to a
gain in receipts. There was a
surplus in the month of June, the
governments receipts exceeding
its expenditures by nearly $751;
100000. June, however, is usually
a month of comparatively light ex-
WN EEf- 49, t#ra .s...|r 5
penditures. In July the govern
ment's income will probably fall
short of it's outgo. The general
tendency, however, hereafter will
be toward larger and larger re-
ceipts, while the expenditures,
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 en-
tire year.
The record in the general bust
ness 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 manufact-
ures, which is a test Of industrial
expansion, the country is surpass-
ing all past records. In the i'm
portant element Of pig iron pro-
duction, in which we have long
led England and all the other
countries, the present output is
ahead of all the figures Of the past.
and the general tendency is up
ward. Notwithstanding the in
crease in production, however, the
demand keeps ahead of supply.
Bank c%learances are far in excess
of those of any previous period
last weeks gain over the CORES
ponding time in 1898 being Al
per cent. The postal receipts,
which are an excellent index of
general business, were about $685.
100000 for the fiscal year, which
was about 100000 in excess of
those of the year which ended
twelve months ago. The number
of business failures between
January 1, this year and June 80,
and the liabilities involved have
been smaller than in the CORE
spending period in any other year
since 1881, and making allowance
for the number of persons in trade
and the amount of money invested
the record is much better even
than it was in 1881.
Everybody looks for a repetition
in the second half Of the year of
the favorable conditions shown in
the past six months. More bust
ness is being done at present than
was ever done before in the United
States, and it is being done under
safer conditions. There is a solid
financial prosperity throughout
the country at the present time
which was never exceeded in the
best business eras of the past, and
was seldom closely approached.
All this is due to the fact that the
political conditions are sound and
permanent. The Republican party
makes no reckless experiments in
fnanciering, but is governed by
the lessons Of experience and the
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