The times. [volume] (Richmond, Va.) 1890-1903, 1899-01-01
REVIEW OF THE YEAR
IN CLOSES WELL. WITH bright
PROSPECTS ron 1890.
BUSINESS BETTER SINCE THE WAR.
large Increase I'm Our Exports--Nev
Enterprises That Mean Much for
Rfchmona--our People seeking
Nome Investments.

10 views suggested at this season, when
both the business Of the past and the out
look for the future are subjects for
earnest consideration.
A retrospect Of the year. Interesting
from the circumstance that It Is one OF
the last of the nineteenth century IS
Invested With additional interest by
events more important than any which
have occurred since the time Of the war
between the States.
Thls community. in common with the
whole country, has reason for tho
profoundest qualification. not only
Tor the speedy termination Of those
dangers which menaced num-
Der OF our interests. from the
war with Spain. but also because despite
those dangers We have enjoyed a larger
measure OF prosperity than, under the cir
cumstAnces. could reasonably have been
expected.
After a period Of nearly five years Of
Repression ushCred In by a panic; charac-
ierzcd by a general shrinkage Of values
by Industrial inactivity and apathy in
trade. varied only by occasional REVEALS
Of business some conditions commenced
Ia 1896 % b. more Favorable 70 improve
ment. The balance Of tra0c with foreign
nntions began 10 set decidedly In our favor
that year: ia 1881 IL was still more
50, ald ouf large crops. especially of
grain. were marketed az decidedly more
taiisiActory prices.
LARGE INCREASE N EXPORTS.
During the year 1898 our exports show
yet larger increase. with an unprcce-
donicd amount OF American manufactures
going abroad and with a considerable
feclino in the imports, so that IL is est-
al IL. ia Iva I.-
We have exported AT least two dollars
worth Of merchandise for every dollars
worth imported. The credit balance TO
HE United States from these operations
che excess OF exports over imports) in
the last three years apprOximates the
Immense sum Of 81 100 10000 in round
figures This vast Increase in the ox-
port trade Of the country has proved
Gorbly beneficial TO our agricultural. man
ufactuIing. and Commercial interests
First, by bringing from abroad 10 this
country It's enormous value In cash and
also by relieving our domestic markets
from the glur and consequent lower
prices that would otherwise haze pre-
vailed
This balance Of trade has likewise so
strengthened our financial condition and
resources that 1t is believed American Sc
rurlues, heretofore so largely held
abroad, are now TO a great extent owned
In this country. which should give sta
bilify 10 values and tend 10 lessen the
susceptibility Of our stock and money
markets TO the e1igencies Of foreien af-
fairs and foreign markets
BUSINESS BETTER SINCE WAR.
These changes for the be err TO some
extent anticipated al the commencement
OF the year lSs were for awhile haletd.
fnd IN measure counttrbalaHced BY the
Imminent prospect Of the war with Spain.
although by many 10 was hoped that This
serious trouble might be averted, but from
the blowing UP OF the Maine. February
18th. until the signing Of the protocol.
August 10th, serious approximations were
1ejf That our commerce abroad might be
endangered. and that complications with
otner nations might arise. These natural
Iears, while discouraglng new enterprises
Tor the time, were 50 happily and tho
roughly dissipated by the achievements
OF the navy and army of the United
states that confidence was promptly re-
stored, and a remarkable impulse was
gwen 10 business, so that we now see the
healthy condition Of our foreign trade
rejected In the most decided manner in
our domestic affairs. The mines and fur
naces In all sections are in active onera-
ton. iron and steel industries Of almost
every description are taxed TO their ut
most capacity TO FL orders; staple crops
or the present year are being moved i'm
quantities and at figures cotton except-
ed erninenly satisfactory considering the
heavy yield of recent years: and nearly all
lines OF business have experienced for the
per,ou under review larger and more
profitable demand for goods
In further confirmation Of this sam
gnine view Of the situation bank clear
ings. railroad earnings. and the enhanced
value of most securities afford evidence
OF marked improvement.
TOO much stress can hardly be laid
upon these general features Of the wear
as they constitute the basis OF the most
certain prosperity 10 this. as well as att
other localities as no community, except
from most rare and unusual causes can
nope Tor healthy development without
me existence. 10 a greater or less extent
OF these general conditions Of prosnorifv
our city, blest with great natural re-
sources. and fortunate In some Of its ac-
CURED faculties ana advantages is be-
neVed 20 nave stood the ordeal OF hard
times as well any other CITY In the
country and Is destined to feel as sensi-
biy the qulckening impulse Of the good
tmes now az hand. Abundant evidences
OF this are TO be already seen The am
noai sales Or Richmond manufactures
increased this year about per cent. the
sales OF our Jotbcrs fl-2 nor cent. bamL
c'earanccs AZ Richmond l4l-2 per cent.
MANY NEW ENTERPRISES.
The disposition OF our people 10 embark
In new enterprises Is now manifest and
most encouraging. The Richmond T,psf
ana Safe Deposit Company the stock
or which was largely oversubscfioed: ire
W. X. Ifisg Company a ship-buildina
ENTERPRISE for which more money WAS
promptly rendered than reamred. The
large new papor-mill shortly 10 he l,l,t
on the site Of the HaNan-Crenshaw
Mihf; the projected power and Hgbt
plant OF the Virginia Electric Railway
and Development Company. the bonds
ana stock OF which have been ,var
fupscribcd for are some OF the notable
Instances OF renewed confidence ana an.
tcipfise
tbs last-named one promises 70 eAor
moss the mighty power Of the James.
which has for ages rolled unbril,ed TO
the sea. and distribute II 10 she Iaanu-
facturcrs OF Richmond at cost price
20 cheap that II will add largely 10
RichnOnd's present recognized advon-
tagts for profitable manufacturing. ana
VIII also. trust attract new carf-af
20 embark In new manufacturing enter.
prizes here. and add 20 Richmond's raoia
growth. The dream OF "the Oldest in
habifant" Is about 70 be realized and
the wisdom q Bryd Is fully established
IA pounding O city where the mighty en-
efgy OF the falls meets the tide OF the
James and is transformed into pco- |
Ducts that may be freighted on its deem
water 10 the sea and the markets or the |
world
In ali ~ thee ,,,4--.-s-.- - -.