Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1899-01-05
UNCLE sam FIXES PRICES
The Center of Financial Power for
the First Time Comes Across
the Atlantic.
AGREAT RECORD MADE IN THE PAST YEAR
Expansion of Trade Is Most He
mnrkable Interpretations Loaned
Abroad. While Gold Imports In
crease Breadstnffs i'm Demand
and All Lines share in Prosperity.


New York, Dec Sir G. Dun & Co.'S
weekly review or trade says: THE year -ssS
has not only been one of victory, of i'm
portant increase in territory and OF IN
caleulable expansion of the influence of the
United States among other nations. but has
surpassed all other years in financial and
industrial results The center of financial
power has crossed the ocean. After pay
ing debts of several millions abroad and
conducting war loan to an honora bic end
the country is lending so many millions In
Europe that, for the first time, banks
abroad look to New York to dictate the
rate of exchange. Exports have been about
81 PSF, 900, 900 and the excess over imports
about $617 600. 000 against 1851, GOO coo in 1877,
and in only two previous years has the bal
ance risen to $500, 600, 600. In no past calen-
dar year have the net imports of gold
reached SIS, 000. 600. but this year they have
been about s140,000.0O0 November passed
all previous months in value of produce eN-
ports over imports. but December has gone
much beyond November.
Demand UnequaIied.
Power in the worlds markets comes
with a demand for breadstuffs and other
necessaries never before equaled. Exports
of cotton have been over 100000 baies,
about 1896, 100000 pounds, and in no pre-
vious year as much 100000 bales, or
$500, 100000 pounds. Exports of breadstuffs
have been in value $2SS, 91S 294 in II months,
and have never been as large in any other
year. Exports of wheat for the year, lack
ing day or two, have been 21S 594, CSC BUSH
els, -four included. slightly exceeded only
by 225, 665,S12 in 1892 and of corn 200.979, or
bushels, only approached by 1891 $40 In
1897. The heaviest exports of both grains
and flour in any previous year were So
0e0,000 bushels smaller. only $50 220,5lS in
1897. Though wheat was raised to $l.9l in
May, the highest quotation with the
highest monthly average for 80 years,
$153.23, so that the average for the first half
year was Sill IL. exceeded slightly in 1891,
but the highest since 1885, the December av-
erage has been only 70 cents, % cents below
that of last year. but the years average
95 cents. is the highest since 1881.
Due TO Industrial Progress.
THE triumph in finance has been largely
due to industrial progress. The output of
pig iron has been about IL $4,000 tons, the
greatest yet reached in any year by 100000
tons, and greater than Great Britain ever
reached by 2S09,000 tons. Yet the con-
sumption in manufacture has been still
larger in spite of net exports of pig: in ten
months 1853. 0S9 tons for unsold stocks were
reduced in II months $50, 900 tons. Exports
of iron manufactures in ten months were
about $50. ga. 536 in value, against imports of
s13.497,S17.
Bradstreet'S Report.
Bradstreet's says: "Concisely stated, the
reports received as to the years business in
all sections of the country point to an un-
precedented volume of domestic and export
trade, which is reflected in bank clearances
that break the high record of 1892 The gen
eral level of prices of staples and Securi-
ties at the close of the year is at the high
est point reached for five years past These
general results in the country at large have
been achieved, too, Notwithstanding the
outbreak and conclusion of a foreign war
and in spite, also. of unfavorable condi-
tions in some industries, notably textile
manufacturing, which. combined with I'M
favorable weather early in the year and
the lowest prices for cotton on record, ex-
ercised an unfavorable influence. But the
close of the year finds an Improvement even
in those directions, and returns as to retail
trade, and particularly holiday business.
strikingly good in all sections
BEST reports as to distributive trade nat
urally come from the grain-growing sec
tons OF the country, which were the first
II feel an Improvement resulting from free
foreign demand for our cereals, but indi-
cations are not wanting that this improve
ment is gradually percolating throughout
the entire business community, and, coupled
with unprecedented export trade in man
ufactursd goods and the fact that we are
selling two dollars worth abroad for every
dollars worth we buy, renders possible the
gains reported in distributive trade over
1897, ranging from 10 to 40 per cent. with
likewise good reports from the manufac-
turing centers excepting the textile indus
tries already mentioned The export trade
of the country for the year. as above init
ma ed is the heaviest ever known, and will
probably exceed 81, 250, 0OO 900 in value, thus
being nearly double the imports. Our ex-
port trade in manufactured goods, il
might be observed. is the heaviest ever
known. and for the first time in our coun-
try's history exceeded the value of imports
or similar goods
The Record of Failures.
There were .6SS failures in the United
States in 1898. involving liabilities of SAL
1877, III, a decrease from 1897 in number of
1l.2 per cent. and in liabilities of 50 per
cent Compared with 1896 and 1895 the pro-
portion of decrease shown is even larger.
and compared with 1896 failures were fewer
by % per cent. and liabilities smaller by
s. per cent.
Took His own Life.