The age-herald., 1899-01-03
1898 WAS 4 VERY
 PROSPEROUS YEAR Tho Nations Business Was Never So
 Enormous. BIG GAINS IN DECEMBER Records Far SurpaSS Those of Any
 Other Month. MILLIONS DUE FROM ABROAD Foreigners Are Trading Heavily With Us-Twenty-Five Thousand Tons of Bessemer At $1o- Gray
 Forge Bringing $o.4o.
MILLIONS DUE FROM ABROAD

Balance of trade in favor of the
 United States, Deceber testi-
 Inateu) ..... ...... .........$ 'o,oVV'Vo
 November ... ... ...... ......... 79,42S,S96 Increase in exports for December
 over December, 1897 (estimated),
 per cent ....... % Iron and Steel-Increase of ex-
 ports for 1898 over 1897 (per cent. 70 Orders for iron and steel products
 now in process of filling in the
 United States for foreign use
 Uons) .... ........ ...... ..... 900
 For domestic use (tons) ......... 24.60O Breadstuffs, provisions, cotton,
 cattle, hogs and petroeum-in-
 crease of exports for 1898 over
 1897 ..... =. ........ ......... ... 100000 900 General Merchandise-Increase of
 exports for 1898 over 1897 ........ 5o.OOO GOO Excess of exports of United
 States over those of Great
 Britain for 1898 .... ...... ..... 200, 900 000 Excess of tonnage of vessels en-
 tering and clearing New York
 over that for London, 1898 (tons). 300, GOO
 More business being done by the merchants and manufacturers of the United States than at any previous time in the history of the country When the accounts for December are made up it will be seen that the total volume of business for the month was bigger than that for any mOntn or any other year.
 The tale of prosperity which is being told by the trade figures of the year is some thing bewidering. It shows the United States to stand nearer to the leadership of the worlds commerce and industry than any but the most enthusiastic had dreamed. In a period when great national war was carried on, in a time of ferment at tending the birth of new national policy, the business of the country has marched steadily on with strides rapid almost be- yond belief.
 These are some of the things over which Americans may be proud and upon which foreigners may pause long to refect
 The exports of the country are vastly greater than they ever were before. Though imports have increased remark ably, exports have increased so much faster that the balance of trade is rum ming about $75,000,000 a month in favor of the United States, condition the results of which have already been seen in the efforts of foreign nations to borrow in the American money market.
 The export trade of the United States Is far greater than Great Britain.
 The tonnage of vessels entering and leaving New York harbor is much beyond that in London harbor.
 While business in nearly every line has rapidly increased, the manufacture and commerce of iron and steel-commerce vital for interests both of war and of peace has exceeded all others. The exports of iron and steel for 1898 exceeded those for 1897 by 30 per cent.
 Bank clearings furnish one of the best of proofs of prosperity. This is their record:
 The payments for the week closed were 285 per cent. greater than they were the corresponding week last year. and 124 greater than for the corresponding week in 1892. before the era of hard times and depression began.
 This means clearly that all that was lost in business way through the panic has been regained, and that great additions in )business have also been scored. Enormous Gain in Exports
 The figures for exports and imports tell the same story in an even more specific tsway. They show the tremendous produc- tive power of the country and they make clear how great is the pressure for its en- trance on a grand scale into the interna- tional commerce of the world. They show just what the force is which makes busi- ness expansion unavoidable, and which has dragged with 1t as an incident territorial expansion and the acquisition of the hPilip- pines In these figures the statistics and estimates of Secretary of the Treasury Gage and of Dun's agency confirm each other. It Is true, there have been some change and heavy railroad earnings, but even when these are eliminated the busi- ness of the country stands very much larger than in any other month of any other year.
 December a year ago the exports of the United States were greater in volume than in any previous month in the history of the land. This December the exports will be 25 per cent. greater than they were last De- cember. At the same time the imports of the country have increased about per cent. This is a splendid gain in itself, but it is little when compared with the gain in ex- ports. That is why the balance in trade has been so strongly in favor of the United States
 Millions Due from Abroad
 With more than 900 due this country in cash as the result of November ex- changes of goods with foreign nations, and with an assurance that almost the same amount will have to come this way when the December accounts are settled, 1t will well become a problem for European na- tions how they can make good what they owe without intrenching too much on theA MBEE5& AWEGgH