Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1899-05-24

Brighter.
Louisville Courier Journal, Saturday.
Richard Fl. Edmonds, editor anc
general manager of The Manufacturers
Record of Baltimore, is generally look
ed upon as one of the best informed
men in the country on the genera
commercial status.
In discussing the general business
outlook for the country Mr.. Edmonds
said last night: "We have entered
upon an era in business and CONNER
cial affairs with which there is nothing
in all our history to compare. The
revolution through which we are pass
ing is the most wide-reaching upon the
worlds affairs that has ever beer
known. Before the civil war and af:
ter it, even up to about 1890, we were
busy developing a continent. The
opening up to civilization of the great
west, the building of about 10000
miles of railroad, which we have done
in the last 40 years, the creation of oul
vast industrial interests, now employ
ing from 100000 to 100000 hands
and turning out annually between $12,.
900, 900, 900 and SIS, 900, 900, 900 worth
of products, or about four times the
total annual value of all our agricul.
tural products, were tasks sufficient to
employ our energy and capital. Nc
other nation ever made such a record
and we may well afford to boast Of
what we have done.
"But what we have accomplished is
only an indication of our future. Un.
til about four or five years ago we
we're not counted as factors in the
worlds commercial affairs, except as
an exporter of grain, provisions and
cotton. Today we are the domina.
ting power in the worlds industrial
activities. We are fixing the price fol
every ton of pig iron and steel rails
which the world is consuming. II
matters not how distant the country,
nor how great the undertaking
American iron and steel set the price
which all other producers must meet
or else lose the business.
ga few years ago we were import
ing an average of about 1,000,0 900 tons
a year of iron and steel. Now the
conditions are reversed, and we are ex'
porting as much as FIVE years ago we
imported. Our bridge builders are
capturing contracts in Africa and In
Asia our locomotive shops are export
ing almost as many locomotives rs
they are supplying to our railroads
our metal and woodworking machin'
cry makers are finding an ever-expand-
ing market in Europe, in the Orient
and in Africa.
"These are new conditions. They
are 30 revolutionizing in their effect
that we have scarcely had time to con.
prehend their full meaning. Within
five years we have become creditor
nation instead of a debtor. The bal.
ance of trade in Our favor-the excess
of our sales to foreign countries over
our purchases from them during the
last three years-amounts to 81, ,500,-
100000. In all our history we have
been a debtor nation to Europe until
now, when Europe is largely in debt
to us.
ave have had little or no part in
supplying the worlds demands fol
manufactured goods; but now we
are crowding our Old World com
petitors. England stands amazed al
our progress and German iron makers
find their own home markets invaded
by our products. In Is years England
has made no progress in iron produc'
ton, her output of 100000 tons in
in that time being practically the high
est point reached, while we have
doubled our output and against Eng.
lands 100000 tons of pig iron will
this year produce 100000 to IA ,OO0,,
600 tons. The opening up of Africa
and Asia, the development of great
navies and the new uses to which
iron and steel are being put make the
world hungry for iron and steel. Con-
sumption is everywhere increasing at a
marvellous rate, and until China, in
the distant future, develops her iron
and coal resources, the United States
must of necessity supply the greater
part of this increase. Whether China
will ever become an important factor
in the worlds interests need not con-
Germ this generation of Americans.
SIN this mighty advance-the most
marvellous that the human race has