The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1899-01-21

trade show: Excess OF exports year end
ing June 30, 1896. $3.50 ESQ; excess CT ex-
ports year ending June 30. 1897. s265, 62l, 1l2.
excess OF exports year ending June 80 1898.
ql5 2591A Total for three years, $685.
$751; l9 Excess exports July 20 October 30.
1895. four months. Sl6o. 7s9, SS4, making total
or 81, 100. 100000
Here is an addition OF over 81 .lO0. 900. coo TO
the wealth OF the country from surplus
products In little over three years. There
~ a persistent and importunate demand for
our grain, provisions, cotton and manufac-
tured products. which insures for the rs
cal year ending June 30 next another large
excess OF exports The total gain TO the
country In four years Will probably be In
excess OF 81. 500 0o0. 600.
The trade statement for the three proceed
ing years Is important, showing the grad
ual growth OF foreign trade: Year ending
June 80 1898, excess OF imports, nS, 7S5,72s,
year ending June 30. 1894. excess OF exports,
S237, las, $50: ending June 80. 1895. excess of
exports, $64,076,7S2 These net sales OF sur
plus products must be paid for In some
form. Foreign nations did not have r,l0o.-
600 600 gold TO remit, but they sent w some
gold and some securities. To-day they owe
us In various forms large amounts OF
money I'm the shape OF liabilities, as. for ex-
ample, exchange, the collection OF which
has been deferred The debt, moreover.
will grow instead 81 decreasing. We have
not demanded money due us by foreign ma
lions. because OF the fear OF disturbing
monetary affairs In England. Germany,
, France and other countries, and because II
pays US 20 leave II at present
gratifying feature of our foreign TRADE
Is the growth In exports OF manufacture
In rs years these have nearly trebled. Last
year they were nearly $500 100000. There 10
every prospect that this growth will con-
tinue We have imported fewer manufac-
tured goods because we have learned how
TO make our own, and with improved ma
chlnery, abundant raw material and skilled
and wels-fed worixmen, we compete with
the world In manufactures as meyer before
Tho opening OF Chinese and other eastern
markets will furnish new and almost I'M
limited opportunities.
II Is this enormous debt OF foreign ma
lions TO US which has made money so easy
throughout the country, flooded the west
with capital, filled western banks TO reple-
ton, and brought western mon In large
numbers 20 invest In our securities
Hardly one man In a thousand In the
United States realizes this change. The
power OF 81 900. 100000 increased wealth no
one can controvert The figures are so stu
pcndous and the logic Is 50 irresistible that
the student stands aghast Few have ever
seen these figures grouped In this form, and
even the financial writers OF the press,
clever and able as they are, have not
seemed TO grasp their magnitude and the
Irresistible Investment and speculative
momentum they have unquostionably ex-
ercised. Ii must also be remembered that
while this increased wealth II from exports
only. the country itself has grown richer
in even greater proportion. There has been
nothing like this foreign trade statement
In the history OF the commerce OF any couE-
| try.
This picture, drawn by the master
hand Of one of the worlds leaders I'm
finance and business, Is remarkable for
lis truth, It's simplicity and its power,
Nothing need be added 10 II.