New-York tribune., 1900-06-14
AN UNPARALLELED YEAR.
TRADE GIVES SPLENDID DEMONSTRATION
OF REPUBLICAN SUCCESS

Washington, June 13 (SpeciaD.-O. L. Spaulding,
Assistant Secretary of the Treasury. In charge of
the customs and navigation branches of the De-
partment and of matters directly relating TO 90
nestle and foreign commerce states that the fiscal
year ending June 30 will be unparalleled. accord
ing to Department reports. in its evidences of the
country's growth and prosperity.
Il have been examining says General Spaul-
ding, with the returns from collectors of
customs already received and making some esti-
mates of the returns for the rest of June, which
will close the fiscal While every from his
own experience knows that the last four years
have been successful from business point of
view. doubt if the magnitude of trade is fully
appreciated Our exports and imports of merchan-
disc beginning with the year 1897 have each year
shown steady increase. and they have this year,
for the first time crossed the 81 600 900 line For
the years nearly ended they will 81 go.
100000.
What is most gratifying is that these
nous figures stand for Industrial activity in which
every section and every interest of the country
had its share There has never been a time in
history when the growth of the country has been
so symmetrical and the gains of labor and capital
sc widely distributed among our people. Even ship
building and navigation, hitherto the most back
ward of industries show surprising advances.
Our total tonnage at the end of June will be up
the five million ton mark for the first time since
1865. During the last four years we shall have
added 1.2S0000 tons to our shipping compared with
only 10000 tons for the previous four years and If
the returns for eleven months are maintained dur
ing June the additions to tonnage this year
will be greater than for any year since the begin
ming of the war We have done small share of
our foreign carrying trade, but the wisdom of
coasttng trade policy is abundantly proved.
The contrast between industrial conditions
for several years before March T. 1897 and for the
years of President McKinleys Administration Is a
splendid demonstration of the success of Repub-
lican rule. A sound currency and a stable and
properly adjusted tariff are essential to the coun-
try's welfare. The Democratic party proved its in
capacity to deal with either subject Every days
returns to the Treasury testify to the wisdom of
the Tariff act of 1897 and the Currency of 1900
Those measures of incalculable benefit
American commerce. a well to manufactures
and agriculture. The establishment of the gold
standard had become essential to the of
foreign trade.
Hardly second in Importance to these two meas
is the correspondence of Secretary Hay with
European Powers. which has guaranteed the open
door in China to American exports The wheat
growers of the Northwest the cotton growers of
the South and manufacturers everywhere al
ready realize that Asia is destined to be of
great markets for their surplus products Porto
Rico has been provided with the best means of
communication with the United States the island
enjoyed, and opportunities for trade which
The establishment of the Territorial government
June IA viii stimulate trade with Hawaii and
the gold boom in Alaska is to be followed by
the steady development of the resources of that
Territory.
THE present Administration found the home
market invaded and domestic industries prostrate
1t has more than fulfilled its promise to secure
the home market to home producers; 1t has OBJ
tanned larger share of foreign markets than we
improved every opportunity to the future of
our export trade"