The observer., 1900-01-13
SOME GOLDEN FACTS.
ILLUSTRATIVE OF THE PRESENT ERA
OF PROSPERITY

OF PROSPERITY
Enormous increase in tho Amount 81
Money Id the Hands or the P6opl,
and in the Vaults Sf the National
Treasury:
In timely and instructive eontri.
button to the Saturday Evening Post
of Philadelphia Frank A. Vanderlip,
Assistant Secretary of the Treasury,
brings into view some of the splendid
facts of the prosperity with which the
people of the United States are
blessed, and for which they mainly
have to thank the change In national
policies brought about by the
Presidential election of 1896. The
Assistant Secretary, whose relations
to Government finances enable him to
speak With knowledge and authority,
draws attention to the remarkable
statistics of the iron trade as present
ing "a comparison of both relative and
absolute development such as has not
been seen before" Some of the facts
resulting from wise economic laws are
best stated in Mr.. Vanderlip's own
werdsl
IA decade ago We imported $71,-
100000 and exported $4,000, 900 Of
iron and steel manufactures: Since
that time imports have steadily fallen
and exports risen, until for the fiscal
year 1899 we imported but $12, 900, 900
and exported nearly $94,OOO,0 900. In
spite of this unparalleled production
the price of pig iron rose in eight
months, February to September, from
g11 to $24 ton, and at this advance
nearly every mill in the Country Is 50
busy that practically no orders eau be
accepted for early delivery.
'For five years we imported almost
double the value of manufactures that
we exported. For the fiscal year 1893
we exported nearly $50, 900, 900 more
manufactured goods than we i'm ported.
In 1898, fer the first time. our ex-
portations of manufactures exceeded
the importations, the excess being
about twenty-five per cent"
Where for many years we imported
on an average of 81, 900, 900 of manu-
factured goods day and exported
about half that amount, he says, "for
the fiscal year just closed we exported
considerably more than 81, 900, 900 of
manufactured goods every working
day of the year"
The shipping industry, he says,
also shared in the general prosperity,
quoting statistics showing the increase
in tonnage aud in the number of new
vessels constructed.
He shows that the bank clearings
have increased forty-one per cent. and
the deposits twenty-three per cent.
If the figures were eontrasted with
those of three years ago the increase
in the deposits would be seventy per
cent.
He shows in the two years mp to
October /, 1899, the total money
circulation In the peoples hands has
increased $270, 900, 900.
''The total gold in the country to-
day." he says, ''stands at 81 900, ,0OG,--
900, which contrasts with $641, ,OO0,-
900 three years ago. Gold is becom-
ing the everyday money of COM
merce, and is no longer found only
locked up in banks and safe deposit
vaults" .s:&seSA
Another fact he brings out is the
breaking of large bills into small ones.
In four years the number of 81 bills
has been increased from $40, 0O0,00
to $57, 900, 600; of 50 bills from $685..
900, 900 to $36, 900, 900, and of $5 bills
from $245, 900, 900 to 1921, 200, 900.
The Government securities have ad-
vanced and the Agricultural Depart
ment estimates that the value of farm
animals has increased $342, ,OO0.0 900.
Money orders have increased more
than $20,000,00O Immigration has
increased thirty six per cent.
All these things have come to pass,
together with many other things of
equal Importance, under a strictly
American administration. The tide
turned when we began to show less
concern for the fortunes of foreigners
and more concern for the fortunes of
our own people.