The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1900-07-13
AMERICAN PROSPERITY.

AhEhlCAN fhOsfhhlAts
The new prosperity of the United
states IL drawing the attention OF
economists as We'd as campaign de
baters. The Literary Digest notes the
appearance of book on the subject,
wherein the increase Of business during
the past few years II comprehensiVely
and to some extent analytlcally dealt
with. This work, the author OF which
is Ray stannard Baker is called our
New Prosperity" From 1t the follow
ing bits of information are CLEANED:
Between 1891 and 1900 European
banks of issue gained 100000 In gold,
going from 81, 59l, 900, 900 to sl.595,0OJ,OOO.
In the same period the United States
showed a gain from 1898 900 to ST.
ole, 900. 600. The savings-banks statistics
showed that whereas the average indl-
vdual deposit In 1894 was 1895, In 1899
1t was SAG. IT is interesting to note
from Mr.. Bakers figures how quickly
the unusual prosperity of the country
is reflected in the charitable gifts of the
wealthy people of the land. For In
stance, in 1898, Americans gave $685.
9s4, 900; in 1899 the total charitable gifts
amounted to s79,749,956. AS 1t might be
expected, the use of luxuries Increased
among Americans at tremendously
rapid rate along with the advance OF
good times. A curious instance or TINS
is seen in Mr.. Bakers investigation of
the piano trade. He forrd that in the
nine Stats OF the Northwest more
pianos were sold IN six months of 1899
than during the entire previous six
years. In the diamond trade he shows
that 1897 brought S2.000,000 worth OF
diamonds into the country; 1898, $1,000
600: and in 1899 no less than s12, IT'S, $50.
The general prosperity extends to
some UNEXPECTED phenomena. For in
stance, owing to the larger business be-
tween the small buyers and the retail
stores. the American people were using
S1l ZOO, 900 more of dimes, quarters, and
half dollars in September, 1899, than
they had been using in September, 1897.
The postal business is not behind in It's
rapid extension. For the year ending
June 30, 1899 1000, 900 more money or
ders were issued than in the year 1895,
the increased amount coming to $780,
900 900, and the average amount per or
der had been increased from 81 to $40.
More curious STILL reports from vari-
GUS States show that crime everywhere
decreased. Take, for instance, the
showing in the single State of Illinois.
For the year ending September 30, 1895,
during the hard times, 927 convicts
were sent to the state penitentlary. In
the year ending September 30. 1899, the
number was only 506, or hardly more
than half. The decrease, 1t Is said,
was unquestionably due to lessened
idleness. The army of unemployed Is
no longer an army and no longer I'M
employed; and there Is in consequence
less drunkenness and less tendency TO
crime. Prosperity also brings with 1t
a feeling of hope, and 1t Is now easier
to earn a living than to steal 1t.
1t was the Democratic theory four
years ago that, If home industries We're
protected, the import trade would fall
off so rapidly as to leave a revenue def
icit and compel the Government to
make good the losses of the Treasury
by means of internal revenue taxation.
Democratic and free trade advocates
did not realize that the prosperity due
to a revival of home manufactures
would both tempt and enable people to
buy luxuries and that a considerable
part OF these good things of life would
come from abroad and pay tariff duties.
Witness the statement about diamonds.
Under the low tariff which existed dur
ing the greater part of 1897, but $1,000
900 worth of these gems We're brought
into the United States. The duties
were low enough but people lacked the
money to buy. By virtue of the Ding
ley tariff duties went up upon almost
everything used or consumed in Amer
lea, our industries took new start and
now (for 1890 behold the Importation
of diamonds to the value of si2, IT'S, $50 /
Silks wines, works of art and the like
present the same phenomena. 1t is bet |
ter to make things dear and give every |
body the money to buy than 1t Is to
make things cheap and withhold the
means of buying. That is the philoso-
ply OF the protective tariff in nut /
shell.
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