New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-23

tries Throughout the country mills. mines. fac
tories and furnaces started up. and by NOvem-
Der 20 following the election 200 establishments
had resumed work enlarged their forces. And
the number steadily increased in the years fol-
lowing. The cost Of the hard times OF Demo-
cratic rule was measured by falling bank clear
ings. decreasing railroad earnings. railroad
bankruptcies. gold exports and heavy losses In
individual and corporate wealth.
Compare the railroad earnings OF the last few
years with those in the 1892 70 1896 period;
compare bank clearings bank holdings. for
eign trade and the condition OF the laboring
man; compare conditions with conditions
four years ago this summer, and judge the prof
its Of Republican rule. Early in November, 1895,
deposits OF the New York Clearing House banks
stood at 100000 while IN few weeks
after the election they increased TO S490OOOOOO.
and at the present day they foot UP 1898. 1000
And loans which reflect the business activities
OF nation increased from SAP. 1T9 700 at the
time OF McKinley's election 70 SSO9.9S9,OOO az
present In the first year OF President McKin-
ley's term there was a decided recovery in busI-
ness. all lines OF industry sharing in the Inn
provement The wheels OF trade were put in
motion. and the impetus given by Republican
success carried the country 10 season OF pros
perity never before equaIIed IN the history OF
the nation
It was the bounty Of nature and not the Re
publican party that gave the country good crops
in the last three years but the agricultural stu
alton alone would not have produced current
prosperity. The country under the Dingley tariff
has produced wonderful increase in the manu-
featuring activities OF the people. and within
the last three years the United States has en-
larged it's exports OF manufactures to ex-
tent that seems truly remarkable; and the Re-
publican party is responsible for this
In the fiscal year which will end this month
total exports viii exceed those or any preceding
year. and. as compared with last year, IN value
more than S1JOOOOOOO. OF this increase 49,
100000 will represent the gain IN exports CT
manufactured articles This is a point worth
bearing IN mind. II would not have been
ccu2Iiched II the Democratic party had been
suSees5fui IN 1896. and it viii not be accom-
r,Ished next year II Mr.. Bryan should by any
unfortunate miscarriage OF politics be elected in
November. The evidence OF business progress is
well reflected in a country's foreign trade. es-
pecialy in its exports OF manufactures; and re-
gardng the heavy gain in the volume OF exports
this year, it should be recalled that the record
has been established. despite the heavy advance
in prices The total exports for the eleven
months Of the year have been in value S1.2S6,-
214534. figures that in the times Of Democratic
rule would have seemed chimericaL
AN ENORMOUS TRADE BALANCE.
In consequence OF the Industrial activity IN
the last four years the excess OF exports over
imports for each year has been enormous. and
in the current year the trade balance IN this
country's favor will amount 20 over $3.50 1000.
This balance has not only remained unpaid but
| It has been added to by an excess Of specie ex-
ports imports Silver goes out com
modify. Gold has been going out because for
eign nations need the metal and are willing 70
pay for 1t In this market The United States IS
now lending enormous amounts OF money
abroad, while four years ago the country did not
have the money TO lend. nor did IT have credit
! good enough TO keep foreign money here This
/ has baen one Of the important revolutions OF tho
| last few years OF Republican rule. and its I'm
| pOrtance cannot be overestirnated- The Aueri-
can securities that Europe has sold since 1896
| have not represented sales due TO fear or IN
/ easiness over conditions here. but sales made
/ in order 70 pay trade debts due this country
/ And even with this method OF settling balances
| the debts have not all been paid. and balances
stiH due are lending in Europe As a result
| Of the countrys growth in foreign trade IN the
/ last four years the United States has become
| the leading exporting nation; It's money market
| has cut loose from the control OF London. Paris
and Berlin, while New-York is fast becoming
| the clearing house Of the world.
/ The doctrine OF the siIverfte IN the campaign
/ OF 1896 endeavored to force upon simple minds
not be increased under a gold standard: but II is
| interesting TO note that there Is S6OOOOOOOO
more money in circulation to-day than there
/ was in 1886 There has been a big gain in the
/ per capita circulation. and there are thousands
/ OF men with dollars in their pockets now who
/ would have been bankrupts had debase4 cur
/ rtncy been adopted The Iaboring man Is better
/ of and the employer IS more prosperous In
vestments that yielded little In the years OF the
/ last Democratic Administration now return
handsome interest and dividends and IN Janu-
/ AIRY OF the current year disbursements on this
account were larger than ever before recorded
| aggregating 500. 756,OS1 This amount. com
| pared with SIS G61. 800 In January. 1899 S7e
| 2O1O25 in 1Ses S7S3S1. $50 IN 1897 and ST.
/ 10S.2SO in 1896 An increase IN January. 1900
/ over January. 1896. OF nearly S3OO1OOOO is
/ shown by the record. The supply OF money Is
/ constantly Increasing. and II IS not afraid to
\ move into the channels OF trade
! A Presidential campaign is now on but he
/ lieving IN the good sense OF the American peo-
/ pie. capital Is not seeking a hiding place in
| stockings It did in 1885 when doubt fear
\ and pessimism created by four years OF trial
and trouble caused every man 20 keep his money
/ where he could see and feel H.
| The progress OF the country Is reflected In rail-
way traffic. In the fiscal year now closing traffe
| receipts have been heavier than in any precedinV
/ year In the history or the country's railroads.
I he IL. IN all