The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1900-12-29


tres of operation to advance and hold
up prices-not merely of manufactured
goods. but of agricultural products.
Southern cotton and Western grain
were advanced under favorable condi-
tions which made it possible to make
the advance impressive at time bank
clearings We're declining. A world
wide exertion of the activity of manu-
facturers, banks. railroads and mer-
chants followed with this-giving such
splendid illustration of the power of
organization as may well be pro-
nounced worthy of the last year of the
Nineteenth century.
II.-INDUSTRIAL EXPANSION IN
1900.
Intimately associated with the po-
iitical movement of the year was an
unprecedented international movement
of trade "eXpansion;| attributed to the
closer organization and more effective
cooperation of combinations of capi-
tai which takes no account of the
boundary lines of Ountries as they are
marked on the maps. The protected
industries of the United States. long
subject to attack because of their dis
regard of the export trade, eXerted
themselves in carrying out well-con-
ceived plans for making such show
ing of export business as would silence
their opponents on this score. This
American activity was met by CORE
spending activity in England. Ger
many and other countries of Europe.
ca a ha ch ms
extraordinary in many respects be-
sides it's volume. IT was accompanied
in the United States by increasing
restriction and high prices for articles
offered in the "home market" the eX
ported surplus" serving to relieve
the home market and thus prevent a
break. In almost every important line
of production. the American market
was controlled thus during the whole
of the year. and the same phenomenon
was marked in England, where the
combination of corporations was a
feature of the years business.
EXPORT MOVEMENT.
The export movement from the
United States, Canada. England, Ger
many and France was the most nota-
BILE feature of the years history-un-
less we except the colonial eXpan-
sion," with which trade expansion
seems to have had an intimate moral
relation. In Il recent number of the
Bankers Magazine London), Mr.. j.
r. Lawson makes very intelligent
comment on this. Just now," he
says, "the world is on the crest of a
great wave of industrial activity which
dwarfs everything else. The most gil
gantic speculations of the day are car
ried on. not in stocks but in coal, iron,
copper, cotton, and even breadstuffs.
While consols and other silt-edged Sc
curities have been WASTING away, sta
pie commodities have doubled or tre-
bled in value. Every manufacturer in
the country (England is busy. Iron
works, factories and ship-building
yards all are at high pressure. The
industrial output not only of the
United Kingdom, but of all the COM
mercial states is unprecedented. TIE
statistics fully support this assertion.
In the United States during the first
three quarters of the calendar year.
exports exceeded $9OO,OOO,O 900 land for
the first time in the history of our eX-
port trade, every month has exceeded
$100000,000. while the total of $l31, 49,
600 for March is the largest total ever
reached for single month" The eX-
cess of exports over Imports averaged
$4O, 100000 month The gross earn
ings of American railroads. to October.
reached $685. ,000-a gain of 10 per
cent over 1899 and of 232 per cent over
1898. The only thing which seems out
of sympathy with this movement is
bank exchange. which, as reported
Dunns) in the United States. for nine
months of the year, show, as compared
with 1899, a loss of 1874 per cent for the
first quarter; l2.5 per cent for the sec
ond: and lS.9 per cent for the third
The comptroller of the currency re-
ports. however, that from March lst to
September 1ith. 3l2 banks We're organ
ized under the new act with capital
of $16,09S, 900. Unofficial statistics of
new industrial and commercial cOrpOr-
ations organized from January to Aug
ust give them total capital of Sl,S69,-
600, 0,0O0--incredible figures which go
we'll with the general movement of
business,
AN INTERNATIONAL MOVEMENT.
The statement that this movement
was international is fully supported by
the reports of reliable English statis-
ticians. They place the increase in
the export business of this United
States for the fiscal year at IA ner cent
over the preceding year; with an in
crease for Canada of IL per cent dur
ing the same time. From January to
July. English exports We're G16S, 92S 900
IA gain of G36,OOO,0OO over 1898. In
the same period German exports
showed total of e1O652l, 900 as com
pared with Gs9,4S1,O the previous
year. France increased over 20 per
and Italy about 20.
1t Is hardly necessary to extend sta
tistical inquiry further. 1t is clear
that the industrial movement of the
year was an analogue of the political
and its characteristic feature has been
rightly described as Expansion" rath-
er than as development. The export
movement for Colonial" markets was
coincdent with a terrible famine in
India; with destructive war in South
Africa, with fighting in the Philip
pines, and with war and radical dis
turbances of normal industrial condi-
tions in China. The figures of exports
given are all figures Of valuation fixed
at the domestic prices of the market
from which they We're exported. They
do not represent sales and the returns
in cash r'"e!ved by the manufacturer
nor do they stan 10" actual consump-
Ito" road. IF, @s : result of trade
eNC y. they laY sed into actual
On" 'nptoA abro Il at their statistical