River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1900-07-05
COMMERCE GROWING.
Secretary Spaulding of Treasury
Department Gives Facts.
Present Fiscal Year Unparalleled In
Evidences of Growth and Pros
perity-Unprecede In
dnstriaI Activity.

o. l.. Spaulding, assistant secretary
of the treasury, in charge of the Gus
toms and navigation branches of the
department and of matters directly re-
lating to our domestic and for
eign commerce, states that the fiscal
year ending June 80 Will be unparal-
leled, according to department reports,
inits evidences of the country's growth
and prosperity.
II have been examining" says Gen.
Spaulding, with care 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 year. While everyone from
his own experience knows that the
past four years have been successful
from business point of view, doubt
if the magnitude of our trade is fully
appreciated. Our exports and imports
of merchandise beginning with the
year 1897 have each year shown
steady increase, and they have this
year. for the first time, crossed the
s., 900 ,O00o0 line. For the four years
nearly ended they will exceed S7,o25,-
000, 600.
WHAT'S most gratifyingis that these
enormous figures stand for industrial
activity in which every section and
every interest of the country has had
its share. There has never been time
in our history when the growth of the
country has been so symmetrical and
the gains of labor and capital so widely
distributed among our people. Even
shipbuilding and navigation, hitherto
the most backward of our industries,
show surprising advances. Our total
tonnage at the end of June will be up
to the 100000 tons mark for the first
time since 1868. During the last four
years we shall have added 1885, 900 tons
to our shipping compared with only
100000 tons for the previous four years,
and if the returns for IL months are
maintained during June, the additions
to our tonnage this year will be greater
than for any year since the beginning
of the war. We have done very small
share of our foreign carrying trade,
but the wisdom of our coasting trade
policy is abundantly proven.
''The contrast between our Industrial
conditions for several years before
March 4, 1897, and for the years of
President McKinley's administration
is a splendid demonstration of the sue
cess of republican rule. A sound cur
rency and a stable and properly adj
justed tariff are essential to the coun-
try's welfare. The democratic party
proved its incapacity to deal with eth
er subject. Every days returns to the
treasury testify to the wisdom of the
tariff act of 1897 and the currency act
of 1900. Those two measures are of in
calculab1e benefit to American com
merce as well as to manufactures and
agriculture. The establishment of the
gold standard had become essential to
the success of our foreign trade.
Hardly second in Importance to
these two measures is the correspond
ence of Secretary Hay with European
powers which has guaranteed the
open door in China to American ex-
ports. The wheat growers of the
northwest, the cotton growers of the
south, and our manufacturers every
where already realize that Asia is des-
tined to be one of the great markets
for their surplus products. Porto Rico
has been provided with the best means
of communication with the United
States the island ever enjoyed, and OPP
portunities for trade which will prove
reciprocally beneficial have been ere.
ated The establishment of the terri.
torial government on June IA will
stimulate trade with Hawaii, and the
gold boom in Alaska is sure to be fol-
lowed by the steady development of the
resources of that territory.
"The present administration found
the home market invaded and domestic
industries PROSTATE. II has more than
fulfilled its promise to secure the home
market to home producers; it has OBJ
tanned a larger share of foreign mar
kets than we ever before possessed,
and it has sought out and improved
every opportunity to secure the future
of our export trade"