The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1900-07-10
AN -Ai.AN rAosrAhI,Y.

The new prosperity of the United /
States Is drawing the attention OF \
economists as weL as Campaign oe- i
baters. The Literary Digest notes the
appearance of book on the subject,
wherein the increase of business during
the past few years is Complementary
and to some extent analyticaIly dealt
with. This work, the author of which
is Ray Stannard Baker, is called Our
New Prosperity" From IL the follow
ing bits of information are CLEANED:
Between 1897 and 1900 European
banks of issue gained s4,000,000 in gold,
going from 81, 591 200, 900 to 81 ,595 00J, 900.
In the same period the United States
showed a gain from s693, 000, 900 to ST.,
ole, 600 900. The savings-banks statistics
showed that whereas the average indi-
vidual deposit in 1894 was 1896, in 1899
IL was $419 1t 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 $79,749,9 $50. AS it might be
expected, the use of luxuries Increased
among Americans at a tremendously
rapid rate along with the advance OF
good times. A curious instance of this
is seen in Mr.. Bakers investigation of
the piano trade. He found that in the
nm. States 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
900; and in 1899 no less than s12, lis, $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
81. 00O0 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 80, 1899. 7,OOO,OO0 more money or
ders were issued than in the year 1898,
the increased amount coming to $685.
! 900 900. and the average amount per or
/ der had been increased from s. to $40
/ More curious still. reports from vari-
Gus States show that crime everywhere
1 decreased. Take. for instance, the
I
/ For the year ending September 80. 1895,
during the hard times, 927 convicts
were sent to the state penitentiary. In
the year ending September 80. 1899, the
number was only SOC, 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 un-
employed; and there is in consequence
less drunkenness and less tendency TO
crime. Prosperity also brings with ii
feeling of hope, and it is now easier
to earn a living than to steal it.
1t was the Democratic theory -four
years ago that, If home industries were
protected, the import trade would fall
off so rapidly as to leave revenue def
icit and compel the Government tC
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 manufacture!
would both tempt and enable people t.
buy luxuries and that a considerable
part of these good things of life woul,
! 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 were brough
into the United States. The dutie
I were low enough but people lacked tn
money to buy. By virtue of the Ding
ley tariff duties went up upon almos
everything used or consumed in Amer
lea. our industries took a new start an
|, now (for 1890 behold the importation
of diamonds to the value of sl2. lie, 55C
/, Silks. wines. works of art and the lilS
present the same phenomena. 1t is bet
ter to make things dear and give every
body the money to buy than It is t
= make things cheap and withhold tn
D means Of buying. That is the philoso
ply Of the protective tariff in n nut
! shell.