Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-09-10
was $685.. 425. 400; and $2,os6. 6sa.o42 on

WdS $l,VO1,fd0, f0Vs duu COMMUNICATIVE W
September 1st, 1900.
Our industrial and agricultural con-
dItions are more promising than they
have been for many years; probably
more SO than they have ever been.
Prosperity aDounds everywhere
throughout the republic. ] rejoice that
the Southern as well as the Northern
States are enjoying full share of these
improved national conditions, and that
all are contributing SO largely to our
remarkable industrial development
he money lender receives lower re-
wards for his capital than il it were In
vested in active business. The rates
of interest are lower than they have
ever been in this country, while those
Things which are produced an the farm
and in the workshop, and the labor pro-
ducing them. have advanced in value.
Our foreign trade shows satisfac-
tory and increasing growth. She
amount of our exports for the year
1900 over those OF the exceptionally
prosperous year of 1899 was about half
a million dollars for every day of the
year, and these sums have gone into
the homes and enterprises OF the peo-
pie. There has been an increase or over
500, &C., G0 in the exports of agricui-
tural products; $92, 692,2-s in manufac-
lures and in the products of the mines
OF over S10,000,00O. Our trade balances
fail to give satisfaction TO the people
OF the country. In 1898 we sold abroad
$615, 1855 OF products more than We
bought abroad: in 1899 S529, S74, S13, and
in 1900 $544, All, 701, making during the
three years total balance in our favor
OF 1853, 779 ,190-nearly five times the
balance OF trade in our favor for the
whole period of 10S years from 1890 TO
June 80, 1897, inclusive
-Four hundred and thirty-six million
dollars OF gold have been added to the
gold stock OF the United States since
July list, 1896. The law of March IA,
1900, authorizing the refunding into
two per cent. bonds of that part of the
public debt represented by the three
per cents. due in 1908, the four per
cents. due in 1907 and the five per cents.
due in 1904, aggregatlng $40, 100000.
Mere than one-ihirE of the sum of
these bonds was refunded in the first
three months after the passage of the
act, and on September 1st, the sum had
been Increased more than S33,000,000,
making in all $3.50, 57S, $50, resulting
in net saving of over S8,379,52 The
ordinary receipts of the Government
for the fiscal year 1900 were s79,527,-
O6O in excess of its expenditures.
While our receipts both from Gus
toms and internal revenue have been
greatly increased, our expenditures
have been decreasing. Civil and mis-
cellaneous expenditures for the fiscal
year ending June 80, 1900, were nearly
$l4 900 less than in 1899, while on
the war account there is a decrease of
more than $4,000, 000 There were re-
CURED SS,000,000 less to support the
navy this year than last, and the ex-
penditures on. account of Indians were
nearly two and three-quarter millions
or dollars less than in 1899 The only
two items of increase in the public
expenses of 1900 over 1898 are for pen
slons and interest on the public debt.
For 1899 we expended for pensions
Sl39.394,e29, and for the fiscal year 1900
our payments on this account amount
ed to S140.S77,316. The net increase of
interest on the public debt of 1900 over
roo" iCQHIE GU ny Lie wal IOdU, WIS
$263.40S.25. While Congress authorized
the Government to make war loan of
S4Go, 600 at the beginning of the war
with Spain, only s2,000,000 of bonds
were issued, bearing three per cent. in
terest, which were promptly and patri-
otlcally taken by our citizens.
Unless something unforeseen oc-
ours to reduce our revenues or increase
our expenditures, the Congress, at It's
next session, should reduce taxation
very materially.
Five years ago we were selling gov
eminent bonds bearing as high as five
per cent interest. Now we are redeem
ing them with a bond at par bearing
two per cent interest. We are selling
cur surplus products and lending our
surplus money TO Europe. One result
O. our selling TO ether nations so much
more than we have bought from them
during the pas three years is a radi-
cal Improvement Of our financial rela-
ticas. The great amounts of capital
which have been borrowed of Europe
for our rapid, material development,
have remained a constant drain upon
our resources for interest and divi-
dends and made our money markets
liable tc constant disturbances by calls
for payment or heavy sales of our secu-
rites whenever moneyed stTingency or
panic occurred abroad. We have now
been paying these debts and bringing
home many of our securities and estab-
fishing counIervailing credits abroad
by our loans and placing ourselves up
on sure foundation of financial indie
pendence.
The Beers.
In the unfortunate contest between
Great Britain and the Boer States of
South Africa the United States has
maintained an attitude OF neutrality in
accordance with its well known tradi-
tional policy. 1t did not hesitate. how
ever, when requested by the govern
ments of the South African Republics,
TO exercise its good offices for cessa-
ton OF hostilities. II is observed that
while the South African Republics
made like request of other powers, the
United States is the only one which
complied. The British government de-
clined TO accept the Intervention Of
any power.
The TrHstS.
Combinations of capital which con-
troll the market in commodities neces-
sary to the general use OF the people,
by suppressing natural and ordinary
competition, thus enhancing prices. to