The Bellefontaine Republican. [volume] (Bellefontaine, Logan County, Ohio) 1855-1905, 1900-07-17
AN UNPARALLELED YEAR.
Trade Gives . Splendid Demonstra-
tiOn of Republican Success.

Trade Gives q Splendid Demonstra-
tiOn Of Republican Success.
Washington, June 30. L. Spauld-
ing, Assistant Secretary of the Treas
ury, in..charge of the customs and navi-
cation branches of the Department and
of matters directly relating to domestic
and foreign commerce, states that the
fiscal year ending June 30 will be un-
according to Departmentre-
ports, in its evidences of the country's
growth and prosperity.
81 have been examining" says Cen
eral Spaulding, "with care the returns
from collectors of customs already re-
ceived and making some estimates of
the returns for the rest of June, which
will close the fiscal year. While every
one from his own experience knows
that the last four years have been sue
cessful from q business point of view, 1
doubt If the magnitude Of our trade is
fully appreciated. Our exports and inn
ports of merchandise beginning with
the year 1897 have each year shown
steady increase, and they have this
year, for the time, crossed the s2,000,-
900, 900 line. For the four years nearly
ended they will exceed s7,25O, ,000, 900.
"What is most gratifying is that
these enormous figures stand for indus
trial 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 in
dustries, show surprising advances.
Our total tonnage at the end of June
will be up to the five million ton mark
for the first time since 1855. During
the last !S1r years we shall have added
], ESQ, 900 tons to our shipping, compared
with only TAO, 900 tons for the previous
four years, and If the returns for eleven
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
small share of our foreign carrying
trade, but the wisdom Of our coasting
trade policy is abundantly proved.
"The contrast between our industrial
conditions for several years before
March 4, 1897, and for the. years Of
President McKinley's Administration
is splendid demonstration of the sue
cess of Republican rule. A sound cur
rency and stable and properly adjust
ed tariff are essential to the country's
welfare. The Democratic party proved
its incapacity to deal with either sub
ject. Every days returns to the Treas
ury testify to the wisdom of the Tariff
act Of 1897 and the Currency act Of
1900. Those two measures are of meal
culable benefit to American commerce,
as well as to manufactures and agri-
culture. The establishment of the
gold standard has 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
LOT communication with the United
States the island ever enjoyed, and op-
portunities for trade which will prove
i lreciprocally beneficial have been cre-
ateds The establishment of the Terri
torial government on June Ia will stim-
ulate trade with Hawaii and the gold
boom in Alaska is sure to be followed
by the steady development of the re-
sources of that Territory.
s'The present Administration found
the home market invaded and domestic
industries prostrate. 1t has more than
fulfilled its promise to secure the home
market to home producers; it has OBJ
tanned q larger share of foreign mar
4 kets than we ever possessed, and it has
sought out and improved every oppor-
tunity to secure the future of our ex-
! lport trade"