The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1902-01-15
RECORD OF THE PAST YEAR
A Review of the First Twelve Months
Of the Twentieth Century.
PROGRESS OF THE UNITED STATES

q
Dur County Assumes q Leading Position
Among the Great Industrial Nations -
Some of the Principal Events That Have
Occurred In America and Elsewhere -
Notable Persons Who Have Died.
Washington, D. C-The first year of
the twentieth century has closed with
q remarkable record to its credit Vast
changes have been wrought, political
ly and industrially, in all parts of the
world. Every department OF human
Interest has felt the impulse of the
opening century, and the year has
been one Of losses and Of gains, Of
fulhlments and of promises.
The United States has enjoyed un-
precedented prosperity. This country
has assumed leading position among
The great nations. Its export trade
has reached astounding figures, while
foreign manufacturers have taken
alarm at the Increasing proportions OF
the so-called American invasion OF Eu-
rope. The general prosperity Of the
country Is reflected in the unexampled
condition Of the National Treasury.
"For the calendar year." said Secre-
tary. Gage, I'VE show receipts In ex7
cess Of the ordinary expenditures
amounting roundly to SlO0,OO0,OOo.
Such an excess might have resulted
In serious embarrassment had not the
department been able by means OF
this surplus to reduce the public dept
in large amounts. The available cash
on hand, therefore, is only about $780,
100000 larger than the amount held q
year ago. There has been q very ma
ferial increase in the volume Of money
In circulation as well as in the amount
per CAPITA" The volume Is now ST.
25O, 1856, ,230, and the amount per capita,
S2S.73.
The mill, the loom and the forge have
been taxed to supply the domestic and
foreign demands for their products.
The excessive drought Of the summer
disastrously affected the corn crop,
but this misfortune has been largely
counteracted by the unusually high
prices which have, prevailed for agri-
cultural commodities. The year has
been marked by an unprecedented vol
ume of business and enhancement Of
values in the realm Of finance and spec
ulation, The value Of industrial secur-
.ities which have been authorized or
created during the calendar year
amount to nearly 100000 900. The
Wall street panic Of last May, while
Il wiped out many speculative fortunes,
did not destroy single foot OF rail-
way or dollars worth Of real prop
erty. Soon after gigantic combina-
lion of the railroads Of the Northwest,
with capitalization Of $400,00O,OOO
was formed, and harmony was effected
among the interests whose clash pre-
cipitated the panic. 49,.
: The railroads Of the country have ex-
perienced an unusually prosperous
year. A serious shortage Of cars has
lmpeded the delivery Of freight, and
has temporarily crippled many indus
tries. Railroad building in the United
States has been greater during 1901
than for any year Tor eleven years pre-
vious, the total approximating 5057
miles Of line. The construction for
the year, added to the total mileage
previous, brings the total Of the coun-
try to approximately 199,370 miles.
Among the principal events Of the
year Of interest to the American people
are the taking Of the oath Of allegiance
to the United States upon the part of
$4,000 Filipinos in 1loilo Province, the
Inauguration of President Mckinley
and Vice President Roosevelt, the cap.
ture Of Aguinaldo by Brigadier-General
Frederick Funston, the establishment
Of civil government in the Philippines,
the holding Of the Pan-American EX-
position at Buffalo, the opening Of the
Indian reservations in Oklahoma for
settlement, the assassination of Presi-
dent Mckinley at Buffalo and the sue
cession Of Vice-President Roosevelt as
President Of the United States, the
defeat by the yacht Columbia Of Sir
Thomas Lipton's yacht Shamrock II.
in the contest for the Americas Cup,
the successful test under water Of the
Holland submarine boat, which re-
manned submerged for fifteen hours,
the announcement of Signor Marconi
that he had received wireless tele-
graphy at Halifax, n. S., message
from Cornwall, England; Andrew Car
.negie's offer of $1OO0O.s0 for the en-
,dowment of q National University at
Washington; Mrs. Leland Stanford's
gift of $30,O00,000 to the Stanford Uni
versity Of California, the ratification Of
the Nicaragua Canal Treaty with Great
Britain by the United States Senate,
and the taking of the first practical
steps toward an isthmian canal and
Pacific cable.
Important events have transpired in
other portions of the world during the
past year. Great Britain has been
busy with the South African war, with
Irish agitation and with grave fiscal
problems; France has expelled the re-
ligious orders; Germany has expert
enced the greatest industrial depres-
sion in her history; Austria-Hungary
has returned to the field Of racial and
lingual feud; Russia has finished her
Siberian Railroad and fallen beneath
the sway Of an appalling famine; Japan
has given fresh proof of her astounding
powers Of progress; China has been
forced into new relationships with the
outer world; Crete has attained the
desire of ages, the practical annexation
to Greece; and the South American
States have maintained their propen-
stiles for pickering and fighting. In
Was Insured For 81 100000.
Frank H. Peavey, the grain elevator
king Of NIinneaDolis. Mimi, Is dead.