Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1902-08-13

| ouo No'NihS ehN sNal l5uu SuOW III
every state of the Union thus far emu
merated not only an increase in tn,
general rate of wages. but a yer.
much larger increase in the gross
sum of wages paid out. That is 4
say. that while the per capita rate o
wages has undoubtedly increased u
the period of prosperity brought abou
by the protection, the gross sum o
employment has enormously in
creased"
National Finances.
have shown what protection has
done for agriculture and manufac
lures. for our railroads and our for
eign commerce. | now want to note
its effect upon our national debt ant
finance. From the last report of the
secretary of the treasury | quote the
following:
ION April 1, 1898, the interest.bear
ing debt of the United States was
SS74,S66,6S0. Incidental to the war
with Spain the debt was increased
so that on November 1. 1899, its high,
est point, the amount stood at sI,Oi6.,
0i9,O20. Two years later, on Novem.
ber, 10. 1901. the debt stood at 1854.
027.l50, showing a reduction OF s92,
02i,S7O.
This statement covers only the
face amount of the debt. Interest Is
as much part of the debt as 1t Is
the principal. and this feature of the
debt has been anticipated and paid
to an amount nearly as great as has
been the reduction OF the principal.
By the application of s43.5S2. .OO4 Of
the public moneys. interest to the
amount of $54,54s,424. which would
otherwise have been a charge against
the treasury during the next seven
years. has been paid, so that. broadly
speaking. the public debt within two
years has been reduced by the sum
of sl46.57O. .294."
But this by no means tells the
whole story. The cash fund In the
treasury has risen from 1926. .166. .944
on April 1, 1S9s.to over s35O,OOO. 900
today. In a single year the annual
interest charge has been reduced
from s40.347,SS4 to $2S,471, ,22S, and
yet Mr.. Cleveland. in times of peace
but also of low tariff, had to borrow
s262. 100000. and the bonds he sold
bore and per cent interest. Dur
ing the past year or two much Of our
debt has been refunded on two per
cent basis. and today Uncle Sans
credit is such tina, he could borrow
billion at 2 per cent.
But Uncle Sam Is not borrowing in
protection times. He is buying his
own bonds, canceling his debt, and
reducing his interest charges.
Astounding Statistics.
American financial and commercial
statistics are today the wonder of the
world. Our wealth of sl0O,000,000, or
s1,250 per capita; our net debt of less
than 1000, 100000, or only $3.50 per
capita; our savings bank and loan
association deposits OF $4,000, 600, 900,
our national bank deposits OF $1,000
100000 more; our life insurance OF
s13 900 100000; our annual fire in.
surance risks Of s20,000,000, 900; our
bank clearings of 100000. .00O. 900;
our manufactures of $4,000, 900. 600;
our agricultural returns Of $4,000, 900.
900; our favorable balance of trade
of s600,000,000; our government re.
celpts of s7OO,OO0,cOO and expendi.
lures of s60O,OOO,OO0; our treasury
fund OF s350,OOO,OO0; our more than
81 900. .000. 900 Of money in circulation;
our sl50,0O0.O00 tcoining value) pro-
duct of gold and silver; our sl,5OO,.
10000 railroad earnings. and, great.
est OF all, our actual turnover in
trade, transportation and
general business of more than $50.
900 ,000-these are figures to astonish
the world.
These are remarkable figures for
one of the youngest nations of the
earth. What they will be in another
century or even In another generation
cannot even be estimated. With re-
habilitated American merchant ma.
rine. an isthmain canal, continued
protection. peace, and prosperity the
future must hold even more wonder
fulresults for the United States than
any that have transpired.
How We Compare With the Rest Of
the World.
Our progress under the DINGHY tar.
If has been such that we no longer
compare the United States with 9th
er nations. but with all the rest OF the
world combined. With less than ,
per cent OF the population and 7 per
cent of the area, we are. nevertheless,
about equal industrially to half of the
remainder OF mankind.
We have one-third as much wealth
as all the rest Of the world, onethir !
as much gold, one-fifth as much sill.
yer, onetenth as many sheep. one
third as many cows. as much forest
area, two-thirds the railroad milage,