The Paducah sun. [volume] (Paducah, Ky.) 1898-1906, 1902-10-01
GREAT PROSPERITY
Commercial Conditions in This Coun-
try are Very Good.
British Interests Do Not Fear Compe-
tition in the Iron and Steel
Industry.
SOUTH VERY PROSPEROUS

Commercial conditions IN the Unit
ed States are now the subject of very
close attention by the financial and
commercial journals of Europe. A
copy OF the London Financier," just
received by the treasury bureau of sta
tistics, discusses in great detail com
mercial and manufacturing conditions
in the United States and their bearing
upon the manufacturers and commerce
of Europe, and especially of Great
Britain. Commenting upon the reduc-
tion in exports during the last fiscal
year, 1t says:
"This large decrease is chiefly ow-
ing to the partial failure Of the Indian
corn crop last year, and partly owing
to the decrease in the value of iron and
steel goods exported. The exports Of
all kinds of iron and steel, with the
exception of iron ore, amounted last
year to s117,919,S20. This last year,
1902, they amounted to only $685..
$50, 500, showing q falling off of $751;
766, 1858.
Notwithstanding the enormous de-
mand for iron and steel prices have
been kept at reasonable level. This
has been largely due to the United
States Steel corporation, who firmly
refused to raise their prices unduly.
This policy has, doubtless, caused a
prolongation of the period Of great ac-
tiyity, by encouraging greater con-
sumption. AS long as the United
States continues in its present prosper
Gus condition, absorbing all il call pro-
duce in the way of iron and steel,
British manufacturers need not fear
serious competition. But this pros
perity cannot last indefinitely. The
home demand must fall of to a great
err or lesser extent when, owing to the
present increase of output all over the
country, we shall probably see an
overproduction exceeding anything
hitherto experienced. Preparations
are being made to meet this contingent
cy, so that when supply greatly ex-
ceeds demand in America everything
will be in readiness to carry the sur
plus to Europe and other countries
more economically than ever before
British manufacturers should, there.
fore, put their houses in order mean
while.
"While the whole county is in
condition Of great prosperity, perhaps
it is more noticeable. compsrati vely
speaking, in the south than in any
other part. Not that the southern
states are really more prosperous than
the northern, but the contrast is so
much greater than what was = few
years ago. The increase in exports
and imports in the principal southern
ports in the last two years is a refiec-
ton of the growth in commerce and
trade. Railway travelling has been
very much improved and the railway
companies are assisting the farmers and
manufacturers, knowing that their
profits depend upon the resources Of
the south and as = consequence no
effort is being spared to encourage
the development Of the industries
along the various lines. The develop
ment Of the oil industry has done won
ders for some Of the states. Not only
has 1t brought immense sums Of mon
ey but the low cost of oil has caused
1t to be used as fuel on steamships, To-
comotives, etc. reducing costs of man
ufacture and transport to no inconsid-
cradle extent.