The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-10-18
AMERICAN COMMERCE.

the Treasury Bureau of Statistics, dis
\ cusses in great detail commercial and
/ manufacturing conditions in the United
States and their bearing upon the man
ufactures and commerce of Europe,
and especially of Great Britain. Com
menting upon the reduction in exports
during the last fiscal years, it says:
This large decrease is chiefly owing
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 ex-
ception of iron ore, amounted last year
to S117,3 800. This last year Q902)
| they amounted to only s9S.552, $50, show
ing a falling off of s1S,766,75S.
THE shortage of certain iron and
steel goods in proportion to the demand
| is chiefly due to the great prosperity of
| the railways. 1t is estimated by steel
rail manufacturers that the railways
will require at least 100000 tons of
steel rails for the year ending June 80,
| 1903. Orders for 100000 tons have al
ready been given. 1t is said that 1885,
600 tons of the 1000, 900 tons will be re-
quired for renewals, the remainder be-
| Ing used for extensions. Another great
factor in the iron and steel trade is
the agricultural implement industry. A
third is the unprecedented demand for
steel in the building of dwellings and
factories. The total imports of iron
and steel goods amounted to $27, 180,247,
as compared with s17,S74,7 in 1901, an
increase of $9,305, 45S This increase is
general throughout the whole list of
articles, but is largest as regards raw
and semi manufactured material. Not
withstanding the enormous demand for
iron and steel prices have been kept at
unreasonable level. This has been large
ly due to the United States Steel Cor
poration, who firmly refused to raise
their prices unduly. This policy has,
doubtless, caused a prolongation of the
period of great activity, by encourag-
ing greater consumption. AS long as
the United States continues in its pres
ent prosperous condition, absorbing all
it can produce in the way of iron and
steel, British manufacturers need not
fear serious competition. But this
prosperity cannot last indefinitely. The
home demand must fall off to a greater
op lesser extent when, owing to the
present increase of output all over the
country, we shall probably see an over
production exceeding anything hitherto
experienced. Preparations are being
made to meet this contingency SO that
when supply greatly exceeds demand in
America everything will be in readi
ress to carry the surplus to Europe and
other countries more economically than
ever before. British manufacturers
should, therefore, put their houses in
order meanwhile.
"A notable feature of the imports is
the large proportion of manufacturers
materials, as compared with what may
be considered as Injuries. Thus, raw
cotton, silk, wool, fibers, tobacco, hides,
rubber, tin, copper and chemicals form
the bulk of the importations of raw
materials for use in manufacturing. In
nearly all of these a comparison of the
quantities and value of the importa-
\ A
years shows that the increase in guam
tity is greater than the increase in val
ue.
While the whole country is in a con-
dtion of great prosperity, perhaps, it
is more noticeable, comparatively
speaking in the South than in any 9TH
are really more prosperous than the
Northern, but the contrast is so much
greater than what it was a few years
ago The increase in exports and i'm
ports in the principal Southern ports
in the last two years is a reflection of
the growth in commerce and trade.
improved, and the railway companies
are assisting the farmers and manu-
facturers, knowing that their profits
depend upon the resources of the South,
and as a consequence no effort is being
spared to encourage the development
Of the industries along the various
lines. The development of the oil in
dustry has done wonders for some of
the States. Not only has it brought
immense sums of money. but the low
cost of oil has caused it to be used as
fuel on steamships, locomotives, etc,
reducing costs of manufacture and
transport to no inconsiderable extent"
--$--
The eighth anniversary of the estab
hshment Of the Salvation Army in
| these islands is about to be observed
by reunion of the corps. The work
of the army has been thorough and its
benefits are widespread No one en-
tertains doubt whatever difference of
opinion there may have been originally,