New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-09-29
4 BRITISH SUMMING UP.
''THE FINANCIERS" VIEW OF AMERICAN
PROSPERITY.

a-rHE FINANCIER's" VIEW OF AMERICAN
PROSPERITY.
Washington. Sept. % CSpeciaD.-Commercial con-
titions in the United States the subject
of very close attention by the financial and COM
rnerclal journals of Europe. 4 copy Of the London
''Financier' just received by the Treasury Bureau
Of Statistics discusses in great detail commercial
and manufacturing conditions in the United States
and their bearing upon the manufactures and COM
merce OF Europe, and especially Of Great Britain.
Commenting upon the reduction in exports during
the last fiscal year, it says:
This large decrease chiefly owing to the partial
failure of the Indian crop last year, and partly
owing to the decrease in the value Of iron and steel
ad steel with TIE o exception Of iron ore
amounted 10 only SOS 552 So. showing falling of
Of slS,7e6.75s.
poPorto1 the chiefly due sss to feT Great
Isesperl1y OF me TaiEays 1t is estimated by steel
at least 600 tons of steel rails for the year end
already been given 1t is said that 10000 tons of
ths ze.ee1 tons will be required for renewals, the
factor in the and steel trade is the agricultural
an fer es n the 's sdin Is f6s s Wss
factories The total imports of iron and steel goods
in 1891 an increase Of So Ss.45s This increase is
IS largest IS regards raw and serni-rnan ciured
material Notwithstanding the enormous demand
.onsbie level This has been largely due "a the
- rsis. their rTies natiII ;s noI, has S
less caused q prolongation of the period Of great
oar g ~ ss Continues IN s A
prosperous condition, absorbing ali II can produce
in the way OF iron and steel British
need not fear serious competition But this Iros-
perIty cannot last Indefinitely. The home demand
must fall off 10 greater or lesser extent when
owing to the present increase of output an over
the country. shall probably an overproduc-
ton exceeding anything hitherto experienced Prep
sratsons being made TO meet this contingency
a. ms shs VIII Be in To IN
-he surplus 10 Europe and other countries more
economically than ever before British manufact-
urers should, therefore, put their houses in order
A notabie feature the imports is the large mo-
norton of manufacturers materials,
with what NAV be considered lu1uries. Thus
raw cotton silk wool fbres. tobacco. hides rubber
IN conner and Chemicals form the bulk Of the
import ations of raw materials for use in manu-
featuring in nearly all OF these a comparison Of
The Quantities and value OF the importations OF
7ooq with those of preceding years shows that the
Increase In quantity Is greater IMAM the increase in
While the whole country is in condition Of great
s~os1ertty perhaps il is noticeable, compare
svely eea king in the South than in any other part
Sof that the Southern States are really pros
nervous than the Northern but the contrast is so
muck greater than what IL was few years ago.
The increase in exports anc imports IN the principal
Southern porfs in the last two years Is reflection
~ the growth in commerce and trade Railway
travelling has been very much improved and the
rsflvay Companies assisting the farmers and
manufacturers, knowing that thelr pronts depend
oi,erce no effort Is being spared 10 encourage the
6evxIonr1euY o. the industries along the various
lfnss The DEVELOPMENT OF the oil Industry has done
wonders for some OF the States Not only has u
bros9hY immense sums Of money, but the low cost
Of al has CAUSED IL be used as fuel or steam
ships locomotives, etc, reducing costs OF manu-
<acfure and transport :" no tnconsidsrabe extent