The Washington times., 1903-01-01

make up deficit by importatious. This
is notably true OF Iron and steel manu-
features.
The exact figures for the foreign COM
merce Of the year will not be available
until late in January. but, taking the
figures for the first eleven months and
estimating those for December. It Is
shown that the total exports for the
year viii be about 81 $40, 600 600, and the
imports Will be about $3.50, 600. 900 The
total value of exports is larger than
for any previous year, except 1900 and
1901, but is about S125. DOC. 900 less than
last year The imports. which are about
$40 100000 greater than last year, ex-
coed those of any year in the history CT
the country.
Demand for Manufactures.
American manufacturers have not been
able to supply the demands for goods
made in this country, which is partly
the reason for this wonderful increase
In imports. The increase is also partly
due to the fact that the general pros
perity has greatly increased the con
sumtng power Of the country, and has
led to the Importation OF larger guam
titles Of Iuxuries of foreign manufacture.
It seems there is an inevitable tendency
whenever a nation obtains great ac-
cretions Of wealth to Increase purchases
abroad.
The principal falling of IN the exports
Of the country has been in bread stuffs
Of which Europe annually takes ali that
the United States can spare. The home
consumption consequent on the general
employment OF labor in this country.
and the ability Of the people to buy and
consume larger quantities than in times
Of less prosperity has been responsible
largely for this lack Of such foods for
the foreign market. The short corn
crop Of last year. which reduced the ex-
ports Of corn by nearly 100, 900 ,000
bushels. worth about $50. COG, 600, and
also the fact that the exports Of wheat
for 1901 were abnormally large and those
Of the past year were about normal is
another reason for this decrease, The
net result Is that the exports Of farm
products OF all kinds for the year 1902
fall more than s125. 600, 900 below the
figures for 1901.
Banks Keep Pace.
Banks Of the United States have kept
apace with the general prosperity Of
the country and these institutions show
a great increase Of wealth The latest
figures obtainable IN the office of the
Comptroller Of the Currency show the
great expansion Of the banking business
in ten years from 1892 to 1902.
In 1892 the banks of all kinds in the
United States had loans outstanding
amounting to 81 ,337. 900 600, and in 1902
this item was $7,169 900, GOO. an increase
OF s., 1872, 600 600 The cash on hand in
1892 was 1886 900 900. and in 1902 it was
S839 600 900, an increase of 1853. 000, 600.
There was due to the banks from the
other banks and bankers in 1892 1854,
600 900. which was increased in 1902 to
81. 552 900 Goo or an increase of $685.
900 900. The capital engaged in banking
in 1892 was $1.071 900 600, and in 1902 it /
was s1.19s. 900 900, in increase of s127,- !
100000. The individual deposits amount
ed in 1892 to 81. Sos 600 900, and in 1902 /
this had increased to the enormous sum /
Of 50 ,082, 900 600, or an increase of $4,417,-
200 600 showing d growth of nearly 100 |
per cent in ten years.
Savings Institutions
The statistics of savings banks are in
eresting as showing the degree OF pros
7erity existing among persons Of mode
ate means In 1901, according to the