The Republican. [volume] (Oakland, Md.) 1877-current, 1903-07-30
PROSPEROUS YEAR; BRIGHT FUTURE.

PROSPEROUS YEAR; BRIGHT FUTURE.
Another completed fiscal year shows
maintenance of splendid industrial
conditions in both home and foreign
trade. Our continued prosperity has
not only kept consumption of home
made productions at high-water mark
but our importations have also ex-
ceeded those of any previous year.
Under present conditions this great
increase of importations may not dis
place to any extent home production.
As long as we are able to consume
all that we can make at home and all
that we import there may be no need
of legislation tending to che3k this
half billion dollars worth of foreign
goods, which could be made at home
by our own well-paid workingmen.
The fact remains, however, that when
we do revise our tariff law it should
be revised up as well as down. We
are all going to let well enough alone
at present, but it is just as well to
give notice that we need higher du-
ties as well as lower duties when the
time comes for remodling of sched-
uies. @ ASs. 10 ,e-,
Our large importations have re-
suited in increased duties and Gus
toms revenue. Nearly $2S4,OOO,0OO,
the largest amount ever known, has
been collected from customs during
the past year. Our internal revenue
fell off only about $4,000, 900 instead
of the $75,000,000 expected from the
repeal of the war taxes. We have
consequently a surplus exceeding
$50,000,000, and which safely might
be reduced, although it will probably
not be so large in 1904.
Our exports, while not equal to the
largest of any preceding year, have
at the same time been most satisfac-
tory, and we still lead the world in
the total value of the goods sold
abroad. Our balance of trade of over
$500, 100000 is also under the circum-
stances satisfactory, and will more
than liquidate the annual charges
which we have to met abroad.
Although our industrial houses
have increased in number and in
amount of business done throughout
the entire country, yet the record of
failures for the first half of 1908 is
most favorable as compared with
other years. In both number and
liability they have been below the
average, in spite of the increasing
number of concerns and the amount
! of business transacted.
We enter upon a new fiscal year
without cloud in sight in our indus
trial sky, though we have experienced
unsatisfactory conditions of every
kind; we are even now going through
a period accompanied by large and
important strikes in different parts
| of the country, with a considerable fall
ing of prices at the stock market, and
with unfavorable weather conditions
both West and East, and yet bank
clearings and railroad earnings are
equaling or exceeding previous rec
ords every month, and labor is fully
employed at the highest wages ever
known in this or any other country.
The only unsatisfactory condition in
the labor world besides the voluntary
strikes is the fact that our farmers
are having exceedingly hard work
even by offering extraordinary prices
to get the requisite amount of labor
to produce and harvest their crops.
The cry of letting we'll enough
alone is not by any means an idle ut
terance. We are doing well; our pc O.
pie are living well; the whole country
is prosperous, and, best of all, there
is now no sign upon the political sky
that any change can come for several
years at least. So let it be.