Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-03-05


/ the act creating the department ex-
! pressly provides that It Is gathered tor
the purpose OF enabling the President
! 10 make recommendations 90 Congress
/ for needed legislation. such .niorma-
! ton VIII be- necessarily confidential KS
far as the department Of commerce AMI
| labor ~ concerned II VIII BE- galhc. cd
in the public Interest but none OF 4
can be published except at the eXp.e $
! direction " the president
But, MIR. Cortciyuu, many people
| look upon your department az the
watchdog Of the investor and stock.
| HOLDER" said /.
Congress did not specify any c'a3s
! as one IN whose interest the bureau
! Is creatcd-whOse watchdog II shall be,
Its duties are plainly defined, and will
/ be performed with lmpartIaiity, with
| out regard TO special interests, and for
/ the benefit Of the whole public"
VIII u not make our financial con-
ditions more stab:e?' | asked.
/ Yes, replied Secy. COrtelyou. ~
/ think there Ia no doubt but that the
/ work OF the bureau Of corpo atoms win
/ have a steadying Influence on financial
I conditions, Ii will disseminate actual
| knowledge Of genClal coruor9to affars
! and this viii largely eliminate the fear
/ and uncertainty which are 50 JiIen dis
! turblng factors In the financial and in
dustrial world"
OUR COMMERCIAL INVASION.
The conversation here turned to COM
merclai matters. and asked Secy. Cor
| telyou to tel me something about our
business abroad. lie replied:
our foreign trade Is In very salts
Factory condition We exported more
goods last year than during any pre-.
ceding year in our history. our exports
70 Europe We're 800 100000 greater than
IN 1902 and 90 per cent IN excess OF those
| OF a decade ago We have incre ased
our exports to different countries Of
North America 80 per cent, and in
South America We sold last year IS per
cent more goods than we did the year
before. TO Asia and Oceania our ex-
ports have trebled in the last 10 years,
and to Africa they have become five
times as great our imports are also
| Increasing although not so rapidly.
than In any preceding year Indeed in
1903 the imports amounted to nearly
81 900, O0O 0OO.'
But increased imports mean money
going out Of the country, Mr.. Cortel-
you, said |, THAT u.s. money thrown
away"
u don't think so, was the reply. 1T
shows that the country Is prosperous
and that business is good About one
half Of the total imports consists of
manufacturers materials and a large
part Of the balance is composed of food
stuffs and articles which we do moi pro.
duce az home, Much Of the manufac-
turers' materials 90 abroad again in
another shape, and these materials
last year amounted TO $3.50 900 900. which
Is an increase of almost per cent over
similar imports in 1893. That indicates
the enormous increase In our manu-.
featuring industries within the past 10
years"
WE LEAD THE WORLD.
How does the growth Of our trade
compare with that of other nations Mr.
Cortelyou?" | asked.
Very fayorably, indeed" was the re.
ply our exports OF domestic products
are greater today than those OF any
other country, and our exports are
growing more rapidly than those OF any
other nation In 1857 we shipped
abroad IN round numbers four hun.
dred and nlnety-seyen million dollars
worth of goods, and in 1903 the sum
had grown to one thousand four hun.
dred and fifty-seyen million dollars. In
1875 the united kingdom exported one
thousand and elPhty-seven million dol
lars worth Of goods while IN 1903 its
exports were one thousand four hum
dred and fifteen Millions dollars worth.
In other words, in that time we in
creased our exports almost 300 per cent,
while those of the united kingdom I'm.
creased less than 40 per cent, In 1915
our export trade was not half as great
as that Of Great Britain and Ireland.
In 1903 we exceeded the latter country
by forty million dollars worth Of ex-
ports. Germany In 1875 had an export
trade Of ninety-six million dollars in
excess Of that Of the United States In
1908 II was more than two hundred and
fifty million dollars behind the United
States. The united kingdom and Ger
many are next to the United States,
the largest Of the exporting nations.
SO you see how we grow"
OUR BEST CUSTOMERS.
who are our best customers among
the nations, Mr.. Secretary ] asked
1.-The united Kingdom by far was
the reply 1T takes more of our exports
than any other country. although Ger
many and Canada take a great deal