The silver messenger. (Challis, Idaho) 1890-1912, 1905-03-07


Of any preceding year.
The figures for the eleven months
ended Nov. 30 put the total exports at
s1,305, 1884. and imports at 1898, 345,-
$40. The export figures are about 81
100000 below those Of the correspond
ing months Of last year, about $4,000
600 below those Of the corresponding
months Of 1901 and about s26. 000. 600
below those Of the corresponding months
of 1900.
When it is remembered. however. that
in breadstuffs alone there mas been a
reduction Of s94 600. 900 as COMPARED with
the corresponding months Of last year
and Of S17O.000.0 600 as compared with the
corresponding months Of 1901. the fact
that the figures OF 1904 fall but 81 200. 000
below those Of last year viii prove an
extremely gratifying one in its evidence
of the advantageous effect upon our
export trade of diversified production.
Labor.
The year 1904 in the history OF organ
lied labor furnished a contrast with the
twelve months preceding. For the most
part the labor struggles of 1904 were
contests in which the labor unions were
combating wage reductions, the open
shop" the institution of piece-work sys-
TENS and the ''no-agreement" policy of
employers organizations. In 1903 the
unions were more aggressive.
National Finances.
for the calendar year 1904 were $780,
900, 900. according to review Of the de-
partment's operations given out to-day
by Secretary Shaw. The expenditures,
excluding the Panama payment, were
1852. GOO, 000-a deficit for the year of
| s22 600 900. AS compared with the pre-
| yious calendar year. the receipts show
a falling on of IS. OO0, 900 and the expen-
ditures an increase Of $50, 200, 900. The
| decrease in the receipts is accounted for
! by a decrease Of SO, GOO. 900 in the GUS
| toms revenues.
Passenger Traffic on Railroads.
The magnitude of the railway mileage
1 viii be understood when it is stated that
the present rails, excluding second track
sidings. etc. would make, if laid side by
| side, sixty eight or sixty-nine complete
4 lines reaching across the United States
/ from the Atlantic to the Pacific ocean
The vastness Of their transportation is
| inconceivable to the people of other
| countries. In the fiscal year they car
ried 1000 600, GOO passengers, the passen-
| ger mileage reaching 20, S95. 900 600 miles
| which is equivalent to saying that il
| every inhabitant of a city of LOCO 600
| people were to be transported nearly
around the world the passenger move
ment of the American railways would be
! duplicated.
Colossal Freight Business.
| The freight moves aggregated 1906
| 00O, 900 tons. the mileage being III. 292, =
] 000, 600. This colossal total was posi-
I bic despite the drop in breadstuffs ex-
| ports-Which forms an important ele-
ment in the freight of the carriers. The
decrease was almost wholly due to the
! shortage in the wheat yield, the fall-off
| amounting to approximately 500, 000,-
! COO But the earth yielded enouA1 for
| the country-and a little more-hence
the better prices for the cereal COM
/ u -
| bountiful crop. Corn and cotton, how
ever, have much more than Offset the
loss in wheat, obviously shown by the
| plethora of money in the west and in
| the south, for not the least important
| of the years fiscal aspect was the indie
! pendence of the western and southern
bankers during the crop-period move
ment.
West and South independent.
] For the first time in the country S
| financial history the east was a compar-
atively negligible quantity pending har-
| vest time. Formerly eastern bankers
supplied the funds with which to get the
| crops to market. This year the west and
| south had money to lend whilst farmers
| and planters were sending their stuff
| to market. The agricultural regions not
! only did not need the eastern capitalist,
| but they were in the market for secure
| ties-they bought bonds, some OF them
| even purchased the shares of the much
! detested railways that traverse their
| farms.
Farmers Are Now Bondholders.
| The contrast is wonderful. Less than
a decade ago the southern planter and
| the western farmer were "mortgaged to
their ears" as the phrase was in those
| days. Now the people who were so
mortgaged are buying up other people 5
mortgages-after having acquired more
land, paid for, spot cash. In the south
| the transformation has been marked
| During the depression from 1890 TO 1899
| the planters lost annually 800. 900, 600
| through the marketing of the staple at
! prices below the cost of production. In
| the last lustrum, owing chiefly to en-
! HANGED prices, the volume of the output
not materially increasing. the value Of
| the crop has exceeded by 81. O00. 900 600
| that of the five preceding years. The
worth of this years cotton is put down
| at $500, 900. 600. Notwithstanding the re-
cent slump. The improvement is exhib-
| tied by the statement that whereas in
! 1880 the total value of all agricultural
| products of the south was $3.50, 600 600.
| the cotton crop of the last year almost
| equaled the latter sum. Even in 1890
! all southern products did not exceed
| s773. 600. 600, while at present the worth
/ of those products is about S1.700 900.
Failures of the Year.
| Moreover. a quarter of a century ago
the south had s21. OO0. 900 invested in cot
! ton manufacturing industries, which
| consumed 225,000 bales annually, while
now $780, 900, 600 of capital is so invested
and the consumption is 1000, 900 bales
and while the south has expanded in this
wise that section of the country did not
| Swell the total of failures which
| throughout the United States were (for
| manufacturers 1898. against 2,SI2 in
/ 1908, though the liabilities were only
/ s55, 1878 compared with $66 S91, I02 a
/ year before. Traders made a less credit
| able showing. Here the insolvencies were
| 9093 in number and S66 All. 3SS in
amount. against $3.50 and SOS. 7O5. $50 ,re-
| spectively last year.
That the aggregate makes a favorable
| comparison with that of 1908 is not as
! gratifying as the quarterly separation.
| which shows that the returns have i'm
proved as the year advances. Thus, the
| first quarter was much the worst of the
year. but still contrasted favorably with
the last quarter of the preceding year
and the closing three months contained
a much lower commercial death rate
than the same months of 1908. This
means that the depression reached its
climax early in the year and gradually
disappeared, until at the present time
the business situation is sound.
Deaths During the Year.
With war and assassination to assist
him. accident and suicide and illness 10