The Elbert County tribune., 1905-01-12


the assertion that the total foreign com
merce of the country win exceed that
Of any preceding year.
The figures for the eleven months
ended Nov. 80 put the total exports at
1896. .73s.374. and imports at ss3s.3i5.-
$40. The export figures are about 81.
100000 below those OF the correspond
ing months of last year. about s23.000.-
600 below those OF the corresponding
months OF 1901 and about see. 600. 900
below those OF the corresponding months
of 1900.
When 1t Is remembered however. that
in breadstuffs alone there has been
reduction OF s94. .00O. 600 compared with
the corresponding months Of last year
and OF $4,000. 600 as compared. with the
corresponding months of 1901, the fact
that the figures of 1904 fall but 81 600, 600
below those OF last year will prove an
extremely gratifying one In its evidence
OF the advantageous enect 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 sys-
tens and the ''no-agreement' policy of
employers organizations. In 1903 the
unions were more aggressive.
National Finances.
The United States treasury receipts
for the calendar year 1904 were $780,
900, 900. according to IA review of the de-
partfnents operations given out to-day
by Secretary Shaw. The expenditures
excluding the Panama payment. were
1862 600 000-a deficit for the year Of
s22 600. 600. As compared with the pre-
vious calendar year. the receipts show
a falling of OF IS. 000. 600 and the eSpen-
ditures an Increase OF 500. 900 The
decrease In the receipts is accounted for
by decrease of IS. 100000 in the eas-
toms revenues.
Passenger Traffic on Railroads.
The magnitude of the railway mileage
will be understood when 1t is stated that
the present rails, excluding second track.
sidings. etc. would make. II laid side by
side, sixty-eight or sxty-nine complete
lines reaching across the United States
from the Atlantic to the Pacific ocean.
The vastness OF their transportation is
inconcevable to the people of other
countries. In the fiscal year they car
ried 1000. 100000 passengers. the passen-
ger mileage reaching 2Os95. 900 600 miles
which is equivalent TO saying that II
every inhabitant OF city of 1000, 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 1.306,-
00O. 600 tons the mileage being 71.292,
600, 600. This colossal total was possi-
BILE 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
amounting to approximately 100000.
| 600. But the earth yielded enough for
| the country-and little more-hence
the better prices for the cereal com
| pensated the growers for the lack of a
| 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 inde-
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 n compar-
| atiyely negligible quantity pending har-
| vest timo. Formerly eastern bankers
Supplied the funds with which TO get tn,
crops to market This year the west ant
| south had money to lend whilst farmers
| and planters were sending their stun
/ to market. The agricultural regions moi
only did not need the eastern capitalist
| but they were In the market for securi-
| ties-they bought bonds. some OF then
even purchased the shares of the much.
detested railways that traverse theii
| farms
Farmers Are Now Bondholders.
| The contrast is wonderful. Less thar
| decade ago the southern planter ant
| the western farmer were "mortgaged tt
| their ears" as the phrase in those
| days. Now the people who sc
mortgaged are buying up other peoples
| mortgages-after having acquired more
| land. paid for, spot cash. In the south
| the transformation has been marked
| During the depression from 1890 to 1S9!
| ba MI MI
| through the marketing OF the staple a
| prices below the cost OF production. II
| the last lustrum, owing chiefly to en-.
| hanced prices, the volume of the Output
not materially increasing. the value OF
| the crop has exceeded by $1,000. 600 0O(
that of the five preceding years. The
worth OF this years cotton is put dowI
| at 5000. .000. 900, Notwithstanding the re-
cent slump. The improvement is exhib-
| tied by the statement that whereas II
| 1880 the total value of all agriculture
| products OF the south was 1860. 900 900
| the cotton crop of the last year almost
equaled the latter sum. Even In 1896
! all southern products did not exceed
s773, 900, 900. while at present the wortf
| of those products is about s1,700.0 900.
Failures OF the Year.
| Moreover n quarter OF century age
the south had $21. 100000 invested in cot
ton manufacturing industries. which
| consumed 225, 900 bales annually, while
| now 5000. 00O. 900 Of capital is so invested
| and the consumption Is 100000 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 Qol
/ manufacturers) 1898. against 2.s12 II
1903. though the liabilities were onl,
s55.7S3.137. compared with s66.391,102 {
| year before. Traders made n less credit
able showing. Here the insolvencies were
/ 1903 in number and $66.471.3SS II
amount against 5000 and s5S. S.705.3s6 re.
| spectively last year.
That the aggregate makes a favorable
| comparison with that OF 1903 is not a.
| 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 ths
year. but still contrasted favorably will
| the last quarter of the preceding year