Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1906-05-17
As Seen by AN EnqIishman.

Bell has made special report to MS
government on the way in which this
country is travelling along the bright
road of prosperity. The facts which
he dwells upon are fairly familiar TO
American readers, but their presenta-
tion from British point Of view IS OF
much interest. For instance, he says
that the year 1905 was one of great
activity in trade and industry In the
United States" 1t was indeed ana Mr.
Bells frankly cordial recognition Vi
good times in the states is pleasing.
There has been an abundance Oh
money for Industrial purposes
says; 'the farmers have been prosper
GUS. manufacturing plants have turned
ON, Quantities of products in excess of
any previous years, there mas peeh no
overnroduction, the mileage of rail-
,r.ys h.s steadily increased, issues of
.,,oLs and bonds have been without
precedent. and failures nave been 1e"-
ar in nroportion to the number of firms
in business.
He il impressed by the fact that over
I coo 600 immigrants have been alb
sorbed without affecting the labor
market; that in spite of this enormous
addition to our population, wages have
been maintained; the scale of living
has been high and employment album
dant. He finds that money in circu
lation has increased more rapidly than
the population, the average circulation
on the last day of the year having
stood at $31,73 per capita, the highest
on record. At the same time the stock
of gold in the federal treasury was
the productiveness of American farms,
Mr.. Bell becomes fairly enthusiastic
He says:
when it is stated that the wealth
production on farms in the United
States was estimated at $6.4l5, 600, 900.
it can readily be understood of what
Importance the farmer is as purchaS-
ing agent. OF all the agricultural pro-
ducts in the United States corn or
maize is the most important. 1t
reached its highest production last
year with a crop of 2.70S. 900. 900 bushels.
and total estimated value of $1,2lG.
900 900 Hay was second in order of
value. $G05 900 600; cotton next. $685.. 000,-
900, wheat, sJ25 900. 900; oats, $2S2 000,-
600 potatoes, $13s ,OOO, 900; barley, $751;
OoO, 600; tobacco. s52.OOO,OO0: sugar cane
and sugar beets. s5O,OOOOOO. The ag-
gregate yield of cereals including rice
was 4521 ,000 900 bushels, valued at 81
l2@%, 600. 600. an increase of sl45. 900, 900
over the year previous. During the
last five years the value of the real es-
tate of medium farms has increased
33.5 per cent
Mr. Bell notes that our imports i'm the
calendar year 1905. amounting to ST.
119, 135, 344, exceeded those of 1904 by
S14S 22G ,154, and that the exports of do
nestle merchandise were greater by
$173,672, 401 than in 1904. He is under no
the increase. in imports, and says that
it is accounted for chiefly by the extra
demand for materials to be used in
manufactures Observing that 1.-THE i'm
portation Of luXuries and articles which
are outside the bare necessities of life
is good indication of the prosperity of
a country" he goes on to say that in
1905 more money was spent in this way
than in any previous year.
Considering the enormous exports
in 1908, exports that increased tremen-
dously in spite of the great home trade,
Mr.. Bell says it is not difficult to i'm
agine what will be tire result when the
home demand slackens and when the
manufacturers who have greatly en-
larged their works to meet the extra
demand are obliged to look for extend
ed markets outside the United States
in order to keep their establishments
fully employed. He continues:
"Whcn il is remembered that it is
only by keeping their works running to
the fullest extent and thus keeping
down expenses TO the lowest point that
renders it possible for the majority of
the manufacturers i'm this country to
compete in foreign markets, one can
realize how essential it is that they
find neutral markets where their sur
plus products can be disposed of 50 as
to avoid accumulation of stock"
Mr.. Bell finds no sign of an early les
SEEMING of the present activity. He ex-
poets that prosperity will be as marked
this year as it was last year. He be-
lives that it may possibly be- even more
marked.