The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-06
PROSPERITY SHOWN
By STEEL FIGURES
Good Times Reflected BY Heavy
Deals in Iron Pro S
% # ~ @ ducts. ~,
by w. w. Jermane. Colorado Building,

Washington, D. c. -
Washington, D. c., Nov. 6.-Nothing
else occurring in this day of transcend
ant commercial achievement in the
United States brings home the stun
ming size of American operations as
does the current record of business in
iron and steel.
We are told to look. about us and
observe the manifold signs of an I'M
precedented prosperity, and many of us
are in a position to do so. At least
we can perceive that the. mon from
prosperous. But to get perspective
of some angle Of the situation at large
which will enable us to secure a fairly
accurate gage of what is meant by
national prosperity, nothing will serve
like the figures on some Of the opera
tions of the people who are engaged
In the production of things made out
able, nothing else reveals in that de-
gree of accuracy enjoyed by the gov
ernmental books in which is kept an
account of the exports and imports.
Vast Growth Of Commerce.
Ten years ago the United States
exported and imported a considerable
thereof, and at that time the exports
amounted in cash value to more than
double that of the imports and the
nation was disposed to gloat. But to-
day, while we are importing nearly
twice as much as we did ten years ago,
we are exporting almost twenty times
as much as we did ten years ago. Dur
imported a little more than $16,-
100000 worth Of iron and steel and ex-
ported little more than $34.5OO,O 900.
During the first nine months of 1905
we imported something over $24,OOO,-
600 worth and exported to the colossal
value of $127,189, 673. Small wonder
that we have earned the position of
the greatest exporting nation on earth
when we are becoming the smithy Of
the world at such rate.
Exports Show Big Gain.
Another indication Of the gait at
which we are travelling is shown in
the same figures thru the fact that,
whereas our imports ten years ago con.
and steel products. they now consist in
ever-growing ratio Of the raw ore. In
deed. at the present time nearly half
the United States imports in this line
Of business consists of ore and ,ie
iron, while only two years, ago the raw
material formed only one-eighth of the
total imports. The pig iron comes
the ore from Cuba.
The articles Of exports in which W.
have, made phenomenal gains cover
nearly the whole range Of possibilities
including rails, structural steel, wire
locomotives, sewing machines, electrical
machinery, printing presses, typewrit
ers, builders.' hardware, cash registers
rails and structural materials have
made the greatest gains in the foreign
trade In recent years, and this in spite
OF the fact that the entire Pacific coas
has bought considerable share of it.
rails from Belgium, the water haul en-
abllng the Belgians to compete with IL.
there when they are not able to do SC
not be able to do SO even on the Pa
eltlc coast when the Panama canal i.
completed. .-"f 'rr'.*.'''. 'i' .'-'.S
Plate Imports Fall Off.
In some lines of the metal trade tn,
imports are showing a rapid decline
while the exports are growing phenom
enaliy. Thus, for instance, the import
OF tin plate will soon cease altogether
from present indications, while the ex
ports are increasing by tremendou
leaps: At the same time the import
of pig tin are growing enormously
which, with the foregoing, tells it's owl
story.
To sum up, it is the opinion Of tn
government experts that the iron an
'steel business in the United States wa
never before in SO healthy conditio,
as at the present moment, and most in
teresting fact Of all, it is held that
the Americans get a fair start in tn
.fast-grOwing development of China, tn
iron and steel industry inathis country
marvellous as it is. may still be only /
its infancy. Those who have the wor
OF studying the matter, say China wi
have to have in the not distant futur
more miles Of railroad and more loct
motives and equipment than are now i
use in the United States, which wi
mean the expenditure of billions Q
Chinese money for the things whic
American makers produce faster, and
many respects better, than those of an
other country.