Cameron County press. [volume] (Emporium, Cameron County, Pa.) 1866-1922, 1907-02-14

In the eight years, 1892 to 1899, in
clusive-two of these years being pro-
tective tariff years, and six years COW
ering the free trade tariff period and
the recovery from the effects Of that
tariff-American money orders sent
abroad amounted to $112,5S6,5S5, he
ing an average of $14,072,04S per year.
In the next ensuing seven years of
the full benefits of Dingley tariff pro-
lection, 1900 to 1906, inclusive, the
total of money orders sent abroad
was $249, 9,14S,OS2, the yearly average
being $35,572,7S3.
These are purely postal figures. They
do not include the amounts sent
abroad by express money orders, by
registered letters, or by small drafts
purchased from American banks. 1t
would be safe to say that, all told, the
1906 remittances by American wage
earners to foreigners amounted to full
ly s100,OO0,0OO.
Is not this unique, an extraordin-
ary showing?
Does it not reflect in striking form
the unparalleled position of American
labor?
Does it not bear directly upon the
question whether the wage earnerr
have or have not shared liberans in
the great gains of America1 Industry
in the past ten years % adequate pro-
lection to domestic iaoor?
Does it not- tesld to prove that the
increase alike in the rate of wages
paid ant in the total sum of wages
has lar outrun the increase in the cost
81 living?
Over 63,0OO,000 was sent abroad
through the post office during the year
ending June 80, 1906, by prosperous
Americans of foreign birth or extrac-
ton to their relatives in other lands.
The figures of postal orders issued
in the United States for payment
abroad begin with 1892 That was
what may be termed a normal protec-
ton year. The labor of the country
was well employed under the McKin-
ley tariff of 1890. At the end of June,
1893, the Wilson-Gorman bill had not
yet been enacted Labor had not be-
gun to feel the pinch of tighter times.
So the amount sent abroad went up to
$16,341,S3
Now, note the next year, 1894, after
the force of the panic of 1898, free
trade panic, became visible. Then
there was drop to $13,792, ASS The
next year, 1895, after the mills and
factories had closed their doors to a
million work people, there was fur
ther drop to $12,903,4S This was
low water mark. Wage earners had
less to spare to send abroad.
In 1897 came the Dingley law.
Meanwhile the warehouses and store
shelves had been filled with foreign
goods rushed to the United States at
lowe tariff rates in anticipation of the
higl'or tariff of 1897. Wherefore the
real benefits of the Dingley tariff were
not visible until these supplies were
exhausted, and it was not until 1900
that the first BIZ jump in foreign re-
mittances occurred That year tia
postal orders amounted to $16,749,018.
The sums sent to other countries by
wage earners in the United States in
postal orders increased by leaps and
bounds from 1900 on; In 1901 over
S20,000,000; in 1902, nearly $23,000,-
600; in 1908, over 100000 in 1904,
over $42, 100000; in 1905, over $47,-
100000; and in 1906, over $63 900!
Where did all this money come
from? Not from the savings banks,
for the savings deposits of $1,747,-
961 ,2S0 in 1894 free trade tariff pc
$3,261 ,236, ,119, an increase of almost
100 per cent in the protection period.
Not from the building and loan asso-
citation form of savings, for these show
an almost equivalent increase in 1906
as compared with 1894. Not in dimi-
mutton of what is known as Industrial
or wage earners' life insurance, for
this line of insurance has increased
enormously in the past ten years.
So the 63 and odd millions of dollars
which went abroad last year in postal
orders to foreign relatives must rep
resent clear savings after meeting the
increased cost of living, after swell
ing the savings bank deposits to an
estimated total of $4,000,000000 for
1906 and after investing money in
building and loan associations and in
life insurance.
There is no escape from the conclu-
sion that the wage earners of the
United States are accommodating mon
ey at phenomenal rate in these years
of protection prosperity.