Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1908-05-08

our internal commerce. BY Internal
commerce / mean the business that we
do among ourselves in our States and
Territories. / mean the free and unrn-
strcted trade on railroad and river On
the Lakes and the Gulf, and along our
seaboard, in and between forty-six
great commemorative and our outlying
possessions. That commerce Is est-
mated to equal the enormous sum of
$40, 900 900, 600, and that is double the
| aggregate of foreign commerce of all
the other nations Of the world besides
| Think of it. If we bought and sold not
| a dollars worth outside of our own do
main. we would still he doing a business
beside which the aggregate foreign
trade Of Germany and France and
Great Britain, of Russia, China and
Japan would measure up only one.
half.
We hear great deal about the neces-
sity for foreign trade, the desirability
of conouering foreign markets, and [
would not belittle that necessity nor
deny that desrability; but let us never
forget that the greatest market in the
world, the most desirable, that most
essential to our well-being and ad-
vance and to our independence, is the
great, unequaled American home mar
ket Applause on the Republican
side.] And let US not forget either that
the policy which has furnished to us
and preserved that market is the policy
that plants the factory beside the farm,
the policy that protects every home in
dustry [Applause on the Republican
side.]
In considering our internal COM
| merce let it be remembered that we
have more money in circulation than
we ever had before. In the last five
years it has increased more than sever
hundred and thirty-eight millions of
dollars. We have more national-bank
capital than we ever had before. In
| the last five years It has increased over
$1S7 100000.
Our people have more money in saw
ings banks than they ever had before
Savings-bank deposits have increased
in the last five years over $si2, 100000
[applause], and the total of Our bank
deposits of every kind has increased
three billion eight hundred and seventy
millions. We have an available cash
balance in the Treasury of over $780,
100000. [Applause.1
Now, how about the other branches
| OF our CDnlN1eTce--Our IoTelSn TRADE.
Last year our exports and imports,
for the first time in our history, reach
I'd the astounding figures of $4,000. QUO
| Three billions of dollars. And that is
three hundred and thirty-four millions
| more than the total of our exports and
imports of the preceding year. 1t is
about one and third billions more
than during the best year of the Cleve-
| Al, ,it.tr ion f1,n ftr,St
year of that Administration the balance
of trade was against us nearly $4,000
| U01
| Last year the balance of trade in our
favor was over s517 100000
| During the last ten years of Republic
can Administration the balance of
trade in our favor equals ten times the
aggregate balances of trade of all the
years from George Washington to
Theodore Roosevelt. Applause On the
| Republican side.
1t is only within the last few years
that we have become to any large ex-
| tent exporters of manufactures, and
| vet last year these exports reached the
sum of 5000 200, 900. And that was an
increase over the preceding year of
nearly S60,000,G00.
Agricultural exports increased more
than twice that much, or over $14S 600
900. Together, year by year, they grow.
the exports of manufactures and of
agriculture. The one aids the other.
| New factories make new markets and
new markets develop new farms. and
| the protective policy of the Republican
party nourishes both. Applause on
| the Republican side.]
| And in this connection let me impress
on you this important fact, that we are
now the first of exporting nations. In
| 1865 fou. great nations were struggling
| for the worlds export trade-Great
| Britain. France, Germany and the
| United States. Great Britain stood
| first and the United States stood
| fourth. In 1856 Great Britain stood first
and the United States stood third. In
| 1895 Great Britain stood first and the
! United States stood second. In 1895,
under Republican administration, the
United States marched past Great Brit
ain and took her place as first in rank.
Applause on the Republican side.l
And while it is true that only the
comparatively insignificant amount of
5 per cent of our total production is
exported, it is also true that we are
year by year making further inroads
llllf TIE DldTkelS, tiit
there are few places into which Ameri-
can enterprise has not penetrated. We
are selling our products in Canada, In
| Germany, in France, in Great Britain,
in Russia, and in the Far East.
Under the operation of the protective
policy we have grown to be the great
est of manufacturing nations. Zap
plauSe.]
Let me show you what strides we
have been making. In 1890 we had in
vested in this country in manufactures
six billion five hundred and twenty
millions and upward of capital; last
year. only seventeen years later. We
had invested over thirteen billions, or
nearly twice as much, an astonishing
growth in seventeen years.
In 1890 the value of our output OF
manufactures was over $9,000000.o";
last year it was nearly $15,00O,OOo,oo.
tIx1v