Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1912-12-31
Annual Situation as
Viewed From Gotham


ord -breaking foreign trade, unprece-
dented activity i'm the iron trade AMI
a further continuation of real estate
activity. The value of our crops this
year a estimated at $500, 000, 900,
compared with $S,4O0, 900, 900 a year
ago. Comparisons in values should
always be accepted with reservation,
quantities being a much safer stand
ard of measurement, Nevertheless,
all OF our principal crops showed Il
large increase, except cotton and cat.
tie. Our meat supply Is still INSULT
Client, exports having entirely ceased.
Our cotton crop, though smaller than
last year, was still very large. In
both cattle and cotton the years prod
net in money values was much great
or than a year ago. Our foreign trade
surpassed all records. imports approx
imating s. ,SO0,000, 900, Or about $780,
900, 900 in excess OF last year, while
exports are estimated at $4,000, 000,-
900, or about $500, 100000 in excess of
last year. The excess OF exports over
imports for 1912 will be about $685.
000, 900, compared with $685., 900 900 in
1908. and $649, 900. 900 in 1900, the pre-.
vious high record years. The in
crease in imports wa largely in raw
materials, while in exports the exlan-
sion was mainly III cotsco, grain and
manufactures. Activity in the iron
trade has been simply marvellous. our
plants having been operated during q
considerable portion eff the year at
fully 50 per cent of theic capacity.
Our total pig iron output reached 29,.
000, 900 tons, compared with 23 0t0, 900
tons a year ago, We are producing
mere pig iron than Great Britain and
Germany combined; their total out
put this year being estimated at
about 2 1900, 900 tons. The worlds
output is estimated at 74,000,000 tons,
so that we have now turned out more
than one.third of THE worlds product.
While the railroads were heavy buy
ers, demand from other sources was
also unusually heavy. Our export
trade showed astonishing develop
ment, being valued at about $3.50, 00O,-
900 for the past twelve months, a
record never before approached. The
Doom i'm real estate is still uncheck.
ed, and is Illustrated by the fact that
in eleven months the aggregate OF
new building i'm the United States
was estimated at owe $S47, 100000,
compared with $500, 900, 900 for twelve
months of 1909, the previous heaviest
year on record. A good indication OF
the years business activity is shown
in bank clearings, which for the elev'
en- months of this year totaled $685..
600, DOC, 900, as against $146,000 100000
for eleven months Of last year. As
for railroad earnings, the gross thus
far reported for the first ten months
amounted to 1928, 900, 900, an increase
of $S5,o0o,O00 over the same period
last year. During the same eleven
months the net earnings were Sos,
100000, an increase OF over $4,000,
900 compared with last year, This
very gratifying gain was, of course
due to the stimulus of a magnificent
harvest and was mainly observed In
the last two or three months. 1t Is
hardly probable that this rate of ex
pansion will be con.4nued through,
out the year.
Tariff, Trusts and Currency
The new year promises to open with
a distinct improvement in political
conditions. In the United States we
have had a peaceful revolution follow,
ling an era of very disturbing radical
tism. While the latter is. still much
alive, there are signs Of Its modera.
Ition. The people expressed their de-
sire for a change at the polls last
November by again bringing the op-
position party into power, led by a
imam of progressive yet moderate ten.
dencies. All good citizens will await
the outcome patiently. AS a whole
the chief issues are still the tariff,
trusts and currency. Fortunately we
have selected for president a man Of
liability, integrity and courage, a man
of rational progressive tendencies and
Istrictly temperate in action. It Is to
be hoped that business will not re.
ceive any severe shocks from Mr.
Wilson. AS to what may be expected
from the national legislature, 1t is
not yet safe to- predict. There Is al
together too strong a tendency to use
the probe by lrnskillful hands and for
questionable purposes. We are snf.
|fering from too much hasty aafd III
considered legislation. 1t may be
that now the campaign is over con.
gresss will moderate its persecution Of
big business and conRne itself to
|sonle constructive work calculated to
I~rectify real, evils. Already congress