Democratic Sentinel, Volume 1, Number 21, Rensselaer, Jasper County, 6 July 1877 — COMMERCE AND INDUSTRY. [ARTICLE]

COMMERCE AND INDUSTRY.

The exportation of ship-building timber from Canada for European yards is on the increase. The advantages of the war in Europe to the business men of tlie United States have thus far been exactly nothing. It may be doubted whether the results are even as favorable as that. The beautiful specimens of American furniture, watches, musical instruments, cloths, tools and hangings, which are being exported in such large quantity now, seem to be producing the impression abroad that tlie Americans are really a civilized people. The merchant marine of tlie United States, according to the report of the Bureau of Statistics, just issued, has decreased during the twelvemonth from a total tonnage of 4,853,792 to 4,279,458. The tonnage of Great Britain for the year covering half the same period has increased from 5,864,588 to 5,891,691. Minneapolis handled 5,250,000 bushels of wheat the past year, but sent abroad only 48,000 bushels of the grain. The rest of it came down to the seacoast in the form of ban-els of flour. Minneapolis was accordingly $3,000,000 the richer for having manufactured her raw material instead of having exported it direct. One great need of this country, says the New York Tribune , is skilled labor. That sort of labor is snapped up everywhere and is in good demand. Men out of work now owe the fact in nine cases out of ten to their own inefficiency and clumsiness. It is an important subject for idle workingmen to consider, whether the present apprentice system of this country, which stands iu the way of the training up of skilled workmen, does not need reforming. The annual report of the business of the Michigan Central Railroad Company for the year ending May 31, is not very comforting to the shareholders. The gross earnings were $6,483,000, and the operating expenses $4,439,000, leaving as net earnings $2 ;044,000. Out of this has been paid for taxes, $267,000, and for interest and rentals, $1,650,000, leaving applicable to dividends on a share capital of $19,000,000 only $127,000, or about three-quarters of 1 per cent. The commerce of 1876-7 has, says an Eastern contemporary, brought great blessings to the American people. It has been large and profitable, ,h»8 made things easier here than in almost any other large country iu the world, and, better than all, has latterly turned the minds of the people away from politics to more healthful topics. The balance of trade is $210,000,000 in merchandise in our favor this year, an increase of about $50,000,000 over tlie preceding year. The increase is due to the larger exports. Raw cotton fell off $20,000,000, and wheat fell off $12,000,000; but manufactures, provisions, corn, tobacco, and oil were sold to foreign customers in quantities which immensely overcame the deficiency. The year ends with several new and important lines of export trade developed, with genuine hope and confidence on the part of manufacturers, farmers, and miners. The fact that J imports are again increasing shows great purchasing power also among the ! people. The country may congratulate itself on the lisppy results of thecommercial year.