unprecedented boom. It is predicted that within the next twenty years 10,000 miles of railroad will no doubt be constructed in Asia and Africa, and the influence of this will be felt in our country.

United States has an export trade which is very heavy, and with every prospect of continuance. This will form a permanent and steady outlet for the surplus American fields and factories. In the year 1899 this country exported merchandise to the amount of $1,275,000,000, which was an increase of $20,000,000 over the preceding record-breaking year. Of these exports five-eighths were from the farm, and about three-eighths from manufactories. The prosperity of the country and healthy conditions are indicated by the fact that while competition among distributers was never more keen, the past year has brought prosperity to the mercantile world; in fact, all lines of business have been conducted on a profitable basis.

FARM PRODUCTS AND WAGES

In regard to the wages of the laboring and artisan classes and the cost of living, statistics show that there has been a decided improvement over previous years. In fact, not for many years, has so small a proportion of the working world been idle as now. Several hundred thousand operatives in cotton and woolen mills have secured an advance in wages from 10 per cent. to 15 per cent., and in other industrials there has been a strong increase. Workers of iron and steel are getting higher wages. Operatives in mines also are receiving more, the advance being as high in many instances as 25 per cent.

The marked growth in the value of farm products during the past year, as compared with the values of four or five years ago is strong on every side. The advance in cotton, wool, tobacco and flax-seed is to the direct benefit of the farmers. The part which the trusts have played in the advance in prices, whether it has been beneficial or otherwise is an important subject of consideration. The demands and aggressions of the railroad companies, and many of the trusts and strong industrial combinations generally are such as to merit careful state and national legislation and supervision.

These co-operations have in the main enjoyed a highly profitable year. They have distributed large sums of money to operatives and wage-men. These in turn are heavy consumers of the farm product, and in an indirect way we may say that the farmer is benefitted.

WAR TAXES AND TREASURY SURPLUS

By the report of the Secretary of the Treasury issued April, 1900, it is evident that there will be approximately about $70,000,000 surplus in the United States treasury at the close of the present fiscal year. This is composed in a large part by the excess of internal revenue or war tax, imposed to meet the special emergency of the Spanish-American War. Receipts from Custom's duties also are increasing largely and are swelling the surplus. For the first eight months of the fiscal year 1899-1900 dutiable merchandise imported into this country, exceeded by $67,000,000 the imports for the corresponding period of the previous year. The policy of the present administration has been to distribute the excess of the revenues among the national banks of the country in order to restore the money to active channels of trade, and later to use this money in redeeming about $25,000,000 of bonds falling due 1901. The administration has thus raised a question which the opposition no doubt will make use of in the coming campaign, and thereby introduce a discussion of the tariff question. There seems to be a widespread feeling that with surplus from the internal revenue and Custom's duties, measures should be taken to change the tariff law or amend the war on revenue tax, or both. The present condition of affairs appears, no doubt, to encourage extravagance on the part of the Government, and to become a burden on the tax payers. The voters will ask themselves whether it is right that these revenues should be spent in constructing gigantic canals, Pacific cables, paying ship subsidies, increasing the military or naval establishments, erecting public buildings, and other things of so-called "public benefit." Does not such apparently limitless resources encourage too lavish a pension system and dishonesty in public officials?

Certainly there will be a great opportunity within the reach of someone to assume the twentieth century leadership, and make himself the benefactor of his country. The men who will be elected in the coming campaign should be selected with the full understanding of what their responsibility will be. If the national leader shows that the resources of the republic are used for the benefit of the people, who are the sources of all political power, and for the benefit of those who live under its protection, he will find millions who rejoice in his wisdom and his courage. Not only will he have the best interests of the United States to consider, but also the best interests and welfare of island possessions hardly second to the possessions of any country except Great Britain in area, population and wealth.

IMPERIALISM AND EXPANSION

Prominent before the country, is the question of what shall we do with our new possessions. Two words have come into use which are bandied back and forth very often, but little understood, "imperialism" and "expansion." At first the association of the word imperialism with a government of monarchy is naturally repugnant to all republican ideas, and therefore there must be prejudices to its use. Expansion is a simpler term and means the enlarging of the territories which we already have. This was begun in the earlier history of the United States in three ways: First, by purchase, as in the case of Louisiana; second, by cession, as in the case of Texas, and third, by conquest or the result of war, as in the case of Mexico. The imperialistic idea implies the government of acquired possessions outside of the constitution. In this view our Government would rule its colonies according to its own ideas, whether they be right or wrong. This is the true imperialistic idea. On the other hand the colonies could be ruled in such a way that they would have a liberal, local self-government, and representation in the national affairs. The imperialistic idea has to a certain extent taken possession of many people, and, on the contrary, a class who oppose this idea are commonly known as anti-imperialists. The growth of imperialism and the opposition to it has been gradual.