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Show 4 AtlNING REVIEW, INTER-AtOUNTA- lN m. $71,111,943. For the eight months ending August 3i, 1S95, our domestic exports were $4S9,S60, 55 1, against imports of 5535.737.S19. That is to say, for the month there was an adverse balance, last year of 516,290,784 and for the (f eight months of $46,377,268. This year our foreign trade is in very different shape. For August, 1S96. our domestic exports were 566,732,452, against imports to the amount of $49,4 and for eight months of iS96our domestic exports have been $567,259,457, against imports of 5471,222,434. That is to say, a balance in our favor for August, 1S96, of $17,273,127, and tor the eight months a balance in our favor of 5S,-32- 5, 96,937,023. As we see by these figures last year in the month of August, the balance of trade was against us over sixteen millions. This year it is in our favor over seventeen millions. For the eight months last year the balance sas against us million. millions. This year it is in our favor over ninety-si- x over forty-nin- e This year gold is coming by every steamer. What makes, then, the difference, between the boom of August, 1895, and the concentrated hard times of August The answer is very simple. We have only to turn to prices of last year s products and this years to tell the whole story. Referring back to our issue of Saturday, August 31, of last year, sc find December wheat, Chicago price, quoted for that day, high 6SJ, low 68J. On the last day of August, this year, Saturday, August 29, the last business day, Aton-da- y being Labor Day, high on December wheat at Chicago was 60i, low 59i. and this in the face of the fact that the worlds stock has been run down, and the years product is estimated by Dornbusch at 15 4,000,000 bushels short of last year. We find May corn on the last of August, 1895, ranged from 363 to 37i, against 31 this year. We find September cotton on that day last year 7.73 to 7.80, against 7.25 to 7.50 this year. November cotton 7.85 to 7.92 last year, against 7.39 to 7.64 this year, We find the average line of active stocks on that day 62i against 49 this year. Turning to Bradstreets Review of trade for the last week of August, 1S95, we find he says that the closing week cf August surpassed even the most optimistic. with a striking increase in the volume of business with jobbers in staple lines at leading centers; and, to a more moderate extent, at many distributing points. That the gain in quotations for steel and iron for the week has been one of the sharpest on record, and following, as it had, an advance of about was enough to raise the fifty per cent, from the lowest level reached in 1S93-question whether a veritable boom u as not impending in those metals. That there had been a large rise in prices of commodities. That brief report of good times was from a little flurry of better prices that had given producers some surplus, seme purchasing power. This year has been one of low' prices and of lack of surplus and purchasing power among the producing people of the country. Our big exports are a reflection, not of surplus products but of lower consumption at home, w'hich compelled us to sell at a sacrifice abroad. Our small exports this year again reflect our poverty and inability to buy. Our gold imports reflect the fact that we had to sacrifice goods abroad for cash to make up deficits at heme. That is the reason why no general boom has followed this great change in the. balance of trade and this great influx of gold. The money has been spent in advance, from necessity. So long as the gold standard remains, while business is expanded by increase ing population the world over, and while more and more of the worlds people are brought under the gold standard, the life must be crushed out of production and prosperity by low and lower prices and loss of purchasing power, w'hich can only be met by wider distribution, greater carrying charges, lower prices, There can be no permanent advance in general prices, no return to prosperity, until the grip of gold Is broken. The gold standard alone is responsibe for every backset trade has had since 1873. No condition of exhausted stocks or can give more than temporary rebound against its steadily contracting power, Take English trade, year by year with Brstish colonies and foreign countries, and an analysis will show how each country has been milked in turn years ago fifty millions of people through the gold standard. Twenty-liv- e Great Britain and Portugal were on a gold basis. Now there are six hundred millions bn a gold basis, with prosperity and prices waning in all of the countries cursed by it. The propaganda still goes on. There are still eight millions of people to be swept into the net of fixed money for expanding business. In our own country, as the one which, because of its higher and more widespread prosperity, ought to be, as it w ill be, the uprising to break the constricting cures f gold. 1S96, and of to-day- ? 4, pro:-pentya- nd low-pric- es . THE MINING ENGINEERS.' BY H. IIIRSCHING. Your suggestion about the organization of the mining engineers of the new state in your last issue is a timely one. in every state of the Union where the mining industry is carried on, the local engineers arid scientists have formed organizations and the benefits derived from them is of great magnitude to both, the organization and the state. The Polytechnic Institute, which was organized in the year of 1890, has done excellent work in advancing our industrial interests, but jj could not continue with its original activity during the hard and dWe have not heard anything epressed times of the past few years. from the Institute for a long time and nothing was lately published which would represent the intelligence and ability of our engineers and scientists. Since Utah became a state, matters have greatly changed and I believe the time has arrived, where an institute of that kind Mill have a permanent existence. Many hundreds of capable engineers and scientists are located in Utah, hit they are not' generally known, because no organization exists where the ability and honesty of men can be fostered. Look upon the state of Colorado, where technical and industrial organizations are flourishing. The capable and honest men are recognized and they have a commanding influence in the dI evelopment of all branches of technical industries, even have noticed that frequently men are sent from eastern and European states to Utah to advise our people in engineering, metallurgical processes and expert cases before cout ts. 1 am convinced that our local talents are frI have noticed equently superior to them in every instance. Further that chemical and metallurgical processes of recent date are coni rolled from Denver and by English parties. They have' formed syndicates on issued patent's and employ chemists to examine samples of ores from St $ up to $100 and reports about the successor failure with their particular patented processes. They are however careful to report them, only successful, if the claims of their patents can be applied beyond any reasonable doubt, in order to obtain a lucrative royalty.. The revenue from Utah to these Colorado. English and eastern syndicate has been enormous in the last few years; and I ask what particular Keneflt have the people of Utah derived from these monopolies? None, with the exception of the Mercur district and immediate neigIt is well known to the metallurgical chemist, that ore hborhood. with complexcd ore bodies cannot be worked successfully with the patented cyanide processes, and unfortunately the majority of our Utah ore bodies do not yield a good result with these cyanide processes. Some ores of the Mercur district are exceptions, but without modification of the patented cyanide processes r.o success can be obtained. The cheap treatment of our ores by lixiviation processes is therefore set back, and will be as long as our mining people are laboring under the mistaken idea that all the good must come from these syndicates. If we desire to make a success with cheap extraction processes we must declare our independeaice from monopolies and syndicates. As the long as the illusory belief among our mining people prevails, that syndicates will not alone treat their ores with their processes but finally with cheap lixiviation processes in our buy their property, section can be expected, and our state with it grand mineral and other resources. will be tributary to Coloiado and eastern syndicates. The lixiviation processes are chemical processes and require a very deep aknowledge in chemistry, and the success of cheap extraction is not the lways due to the outlined claims of patents, but more especially to modification of the process and apparatus and if this is properly and correctly understood by our mining people, we will extract our ores by outhe intelligence and labor of our own people without appealing tside help. We must always remember thad the process of successful lixiviation is largely due to the energy of our departed friend C A. Stetefeld, who has improved the old Freiberg hyposulphite process by the courtesy of the Hon. R. C. Chambers of the Ontario and Daly mines and his able assistant E. H. Russel, in such manner that oday large ore bodies can be treated and handled in tanks and vats w ithout difficulty, so that Utah in fact represents the originator of successful chemical extraction on this continent. It is therefore of great importance that our local talents are organized in order to be able to discuss the progress and feasibilities of modern engineering and processe any also the necessary mining laws of the future. The reputation of 'hah? and mining men and scientists must prevail in the future as in the p.t tte for this reason suggest that Col. C. Stebens, former president f iisheu Polytechnic 'institute! calls a meeting, day and meeting place pul in the daily papers of this week and am confident that all n n .0 geodesy and natural sciences of this city will attend. no-succe- ss . 1 1 -- |