1903.] HAUPT—D#EPER NAVIGABLE CHANNELS. 201 
list of exporting nations, having reached nearly one anda half bil- 
lion dollars in 1901. The United States produces more wheat than 
any other country of the world ; more corn than all other countries 
combined ; more beef and pork than any other; three-fourths of 
the world’s supply.of cotton ; of coal our exports exceed those of 
any other nation, and at far less cost. Weare the mainstay of the 
world for petroleum for light, heat and other purposes, and we lead 
in the quantity and value of manufactured articles.’ 
_ For the internal distribution of the nearly 900,000,000 tons of 
traffic, resulting from our splendid resources and energies, we have 
Over 200,000 miles of railways, or more than two-fifths of the 
world’s mileage, to say nothing of the superior facilitiés for the dis- 
tribution of thought by mail, telephone and telegraph. . Thus it is 
seen that, although the population of the country has doubled 
within thirty years, the productivity of the nation has far exceeded 
this ratio, and that it is the main reliance of Europe for many of its 
necessities. Our importance as a base of supplies for the Orient is 
also rapidly increasing, and it is reasonable to suppose that the next 
generation will realize even greater developments than this. 
The present year heralds the preparation which the great masters 
of transportation are making for ‘‘ round-the-world” lines by the 
consolidation of the ocean carriers into the International Mer- 
cantile Marine Company, so that our exports may be delivered in 
vessels under domestic control at less cost, and. our heavy freight 
bills to foreign flags be reduced. This is as it should be, and every 
possible encouragement should be given to all legitimate efforts to 
increase the circulation of material products and to reduce the cost, 
thus extending the market-range. But the mere multiplication in 
the number of vessels does not lower the cost‘unless it develops a 
keen competition between rivals. This competition is to some 
extent neutralized by combination, but under good management 
this effect may be more than offset by the reduction in fixed charges 
and by the use of vessels of greater tonnage, which can be operated 
at less cost per ton of cargo transported. 
This brings us directly to the crux of the argument, for the ves- 
sels, having already outgrown their channels are obliged to await 
favorable conditions, clear with partial cargoes or lighter ; in every 
case adding to the cost at the expense of the consumer, or restrict- 
ing deliveries. It has been predicted that ere long vessels of 1000 
10, P. Austin, Statistician, Treasury Department, Washington. 
