5. Mining shows a great increase in the production of gold, copper 
and petroleum, while there has been, of course, a decline in the output 
of silver. 
6. Finances have been deranged by a heavy fall of import dues and 
an increase of expenditure resulting from the war with Spain. The 
deficit of 1898, reached $103,000,000. Public debt has arisen $250 000,000 
since 1893. 
7. Money actually in circulation has risen $241,000,000, entirely in 
gold, silver and paper money, showing no sensible change. At the 
same time, the Treasury nas had an increase of $15,000,000 in gold and 
$22,000,000 in silver. 
8. Banking business, to judge by the national banks, has increased 
30 per cent, in five years, or three times as fast as population, an unques¬ 
tionable proof of the general prosperity of the Union 
9. Notwiths anding the increase in mileage, the gross receipts of rail¬ 
roads fell $83,000,000, the net profits $21,000,000. 
10. The tonnage of port entries has risen 30 per cent., but this has 
been entirely in ships carrying foreign flags. The merchant shipping 
of the United States shows a steady decline. 
11. Public instruction progresses steadily, the average daily school 
attendance increasing much faster than population. School expenditure 
is three times as much as in the United Kingdom. 
12. Land grants to settlers and farmers average 10,000.000 acres yearly, 
and the area under farms it at present approximately 707,000,000 acres, 
of which one-third is under crops, two-thirds under pasture. 
AMERICAN HOMES. 
According to the latest compilations the United States contains 
12,690,152 families. These families are located as follows: 
Upon farms,. 4,767,179 
In villages,. 4,224,560 
In cities between 8,000 and 100,000 population, . 1,749.549 
In cities of 100,000 or greater population, . 1,948,834 
Among the farming families, which represent slightly more than one- 
third of the whole population, 47 per cent, own their properties free of 
incumbrance, and 19 per cent, in addition are owners subject to mort¬ 
gage. 
Among residents of villages 34 per cent, own their homes unincum¬ 
bered, and 10 per cent., in addition, own subject to mortgage. The pro¬ 
portion of those owning unincumbered homes in the smaller cities is 24 
per cent., and of mortgaged homes 12 per cent. In the greater cities but 
9 per cent, of the residents own their homes absolutely, and only about 
14 per cent, in addition are even partial owners. Thus, in the great cities 
as it will be seen, 77 per cent, of the people pay rent. Of the entire popu¬ 
lation of the country nearly 48 per cent, own their homes, either wholly or 
in part. The partial owners pay annually, in interest upon mortgages 
against homes (not including farms) the sum of $65,182,629, or an average 
of $80.00 per home. The average rate of interest is 6.23 per cent. The 
average value of the American home is $3,250, and the average incum¬ 
brance is $1,224. 
As the highest sense of security and contentment known to mankind 
86 
