But it is not exclusively the unparalleled agricultural output that has given American commerce and industry the remarkable prosperity we are now witnessing, that has sent up the gross earnings of the railways to more than three billions of dollars, and raised the total amount of bank clearings to the well-nigh incredible sum of 187,810, 967,274, or 21 per cent. more than the total for 1914. The unprecedented demand for American commodities of every kind to which the war has given rise has stimulate ed business activity in every direetion. The Allied Governments alone have purchased in this caum try during the year foodstuffs, clothing and munitions of war to the value of a billion dollars, er a billion and a half since the outbreak of hostilities, and the passing into American hands of " large part of the extensive foreign trade of Germany has also contributed to the general prosperity.
As a result, the total foreign trade of the United States in Tels amounted to 85,355,580,003, or 95 per cent. more than in any previous year. Of this total more than three and one-half billion dollars consisted of exports, which show an increase over those for 1914 of no less than 68 per cent., amd are nearly one snd three-quarter Hak lions in excess of the imports. The
Text read from the printed page and cleaned; old type leaves the occasional error.