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, as regards population, we stand well in comparison with the older States.

Now, let us consider some of the facts bearing on the economic condition of these four great nations. I find on referring to Mulhall's Balance-sheet of the World, 1870—1880," that in a table of the world's industries, under the heads of commerce, manufactures, mining, agriculture, carrying and banking, he gives us the following totals:—

Taking man for man, therefore, we are far ahead of the world in industry, and, instead of going back, are actually improving our position.

Now let us see what Mulhall says of the earnings of the nations free of taxes per head of population:—

Man for man we thus, as regards our earnings, not only stand at the head of the list, but have gained on our competitors.

Let us now look at what is said under the head of manufactures:—