Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1857-02-04
s,rsvsh q shs u.sseA states.

u
Dssiae ,hs past year The prosperity Of
he Ueised States hes received 30 unex- /
saplsd dsvelope@sas. The various sour-
90 Of true national wealth, he coitiva-
sioa Of nsW lsnds, the increase OF the
csops, The sxtsosiou OF manufactures /
The working u mines, the import and ex-
pors sssAe, toreigo and hoDe commerce,
ihs construction and working Of rail- |
rosds, the growth and Embellishments Of
cities, have eli wonderfully increased,
and, BY sdiiug largely TO the capital Of
the country, have given such in pulse
aad scsivity TO business Of all kinds,
that il hes fer surpassed the b-st results
Of soy preceding yesr. This growth OF
prosperity is b { partially shown by the
published statements Of the Secretary Of
ths Treasury, inssmuch rs the ti.cal year
Of the Government closes the Both June,
snd, while the results Of those state
ments embrace and are largely affected
BY the business OF the latter b ,lf OF 1895,
they do not include that Of the latter
half Of 1856.
An approximate idea Of the business
Of the year can be formed BY examining
tables Of the commerce and finances OF
New York in 1855. The transactions OF
tho New York Clearing House for 1886
show On increase Of s 100000, 900, or
thirty per cent on those Of 1855, making
the Ntsl for the year amount TO the
enormous cum OF - 300, 900 900. The
transactions Of the London Clearing
House in 1889 amounted to $4,772 .0OO,-
OOO. They amount now, probably, to
triple that sum. II 90, the business Of
New York 10 equal = half that Of Lon
don. Ia the imports and exports Of New
| York, there bas been an Increase Of tbir-
ty-three per cent on those Of 1855. Tbs
increase in railroad traffic has been from
twenty to thirty per cent.
The increase in the cultivation Of new
lands, one Of the chief elements OF our
prosperity, 10 shown BY the large sales Of
those lsnds, and by the grants OF the
/ public domain, amounting to seventeen
| million six hundred thousand acres, near
y four times the extent of Massachu-
setss, or moro than Belgium and Holland
united. Besides these large approprin-
ticns, Congress has granted during the
year to rsilrosds, or 10 States that will
sooner or later partially make similar
disposition OF them, about twenty one
million seven hundred thousand acres
making . total OF sale, and grants in
single year Of thirty nine million three
hun.red thousand acres, equal in extent
to Virginia, or almost third Of Franc.
Notwithstanding the great decrease
Tor 90 many years in the Federal domain,
the public lands yet remaining unsold in
the Territories are equal in extent to the
present thirty one States, or more than
all Europe, except Russia. Farming and
industrial production has kept pace with
other departments. Its app oximate l.
uc, us estimated by the Secretary of the
Treasury from the returns Of the Census
OF lS40 and that of 1850. was during tho
yesr 1856, abost s., 600, 200, 900, or trip
le that OF 1880.
The Secretary estimates tie value Of
the entire property OF tho United States,
taxed and not taxed, at II ,3l1 200, 900,
exclusive OF the public domain. II c.
tim.tes the population at 26, 964 .3l2.
AZ the clOsc OF 1855, there we're 2l 900
miles Of railroad. There are now more
than "a 600 mics. The telegraph, which
does So much to diminish the loss of in
tcrest on capital and to quicken business
BY annihil:ting, ~ II were. the "mag
ni6cent distances' Of ou- territory, nov
extends in almost every direction
throughout the States. II IL estimated
that the aggregate length Of our electric
telegraph Is from forty to fifty thousand
miles.
> Our merchant marine has made great
progress during the year. There have be, D
constructed DBL steamers. and | ,103 sail
vessels, with IN aggregate Tonnage of
400 1894 show q decrease 10 the tonnage
Of the merchant marine on that Of 1855
caused by q more careful examination OF
the old lists, the effect Of which has been
to drop from the account large numb, r
Of vessels sold sb- Dad, lost, or long since
condemned.
During the year, the Federal Cover :
ment has reduced it's debt twenty five
per cent. 1t Cow amounts to $50 900,
OOO. with residue in the Treasury OF
$22,OtO,OOO, after the payment of all
demands. The President states that thi.
debt can be entirely extingui,hed f,r u 9
second time, lit having deem entirely |,
quidatei IN lo35-36) by the beginning
Of 1858, and he recon inends that Con.
gress take measures to prevent the ibiu-
rious effects thar wouli necessarily be
produced by too great an accumulation
OF specie in the Treasury. The state
ments Of tho financial affairs of the va.
riOrs States show everywhere high de-
gree Of prosperity. The different cities,
counties and railroads, throughout I. q
Union, IRE in u like Aourishlng condi.
ton. The banks, except a few in the
Eastern States, are also generally pros
porous, in const quence of the prudent
restrictions put upon their transactions
by the several Legislatures, and BY their
own private directors.
The Clearing Houses Of New York and
Boston, the former established in 1853,
tie latter 10 1850, have wide inhuence.
They may be considered US the iniiapon-
cable complement Of the Tree banking
system. 10 the salu,ary influence ex-r-
cised by these Institutions, may be add
cd that Of the guarantee, first demanded
OF the banks by " law Of. tho New York
Lsgis Ature, and since exacted by the
Legislatures Of other States, Of u depos.
IL with the State to secure the redemp.
ton Of bsak notes. 1his latter lcgula-
ton must prevent the risks of paper
money, and the possibility Of such ex-
cessivs issues ~ preceded the Crisis Of
1887. The increasing proportion Of gold
- y circulating medium, since the NC.
Qaisitioa OF California, the system Of
spscis psymeots adopted by the Govern.
msnt siucs 1910, and the safe rul. for
soos tine pursusd by is Of making no
Ioans whatever for any purpose. 10 ss>o.
cistionss cities, counties OF states, IRE
additional securities for tho permaneuce
Of our moOsyed and commercial prosper
ity.
IL 10 thought BY many that tho devcl-
opsosns Of the resources of the Uuited
States dspsnds chiefly on forsiAn capi-
tsl. The fsllacy Ut this idea Il shown