Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1857-01-30
CROWN Of n. unlted stat...

the increase of the crops the extension of manufac
lures, the working of mines, the import and export
trade. foreign and home commerce. the construction
and working of railroads, u e growth and embelish.
ment OF cities, have all wonderfully increased and
by adding largely 10 the capital of the country bav
given such impulse and activity to business of all
kinds that 1t has far surpassed the best results ot
any preceding year. This growth of prosperity Is
but partially shown by the published statements NJ
the Secretary of the Treasury, inasmuch as the fiscal
year of the Government closes with the Both June and
while the results of those statements embrace and n
LARGELY affected by the business of the latter half of 55
they do not include that of The latter half of 1885
An approximate idea OF the business of the wear ca
be formed by examing tables of the commerce enJ
finances of New York in 1856. The transactions of
the New York clearing house for 1856 show an ~
of Sl70O, 600 or hrtv per rent on those Of
1855, making the total for the year amount to the
enormous sum of $1,000, 900 The transaction
of the London clearing house in 1849 amounted 10
$4,772, 100000 They amount now, probably 10 tri.
bic hat If so, the business of New York is
equal TO half that of London. In the imports and
exports of New York there has been an increase of
lhirly-three per those of 1856 The increase
10 rail road traffic has been from twenty 10 tbir,v nor
cent.
The increase in the cultivation of new lands one
of the chief elements of prosperity is shown by
the large sales OF those lands and by the giants Of
the pubic domain, amounting to seventeen million
six hundred thousand acres, nearly four times the
extent of Massachusetts, or more than Belgium and
Holland united. Besides these large appropriations
Congress has granted during the year 10 railroads or
TO States that will sooner or later partially make a
similar disposition OF them, about twenty-one million
seven hundred thousand acres making a total of
sales and grants in single year Of thirty nine mil
lion three hundred thousand acres equal in extent to
Virginia to almost third of France. Notwith
standing the great decrease for many years in the
Federal domain, the public lands yet remaining un
Id in the Territories are equal in extent to the pre-
sent thirty one States, or more than all Europe, ex.
cept Russia. Farming and Industrial production has
kept pace with other departments It's approximate
value, estimated by the Secretary of the Treasury,
from the returns of the census of 1910 and that Of
1850, was, during the year 1856 about $26OOO00,-
600 or triple that OF 1880.
The Secretary estimates the value of the entire
property of the United States taxed and not taxed, at
$11 317 O0O, 900, exclusive of the public domain. He
estimates the population at 26,964,312
At the close of 1856, there were 1869 miles of
rail road There now more than "a, 900 miles =
The telegraph, which does so much diminish the loss
OF interest capital and to quicken business by
initiating it were, the magnificent distances" of
our territory, now extends in almost every direction
throughout the States 1t is estimated that the aggre-
gate length of electric telegraph is from forty to
| fifty thousand miles.
| Our merchant marine has made great progress du-
! ring the year. There have been constructed two
| hundred and twentyone steamers, and seventeen
! hundred and three sail vessels, with aggregate
tonnage of 469, 1894 tons. Notwithstanding this
large addition, the official lists show decrease in the
tonnage of the merchant marine that of 1855.
caused by more careful examination of the old
lists The effect of which has been to drop from the
account large number of vessels sold abroad, lost
or long since condemned
During the year, the Federal Government has re-
duced its debt twenty-five per cent. 1t now amounts
to $50, 100000, with residue in the Treasury Of
mo 0ofHo ill dc
President states that this debt can be entirely exn-
guished for the second time, Git having been entirely
liquidated in 1S35-'36) by the beginning of 1858,
and he recommends that Congress take measures 10
prevent the injurious effects thai would necessarily be
produced by too great an accumulation of specie in
the Treasury. The statements of the financial affairs
of the various States show everywhere high degree
of prosperity The different cities, counties, and rail
roads throughout the Union, in like f0urishing
condition. The banks, except few in the Eastern
States, are also generally prosperous in consequence
OF the prudent restrictions put upon their tran sacons
by several Legislatures, and by their private di.
rectors.
The clearing houses of New York and Boston, the
former established in 1853, the latter in 1855, have
wide influence. They may be considered as the in.
dspensable complement of the free banking system
To the salutary influence exercised by these insttu
tons, may be added that of the guarantee first de-
handed of the banks by law of the New York Le
gislature, and since enacted by the Legislatures
other States, of deposit with the State to secure
the redemption of bank notes. This latter regulation
must prevent the risks of paper money, and The pos
sbllty OF such excessive issues as preceded the e
sis of 1887. The increasing proportion of gold
circulating medium since the acquisition of Califor
MIA, the system of specie payments adopted by tn
Government since 1910, and the safe rule for som
lime pursued by it of making no loans whatever 70
any pur to associations cities, counties, states
are additional rities for the permanence OF GU
moned and commercial prosperity.
1t is thought by many that the development of th
resources of the United States depends chiefly on for
eign capital The falacy of this idea is shown b,
our progress since the investment of foreign capita
among US was checked three years ago, by the pros
pect and subsequent actual existence of the Easter
war In that time our foreign commerce has grow
from S499 000,0 10 $642, 900, 000-an increase
30 per cent; there has been reduction in the
tiona debt of Sd 0OO 600, or $4,000 900 more thar
the present debt; from $4,000 900 to $15 900 900
at premiums of 10 and Is per cent, have been paid
e on European claims, and $l0,00O,O0O for the pur
chase CT the Meslla Valley, which equals in extern
r the kingdom of Belgium our trade with Canada, IN
der the new treaty, has increased from $2OO00,0Oy
in 1853 to $4,000, 600 in 1856 our railroads, which
in 1853 were hardly 10000 miles long, are now, a:
already stated, $4,000 in length and the mines
of California have supplied with about Sl7O,OOO
oOO IN gold, which has paid for foreign imports
e and furnished a residue sufficient for domestic
! wants. This residue is obtained by dedacting from
d Sl7O,0OOC0O, the amount Of gold received, SlZV
100000, the amount of specie exported, giving IN
years addition of SAL 100000 to the circulating
II medium of The country.
: Meanwhile, our tonnage has increased 1,2OOOoO
tons, or IS per cent the cultivation of new lands
! judging by the sale of public lands covers an extent
= of $4,000, 900 acres equal TO the State of OEio Of
= the Kingdom of the Two Scilies, while the tota
amount of land sold and granted for various obJec'
has amounted 10 S1,8OO,OOO acres, almost equal .
e New York, Pennsylvania and Ohio, or to the BRITISH
IL IA Rail- While tho country has tnuS