The Burlington weekly hawk-eye. [volume] (Burlington, Iowa) 1857-1858, 1857-09-16

! -Asuoi'S shs Hiost Ett0tliienb features OF Thu
| present age is the enormous increase Of capita
in The United States. Tie quantity of land nm
der cultivation, the application Of machiner,
and improvement in scieHce the numbers of per
| sons employed in yarioGs productions com
bine to roll up capital in 4 nianIer PERHAPS ney
| er before witnessed III anv country Let d,
| take from official returns the numbers of peopl,
and the value OF manufactures. Report on th,
Finances, p. s1l
Value of : Value of Paid for
popa ~ ~, o Merchant agriculture. Railroad
ls4l 1I,u69, ts3 4S3,2ISgls sHl7-a I.o.nn IN
lsao as,9is76 loia,sas, SD a36a2i Go 7ao,0@'dts
1901 ssoV"oco is"oeee,tae ioo 200 MO Lea 90.
These products are annaai values, and this
year those OF agriculture are far in advance OF
any previous year. as ara also manufactures. -
The application of this large capital has IN the
last few years been absorbed in the construction
of railroads, OF which $4,000 miles ere in opera.
ton, giving new aii3 powerful stin nlrs to the
production oil natural wealth, capital is now
more abundant and cheaper than was the ease
ten years since. III is,p the agricultural pra-
duets were $50 per head; in 1850 they were
Sil per head; this year they are $3De Der head.
In lsi1 manufactures we're so per head. and
IN 1850 $50 per head. For the present and
comins year this increase is very much greater.
sMce capital, labor, materials and transport are
R4
TO be scarcely appreciated by even sacacio,s
Of prudent habits They see the onward
manifestations OF prosperity, and ascrbe i, -
extravaganza; they sec the large credits which
I'D our mode OF conducting business il intisnen
sable TO the prodnctio, and movement OF such
volumes OF commodities. and they infer thar
large portion must be ogreal and on the eve al
explosion. very sagacious merchant stated
on the occasion OF late sale Of property on
broadway for S55,ooa, iha, ii was tho toprth
time he had known Of It's being sold-tbe frst
for 81 900, more than forty years since. and !,
each successive sale the buyer was denounced
az crazy. Nevertheless, that piece of ground
m the heart OF the metropolis OF the Union. il
the reflection OF the natural increase. Eyerv
iarn settled Ut the west, every mill opened at
the east, every new crop Of cotton At the south
has added something 10 its value, and to that of
every other properly IN the Unon The in.
O. ease OF capital moves In the double ratio az
numbers and means. Thus If II 600, 900 souls
produced surplus Of $40 her head in 1870. the
amount was Sl70,e0a, 900, and $4,000, 900 now
producing $40 per head, $3.50, 900, 600 per IN. |
mum, to seek Investment.
The government taxes roads, houses. shjps /
steamboats, aud other machinery OF I
traffic, have absorbed much; but at this momen; |
with the exception Of the snbsiding land specu |
lations at the West, there seems to be no direc.
ton now for the employment OF the surplus
capital The vast amount Of railroad securities
held all over the country have been paid Tor by |
the owners, and whatever their value may be in
the market for the day, the properly, as a whole,
Is appreciating by the general course OF affairs.
II 10 IT once obvious that this portion ofrairoad
il very different from that OF specu.
alive property held in $685. By means Of bank
cans AZ = time when the production OF wealth
vas very emali and debts we're very large. The L
quantity OF wealth is now very great aud in.
'rcas'ng, and it will seek speedily some new out.
ct for its employment Il il not usual for soecn
alton to revive in the same direction twice IN
The last mania WAS for railroads
nd II has subsidized, leaving a vast majority OF
he works In good condition This direc.
lon Tor capital look place at time when asr,-
nltnral products were high aud the market ia
ored the farmers ut the expense Of the COM
lercial and manufacturing classes. The tide
GEMS now TO be turning In favor Of the latter.
nee there i every Indication OF chcap food
well as money-two elements Of lucrative e..
empIoyments, and consequent appreciation ,
real estate. However, the great increase in
in the operations OF industry, and |
the means u intercourse, have q q necessity I
more bank facilities, and this de- ,
and has raised the profits OF the institutions
ID led TO increase OF capital. In New York a
" alone the increase this year Is from Ss4. 4
", 500 TO S70,0isn, 600. and as the banks here
we not been more successful than elsewhere, .
y possible that enterprise may run in that di. 7
ctioh.-C.S 8. Economist
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