The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1857-02-20
Growth Of the United States.

The following compact and interesting
sketch OF the growth Of the United States
during the past year, we take from the WASH
instOn Globe;
During the pas, year the prosperity OF the
United States has received an unexampled
development. The various sources Of true
national wealth, the cultivation OF new lands,
the increase Of the crops, the extension OF
manufactures, the working of mines, the im-
port and export trade foreign and home
commerce, the construction and working OF
railroads, the growth and establishment, OF
cities, have all wonderfully increased, and,
by adding largely TO the capital Of the coun-
try, have given such impulse aud activity to
business OF all kinds, that /, has FAR surpass-
ed tvs best results Of any preceding year -
This growth OF prosperity !, but partially
shown by The published statements OF The
Secretary Of the Treasury. inLsmuch as The
fiscal year OF the Government closes with
the 30Ih June, and, while the results OF
these statements embrace and are largely
affected by the business OF the latter halt OF
1885, they do not include tina, OF the latter
half OF 1856. an approximate idea of The
business OF tho year can be formed by ca
aiming tables Of the commerce on finances
OF New YoIk in 1856. The transactions oi
the New York clearing house Tor 1856 show
an increase Of Si700, 900 900, or 50 per
cent. on those OF 1855. making The total for
the year amount to the enormous sum OF
81, 900, 900 900. The Transactions OF the
London clearing honse In 1899 amounted TO
S4,772, 100000. They amount now proba-
bly, to triple that sum. II 30, the business
Of New York is equal TO hall that OF London.
In the imports and exports Of New York,
there has been an increase OF % per cent
on those OF 1855. The increase in railroad
traffic has been from tweniy 10 thirty per
cent.
The increase in the cultivation OF new
lands, one Of the chief elements Of our pros.
perity, is shown by the large sales OF those
lanes, aud by the grants OF tho public do
main, amounting 10 seventeen million six
hundred thousand acres, nearly four times
The extent Of Massachusetts,, OF more than
Belgium and Holland united. Besides lhsse
large appropriations, Congress has granted
during The year 20 railroads, or 10 states thai
will sooner or later partially make similar
disposition u them, about twenty ooe mill
lou seven uuuuIcu buOuoaid ASISst mdhiNB
a total OF sales and grants in single year
of ihirty-nine million three hundred thou
sand acres, equal in extent 10 Virgins, or
10 almos, third OF France. NotStlhs,and-
ing the great decrease for SD many years in
the federal domain, The public lands yet re-
naming unsolj in the territories are equal
in extent 10 the present, thir,y-one states, OF
more than alt Europe, except Russia. Farm
ing and industrial production has kept pace
with other departments. It's approximate
value as estimated By the secretary OF The
treasury from the returns OF the census OF
1910 aud that OF 1850, was, during the year
1856, abou, SO GOO 600, 900, or triple tha, Of
1880.
The secretary estimates the value OF the
entire properly Of the United States, taxed
and no, taxed, at S IL ,3i7 ,00O, 900, exclusive
OF the public domain. tie estimates the
population OF %, 964 ,3le.
Al tho elise OF 1855, there were I'll ,069
miles of railroad. There are now more than
$4,000 miles. The elepraph, which does
80 much 10 diminish the loss OF interest on
capital. and 10 quicken business, By anuihi-
laiing. as it we've, the magnificent distances
OF our territory now extends IN almost
every direction throughout the states. Ii is
estimated tha, the aggregate length OF our
electric telegraph is from forty TO ti'ty thou
SAID miles.
Our merchant marine has made great pro-
gress during tho year. There have been
constructed two hundred and lweniy-onc |
steamers, and seventeen hundrSd anu three /
sail vessels. with an aggregate tonnage OF
4G9, 1874 tons. Notwithstanding this large |
addition, the official lists show decrease
in the tonnage Of the merchant marine on
that Of 1855, caused By more careful ex-
animation The old lists. the effect OF which
has been 10 drop from the accOun, large
numbs oivrssels sold abroad, lost, or long
since condemned.
During the year the federal gvernmen,
has reduced it, debt To twenty Eve per cent.
Ii now amounts TO So, 0O0, 900. with rest
Due in the treasury Vi s22 OOO 900, after the
payment Of all demands. The President
states that this debt can &c entirely extIu
gui,hed Tor the second time. III having been
entirely hquidat.d IN 1850 by the begin
"'"o ~ lsSs- and he Ieco,nrnsnds that Con
~ ess take measures 10 prevent he Injurious
effects that wouid necessarily be Produced
by too g-.at an accumulation Of specie in
the treasury. The statements OF the hnan.
Cldl ullatTS VI TIC NtINods shtsNs 4
where high degree Of prosperity. The
different cities, counties, and railroads
throushou the Union, are in like flourish
ing c0ndiiiou. The banks, except u few in
the eastern states, are also generally pros
perous, in consequence oil the prudent re-
s,sictions put upon their transactions by the
several legislatures, and BY their own private
direclors. The clearing houses OF New York
aud Boston, the former established IN 1858,
the latte. in 1855, have wide, Influence
They may be considered AZ III indlsIensa-
BILE implement OF the free banking sysem.
To the saluIary influence exercised by these
institutions. may be- added that OF the guar
antec, first demanded OF the banks BY a law
Of the New York legislature, aud since ex- 4,
acied by The legislatures Of other states, OF
deposit with the state TO secure the redemp-
lion OF bank notes. This latter regulation
must prevent the risks Of paper money, and 4
the possibility Oi such excessive Issues n ,
preceded the cribs Of 1887. The increas-
ing proportion % gold rs circulating med'-
um. since the acquisition Of California, the
system Of specie pay nenls adopted by The I
government since 1910, and the sale rule
for some time pursued by il OF making no
loans whatever tor any purpose, TO associa-
tions, cities, count e. or states, are additional
securities fur the permanence OF ouI money
ed and commercial prosperity. I,
IL is thought by many that the develop /,
meni oil tho resources Of the Unied States
depenls chiefly upon foreign capital The
hllacy OF this idea Is shown by our PROCESS
sioce the investment Of foreign capital among |
us was checked, three years ago, ny the pos
peel and sobssqueu, actual existence Of the
eastern vn. Ia thai time our foreign COM {