Smyrna times., 1880-01-07

THE PROGRESS OF A YEAR.-lt is well for
us at the beginning of new year to look
back at the past and see whether we are
making any progress. Whatever may be
said of us individually or as communities,
the fact was never more apparent that as a
nation, during the past year, We made
wonderful material progress. 1t is true the
for this result have extended
over all the past years since 1873 when we
were doing psnance for a state OF affairs
consequently upon period ofwonSsrful in
fation and extravaganza, bringing its natural
reactionary results of forced privations and |
economies. The Baltimore San in speak
ing of these years when we were bringing |
back our currency to specie basis and |
polishing our tools for a general resump-
ton of industry says:
"In 1879 began the fruition of all these
toilsome and difficult but necessary pro-
cesses. We resumed specie payments and
resumed industry at the same time. The
recovery has appeared to be almost nnagl-
cal in its suddennsss to those who have not
watched the long antecedent labors by
which alone this resumption of prosperity
could be insure in permanency and solldity.
It is certainly q solid and substantial re-
storation of the country as we look back at
what has been already done in the short
space of a single year. Every sort of trade
and industry has recovered its tone and its
hopefulness, and is urged forward by the
positive expectation of reward and profit.
The country is upon its feet once more. 1t
no longer sits expectant, but presses on
ward with every muscle in full play, upon
the race ia which it feels the assurance
that it has no compstitor which need be
dreaded During the civil war we spent
four thousand millions of dollars, and
Europe hastily concluded that we had
| reached the elimination point in our des-
tines. But the United States are at peace
| to-day, and have converted all their swords
! into plow-shares and pruning hooks, while
Europe groans under an annual burden OF
| 81 900 O00, 900 spent in the maintenance OF
armies and naViss. Since 1860, "the peace OF
Europe" has cost $27, 000,000,000 in money
to maintain it, while from 100000 to
| S,500,O00 men are annually withdrawn from
| productive industries in order to be trained
| in the arts of destruction. If these men
could earn by the labor of their hands an
average of $500 year, as able-bodied men
do in this country, the losses to Europe by
its predictions ornaments since 1861 Will
have exceeded thirty billions of money,
equal to the entire valuation of the United
States, according to the census OF 1870
These figures afford a clew to the sutferings
and distress of Europe as soon as an un.
prosperous year visits that continent, and
to the anxiety with which crops and sea
sons are watched there. The United
States have no need to feel these anxietles
Their territory is too broad, their climate
too various, their soil too responsive to the
touch of husbandy. Seven years of Egyp
tan famine would not destroy US, whil'
one year of short crops in Europe makes
every country there our debtor for pro
visions. During the year just closed ever.
section of the land has profited by thes
J extraordinary and imperative demands
The South, with but 20 per cent. OF tn
population, has furnished % per cent. o
the most enormous bulk OF expectation
ever sent forth from our shores. Tn
farmers all the land through have mad
D money and are rapidly paying their debts
All sorts of manufacturing industries ar
returning to full work with advancin
wages. Mining has been pushed to
a greater extent than ever, and has un
II | PIOSpGI0d yNSA'
is estimated that the dividends on tn
stocks of companies have during the yes
u afforded very large addition for reinves
Q ment as part of the permanent capital (
g the country. The cotton crop has yielde
v largely in excess of previous years. tt
business of the banks has increased mo
e than so per cent. over last year, and the e
re changes are now nearly as large as in ISL
rs without making any deductions for Il
!. differences between the two years in valu
and the purchasing power of money. A
~ these are substantial evidences of the pI
se gress made by the country during the We
in 1879. Industry and trade have acquir
NJ such a momentum and rest upon such
!. firm basis that we may reasonably expec
"a, continued progress and development duri
l." the present year. Do not substantial bl
or sings Of this sort call for proper rscog
al, ton on the part of the people? Do til
not make it the public duty to secure
Gu moral and political fruitions Of these gr
IN material resources upon such basis Il
ed we may be sure that our children will en-
- them ~