The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1881-07-02

their calves and lambs land will become more
valuable and farming more profitable.
Tie Country too Strong for Financial Crash.
From the Galveston News.
The bears and croakers who profess to see
nothing in the present unparalleled prosperity
OF the country but speculative gambling and
fictitious values, are either actuated by de-
sire for disaster and depression Of stocks and
property, or are totally oblivlous of the solidlty
of the situation. The causes that give rise to
and are sustaining the present wonderful out
growth Of American enterPrlsdsin wealth-pro.
ducing industries are of the most substantial
and enduring character. The fundamental
solvency of the country and the unquestioned
soundness of tlle currency constitute solid
basis for a superstructurc of the largest aud
most splendid character Confidence In the
debit paying integrity of the people, abundance
of money the low rate of interest on State and
National securities, the common sense OF the
dollar that seeks investment for the largest
profit, and the aggregations of capital actively
applied to great and greatly useful works OF
internal improvement, afford palpable assur-
ances that the boom has passed beyond and
above the hazards of ring methods and stock
gambling. There are other and equally pc.
tent reasons for the belief that the spirit OF en-
terprisc now manlfesting itself IN the construc-
ton of railroads, in manufactures and me-
chanical industries Is not in advance OF the
growth and demands of agriculture and COM
merce. The great commonwealth has passed
its centennial crowned with successes that are
recognized by intelligence and capital through
out the world as unmstakable evidences OF
progress, power and perpetuity. With a re-
united people, identified interests, reciprocal
wants and sympathies, universal loyalty to the
General Government, clear recognition OF
the doctrine that the States are distinct as the
pillows, yet one as the ocean, and with a com
mon heritage and common destiny, the Re.
public puts off the swaddllng clothes of ex-
pertinent, and with a ringing goodby to old
forms and etfete systems, inscribes "EstO Per
pctua" upon its banners, and moves to the
front of the powers OF the earth with vitality
for a march of thousand years, and with
brain, money, muscle and manhood to MAIN
tain IT'S place at the head of the column. 1t is
the sense OF security that this supreme convic.
lion gives to capital that puts It in cheerful
motion and causes it to seek investment IN
works that shall be as permanent as the soil
and as enduring as the Government Egypt
piled up her pyramids and starved to death,
Greece luXurlated IN her letters and pershed
in her Pantheon, while Rome gathered all her
trophies in her capital and entombed them
with her glory IN her coliseum. Money and
labor expended in burial cases, cenototaphs,
Obeisks, pyramids, collseums and temples,
yield an income of sentiment, and send long
shadows of peculiar civilization and culture
to the future, but no practical good is achieved
and no material benefit is secured to mankind.
This is practical business age and the gen
lus of our civilization has discovered the true
use of metal and some very efficient methods
of applying 1t to the wants of mankind. King
Solomon had more money than he knew what
to do with, and spent it IN building a temple
and IN sumptuOus and voluptuous living. Jay
Gould has his millions of money, and he
spends 1t in building railroads and develop
ing the resources of his couNtry. SolOmon's
investments brought no income, and added
nothing to the wealth of his kingdom. Gould's
return him compensating dividends, while
providing works of permanent utility to the
country While money is plenty, and invest
ments yield even per cent, there can be no
disaster to the general public. individuals
may suffer losses and severe crises may strain
the moneyed centers but agriculture, the prime
source of all prosperity and wealth, can suffer
but little and railroads, the great developers,
cviliZers, educators and Conservators of the
country, will go on all the same. Another po-
tent reason, as heretofore observed by The
Necs in support of the proposition that en-
terprise as a whole, is not in excess of the
wants of the country, IS the rapid increase of
population and its wonderfully productive ca
pacltles. In the younger days of the Repub.
lie, when capital and enterprise were ditlident,
and the continent was measurably wilder
ness, railroads followed population; but now
population follows the rail and no immigrant
thinks of settling beyond the sunlight of its IN.
luences. The natural increase of our 50,000,-
600 will give 100000, 900 liz aquarter of a cen
fury, and, If we add to this the immigration
from foreign countries at the present rate
say 100000 annually-and 80 per cent. nat
ural increase after landing on our shores, we
shall have at the end of quarter of century
from the year 1880 a grand aggregate of 1885,
100000 inhabitants. Before the present rail-
road excitement set in for eight years that IN.
terest was at almost stand-stlll; but the cOun.
try was growing, agriculture fiourished, COM
merce expanded, and new fields of labor were
opened. The census of 1880 astonished the peO-
pie with revelation of the vastness of their
possessions and the meagerness of their in
dustries compared with the greatness of
their country and the dazzling posi-
bibilties of its future They have made
immense strides of progress since the panic
that paralyzed enterprise, closed iron mills,
and put the railroads of the country In the
hands Of receivers, and they suddenly realized
that the railroad systems of 1913, and
the number OF miles then in operation, were
inadequate to the wants OF 1891, and an i'm
petus was at once given to railroad building
unprecedented IN this or any other country.
Capital sprang from its hidng-places, and
lines were projected to fill the gap from 1873
a. La;,,
overdone; it is only catching up with the adj
vanced necessities of agriculture and com
merce, and affording facilities for the full de-
velopment of heretofore inaccessible regions.
The new roads, as a rule, will pay percent.
age on the cost of building and equipment
and that percentage will swell into reimburs
ing dividends as population comes in and pro-
ductiOn increases. So we have ample guaran-
tee against general crash, in this view of the
case, and let it be remembered, moreover that
the men who are foremost IN building the rail
No., Ill Of