Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1890-06-06
INCREASE OF WEALTH.


neutatfOus
At the end of every gear there come
the question, ''What has become Of thu
results of the years production?" IL II
said that the Nation is adding to It'll
wealth thousand millions yearly. In
/ what form? 1t Is not In monetary cir
4 eulation. 1t is not In claims agains'
other countries or ownership of property
there. The crops of the year we shall
presently consume, or if part is to be
sold abroad, the goods received in OK
change will presently be consumed.
Where is the additional wealth of which
we boast? Is it only in higher valu
ations of lands and buildings and other
fixed property, valuation which may
be lost with the next turn of the wheei
These questions are not as childish u,
to many they may seem. 1t Is of nc
small Importance 10 discover what form
the added wealth of the Nation takes
SO that we may judge how far it is solid
and lasting and capable of reproduction
For If all tho lands Of tho country were
worth ten billion dollars year ago and
eleven billion dollars now but can pro.
duce no more than before, tho added
wealth is imaginary. Or If there has
been added within few years two
billion dollars TO the nominal value OF
railroad property, without any increase
in tho yearly earning power, what
actual gain in wealth is there2
The foundation OF prosperity Is the
land, and each year witnesses an actual
increase in the number of acres reduced
to cultivation and productiveness. That
change means increased wealth. From
1870 to 1850 thero were added of i'm
proved land about %, 600 900 acres, OF
more than 80 per cont, and there is
every reason to believe that the prog
ress In that respect has boon even more
rapid during the last decade. But the
addition of 15 900, 900 acres OF improved
land every year involves permanent in
yestment oi labor in clearing, fencing,
breaking and road-building, in the cree.
ton of houses and barns, and the pro-
caring OF stock and implements and ma
chinery, Tho new railroad which may
mob pay single dollar TO owners as yet,
may nevertheless have made possible
and profitable this enormous oxpendi.
turo OF labor in the creation OF new
farms. and II the i5,0ee, oe0 acres yearly
were worth no more than the average
OF land in 1850, that alone would repre-
sent an addition of 500, 001, 900 or more
to the National wealth each year, even
though nothing had been added TO
the price of land previously cultivated
But the completion of roads and rail.
roads, the settlement of other lands
near by and tho gradual development
OF community also add largely to tho
actual as we'll as the nominal value OF
all farm property within the circle OF
influence.
So it Is with the dwellings and other
structures in cities and towns. The
country IS not worse, but better sup
piled with all such structures than il
Wa ten years ago But that mea 1s an
increase more than proportionate to
population, and the yearly addition OF
almost 10000 inhabitants, oven IL
there wore no Improvement In the con
dition and accommodations of the peo-
pie, would by itself require additional
Investment yearly OF $50, 900, 900 or
more in building. Property of this
kind contributes as truly "a any other
to the wealth-produeing power of the
country, dwellings no less than stores,
or warehouses or factories. But, in
addition, there has boon each year
an enormous addition to the
manufacturing plant, apart from
tho buildings otherwise estimated;
to tho machinery in use and its produce
tive capacity. 1t is not SO easy to form
oven an approximate estimate of tho
value OF those additions, but every ono
realizes chat they must be- large. More
over, new mines are constantly opened,
which add millions every year to the
productions the new mines in the Lake
Superior district alone, which have
been added within the last five years,
have increased tho production more
than 1000 600 tons each year.
Not least among the properties Of per-
mnncnt value s the fruit OF inventive
genins. New ideas are tho Nations
most valuable capital. ami the IS, 600
patents which may be used In a year
md may provo of real value can not be
omitted. A single telephone patent il
supposed to be worth more than $50
0oa. 00o, 1t not only has stocks selling
at about that rate, and not only earns a
liberal return On such valuation, but
earns it by rendering tho people a serv-
ie9-N Y Buliarin