The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1890-03-20

Through and through Of the purest gold.
THE ERA OF MANUFACTURES.
The United States Ready to Enter
the Markets Of the World.
Philadelphia Press.
The time has arrived, when in the
course of commercial development as a
nation, the manufacturers of the United
States will enter the markets of the
world. Attention has already been called
to the increase in the value and quantity
of such exports in the editorial columns
of the Press, and in all the departments
OF trade there is great interest in the
subject. 1t has been known that the
price of pig iron has warranted ship
ments from New York to Glasgow and
London recently and a leading bitumin-
GUS coal firm in New York has received
unsolicited inquiries for coal and coke
from three ports in South America, from
London, from Antwerp and Rotterdam
within few weeks Makers of machin-
cry in this country never did larger
foreign business than at this time.
The late Civil War checked our inter
course with a foreign nations to large
degree. We have shipped abroad the
produce of the soil to the extent of
100000, 900 to $675, 10000 per year, and
have supplied the world with precious
metals, but in the last quarter of a cen
fr1p t1,nr hoc
to introduce our manufactured products
to other nations. The mills of the coun-
try have been kept busy supplying a
large home market, and, though an ac-
tive and energetic people, we have been
content to see England and other coun-
I tries occupy and enrich themselves by
their dealings in the worlds markets.
OUR INTERNAL IMPROVEMENTS.
On the whole, this course was wise,
and the end will show it to be beneficial.
The United States could not have COM
peted successfully with the experience
and capital OF older and richer nations
in many departments of manufactures
quarter of a century ago, but in the
meantime this country has placed itself
in position in which it is able to do so
on even terms. During that period the
whole energies were spent on the projec-
ton and completion of vast and mag
nificent system of rail communication
such as the world never dreamed of be-
fore. During that period we have built
10000 miles of railway, and to-day there
l00 Of in,
ton within the borders of the United
States, or more than half the mileage of
the world. Our inland system of navi-
cation has during the same time been
greatly improved. On the great lakes
the tonnage carried is nearly equal to
the whole coastwise trade, and millions
of money have been spent on the i'm
provement of rivers and canals. The
railroads of this country can be operated
at less cost than those of any country
with which the United States will come
in competition. The total cost of some of
our roads does not equal the value of the
right of way in England OF France, and
the bonded Indebtedness in Europe is
vastly greater per mile than in this
country. The great work of thorough
system of internal transportation in the
United States is practically finished.
Several billions of dollars have been
spent, and the result is quick and thor
ough service to and from all parts of the
country, unrestricted by national boun-
Diary lines as in Europe
/ But in another way we are now pre-
pared to compete with Europe as man
ufacturing nation. During the progress
of our internal improvements the wealth
of the nation has grown steadily, and
the accumulation of capital in financial
institutions and in individual hands has
been enormous and beyond the estimate
of man. This growth of wealth is the
first requisite in the extension of the
nations business area. With this growth
there has been a tendency to get our
business affairs on a firmer basis, and
this has been especially noticeable
during the past five years. The bank
ing system was put on a sound footing
during the war, but more recently there
have been serious movements to adopt
more business-like methods in the opera
ton OF our railroads, and in other direc-
tions. At this time, after four years of
depression the country is on firm basis
as to price, and it is more difficult at this
moment to float a wildcat scheme of
any kind in New Yark than in any finan-
cial centre of the old world. The op-
portunities for investment are more gen
uine here than abroad, and we have
gone through our period of youthful
and foolish speculation, while they are
still in their African gold and diamond
mines and breeding stages in London.
The vast individual fortunes in this
country, and the immense wealth of the
nation in gold and silver, in the treasury
and in the ground, will make us the f.
nancial centre of the world in the next
century.
INVENTION AND MACHINERY
The United States, in the coming con-
test for the worlds markets for manu-
features, has another advantage which
should be mentioned. We are the inven-
tive nation of all nations, and by the aid
of our modern machinery we can per-
form more labor for less money than any
nation of the world. In Europe it is
impossible, owing to the density of pop
ulation, to keep pace with us in the mat
ter of doing labor with machinery. In
the past twenty years we have made
great strides and have distanced Europe.