Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-05-03
The Nations Savinga,

From the New York Tribune
Americans are growing too m Oldest. II used
to be said that the Yankee nation was intoler-
ably boastful But now even the bare truth
strikes many as exaggeration, so habitusted
are they to undervalue their own coun try and
lite achievements. Thus several have Questioned
the statement made. not in a bosstful spirit.
that the mere savings of the nation in a month
would more than purchase all the ships OF war
in the harbor of New York There were thirty-
i've OF them. and perhaps with their equipment
they may have cost more than sl.000, 600 each,
but can hardly have averaged e. 000. 900. Are
there Ameri cans, then, who do not realize that
the nation dds TO lite wealth more than e70,-
600. 900 per month?
The census estimates are not necessarily 90
curate IN this matter, and Vet they embody the
best approxim alton which some trained men
have been able ~ make. According 20 these
the increase IN wealth from 1850 60 1890 was
more than sls.000. 000. 900. IL the gain had
been equally divided a would have been el,-
soO. 100000 yearly. but il is evident that tho in
Crease was smaller during the carly years Of
the decade and largest during the later years.
Moreover, II has been expanding about three
wears since the last census was. taken and these
have been years of unprecedented progress.
Ii does not seem reasonable TO suppose that
the increase in wealth Is less than e. ,0O0-
100000 yearly. or Sl66 200. 900 every month.
But this increase, ii may be said, represents
something besides savings. Strictly speaking
II does not Whatever is added in any year
TO the wealth of any individual OF the en-
tire population is the which he might
have expended, had he chosen, in any form OF
enjoyment without trenching upon the capital
with which the wear began. Much of the farm
ers savings must always be found in the in
creased value of his farms and stocks. IL
householder, much Of his savings must be
found in the higher value of his dwelling. The
franra fl.ra a.,l 10 xa.l
real a. if the amount saved had been lodged in
a bank. In a narrower sense the bare use OF
property in this country seems TO return on the
whole more Than 8 per cent yearly, besides
compensation for all the labor employed on it
or in using 1t. This is indicated by the current
rate of interest for money loaned. But IL the
bare gain on property productivity employed
be reckoned. and at no more than per cent
YEARLY. that increase would exceed 81. 500 .000.-
OOO. besides the direct savings from the wages
of labor
Much has been said of the enormous con-
sumption of goods and products bv Americans.
Ii Is indeed the fact that in many branches
about third of the entire consumption Of the
world appears TO be by this one nation. But
a large part Of this very consumption il in per-
manent additions 90 the wealth of the people;
in building new and more desirable houses, in
more commodIous structures in cities and
towns. in better facilities for travel throughout
the country and in the towns. in more perfect
facilities for conveying information. and in
more extensive equipments for every variety Of
industry from farms TO the shipyards which
turn out our armed vessels But these expend-
itures so greatly increase the effectiveness Of
all labor that from year TO wear the gain in pro-
duction far outruns the gain in population No
part of the nations wealth is more truly worth
what il has cost than most of these invest
ments They represent consumption which
Ii at the same time a saving
More than ten I cOmrutel by
statisticians of distinction that the yearly saw
inSs of this nation exceeded those of Great
Britain. Germany aud France combined. Now
il would assuredly be safe to say that the COM
bIned savings of all the foreign nations repre-
scented in the naval display would not equal
those o. the United States alone. And in these
days savings mean power, whether in pace or
in war.