New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-02
THE NATIONS SATINGS.

Americans are growing too modest II used
10 be SAID that the Yankee Nation was in
tolclabv boa-tful. But now even the bare
truth strikes many a cxaggcration so habit
mated are they 10 undcrvaluc their own coun-
try and lis achievements. Thus several have
questioned the statement made not in boast
full spirit, that the mere savings OF tho Nation
in month would more than purchase all the
,hips Of war in the harbor OF Ncw-l OK.
There were thlry-iivc of them, and perhaps
with their equipment they may have cost more
than - 900. 600 each, but can hardly have
averaged So00O,00O. Arc there Amcn-
cans. then. who do not realize that the Nation
add, to lis wealth more than S70,OOO,OOO per
month
The census estimates are not necessarily ac-
curatc in this matter, and yet they cmbody the
best approximation which some trained men
have been able to make. According TO these,
the increase in wealth from 1850 to 1890 was
moro than SIS, 0O0,o00, 900. If the gam had
been equally divided it would have been
81 500, 600, 900 yearly, but it is evident that
the increase was smaller during the early years
of tho decade. and largest during the later
wears Moreover, it has been expanding about
three years since the last census was taken, ana
these have been years OF unprecedented prog
rcss. Ii does not seem reasonable TO suppose
that the increase in wealth is now less than
-. 900 600 600 yearly, or SlGG, 600, 900 every
month. But this increase it may be said, repre-
scnts something besides savings. Strictly speak
ing. it does not Whatever is added in any
wear 10 the wealth Of any individual of the
entire population is the sum which he might
have expended. had he chosen, i'll any form OF
endowment. without trcnching upon the capital
with which the year began. Much of the farm
err, savings must always be found in the in
creased value of his farms and stocks. If a
householder, much of his savings must be
found in the higher value of his dwelling. The
gain 10 either Is rs real, and the self denial rs
real, as if the amount saved had been lodged
in "A bank In narrower sense the bare Use
of property in this country seems 10 return on
the whole more than 3 per cent yearly, besides
compensation for all the labor employed on it
or in using it, This is indicated by the cur
rent rate of interest for money loaned. But if
the bare gain on property productivity en-
ploycd be rccloncd, and at no more than 3
per cent yearly that increase would exceed
81 800 900 O00. besides the direct savings
from the wages OF labor
Much has been said Of the enormous con-
sumption of goods and products by Americans
II i, indeed the fact that in many branches
about third of the entire consumption Of the
world appears to be by this one Nation. But
4 ldrgc part Of this very consumption is in
permanent additions 10 the wealth of the pco-
pic in building new and more desirable houses
i'm more cDInmOdOuS structures in cities and
towns. i'm better facilitic, 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 the farms to the shipyards
which turn out our armed vessels. But these
expenditures 50 greatly increase the effective
ness of all labor that from year To year the gain
in production far outrun> the gain in popula-
ton. No part of the Nations wealth is more
truly worth what it has cost than most Of these
investments They represent a consumption
which i, at the same time saving.
More than ten years ago it was computed by
siatl>tcians of distinction that the yearly
savings of this Nation exceeded those of Great
Britain. Germany and France combined Now
it would assurcdly be safe to say that the com
bincd savings of all the foreign nations repre-
scented in the naval display would not equal
those of the I'nitcI states alone. And in these
days savings mean power, whether in peace
or in war.