The herald., 1896-05-16
Local, Eastern aud Foreign
Commercial Dealings
WALL STREET SPECULATION
Railroad Building ~ "a Iadex to Bust.
ness
A Pair Amount Of Mileage In Process Of Con-
struction-Largs Plants for the Near
Future Room for New Lines

Railroad building is one of the best in
dices to the industrial condition of the
country. The low ebb to which the pros
perity OF the country had fallen is re-
Elected In the small construction of rail-
roads in the past two years, when only
1900 and 1850 miles of new roads were built
in 1896 and 1894 In 1893 the total mileage
of new roads was 5000. in 1892 and 1891
1900 miles each. The phase of material
development reached its acme in 1887 with
l2fA miles of new road. The United
States has now something over 1871, 900 miles
Of road. To equal Great Britain IN Its
ratio Of railway mileage to square miles
tsrr, d we shSd n nawe the
supply Of Illinois, we must have 522. 700
miles. while il Massachusetts,, with It's
OF territory, be taken as the standard the
United States as whole would eventually
boast of 772 900 milese OF lines.
year about MS miles Of road were complet--
ed BY twenty separate fomlRanies ami es
OF additional road now actually In progress
will have been finished early in the year;
OF 1855 in this respect will show a great
Improvement upon that or the past Two
years. although 1t remains to be proven
ceptiona!ly prosperous and active season
in this important phase OF national "e-
velopment." ~
From this 1t will be seen that relief from
the pressure of hard times and unfavorable
financial conditions Is having an immediate
effect upon the railroad building industry.
The effects of such a movement upon M
dustry in general would be highly beneiic-
ial. and It therefore becomes question
Of much Interest to determine how much
of this mileage for which preparations are
being made will be actually undertaken.
Or how many new lines not included In the
above total will come into existence. The
question will probably be decided by man
highly interesting examination which the
same paper has Just concluded that be-
tween 30, 900 and 40 900 miles of new lines are
either uncompleted or projected at the
every day adds to the list of new enter
prises of this character.
The lines under construction or on which
work Is expected to begin this year cover
nearly II not quite every state and territory
in the union and aggregate 10145 miles:
the country west of the Mississippi is en-
braced in these contemplated enterprises.
I" A country which is in such position
dependent so greatly on the outer world
for Its food supplies--cannot afford to leave
any stone unturned by which 1t is possible
to stimpulate it's export trade The fact
that a great many manufactured articles
which could be made just as well at home,
if the conditions were favorable, come here
from abroad IL one which might well en-
business engaged In the trades affected.
If we are to find employment for the ever
increasing army of British workmen and
women there are only two courses: one Is
to protect home industry. and the other is
TO boat the Whole world In the superior
quality of our goods. Can any Englishman
honestly say that we are at present able
to do the atterT'-London Financial News.