Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-10-28

/ United States increased from s549,SIi,-
BIN in 1870. 10 81. SO. So, 023 in 1895. an in
crease Of . bout go per cent. under the
| gold standard.
! The number of depositors in the saw
| ings banks of the United States in
/ creased from 1890. Si3 in 1870. to 1875.
/ SO in 1895. and their savings per capita
| increased in the same time from $14.26
I to S25.SS.
The public debt of the United States
was Sl.g22 5l7 1924 in 1880. or 1888 per
capita; in 1890 it was only 1915. 962. 112,
OF s14.e3 per capita-a reduction of
more than so per cent in the total and
of 81 per cent. in per capita of indebt
edness-under the gold standard.
The state debts of the United States
amounted to 1904, 50o,674 or 1913 per
capita, in 1880; in 1890 they amounted
10 1872, $40, $50 or only $3.50 per capita.
The net Federal. state and county in
debtededness in the United States was
s2,336, 94s,0S4 in $780, or S46.59 per capita;
in 1890 it was 81, 2S1 ,020. $40. or $50 6 per
capita-a reduction of 50 per cent.
Farm property. including lands.
fences and buildings. was valued at
s., 2C2 .oo0,ooo in 1870 and had increased
to sI3.279, 600, COO in 1890.
Farmers owned 1886. 600 900 worth of
improvements and machinery in 1870,
and Sl9i 600. 600 worth in 1880.
J Farm live stock amounted to sl,525.-
e00o00in 1870, and to s2.20S. 900. 900 in 1890.
/ Acreage of farm lands in 1870 was
, 4o7, 1904: in 1890, 623.21S, 619-an in
! crease of over so per cent.
! Building and loan association depos-
/ its were of little consequence in 1875:
| in 1892 they reached a total of $500, 900.
| 600. and in 1896 amounted to $3.50, 900,
0oo- all under the gold standard.
| The exports from the United States
have increased 13i per cent. since 1877:
under the gold standard.
! Farm productS-grain, cotton, to-
hacco. meat. live stock, cattle, sheep
and hogs-were exported in 1872 to the
amount of $685.. .631: in 1892. $154, 4SO.
| Si3 worth of these articles went abroad
| Freight rates on wheat from Chicago
10 New York have been reduced from
1919 cents per bushel by lake and
canal in 1879 to All cents in 1895; from
33.2 cents. all rail- in 1873, to 12.17 cents
all rail. in 1895.
| Average wages in manufacturing in
! dustres increased from 1928 in 1870 te
| $iSi in 1890. or SO per cent. (See census
' reports.)
| The purchasing power of wages at
| The same time increased from 1l4l in
1870 TO 172.1 in 1890. taking 1860 as a
basis of comparison at 100
| \ one-horse pillow that cost GA bushels
| Of wheat. or 1871 bushels OF corn. or .,
bushels OF oats in 1878. could be bought
| in 1889 for 3.S bushels of wheat, So
bushels of corn or lis bushels of oats
A binder that cost the farmer 277.7
bushels of wheat in 1872. could be
| bought for 1919 bushels i'm 1889.
A one-horse cultivator that cost 6.s
bushels of wheat in 1875 could be
| bought for Al bushels in 1889
A two-horse pillow that cost 17.6 bush
els of wheat or 500 bushels of corn in
| 1873. could be bought in 1889 for 49, I
bushels of wheat or 31.2 bushels of corn
| The volume of money in circulation
! in 1872 was $73S. 309. $40. or $3.50 per
capita. including deprecated paper; in
1896, June 80 it was $1.506 631 OPS or
S21.l0 per capita. Counting the money
in the treasury there was in the United
| States in 1872 $3.50 per capita, which
| in 1896 had increased to $32.S6 per
| capita.
| Money increased in supply so much
! more rapidly than the demand that
interest rates have declined 25 per cent
since 1873.
No other nation on earth can match
| this story of progress.