Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-08-30

ton becosne suy'h part Of our lives that
we viii not reiinquish them without a
struggle. OF course many OF these nee
essa rics of life depend for their continued
production np)a The amount of sacrlfice
We l0Ne 10 make L. obtain them and the
maintenance OF their production depends
upon bringing them wftnin the restricted
pur' haslng power of the consumer.
\ necessary Of lie AS thus defined may
be q necessary AIT 81 and an impossibilhy
At =. HenGe. al the energies Of tne pro-
Queer at sUCn period is bent upon the
pros an: How can bring the price OF
his taing within the means, the dlmin-
SHED means of those who wan: IL al 81
.tIA do not want it at s.?
When you spread this idea and m Ike ii
active all over g9lp trade 81 the world or
even over tle trade OF the United States
alone you can see what power Il is
Ii sets Inventive genius at work in all
d1rccions- lt makes economies possible
which were never dreamed Of and never
could be dreumed OF. In the lays of pros
perry. I'ass reduction OF the cost Of
production = carried ali over the couE-
Try ana throughout Qll OF the industries
Il is. indeed entirely Within bounds TO
say that the direct result of the hard
ttmes l. that We have lowered the cost of
production Of all Things on an average
more tnan 10 per cert See what our
mEls and manufactures have done. Our
railroads, in their way. have done the
same thing. Il Is q waste of money to
use small engines ana light rails and the
old-faShioned cars. Ii railroad wants
20 40 business today ii must have heavy
steel rails. heavy and powerful engines:
II must have the small barns. which we
now use for freight cars. doubling and
trebllns t'he capaeIty. Railroads must
20 ghGir work cheaper or stop trying TO
DO It. All orr earbors are TO be dredged
10 receive the greater ships which we
nave been forced 10 buFd. the greater
MIS- 10 the work at less price.
THIS Improvement ana economy has
heen very searching and powerful. II
meant life. and neglect of 1t meant death
But * has already been said that such
economy was impossible in prosperity
Fhis is for thc very sufficient reason that
economy in prosperity is only adding To
profits. In adversely it is very profit it,
self. III you say 10 a man who is making
S,o0eo a year you could make $4,000 more
If you would delve ana labor and strug-
SIZE the chances are that he would not
iina that $4,000 worth The struggle. But
# You showed him that the $4,000 saved
meant the life of his business, and the
loss of ii Bankruptcy, you would set all
ms powers to work. and thar so 0o0 would
be we'll worth his while
Permit me to repeat that this saving of
cost has gone all over the country and
the world, and over all industries. No
50 very lonS ago a great iron master said
mat when iron would not bring SIS ton
ne would pile it up like gold. Today he
would have to take $40 or keep on piling.
Now this saving OF cost of production
we carry into The next period of prosper
ity with all that thay implies With the
next run of good prices. lower though
they will be than for former years. we
snail have a similar margin of profit and |
wealth Will resume ITS accumulation.
We have also been saving money. We
nave been acCumula ding capftal, capital !
Wnhh is free from encumbrance, which |
is aisposyh9e to the best bidder We /
nave, as q single item. added 600 miles to
our railroad. and $50, 600 TO their cap
tai ana value. Our savings banks show |
ssnllar increase. Indicative of much we |
g not see. One hundred and eleven mil |
ton dollars measure the increase in New |
York state alone In the banks of the |
same state sl1S,0 .0e0 have been piled up |
IN excess Of the best previous prosper
@tis year We have reorganized our great /
trunk lines beyond the Mississippi on so |
sound a basis fhaT the hope IS nos unrea-
\ any more than will the Pennsylvania I
tsailroad or the New York Central
Nnether the time has come for another |
period like that between the Years 1879 /
ana 1872, We cannot be utterly sure for +
White We can discover the booming or thu
great headlands of the SHORE we can
meyer be sure of tne distance.
Nevertheless. of fiaiS we can he sure
some OF the foundations of prosperity
nave been laid broad and deep. ard 4
esihot pc long before the supefstrucaure
my OF the Fast and worthy Of a world
!" h4ch however 1t may seem to faiter is
iIWStss steadily advancing toward a rich
"a prosperity anu greater civilization
-
mere IS talk of renewing the theatrical