Mohave County miner., 1899-08-12
Commercial Expansion.

sisr on the future of America, gives
n,d for thought and jubilation as well
=, tbe best article on the subject that
Ia. appcared in the American press.
Mr. Edmonds says:
AS a country we have entered upon
,La most revolutionary epoch in our
hilnv. We have become world
o,ucr. not imply by reason of the
,te war. for that is but one factor in
tho ,itratiol. We talk about expan.
ian or roI-eXpansion 10 from political
.taudpoiLt, but from the business
standpoint expansion Is fixed ard un-
,Ierable fact. Broadly speaking, it
may BE- laid, that there L. not large
routact for iron aud steel closed any
where IN the world today but that
America sets the price. Up to five
Years ago our country was the dump
jng ground for the surplus iron and
steel product of Europe, and our i'm
nIltS VI iutS' uihouhtNu w al average
Of million tons or more. Today our
non. our steel, our locomotives, our
idge work, commadds the worlds
markets. All Europe is startled at the
change. Our entrance into the worlds
affairs as political and naval power,
A, an outcome of the Spanish war, is
not half 80 potent upon the destinies
Of the world as our almost miraculous
advance to the position of dominat-
ing power in the financial, manufactur-
ing and commercial interests of the
world Practically the scepter of
finance has already passed from Lon
don to New York ID manufacturing,
We lead all nations in the extent of our
capital and products, and in the cheap
uess of output. The opening up of
Asia and Africa to civilization by new
railroads, the construction of the trans
Siberian railroad, the extension to per-
nit the advance of England's army to
the distant parts of the Soudan, the
hridges necessary for railroad extern
Ion of England's Durham railroad
system, are all based on the ability of
our country to supply the needed ma
terials for the works. These facts are
Of wonderful import. They emphasize
the fact that our industrial progress of
the past. as marvellous as il has been,
i, to be surpassed in the future. Com.
handing the worlds trade, there is no
limit to the possibilities of growth, but
this means rivalry sometimes, even to
the danger point, from European com.
petitors.
Already England, alarmed at our
underbiddiug her ia every market on
rol and steel, is instituting parlia-
mentary investigations, and recent
contracts secured by American firms,
in competition with English houses,
have created more rancorous discussion
than we have hal for many months
from our English cou,ils. Germany
Is equally alarmed, and the stocks OF
German iron companies fluctuate on
trade reports from America something
like our prices for cotton move up or
down with every change Of the weather.
These are all new conditions for us
they are unlike anything in our past
history - and we have scarcely yet
learned to appreciate their momentous
Importance. II is all outcome of the
last three or four years. Ii is doubt
less the greatest revolution ever seen
Ia the commercial history of the world,
aud ~ man caa dare predict the full
extent of t inh Ielce upon the future
Of Am erica, as well as upon the future
OF Europe aud Asia. So far a. we are
Concerned, nothing can stop our pro-
gress unless it be unwise financial
legislation. Give us the absolute as
'nrance of sound financial policy
aud our develop ment will be the won
der of the age. Think of a country
which is idIng to its population every
ten years, by natu ,al growth and by
nmig a,ion, from l5,0)0,00J to 2),O00,-
W people, or nearly as many as the
whole South at present; country
which is making over l,1 0,00O tons OF
pig iron every month, and by l9j, will
probably be turning out not far from
1919 U, -" tons "A year; country which
has become great creditor nation in
stead of a debtor, and which in three
y ars has exported sl,5 0, 10000 more
than it has imported; which has a
homogeneous population Of 75, 900