The times. [volume] (Richmond, Va.) 1890-1903, 1899-01-01
A GREAT WAVE
OF PROSPERITY.
1t is Sweeping Over the Land Far
and Wide.
THE RAILWAYS A BAROMETER.
Their Operations During the Past
Year show the Trend Of Business
In Almost Every Limestone
Solid Facts aud Figures.
THE RAILWAYS A BAR0MET TER.


WILLIAMS. Of the Banking House Of John
L. Williams & Sonsl
year ago there were stir 20 be
heard occasional cries Of where is the
Mckinley boom?" where IS the wave
of prosperity" and = certain remaining
spirit OF dissatisfaction and ciscontent
was seeking relief OF feelings by occa-
sional nings at the administration, and at
the general condition Of things. because
wealth was not being distributed on a
silver waiter freely to everybody every
where
Gradually end almos, inpercepitiJly
tho tide did turn and mas been gathering
strength until at the present rims there
IS sweeping over this broad land wave
OF Industrial and commercial activity.
the like Of which has scarcely ever been
seen
To whatever II may be attributed. here
10 10: and tho evidences Of It are not all
from one locality. or one line OF bust
ness. but the testimony IS borne down
upon US from all secfons and all lines
OF industry. almost every town and ham
let seeming TO feel its bonefcent results.
CALAMITY HOWLERS HOLIDAY.
The calamity bowler has at last found
chance for holiday because people
haven't time to listen. and only few
still find heart 10 raN against capital
and condemn all that stands for success
full business sagacity and enterprise. and
bemoan hard times while around their
very doors labor can scarcely be found.
so great Is the demand for II 10 prose
cute the great development actually in
progress
There has probably never been time
in the history of this country when so
many men have been employed at so
high rates Of wages as at the present
time
During tho past few years. all kinds OF
storms and troubles have disturbed our
financial and commercial system: and at
one time tho future looked gloomy in
deed But the great natural resources
az the country have made Improvement
Inevitable. and. when il did start, ire
'' It ssarry took a ar war to clear
tho atmosphere and n IL together the
sections Of the country in order that
we all might work, shoulder 20 shoulder,
for a future great destiny.
The New Year IS opening with bril-
liant prospects. everything indicates II,
and all sections feel H.
Wall street being q principal nerve cen
ter we naturally look there as 10 Kind
Of barometer We find the transactions
on the Stock Exchanges i'm recent weeks
have been almost without parallel and
continuing day after day with almost
ceasesess regularity and a steady upward
tendency. A seat" I'm the stock EX-
change IS now quoted al S2ooD0. being
within 1900 OF the highest price on re-
cord. Clearlngs through the Clearing
House Association are the highest ever
reached. and the deposits Of Clearing
House Banks aggregate over SSooeovo
the next highest being 500 100000 I'm July
1891.
THE GOLD RESERVE
The United States gold reserve amount
ing TO &2is,oo,cco is the highest ever at
tained.
The balance Of trade in favor Of the
United States for the present year reaches
tho enormous sum of 5000 10000
Bank cloarings for the third week In
December reached 1856 6S3S76, the next
highest on record being Sl59.e0o) in ISL
In the iron business we also find great
activity. and books fun Of orders, one
order for rails being recently placed for
10000 tons; and so We might continue
for column after column.
While activity seems so be the order Of
the day all over the United states, still
this has been said 70 be distinctly the
South's opportunity Here, too. we find
so much 10 prove it that 1t is impossible
TO enumerate
One Southern railroad reports that dur
ing the year ninety-hve new industrial es-
tabllshments have located on its lines.
extensive improvements have been made
on many other roads 10 take care Of bu-
siness offered II.
The Manufacturers Record reports that
over g 900 new industries of various kinds
have been projected or founded I'm The
South in the past year. In the same pc
ri0d there have been over 5000 Spindlcs
and ; 90 looms added TO our textile mills.
But one of the best barOmeters of trade
is the great railway system. reaching ont
its arteries into all sections and feeling,
as IL does the influence Of every branch
OF business.
The Importance Of this great system
and it's mutual defence with the welfare
of the public Is appreciated when 1t is
known that IL gives employment 10 over
$4,000 men. distributing 10 them annually
nearly $500 600 on pay rolls OF the
total mileage Of the world of 10000 miles,
America IS credited with 23 90 miles
AS Will be seen by the following figures
furnished by the Railroad Gazette. the
mileage constructed in 1898 has not been
phenomenally large IL. however. IS the
largost since 1892. and is well distributed
throughout the country Minnesota leads
with 25S miles followed by Texas. Louisi-
ana and Alabama In the order named
OF the total OF 2 SCI miles. 1856 miles
are credited 20 the thirteen Southern
States. the largest being Texas and small
est Kentucky.
RAILWAY CONSTRUCTION
The following is a table Of Miles con-
structcd each year since l,Ni.