The Savannah morning news., 1900-12-31
lC3.4io.786 BID. ol5. % Os.s7l.264 l26

D. will be- seen that the European pop
unt.ou hHs on the average. risen 10 "a
Dimes that Of 1850. whilst that OF our own
country has expanded liis times. our ter
utoral area has risen from LOIS. 000ooi
acres to 24os.000 .ooo-an increase OF is6
per cent.
The great glory OF this territory lies
90 the rapldity with which it has been
converted into the wealthieat and most
fertile nation on the face OF the globe
q started IT. career By bravely winning
ite liberties and organizing them into q
Hpubie which has continuously con
saidated It's strength and steadily deycl-
oped into the wisest and most pacific form
81. got eminent the world has Vet witness
ei The nation has been bull. hy rs
own muscle. integrity and Industrial gem
na and Is the product of the finest races
e mankind. Thanks 20 Providence the
magnincence OF our success must be large
o credited 10 the unsurpassed richness Of
our territorial heritage. In varieties Of
spi and climate, in richness Of mineral
deposits In forest resources. in magnin-
e'nce OF river and lake. and IN our va-
re'ics aud llmitless sources Of under
ground wealth. We have formed bases or
Industry uuequaAed elsewhere on the sur-
i1ne 81 the globe. But 20 have cultivated
i-ese resources with such inteIiIeenre
and energy as. within one century. 10
Aave created out Of them the richest
commonwealth 30 history-that is an
achievement so Unprecedented that W.
"'@N Toast over 81 with a just ami pa
T'ou- pride
The foreign trace Of the country IN
'h' hrst year Of the century. Amounted
i' s.s- 5000. In 1900 d had risen TO g. stt
'''"+-s howing an increase OF g20.g on
~ OF az the rate OF .2s5 per cent Dur
present commerce exceeds BY gf56000 Oh
i1e foreign trade OF combined Furope Ia
$50. From the latter year % 1857 Euro
pcan commerce Increased 50. 5000 900. or
ti me average rate 81 a. per cent: which
i7 nut little over one-third the rate OF
progress realized IN our own trade within
me whole century. For the last forty
years. however. We have pursued a policy
* restricting our imports by very hlgh
hrns which has had the effect OF mate
5ialy keeping down the volume Of our
Foreign commerce
Our remarkable Industrial progress has
been principally attributable 10 the fact
mat our natural endowments have quau-
hed us to surpays am other countries In
NE production OF certain 81 the leading
staples of manufacture The new product
~ the century. petroleum. for instance. Is
produced la the United states 20 the exc
output, and yields US an article OF export
worth Ndgo.c0O per annum. Also. we
have risen 10 the foremost rank a. pro-
lneers Of the worlds most important
hner. Al the beginning Of the century
lNr worlds crop 81 cotton was about
l'".Uo bales q which only 2oo0 bales
we're Grown IN the United States In
lsse-s the worlds yield was T. $500 bales
or which our Southern crop contributed
lL''Aoo bales. or s. per cent Of the whole
supply This crop yields US an annual
surplus Tor export averaging value OF
s-saV"ioo. while we retain for home man
uiacturo 351300 bales Another OF the
great staples OF commerce ia which We
nave risen to "A foremost position Is coal
Inc output may De said 90 have begun
90 a visible scale h. about 1870. when the
product was $4,000 tons. la iss9. our
product reached 2-j.o0oe00 tons. which was
teF,on tons IN excess Of the output Of
the United Kingdom aud Is equal 10 a
pr cent. OF the entire worlds supply.
1oueurfcntly with tine ceuturys eNtraor-
binary rate OF Increase In the production
81 commodities there has been stil
higher scale Of expansion In the output
OF the precious metals. Within the first
half OF the century. the worlds produc-
zion OF gold amounted to $50 01l.eO9 OF an
average OF 100000 per year. For thc
second ufty years, the world output
i'as aggregated $500 OO1o00. or at the av-
crage rate Of sl3i008.00 ger annum while.
Tor the year 1879. the product was SIS,
eOOO0 or az the rate Of N.i50.0o.0O0 per
decade The United States. though rapid
by increasing its product within late years
has not kept pace with the progress IN
the worlds yield our quota contributed
TO the whole product having been, IA $50
. per cent, AMI In 1885 only IS per cent
What We have failed 90 take from our
mines however. We have not failed 70 get
IN exchange for our rapidly expanding
exports OF merchandise together with "A
relative reduction in our imports; tue
national stock OF gold coin and bullion
having Increased over sN08o.~n since
1895. IL Is equally ntiing and. fortunate
that. concufrcntly with this large IN
crease Ia our stocks Of che yellow metal
Congress has piGcrd our whole financial
system upon the kold hasls--a most be-
ntting preparation TO our entry upon the
vast commercial ana financial operations
that await us Ia the new century. we
might well have snrunk from the great
dcstinies and the high responsibilities that
face Us IN the Twentieth century, n we
were not guarded and guaranteed by