The Washington times., 1901-12-29
Mr.. Cicrs ON Prosperity.
Henry clews. in commenting on the

Henry Clews. in commenting on the re-
turns for the year. says:
This is the closing week OF a most
remarkable year. While all other CONNER
cial and Industrial nations have been
suffering reverses Of greater or less sever
/ ity, the United States has enjoyed an
1 other year OF uneXampled prosperity far
/ exceeding the most optimistic expccta-
| tions Germany has been passing through
| a period OF distress. induced by excessive
I industrial expansion and oyerspeculation,
while Great Britain has suffered severely
! from the Boer war. France seems to have
( been fairly prosperous. but Great Britain
and Germany are really our chief rivals in
I commercial or industrial supremacy. and
it is with these only that coTI parsons
are of interest Meanwhile. the United
States has made gigantic strides in the
/ production OF wealth with almost SUI
preme indifference TO conditions in other
parts OF the world. In these days OF
close interdependence the spectacle OF a
country making such remarkable and con
tinuCus exhibitions OF growth, while its
chief rivals remain a a standstill or ret
rograde. challenges attention.
There l. but one explanation for such
situation, viz. that the United States
haz just passed through one of the great
bursts OF national development which
have always occurred at very well defined
periods. and which have usually been
termed 'booms. This particular boom
which began with the defeat Of Mr.. Bryan
in 1896. has been prominently character
tied by extraordinary industrial activity.
/ The growth Of manufacturing enterprise
/ has many times exceeded the growth u
agriculture, and We are rapidly changing
! from an agricultural to d manufacturing
! nation. with our magnificent mineral re-
Z sources, with unequaled facilities for
I transportation. with an unlimited supply
/ OF capital to aid enterprise. with a better
supply OF skilled labor than any COM
: petitor. with an unrivaled capacity for
/ organ i2ation and the use of machinery.
ail lacked with an abundance Of energy.
/ brains. ana opportunity; with all these
requisites in plenty, is it surprising that
our situation is the wonder and envy
Of the world2
The most extraordinary feetur, OF our
/ home industry has OF course been the de-
I mand for iron and its products We have
already surpassed Great Britain In mer-
! chandise exports in pig iron output. and
in coal production For this great ana
continued activity in iron the chief eX-
| planation IS the demand from railroads
| for cars. engines. rails. etc. To secure
/ the highest efficiency at lowest cost the
railroad systems Of the country are being
practically reconstructed. The big modern
freight car which carries most economical
ly demands heavier rails. stronger bridges
and larger engines. New ana better ter
minals are also essential: as witness The
contemplated expenditure Of $4,000 600 by
the Pennsylvania for an entrance to New
York City. san another large outlet for
iron is the modern method Of constructing
high buildings. which promises 10 continue
until the business sections OF Our large
cities are practically rebuilt
So-nmuntiS al Interests.
The great consolidation enterprises