Arizona daily citizen., 1901-01-04
LIGHT or PAST
ILLUMINES FUTURE.
4 Hsalty Condition ofthe Railroads
and other Great Investments,
and a Great fsndsacy to Pash
oaEard 10 Greater ETpan.
sion.

NEw YoRx, Jan. 4.-Hsnfy C!ews &
Co. in the first review issued In the new
century says:
The close Of the century naturally
leads one to more than casual retros-
pection of the eyenis of the past, espec-
cialiy with references TO their bearing on
the future. Using the light of the past
to illuminate the coming century we
see promise Of great advances for the
Upited States in every direction. The
elementary force OF nineteenth century
civilization has unquestionably been the
annihilation OF distance. which has been
largely accomplished through thegenius
of American invention. Fulton, Steven
son and Morse were leaders in the won-
derful silent revolution which has placed
our country upon the very pinnacle of
prosperity but, lacking the absolutely
essential foundation OF q sound financial
system npon which to build, all their
achievements might have coupted for
littie TO us rs people. Happily. this is
something ws,do not have to even con-
slider. What We may deal with here are
the facts. We need not look backward
further than four years to be impressed
with the marvelous possibilities of de-
yelopment under, favorable auspices.
During this period our financial integri-
BY has been unassailed, and therefore
confidence has supported every enter.
prise, The results are logical, bat none
the less tremendous. The European
trade balance in our favor for the period
mentioned hass reached unparalleled
proportions. has enabled as 10 loan
money to Europe, not merely in private
channels, but for governmental pur.
poses, and by reflex action has induced
enormous investment in American bust.
ness interests. Fret the acquisition oi
the Hawaiian Islands, and since then
the placing OF the Philippine Archipel-
ago under American control have COM
pieted the avenue of trade TO the very
door OF Asia. whose 800, ,000, 600 of popul.
alton will soon throw off reactionary in
fluences and join In the modern pro-
gress. What this means TO this country
can be only family conjectured. To say
that the transcontinental railway lines
and the entire western section OF our
land win enjoy prosperity heretofore
not dreamed OF seems like asserting a
mere truisn.x None the less win fhe
great markets of the middle west and OF
the east share in the great commercial
activity. The metropolis of the Union
bids fair to become, ere many years have
passed, the financial centre Of the
world.
The trial rs by Are, through which 30
many OF our great railroad corporations
passed some six or seven years ago,
purged them OF considerable droes and
has left them in such healthy state as
to attract investment at home and
abroad. Currency legislation has wise.
Governmental relations with foreign
| nations are most ably conserved upon
friendly lines. labor fs well and profit
ably employed, so that people are ad-
ding TO savings bank deposits at the rate
OF hundred millions Of dollars a year.
and American energy is conquering the
markets Of the world. What wonder
full array Of facts. And their meaning
is that prosperity j. TO continue just so
long as we abste. not q iot nor little in
our national .advancement through in
divtdual effort which benefits the whole
mass. There will In the very nature Of
things be periods Of halting, perhaps
setbacks, but the tendency is onward.
The twentieth century will witness, we
| believe, achievements of science and
conquests Of commerce far beyond our
present ken. Education, enfghten-
ment and the keen competition Of mod
ern times assures, as Of wondrous events
still to come. With such basis as we
possess, upon which to predicate the
future, we may confidently begin the
new century with unlimited faith In
legitimate American Investments.