The Saint Paul globe., 1901-01-02
SIMMER & THOMAS,

in the United States. In 1890, the crop
area had reached $50 0G03, ,0G0 acres: OF
which 2zo,0G00O0 acres, or &c per cent was
situated in this country These facts
illustrate the extent to which the world
has become dependent on the United
States for its food products. The country
which leads in the worlds supplies of
grain, cotton and iron is destined to
direct the commercial fortunes of the
world. So in respect to railroad trans
portation we have surpassed, all other
nations Combined Europe has now
$4,000 miles OF road. while the United
States can boast of $4,000 miles The
mileage of the entire world is now about
433 900 miles, of which 43 per cent Ia
located in this country
Inc introduction of steam power has
been the great revolutionizing agency Of
the nineteenth century. In the application
or this new force we have more than
kept pace with all other countries. ex-
cepting possibly Great Britain In 1895.
the combined steam force of the Euro
pean countries was equal to Sc. 600 ef-
fectlVe horsepower, distributed among
50ooVo,OoO0 of people. In this country at
the same date. the steam force in en-
ployment was 100000 horsepower dis
tributed among 7o,O00 coo fnhabttan nts
mus while in Europe there is but one
IN the United States there Is one horse
power to every four iniAahitants. This
comparison speaks volumes as to the
economizine Of working energy in the
New World over what has been accom-
plished in the Old World tits the great
er effectiveness of working force main
tained steadily for the last century.
winch mas been one Of the chief unseen
forces carrying our industries steadily in
ADVANCE la r1fi
Concurrentiy with the centufy's extra
ordinary rate of Increase In the produc-
tion or commodities, there has been a
stiH higher scale of expansion in the out
put of the precious metals Within the
hrst half of the century. the worlds pro
'uuct'on OF gold amounted to $3.50, ,GG0 o O.
or an average of SIG, ,elaD, 900 per year For
the second fifty years, the worlds OUTPUT
has aggregated Sc, 600. COO, ,Geo, or at the
average rate of $135, 600. coo Der annlln1.
while, for the year fs99 the product was
S5la, U0,GeO, or at the rate OF s3.I5o.D-O Al1
per decade
me United States. though rapidly in
creasing its product within late years
has not kept pace with the progress IN
the world yield; our quota contributed
TO the whole product having been IN
loSo' 70 per cent. and in 1893 only Is per
cent What we have failed to take from,
our mines, however, We have not failed
10 get In exchange for our rapidly ex
Pandlng exports of merchandise together
with relative reduction in our imports
the national stock Of gold coin and bul-
non having increased over S400. 900. 900
since 1886. 1t is equally fitting and for
tahate that, concurrentIy with this large
increase IN our stocks of the yellow met
al congress has placed our whole finan-
cal system upon the gold basis-a most
peltting preparation to our entry upoa
lne vast commercial and financial opera-
lions that await US in the new century
we might have well shrunk from the
great destinies and the high responsi-
plhtles that face us in the twentieth CEN
tury, II we were not guarded by a sound
system of finance
The close of the century naturally reaos
one to more casual retrospection of
the events of the past especially with
. reference to their bearing or the fu-
ture Using the light of the past to
1liumine the coming century we see
promises of great advances for the
United States in every direction. The
elementary force of the nineteenth cen.
tury civilization has unquestionably been
the humiliation of distance, which has
been largely accomplished through the
genius of American invention Fulton
stevenson and Morse were leaders in the
wonderful silent revolution which has
naeie of prosperity; but, lacking the es-
sential foundation of sound financial
system upon which to build all their
achievements might have counted but
little for US as people. Happily. this is
something We do not have to even con-
slider. What we may deal with here are
facts. We need not look backward fur
ther than four years TO be impressed with
the marvellous possibilities of deyelop-
ment under favorable auspices During
this period our financial integrity has
been unassailed and therefore confidence
has supported every enterprise The re-
suits are logical but none the less
tremendous The European trade bal
ance in our favor for the period men,
toned has reached unparalleled proper
tons, has enabled us to loan money to
Europe, not merely in private channels,
but for governmental purposes, and by
reflex action has induced enormous in
Vestnfent in American business interests
First the acquisition Of the Hawaiian
Islands, and since then the placing of
The Philippine Archipelago under Aneri-
can control have completed the avenue
Of trade to the very door of Asia. whose
SOt.po COG of population will soon throw
off reacuonary influences and join in the
modern progress. What this means to
this country can be only family eoniec-
tured. To say that the transcontinentaa
railway HneS and he entire western sec
ton OF our land will enjoy prosperity
heretofore not dreamed of, seems like as.
serting a mere truism None the less
will the great markets of the Middle
West and of the East snare in the great
commercial activity. The metropolis of
the union bids fair to become, ere many
years have passed, the financial center
of the world.
The trial as by fire, through which so
many OF our great railroad corporations
passed some six or seven years ago, purg-
ed t:acm Of considerable dross and has
left them in such healthy state as to at
tract investment at home and abroad.
Currency legislation has been wise Gov
eTnmental relations with foreign nations
are most ably conserved upon friendly
lines, labor is well and profitahly em-
ployed, so that the people are adding to
savlngs bank deposits at the rate OF a
hundred millions of dollars a year, and
| American energy Is conquering the mar
kets of the world. What wonderful ar
ray of facts. And their meaning is that
prosperity is to continue just SO long
as We abate not a jot nor title in our.
national advancement through Individual
effort which benefits the whole mass.
/ ~ =,