Arizona republican., 1903-11-18
Uncle Sam's SpecuIations.

People who indiscriminately condemn
 all "speculations' fail 10 take note of the fact that the element Of speoula- tion is an important factor in nearly
 every form of business. The Chicago
 Mining World very pertinently sug- gests that Uncle sam himself is quite
 speculator. in that Tt was just 100 years ago that the United States en- tered into a speculation involving what was then an enormous sum. and which has been gigantic in its results. This was the purchase of about 56O, 000C coo
 acres of land from France at some thing less than three cents an acre. There were many who criticized the
 action as an extravagant and unwar- rantable appropriation of the public money. Fifteen million dollars-the
 price Of a single small steel plant at the present day-was a great deal of
 money in 1903 when the Louisiana pur-
 chase was consummated, by which we acquired S75,OOO square miles west of
 the Mississippi river. It may be argued
 that this was an investment and not speculation. inasmuch as there was
 no expectation or desire to sell the ac-
 quired territory at a profit, but it was a speculation in the sense that its wis
 dom was to be proved CT disapproved
 by the uncertainties of time. and Presi-
 dent Jefferson and his supporters were
 spectators under the definition that
 they had carefully turned the object
 in mind and viewed 1t in its different
 aspects and relations
 How has the national speculation
 turned out? Out of the territory thus added to the area of the United States twelve states and two territor-
 ies have been formed. The population has increased from perhaps 5O,OOO to 15, ,O0O, ,OOO. The production of wheat in
 1900 was 64.OOO.OOO bushels, valued at
 ten times the entire purchase price.
 The value of the wheat, corn. cotton, oats, rye, barley, hay and potatoes produced in 1900 was over s750 900, 900. The farm animals were worth $S25, 900 OOO More than one-half the wheat and corn crops of the entire country come from the territCry in question. The single state of Colorado produced more gold in 1902 than the whole Unit ed States had yielded in all it's history down to 1S40. That same single state has produced in all more than $S00,000,- 900 in geld, silver, copper, and lead, while another state-Montana-has ex- ceeded $1. 900, ,OO00, ,000 in the four metals named. The wool product of the terri tory in 1902 would more than pay the original cost of the ertire purchase, | while the corn of Iowa would have paid it six times over. The railway system of the territory embraces over 62, 900 miles. That speculation appears to have a leading part in the building up of the United States
 Thirty-six years ago the country l made another speculative purchase, l buying from Russia the 59O GOO square l miles embraced in Alaska for $7 200 900, l or a little less than two cents an acre. | The price seemed to be a liberal one for what was esteemed a vast field of | ice inhabited by polar bears and the | selling country was doubtless well | pleased with the trade. The purchase | was ridiculed without stint, and was | bitterly opposed by many members of | congress as a reckless speculation | which would prove barren of benefits. | Gen. Butler, of Massachusetts, propos- | ed that we give Russia $7,2OO, 900 as q | matter of friendship and ask her to | keep Alaska. Other members charac- terized the country as absolutely | withoue value" "an inhospitable, wretched and God -forsaken region worth nothing" "a dead less to us anyway" and in other contemptuous terms. But Alaska sent us last year a