Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1903-12-02
Our National SpeculatIOns.

ways impressive. An eastern busi-
ness firm has just issued a circular
treating of the difference in magni-
tude between the specuIations of the
present time and those of an early day
and especially directing attention to
our national speculations. The circu-
lar points out that it was just one
hundred years ago that the United
States entered into speculation in
volving what was then All enormous
sum. anr which has been gigantic in
It's results. This was the purchase of
about $50, 900, coo acres of land from
France at something less than cents
an acre. There were many who
criticised the transaction as all ex-
travagant and unwarranted apprOpria-
tion of public money. Fifteen mil
lion dollars-the price of a single
small steel plant at the present day
was great deal of money in 1908,
when the Louisiana purchase was con-
summated, by which we acquired 875,-
600 square miles west of the Mississip-
pi river. 1t may be argued that this
was an investment and not specula-
tion, inasmuch as there was no ex-
pectation or desire to sell the acquired
territory at a profit. but it was spec
ulation in the sense that it's wisdom
was to be proved or disproved by the
uncertainties of time, and President
Jefferson and his supporters were spec
ulators under the definition that they
had carefully "turned the object in
mind and viewed it in it's different
aspects and relations. -
How has the national speculs tion
turned out? Out Of the territory thus
added to the area of the United States
twelve states and two territories have
been formed The population has in
creased from perhaps 80, 900 to l5,00O,-
600. The production of wheat in 1900
was 1854, 900, 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 $750,O0O,-
600. The farm animals were worth
1895, 900, 900. More than one-half the
wheat and corn crors of the entire
country come from the territory in
question. The single state of Colora-
do prcauced more gold in 1902 than
the whole United States had yielded
in all of its history down to 1910.
That same single state has produced
in all more than $500, 600. 900 in
gold, silver, copper and lead, while
another te-Montana-has exceeded
81, 900, 900. 600 in the four metals
named. The wool product of Louisi-
ana in 1902 would more than pay the
original cost of the entire purchase,
while the. corn of Iowa would have
paid it SIX times over. The railway
system of the territory embraces over
60, 900 miles. That speculation ap-
pears to have had leading part in
the building up of the United States.
Thirty-six years ago the country
made another speculative purchase,
buying from Russia the $50, 200 square
miles embraced in Alaska for 81, ,200,-
600 or little less than two cents an
acre. The price seemed to be a liberal
one for what was esteemed 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 reckless speculation
which would prove barren Of benefits.
Gen. Butler of Massachusetts, pro-
posed that we give Russia the $780,
600 a matter of friendship and ask
her to keep Alaska Other members
characterized the country as "abso-
lutely without value, an inhospit-
able, wretched and God-forsaken
region worth nothing" "a dead loss
to us anyway" and in other contemp-
tous terms. But Alaska sent Us last
year salmon and other fish valued at
50, 75O, 900. and the territory has. since
the purchase, furnished furs, fish and
gold to the amount of more than twen-
ty times its cost. In the last two years
the output of gold has been $s3, 5O0,-
0O0 The gold mines are increasing
their product, copper mines are being
developed. and railways are being
built. we have sent thore 500, 900, 600
worth of merchandise, on which, of
course. we have made profit, and our
shipments to the territory now amount
to about $40. 900. 900 year. Last year
we shipped s.. 200. 600 of manufactured
goods.
Not bad speculation after ALL
Des Moines Capital.