The Intermountain Catholic. (Salt Lake City [Utah] ;) 1899-1920, 1905-09-23
UNCLE SANS WEALTH.
Ranks Highest in the Family OF
Great Nations.

Prof. James c. Monaghan, formerly
of Mount Pleasant, Providence, r. l.,
and now chief of bureau of statistics,
Washington, D. c., recently delivered
an able lecture on the Expansion of
Wealth in the United States" before
the Catholic Summer school, Cliff Ha
ven, n. Y. Mr.. Monaghan is well
known here, having graduated some
years ago from Brown university, says
the Providence Visitor. He is consid-
, cred one of the most erudite men in
the department of labor and commerce.
His address, which follows in part, is
replete with useful information:
Half century ago the wealth of the
United States was estimated at lit
tie more than $1,000, 100000. AT the
present time it is placed at $110OOO,O 00,-
600. During this half century the popu-
lation of the country multiplied by less
than three and one-half, while the
wealth multiplied by little more than
49, During this period every PERSONS
share in the total was multiplied by
four.
The census of fifty years ago showed
that the United States in point of
wealth stood below half a dozen ma
tions of the old world, Today all
those nations have been entirely out
distanced.
Though the United States has only
twentieth of the worlds inhabi-
tants, it has a fifth of the worlds
stock of money and a fourth of it's
gold coin and bullion. The United
States has thirds-$14 600. 900. 600
of the worlds banking power-capital,
surplus, deposits and circulation. Her
pre-eminence in these directions has
been obtained in the last twenty years.
Between 1890 and 1904 the banking
strength of the new world grew los per
cent, and that of New York City 100
per cent.
How is all this wealth distributed?
The farmers and planters of the coun-
try received last year more than So
900, 900 for their products. This
equals the wealth of the entire coun-
try in 1S45. The product of the coun-
try's mines for 1904 amounted to ST.
800, OOO, 900. The United States has one
third of all the money deposited in the
savings banks of the world. At the be-
ginning of 1905 there were in the United
States 900 miles of railroad, as COM
pared with 100000 miles for the entire
world outside. The railroads earned
81 900, 600, 600 in 1904. and have in their
employ 1,S0O,0 900 persons.
Compared with the principal countries
of the world, the United States ranks
United States, s110, 600 900, 0O0 United
Kingdom, $50, 1000, 900 900; France, $780,
600. 100000; Germany, $4,000 900, 900;
Russia $50. COO 900 ,000 Austria Hungary,
$50, 600 100000 Italy, $4,000 900, 900;
Spain, $12. 900, 100000.
Now. while these phenomenal fig
ures are for the United States. one
must not forget that vast wealth is
awaiting workmen in Canada, Mexico,
Central and South America. How vast
it all is can hardly be conJectured. To
say that it is fully four or five times
that of the United States is to paint the
possibilities of the continent in safe if
not modest colors. 1t may be less, it
may be more: less or more, it is enor-
nous. Until Alaska is as well known
as California or Colorado, its concealed
wealth Will not be known Before we
can talk intelligently of Central and
South America we will have TO know
as much about the Andes as we know
of the Appalachian or Rocky noun
tains. Brazil. as large as the United
States without Alaska, with its Won
rful rivers, its vast forests, its fer
tile soil. its diamond mines, its fabulous
wealth in the tropical woods. is worthy
a place by the side of the states in an
estimate such as | am submitting, Only
God knows what Canada is going TO
give the world in the way of cereals,
minerals, farm, forest and sea pro-
ducts.
Thu woods of the continents for
ests range from scrub pine to the rich
and rare woods of the world, ma
hoganies. ebonies and rosewoods. Their
names alone would require columns.
often wonder if the wealth of Ann rican
mines is as great as that in American
forests. One fact is certain; the mines
will one day cease to s1eId, while the
forests may be made TO increase their
output. The farms, fertile beyond any
thing the old world ever dreamed of,
are incredibly rich. Wheat, corn, cot
ton, sugar cane, fruits of all kinds, |
from the softest and most delicious of
tropical varieties to the hardest of the |
temperate zone abound.
Page after page would have to be |
written before it would be possible TO !
tell the financial story of the last fifty |
years. 1t reads like romance. In and |
out of the golden gates of trade our |
merchants, manufacturers and finan- |
ciers have been going scattering |
around them streams of gold and sill |
yer more bountiful than were ever
conjured up by Aladdins lamp, or the |
dreams OF Midas. Reich vie Elm |
Amerikaner' (rich as an American) |
is proverb in Germany. and Ger