Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-10-01

The theory that the present cycle OF
prosperity began In 1895, and that, with
a halt In 1903, 1t has continued until
the present, is fortified by these hg-
ures."
The writer further considers the pre-
vailing high prices and the cost OF Nv
ing. the foreign trade situation, and
the money markets which he claims
are being submitted TO a terrible strain.
conyersatism being thrown to the
winds and debauchlng OF speculation
having set in. He also points out that
building operations are carried on on a
vast scale. During the year 1904 the
capital invested In such operations in
20 cities amounted 10 s075,O0O.0oO and
last year the amount was $52s,O00.O00.
This year the amount will be. I, is
thought, from 30 to 20 per cent great
er than IN 1908. Capital thus invested
Is "0xed' and cannot be used TO adj
vantage In case a crisis should set In.
Authority is quoted TO show tina even
real est0te experts View the situation
with concern. "All periods Of bust
ness prosperity, according to tho Rec
ord and Guide pass through certain
cycle of which the eliminating phase
is real estate speculation; and it is
apparent tina, the period Of business
prosperity which began In 1898 has
now reached this final phase OF its
career"
We do not care to follow the argu-
ment In all It's details. 1t would seem
that, as long rs there are no other
indications of a depression than indus
trial activity and good wages the dan
ger cannot be near at hand. With re-
gard 10 the indications as presented by
railroad building, more cheerful and
logical view is presented by the Manu-
facturers' Record. according to which
the railroad expansion noted is but a
natural necessity created by our ma
tional growth. The Record says that
I'VE have outgrown our railroads. and
quotes figures TO prove this. Between
1895 and 1904 the railroad mileage in
creased but II per cent, while the total
ton mileage OF freight traffic Increased
little less than 100 per cent, and the
passenger mileage increased 10 per
cent. Az for the future. 1t is calculated
that In 1916 the population OF the
country will be 1O5,0OO,00O and that
between now and 1926 THE gain In
population viii be but a little less than
the total population Of the country as
late as 1880" Il Is estimated that the 49,
000, OO0.O mileage tons Of freight trof-
hc OF 1904 "will probably have grown
20 between 400. 900, 100000 and 100000
100000 tons ten years hence" as a
minimum development, and that IF
the railroads of the country are to
measure up to the demands Of the
times these figures mean that on a
most conservative basis there must he
gain OF so per cent in the total rail-
road facilities ten years hence COM
pared with today The esti-
mate Of the late Edward Atkinson that
during the next ten or fifteen years
This country must average 10000 miles
of new track year seems not unreal
sonabe."
According 20 this railroad expan-
sion is an indication OF continued pros
perity. not the opposite The optimis-
tic view Of the immediate future has
apparently the stronger foundation.
but a word OF warning is always time"
Is. lest we forget that care is needed
TO avoid disaster no matter how bright
the outlook may be.