Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1906-01-02

1 classes, and Secretary Wilson est.'
mates that rs q result Of fiye-years
continuous good crops, also TO
more intelligent methods OF agrioul-
ture the value of farms has increased
33.5 per cent, an amount approx
mately equal 10 sC,lss,O00, 00O, Ia
consequence OF this wonderful pro-
gres the American farmer as a rule
IL 10Y not only OUT OF debt, bur has
a good balance In the bank. lie U.s.,
therefore, n much larger buyer OF the
necessities and luxuries Of life than
ever before; and this fact is chiefly
responsible for the present unusual
prosperity OF the west and south. The
importance OF this great accreti0n to
national wealth will be appreciated
when It Is remembered that. II our
agricultural products are correctly
valued at 3G.il5.ooO,0 900. this sum Is
equal to almost $50 per annum to
every man. woman and child In the
conutry. In one year American farm.
ers have secured an amount Of wealth
equal 10 the entire capital stock OF
the American railroads and near: ten
times their net earnings. Such growth
~ simply Rstonishlng, ~
C~oincident with the succession IT
good harvests we y experiencing, =
most significant industrial develop.
ment., This; mnst be- attribated %pruy
to the rapid growth Of our population.
which IL now estimated at 81. 900 900:
partly to new inventions and new
business. methods. and partly to the
revival OF enterprise, which has been
thoroughly aroused BY . ooattntmnce
OF good times. Our mineral fesour-
ces are being developed. At q rate
never before approached. and our In.
dustrial activity 70 beyond the most
expectations. The produce.
tion Of pig iron this year amounted
TO 23.n00.O00 tons. which was about
1000, 900 tons greater than. IN 1907
and .Deariy 40 per cent Of. the worlds
output. The production Of copper also
showed . large increase, the rise
In values being still more consnica
Gus. Throughout the year ouc rail
roads have been taxed TO their full
capacity. and the gross earnings OF
S3.677' miles for eleven months Of toe
calendar year amounted to 4j.93SyO0.
an increase Of . per cent. Bank clear.
ings showed extraordinary expansion.
partly due 20 the increased activity
the volume OF business though very
above. figures have OF course been
materially swellel NY high prices; 40
the volume Of bushes. hn;gh vary
satisfactory. show much less expaas
sion thun do values. How prices
have risen isrhest illustrated by the
index figures for London. that city
bctng a~~,greater controlling center
for.the' majority Of staple articles than
and other market: The London HEcon~
omist" index number stood I277 At
the beginning Of. this Qeeepaber. the
highest figure II many years. A year
ago IT, stood at 2f3o. On al pointS|
lower. In Tecemoets fSO3. It stood
n 'sa87, Of 30 points lower than nov.
ID aDeoember, 1902. che number wsis
cO03. .and IN December. 1901. iSl4lY
the latter 329 points below the presi
ent. This showsva very large risA|
In values during the last, four yearN|
Briefly stated. then. our, present proE1
perity II due to the fact that the
farm and mine. especially the FORM
er. have given forth much. mored
%abundantfy than usual. and generally
at very fffgh and profitable prices. a