The Cairo bulletin., 1906-01-01
AN ANNUAL REVIEW
YEAR OF 1906 HAS BEEN ONE or
EXTRAORDINARY ACTIVITY.
Opened in Spirit Of Doubt and Closed
In Spirit OF Almost Dangerous
Optimism--NationaI Pros
perity Exceeds All
Records.


4
business activity 1 opened in the
Esprit of doubt; il closes in a spirit Of
almost dangerous optimism, In both
volume and profit the trade Of The past
year has been much the largest ever
experimentation miner, mechan
ic, merchant and financier each having
had their fun snare of the proceeds
In short, cur national prosperity dur
ling the past year has far exceeded all
lpreYious records
The most striking fact in the stu
alton has been the farmers remark.
the principal factor in the national
activity Of today. The country has
been favored by esries OF successful
hafvests, but that OF 1905 surpassed
Iall Secretary Wilson of the depart
meni Of agriculture estimated the
wealth produced on American farms
this year at sG,415,00U,o00, which is
1886 0900 greater than 1904 and
SASS 900.0OO in excess Of 1903. Corn
reached the highest production and
value on record Hay proved d large
and profitable crop The cotton crop,
though short is unusually profitable,
and cur wheat crop surpasses the rec
ord in value In other respects the
lyear has been profitable one TO our
agricultural classes, and Secretary
/ Wilson gymnastics that as a result Of
/ five years continuous good crops, and
also 70 more Intelligent methods OF
agriculture, the value OF farms mas
I increased 33.5 per cent an amount
| approximately equal TO $G,13S,000 900
/ In consequence of this wonderful
progress the American farmer as a
I rule is now moi only out OF debt but
has a good balance in the bank lie
u.s. therefore a much larger buyer Of
the necessities and luxuries OF life
than ever before and this fact is
chiefly responsible for fna present un
usual prosperity OF the west and
south The Importance Of this great
accretlcn to national wealth will be
appreciated when it is remembered
that if our agricultural products are
correctly valued al S6,415.00O,000 this |
sum is equal to almost $50 per amman /!
to every man. woman and child in the !
country. In one year American farm |
ers have secured an amount OF wealth !
equal 10 the entire capital stock OF |
The American railroads and nearly |
Ten times their net earnings Such
srowth is simply astonishing
Coincident with the succession of
good harvesis we are experiencing a
mos. significant industrial develop
ment This must be attributed partly I
to the rapid growth of our population,
which is now estimated al $4,000, goo;
partly 10 the revival of enterprise,
which has been thoroughly aroused
by a continuance CT good times Our
mineral resources are being developed
at rate never before approached, and
our, industrial activity is beyond the
mos sanguine expectations. The pro
duciion of pig iron this year amount
ed 70 23.000.00 tons. which was
about 100000 tons greater than IN
1904 and nearly 80 per cent of the
worlds output The production of cop.
per also showed large increase, The
rise in values being still more con.
spicuous Throughout the year our
railroads have been taxed 10 their full
capacity and The gross earnings Of
SO ca miles fer eleven months Of the
calendar year amounted 10 $685. 900
an increase Of per cent Bank
clearings showed extra rdnary expan
sion. partly due 10 increased specula.
ton. partly due To the rise IN values.
and partly due TO the increased ac
fiyi.y in mercantile business Some
OF the above figure have Of course
been materially swelled by high
prices: so The volume of business
though very satisfactory. shows much
less expansion than do values. How II
prices have risen Is best illustrated Il
by the index figures fyr London that
city being of staple articles than any
other market. The London "Econo
mi index number stood al 2.277 at
the beginning OF this December. The
highest figure in many years. A year
acO IT. stood at 21S6. or ilt points
lower. IN December 1903. 10 stood 81
. 1g7. or 50 points lower than now.
In December. 1902, the number was
2 0O3 and m December. 1901. 1913.
ihc latter GO points below the pres
mt This shows a very large rise co.
values during the ias7 four years
Briefly stated. then. our present pros
perity is due 10 the fact that the farm
and the mine especially the former.
have given forth much more abun-
dainty than usual. and generally az
very high and profitable prices.
What are the prospects Of 1896
That Is a question more difficult 10
answer Than usual The present up
Ward wave has been in progress since
fh panic Of 1893. Judged by ordinary I
standards 81 measurement. = reaction 4
IS already overdue. and fhe tide /
hould be turned in the opposite d. /
rection Already there are symptoms |
- The boom having reaehed its zen
fth For instance II speculative fefef /
iiin- in sesl eta money eur-