Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1906-12-31
Henry Clews Reviews Umpire
cedented Prosperity Of the
Twelvemonth
MANY FACTORIES CONTRIBUTE
First and Foremost is the Immense
Crop YieId-No Abatement Of Bus
mess Activity-lndustriaI Earnings
Of 1905 and 1906 Compared. = Other
Important Features.


past year. Henry Clews. the banker,
outlines the causes contributing to
present conditions. Foremost is the
crop yield, and other causes are the
mineral productions, invention and
manufacture and al growing export
trade. Mr.. Clews says:
The year just closed has been phe-
nomenal in many respects. 1t has not
only been year of Industrial activity
in nearly all civilized countries, but
also one OF exceptional political and
social development. The whole world
appears to be passing thru an extra
ordinary cycle of progress-the natural
result of growth in population, devel-
opment of natural resources, progress
in invention and a general advance In
education and civilization. Along with
this progress has been the inevitable
rise of the masses, particularly the
working classes who by various means
are gradually but surely securing
larger and larger share of the worlds
product 1t has also been year OF al
most worldwide peace; the sole impor-
tant exception being the deplorable
state Of affairs in Russia, where an
ignorant and down-trodden people are
struggling to break the bonds Of OPP
preston. Both England and Germany
have had season OF much greater
prosperity than usual In Germany
the course Of affairs-1nancial and
Observation-Disclosures resembles our
own; while England has experienced
great enlargement of her already won
derfully extended foreign trade.
France. too, is making progress and
accommodating wealth rapidly, altho
more or less disturbed by social and
religious dissensions. Nearly all the
British possessions, including Canada,
Australia, Egypt and India, are enjoy
ing unusual business activity; the only
exception in that empire being South
Africa. which, tho reviving, continues
to suffer the after-e effects of war In
spite Of the rapid increase in gold pro-
duction. Japan appears to be rapidly
recovering from it's recent struggle
with Russia, and China is awakening
from its long sleep and adopting west
ern civilization at rate which is
| eAlaA iiiftl6. hS HCAl QQdINSE VI d cell.
| fury is destined to see great Develop
ments in Chinese and Japanese terri
tory. and no country will benefit there
from more than the United States.
| AT home there has been no abatement
| of the extraordinary activity which
has amazed everyone by it's breadth
and continuity. The United States APP
pears to be still enjoying one of those
marvellous bursts Of growth which
| have more than once astonished the
world and upset calculations Of the
shrewdest and most experienced observ-
ers. Pessimists have as usual been
amply refuted. and even the optimists
would hardly have dared to predict
such development as have taken place
in this country thus far in the Tween
tieth century One of the prime causes
of this continued prosperity has been
a succession of generous harvests.
| Without these, such years as 1904,
1905 and 1906 would have been impos-
sible. Not only have our harvests as a
whole been large, but the agricultural
classes generally have received very
profitable prices for their product. The
yield Of cereals in 1905 was consider
ably in excess of the previous year, al
tho prices being lower the results to
farmers were not quite SO profitable as
in the preceding year. Animals and
meat products, however brought high
prices, thus making the year as a
whole successful one to the farmer.
Cotton, too, has been a profitable crop
for several years past. Never was the
American farmer so prosperous as he
is today; never was he so little in debt,
and possessed Of so good a bank ac-
count, and never before did he enjoy
So many of the comforts of life. The
rise in crop values during the last few
years added to the farmers income
much more than the increase in yield,
and has been accompanied by rise
in land values, partly justified but
sometimes running into excess. The
advance in prices has been chiefly due
to the greatly increasing demand for all
kinds Of products until supplies have
been reduced to point Of actual scar
city. There seems to be no more cot
ton, corn. wheat, beef, pork, wool, but
ter or any other staple product than
the world needs; hence, very largely
the prevalence of high prices in all ag-
ricultural products.
Here are few of the records meas