Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-09-23
FIVE MIGHTY FAT TEARS
Facts and Figures About the Wonderful
Prosperity of the Country.
UNPRECEDENTED UPuFT ALL AROUND
Phenomenal Crops, Large Acreage
and High Priees-An AmasinE
Leap I'm the Fortunes
of the Country,

Through I'VE consecutive years the United
States has enjoyed a degree of prosperity
without precedent In half-a century. and
perhaps not in its history.
The immediate cause of this amazing
leap In the fortunes OF the country is ana
iyzed by Carl Snyder in Moody's Magazine.
The last fve years of farm production
have been doubly exceptional. We have
known phenomenal crops associated. some
times with large acreage, sometimes with
high prices.
This triple combination has been known
to occur In single year; perhaps once OF
twice. as in 1881 and 1852, for two years.
It has never before been known for FIVE
consecutive years. and It will probably not
be known again within the lifetime Of the
present generation.
Our principal crops In order OF total
value are, corn. hay. cotton. wheat and
oSts The total value OF these Ave crops
for the last five years Of the last century
amounted to Se.ooo,OOO,0oO The returns for
these same crops for the first Eve years Of
the new century were more than $4,000, oO0,-
900. a sheer advance Of more than So per
cent
These crops represent a little more than
half the gross yield of the nations farms
immediate supporting population of the
country received on an average s2,OoO,ooo, 900
per year more for Its labors. through these
five astonishing years. than what might be
regarded as its normal return.
The aggregate values for all farm prod
ucts for the year 1905 were estimated by
the department at more than 6,OO0OOO,O 600
IT would probably be dificult to show that
ever before in history has farming re-
ceived so high a return as in the last year.
Independence of Farmers.
1t is perhaps no exaggeration to say that
in consequence of these five unprecedented
years, the American farmer is in a position
of greater economic Independence. not to
say, opulenee, than has ever before been
known to a tiller of the soil.
In 1875 the United States possessed
population between 100000 and $4,000
900. 1t has doubled in thirty years. In
1875 the total mileage of the country was
but 10000 miles; in 1905 1t was three
times as great.
In 1875 the total gross reseipts of the
railways was $500, 1000. In 1905 they
exceeded $4,000, oOO. 900. That is to say,
the total. traffic was four times as large.
In 1875 all the railways represented
capital of stocks, bonds, and debts of
$4,000, 900 600. In 1904 the corresponding
account was $4,000, 00O. 900; that is, rather
less than three times as great with four
times the traffic.
The earning power of the invested cap
ital had increased in this period by 80
per cent. In 1875 the railway traffic earn
ings were little less than 10 per cent
of the gross capitalization. In 1905 they
were nearly 10 per cent.
Very naturally stock values show a cor
responding increase. In the period from
1875 to 1880 the average value of the
shares of the ten leading railways of the
nation ranged around $50 to $40. The
average sank, in 1877, to as low as sac a
share At the close of 1905 1t was about
5000 a share.
The average dividend return on the
market price Of the solder railway stocks
in the meantime had been cut very nearly
in half. The average return to invested
capital even so late as 1893 and 1895 was
between per cent and per cent. An
average of twenty of the leading dividend
paying stocks at the close of 1905 showed
a return of but q little more than 3 per
cent.
In 1897 the total listings of bonds was
$3.50, 100000. In 1906 It was SO.OoO,0OO.
Output of Minerals.
In 1880 the total production of coal in the
country, both anthracite and bituminous,
was 100000 tons. In 1906 1t was S75OOo.Ooo.
In 1890 the estimated value was S145 900, 600
In 1901 It was SsOo0Oo.ooO. In 1906 1t was
$3.50, 200.
The increase Of pig iron production was
still more remarkable. A quarter of a
century ago the annual production was
about 100000 tons. The production for
1906 was 2a,ooo.ooo tons. The annual value
OF the pig iron product from 1882 to 1898
ranged about slooOoOoOo and in 1906 1t
reached a record total of s57T. 100000.
From 1889 TO 1894 the net deposits in all
Of the national banks of the country in
creased from q little more than $1,000
600, 900 to $4,000, o00,0 900. They all fell
away rather sharply in 1897. following
the bad year of 1895. They rose from
about sl.7B0, o0o. 900 in 1897 to more than
$1,000. 100000 in 1905. The increase in
the eight years was not far from 500 per
cent.
If We add to this the s3.250. 900, 900 held
by the savings banks and the s4.250 .00O,-
900 of deposits in state and private banks
and the loan and trust companies, we shall
have an aggregate of deposits of nearly
sIS, 600, 900, 000 That is an average bank
account OF more than s150 for every man,
woman and child in the country, or an
average of $3.50 for every family, from
tenement house or fishing village to S.
o00,0O0 copper kings palaces on Fifth
avenue.
There were, in 1904 and 1905, nearly
5000, 900 Individual depositors in the saw
ings banks of the country alone. Their
deposits were three times greater than all
those OF the United Kingdom, OF Austria.
OF France. and half again as large as the
boards Of thrifty Germany.
More than 100000 individuals In the
United States are paying in annually to
life insurance companies more than
100000 per year This exceeds 800
for each policy and represents in large
part a savings bank account
The actual amount of money per capita
In circulation in the country has been
rather more than doubled in thirty years;
II was only little more than SIS per
head in 1877 and 1878. II now exceeds
ssl. Immigration passed the record mark
Of 1851 in 1903 and again In 1904, reach
ing the Unprecedented figure OF more than
100000 in the vast year II will be
curious to observe whether financial his
tory will repeat itself in l9o6-o7; and a
sharp depression follow the incoming OF
this foreign hood. aa a aid In 1874 IN