The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-11-02
..wnY PROSPERITY WILL CONTINUE"

u TNO0E VII
yHY PROSPERITY WILL CONTINUE" is the it'll. O a very in
- tsestng and pertinent article from the pn of james W. Van
w ceavs. president If The National Association of Manufacturers
published in .The Circle magazine. october number.
Mr. var Cleav in opening his article segregates Wall street into t o classes
o., as IN ms a pA sma.s .Saman,..,v - ,sn..,iou.uy n past week. IS they
did on March IA, 1907, and May O. 1901. It is this class who are loudly pro-
mitigating their theory liking it % their religion, as the foundation Il their best
Thought am eudeavor. that certain stocks will go lower han they were few
months oil years back and tina the tendency was still downward. In fact going
beyond Mr. Van ceave's line If reasoning Of phaseol0sy we ~ouid title TINS
sroup as either calamity howlers or else gumshoe bear operators
The other of the WI clamesn named above quietly combas the above loud
mouthsd pesimstc uttmances with thu theory, to use Mr. Var clsave's words:
The other Wall street is the point to which a large part Of tn c0untryss surplus
cash gravitates for employment when it fails to find profitable work to d o at
the locality which talks and acts for thu United States in all its great financial
transactions with Europe. Asia n the rest If the world That is tn real and
the greater Wall street."
MI. Van cleave goes m to show that gamblers raids are sporadic and alb
normal and hat the greater majority Of h operations If the New York Stock
only legitimate but perform a necessary function n III social and business
economy. Through the constant AM comprehensive watching overa all markets
ad industries they are able to determine demand, measure vAues and steady
prices, also to ascertain any closed pressed overproduction in staples The real
Wall street by this service is able to urge caution in erextena OF credits
and to lift a warning finger whisper "go Slow in cauhoning spectators
eager to jump in blind for a RISE. The true Wall street is not presagng IN TOT
ling W of our towering business structure or wei preoicsns' nat NJ Is III
sight for several years to come.
Coming down tic hi bank situation. Mr.. Van cleave's article vas written
before thu collapse o. h Heinze orse-rhomas pasteboard skysuappers; how
ever,h he tells that there is nothing in the great centers except New York.
whereby business transactions ire slowing up IND in Nw ork 1t mas ackene
up only because Of he curtanment in speculation. Railroad earnings an ioieisn
trade are far in excess of all past figures and the general tendency N ec is up
ward. To again quote Mr.. Van ceave verbatim; 20 the Great Lake the
tramc is breaking a II records. n neavy gains IN ou mpo's ". As".
is that though our factories and workshops of all sots ire producing
c0mpes oi pe1p's 80 ~ ,oo -. ~ whMs The countrvsp opuation has grown
is per cent. its pgiron output has increased 100 per emit and its STEEL production
has expanded 100 per cent
w.a. arnsr navs proated their share in the general prosperity. Wages
in all industries la gone up to figures never before touched. Savings Bank
deposits, which N this year amounts to sseooOooooo ave increased more tina
SO per cent since 1900.
The improved conditions are reflected by the showings of the governmental
balance sheets and while its output has been steadily growing, its income hai
been increasing much faster; thus, while the treasury in 1904 and 1905 showed
heavy deficits, in 1906 there vas a surplus # s25oooooo' which VIII % increased
approximately to $751; 100000 in 1907
Past records show that according to the estimate OF the secretary Of asricu
tret hs total value of the products Of the farms-corn, cotton, hay, wheat, oats
potatoes barley. tobacco, sugar. ha.sssd, re' rye. hops and other croDs.wa'
S. s4oooyoo fol 1906. which is a gain of 8 per cent w the valuation OF 1905;
Is per cmt over that of 1908 md "A per M over that of 1900. It is seemingly
saie 70 assume n. Ina. mn s, mn i'm rasr ,sr sr this wear At least. it is safe also to
assume that the totalf r 1907 will roll wei the s7000OoOOo0, which would equal
the wealh Of the whole United States in 1850
Assuming that there may be some slight falling off in valuation of this
crops it would be more than made up by the already clearly de-
clpn'.aols n. .n oo ~ ~ ~. uS saSDs wss increase Nv q ooo non tn Following wear
by 100000 more in 1906 and will easily reach $11oOooOoo this year. This
estimated gain is computed from Tit surprising showings being made by Nevada
and Alaska this year. This showing will put the United States second Of the list
of gold producing countries, Transvaal still heading the list.
These figures If gold productions we're ar beyond the dreams Of the Argo
nauts o. the early California day. but however, this industry is still fr down
in tn list of the mineral production of this country. The coal product fr this
year viii equal $780, OOoO 900. the pigiron will foot up s45ooooooo and copper will
production II the world, it will be found that the United States share Tin
metallic and nonmetanc producD will figure vm s2oooooo0oo. or over half the
total mineral production of the world.
A few more facts worthy to be carefully considered re that while this
country has only 5 per cent If the population of the globe, it produces 20 pr cent
manufactures. So per cent of its silver, 40 per cent Of its iron. AZ per mt of its
Steel AZ per cet of fits petroleum, So per lent Of its copper, 70 per cent OF Its
cotton, 80 per- cent of its corn
1t vas stated by william Stanley Jevons the British economist in 1867, that
when England losth her supremacy in coal and iron production Ter fall would be
this country nav surpassed w the widest dreams of the most optimistic
The United states passed England in 1880 as to manufactures in 1895 in iron
ounout and in zoo in the roductio 4 bal The wealth of this country today is
$4,000 100000 or more han that OF Great Britain and France combined. Every
successive sunrise seess 1oOooOoo added % the market value OF tn tangible
property II the United States.
Our amazing wav of prosperity has called forth an immigration of 100000
souls in 1905. 100000 in 1906, 100000 in 1907, with event possibility that it
win reach 100000 next year
The Japanese war talk has subsidized. but what did it amount to at the most'
Compare the resources md known ashans ability of this land T. that of the
spain. " could wage a successful foreign ar with n hand while making money
with the other.