The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1909-12-04
ENORMOUS SAVING OF UNCLE SAM
(LiterarY Digest.


Mr. George Pa joint editor of that important financial organ
the London Stats visiting the United States written
article in his weekly enghten British public on the subject
OF American prosperity and thrift In his opinion countrymen
sore need such enlightenment they generally have an extremely
inadequate notion of the substantial and stability of wealth in
the United States This authority speaks plainly about the
ignorance average European concerning the force: which have
brought this country into its existing prosperous condition" and will
continue to do so indefinitely. To quote his words:
aon that going in New York Of dangers investing in
American securities Unfortunately the views put by so
many of the journals of Europe the opinions persons of high
place and Influence who have troubled make themselves ac
quand with actual conditions can be no doubt that those
opinions are made in good faith and that many influential persons
Europe really regard what they would prosperity
America highly tinted soapbubble which speedily burst"
abuse foreigners these views and point out the causes
which the solid permanent of the American people
due 1t is due, he tells us
First and foremost the natural resources of the
country second to the hard and efficient by practically
every Czen OF the country either in developing the natural
which Nature offers plenifly manufacturing them into ar
ces of consumption distributing them consumers third
the encouragement which every receives his best work and
make suggestions for getting good results from the cap
a expended; fouhand this great Importance
the progress OF the coun-to the liberal participation which every
one enjoys in the general prosperity.
The American abore and azan wages enough to live
on and to spare for the avngban for investment OF the
amount saved he writes:
g" have conclusion that the annual savings of this coun
try are over ooooooooo and that the growing steadily
greater from to year This estimate es with the
OF government officials who calculated the wealth country
1000 about tSooooooooo and in 1904 at f22oooooooo in
crease four of about foooooooo average
100000 per annm The present of increase greater than the
average of the four years o 1904"
He describes the investments made from surplus earnings
buildings of various kinds and descriptions The population
United States growing the Of about 100000 per
and the housing of this additional population involves the
construction of 100000 dwellings per The progress
of the United States involves the construction number of
houses the upper well the lower end of the scale Not
only is there natural the population of the weather.
but there all the time uplif
ing, process which reflected the numbers of expensive
houses which erected from year year
Besides these housebudng enterprises the subscriptions made
from all toward the building of railroads. $6ooOooooo
nuay and the annual expenses of street and elevated railroads $3.50
100000 we'll the loans placed by the municipalities $25oOoo
per from the people He up his subject with
this calculation:
without going further into detail will be realized that the
ngs of this immense and rich country enormous and that they
probably greater than That the
savings of the American people equal of at least
fT2 per head of population and excluding children to about Eco per
head Of population