Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-09-26

ton of gold has amounted to only yl4,-
| 000, G00G60
That isn't enough to buy the railroads
/ OF the United States. And nearly half
| that has been mined since 1890, the gold
production of the world in the last %
years amounting to approximately s., 100,
coo GO
| Probably the s6500.0oo,000 of foreign
| money invested in American enterprises
today is larger total than ever In the
country,s history, but il has ceased to be
| a busaboo. IN fact. Americans are be-
| binning to play money Santa Claus TO
| other countries. for we have some s., 500
c0o,o0o invested in foreign enterprises.
chiefly in Mexico. Central and South
| America, Cuba Porto Rico and the Phil
| ippines,
Great Britain has about S., so, COZ, 600 in
vested in the United States. Germany
| about a0oo, 10000. the Netlerlands has
100000, France has about $500 900, 600.
while Belgium. Switzerland, Italy and
the other countries hold the remaining
S150, coo 000
Most of this foreign capital has gone
into the construction and extension of
| our great railway systems. This has
left American capital free for the de-
veIopment of manufactures, mining
industries, agricultural resources, the
building Of homes. etc. The building
of the railroads also has made the de-
velopment of these other things much
more rapid.
We have used Cheap foreign money
for railway Ixrbi
used our own in places where it will
return Il greater interest Instead of
investing $500. 0Oo, ooo in railway bonds
and stock Il. 3 per cent we have used
the money where il would earn 8 and
and sometimes 10 and Is per cent.
These facts and figures, al first inn
preston, tend to create the impression
that the talk OF wasted resources and
The need fer conservative methods is
unfounded.
Perhaps in the early days the great
est need was for rapid development It
the expense OF economy and efficiency |
Probably that method was more profit |
able in the short run. But hasn't Uncle |
sam reached the point, with IL pocket
book full to bursting, when he ought
TO being devising proper means for in
vesting his capital and living on the
interest instead of taking IL all ont of |
the capital?
Governor E.uerhart of Minnesota re-
Gently made the statement that the
farms of the United States, ON an av-
efage, prouuced 81 less per acre than
they should with the same amount of
work and expense. We have approxi-
mately I'D. 000,0 900 acres of land under
cultivation. An increase of s per acre
would mean 100000, 600 of new ,
wealth added to our capital each year.
This would pay all our foreign inter
est charges, all cur tourists expendl-
lures abroad, and all the Sla0,000,0 900
sent abroad annually by our immi-
grants, and still leave enough to build,
equip and maintain more than 100 first
class modern dreadnoughts.
The corn acreage of the United States
is approximately 100000 acress, and
the average yieiu, according to the de-
partment of agriculture, is &c bushels
per acre. Half OF the farmers who
grow corn raise less than % bushels
per acre. Twice this is fair crop,
according to the departments experts;
three times &c bushels is a good crop.
and four times &c bushels are frequent
ly produced.