New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-06
REVIEW AND DIGEST
A New Financial, Industrial and
Agricultural Era-Greater
National Development.

1912 and 1918 was passed and the year
Of new political, financial, Industrial
and agricultural undertakings has be-
gun. The action Of the stock market
during this transition from an old to
a new year was unimportant and sug-
gested little of the vast business de-
velopment which many other factors
indicate is pressing forward toward
fulflment The United States to-day
must be considered from a national
rather than a sectional viewpoint In
estimating its manifold resources.
Twenty years ago New York was prao-
tically the only point looked on as es-
sential in determining the realm OF
finance, trade and industry, so far as
the whole country was involved. In
1898 Chicago succeeded In securing the
Worlds Fair, and for the first time
every country on the globe was ap-
prised Of the fact that the Middle
West of the United States had city
important enough. with money enough
and with sufficient enterprise, to make
possible successful holding OF the
greatest exposition known in history.
Since that time the West has occupied
a different relationship as regards Its
financial and business appointments,
and has been growing gradually but
continuously, until to-day no longer
can the pulse Of the whole country
be taken in New York. Distributing
centres have been established in va
rious parts OF the North, South ana
West, due to the increasing popula-
ton and the development Of new cities
formerly Of minor Importance into
municipalities of wealth in agriculture
and manufacturing growth. Within the
past twenty years many institutions
which then were the most important
In the several branches Of trado, and
which practically controlled the job
bling interests nationally. have de-
clined, owing to the competition which
has sprung UP in various sections, as
the Individual demands of these sec
tons have made It possible to support
home institutions. Instances Of these
changes are known 10 the drygoods,
grocery, boot and shoe and other
branches of business, many Of the old
houses have been succeeded by new
ones, and the wholesale trade has been
distributed into territory through new
and smaller Independent houses, while
at one time the whole country was
covered almost entirely from New York.
Later, Chicago, St Louis and ether OF
the larger Western cities, with New
York, controlled this trade. but to-day,
while these large cities continue to eX-
ercise a national influence. other cities
are coming forward and are assuming
commercial importance which entities
them to recognition. In the North
west. for instance, the vast agricultural
growth has been responsible for mill
ions of the added population TO this
country. The cities of Seattle, Port
land. Tacoma and Spokane. which two
decades ago were reckoned with only
in a sectional way, now figure as met
ropolitan centres, with large manufac-
turing concerns and wholesale houses
in the different lines Of trade. In the
South there has been an awakening
which can only be appreciated by those
Ix.rIa ,-tc he - ~!
this land of numerous opportunities
The possibilities Of the South were
recognized by Coils P. Huntington in
his day. and his predictions regard
| ing its future are beginning tc
be realized. both by the people ir
and away from the zone Of roses and
magnolias. Passing from the poetic To
| the practical age has been rapid. Man
ufacturing. diversified farming and the
| injection of ambition into Southern
business life has given TO that country
and to it's cities commercial interests
which represent an influence in this
age. While there are left countless
| thousands Of acres OF undeveloped ter
| fitory in the South and West numer-
Gus thousands during the last few
years have been changed from grazing
lands into productive farms. and where
once only the cabins Of the plains were
to be seen. to-day these former prairies
are dotted with well constructed farm
houses and other buildings, indicating
prosperous agricultural districts. AS
a proof of the increasing Importance OF
the South and West in interior bank
| ing interests, the facility with which
money was furnished last year for
financing the largest crops In the his
tory Of this country may be cited.
| Looking forward. a new order Of af-
fairs is presented One of the factors
which will be responsible for estab-
fishing greater individuality in flnan-
cial and Industrial operations in the
South and West will be the opening Of
the Panama Canal. which this year
will bring on greater activity in prep
aration for this event by the interests
directly affected. To back up the
statement that this year represents an
era Of new and greater national devel-
opment It is only necessary to refer TO
the last annual report issued by the
Controller of the Currency at Wash
ington. This report shows that during
1912 there was an increase in the ag-
-