The Union daily times. [volume] (Union, S.C.) 1918-current, 1922-01-11
United States 1S22.1922

"A comparison of the conditions un
der which the United States entered
the year 1922 with those of the cor
responding year of the preceding cen
tury gives us renewed confidence, says
the Trade Record of The National
City Bank Of New York, in the indus.
trial and commercial future of oul
countrff The population which ir
1922 was less than 10,0OO,O 900 is now
1O7,OOO,OO0, or more than ten times
that of century ago, while the pop
ulation of the world as a whole has
increased but about $50 per cent
meantime. Our international COM
merce even in the present moment of
depression is 60 times as much as that
of a century ago, having grown from
$1O9,O00,0O0 in 1921 to nearly or quite
$7,O00,O00,000 in 1921, while interna
tional commerce of the world in 1921
may possibly total times that of a
century ago when it stood at S1,659,-
100000.
This griwth with US has been large
ly due to increased facilities of trans
portation. In 1921 cur great Missis-
sippi Valley with it's wonderful pro-
ducing possibilities had but about e.
100000 people, and their only method
of sending their products to tidewater
was by the rivers and the Great
Lakes, fer even the Erie Canal was
not finished at that date and steam
railways for commercial service were
then thing unknown in any part of
the world. Of the 100000 miles Of
railway built in all the world since
1921, over one-third was constructed
in the United States, chiefly to con-
meet the great interior with the ocean
frontages. and the middle West"
which had then 100000 population
has now 50,900,0OO and is not only
the worlds biggest producer of grain
and meats but is turning out one one
third of the manufactures of the coun-
try. The manufactures of the whole
world in 1920 are estimated by Mul-
hall at $4,25O, 900, 900 while our census
of 1920 puts the value of those of
the United States alone at $62,O0O,-
100000 or nearly Is times that of the
whole world century earlier. With
this tremendous growth in our manu-
featuring industries our exports of do
mestic manufactures exclusive of
foodstuffs have grown from less than
$8,0OO,000 in 1921 to over $4,000, ,OOO.-
600 in 1921, or $50 times as much in
the clean" year just ended as in the
corresponding year of the preceding
century. With this increase in indus
trial, commercial and business activ-
ity has come corresponding advance
in the financial requirements and sup
plies, and the total "money in circu-
lation' which was officially reported
at SGT, 100000 in 1920 is officially stae-
I'd at $5,676,711,00O on December 1,
1921. Meantime the centers of in
dustry and business have grown
amazingly, the population of New
York having increased from 13O, 900
in 1922 to over 6,0O0,0 900 in 1922, Phil
adelphia from. 108,0 900 to. nearly. g.
100000, and Chicago from ga hamlet
of log houses inhabited by less than
100 people" in 1880 to approximately
100000 in 1922.
Not all of this growth in the indus
tries and prosperity of the country
has come from mere increase in pop
ulaticn, for cur area has doubled
meantime, the total area of the Unit
ed States having grown from 1892
600 square miles in 1921 to $500, 900
square miles, including Alaska, at the
present time. Our additions of terri
tory since 1922 consist of Texas, Ari-
IONA, New Mexico, and the entire Pa
citic frontage, and thus includes enor-
nous additions to the agricultural and
mineral wealth of the country.
Thus the year 1922 finds the United
States the worlds chief agricultural,
manufacturing, commercial and finan-
cial ma ion. The possibilities of a
further expansion in all these lines
are found in the fact that with our
population, exclusive of Alaska, is
still only 36 per square mile or less
than one-tenth that of certain of the
most prosperous Of our European
neighbors.