Milford chronicle., 1924-09-12
WHY AMERICA IS so WEALTHY
[FrOm the London Daily Mail, June
%, 1924


%, 1924
AgitatOrs demanding vast publi,
expenditure on their pet projects
frequently tell us that England is
rolling in wealth." that it is "the
richest country in the world" That
was, perhaps, true decades ago, but
matters are very different now. Eng
land is poor, very poor, if compared
with the United States.
The United States are fabulously
wealthy. Although they possess only
about one-twentieth of the popula-
tiOn of the world, they have half
the worlds wealth and have more
i-th&n half the worlds gold, diamonds,
pearls, and precious stones of every
kind.
The true wealth of a nation can
best be measured by the condition of
the masses. The prosperity of the
American workers is almost unbe-
lievable. More or less unskilled men,
such as carriers, milkmen, builders
labOurers, ETC., earn Ass. per day.
Vast numbers of skilled workers
earn Ell 900 and more per year.
The assertion that Americas
wealth belongs to the few, that the
high cost of living cOunterbalances
the high wages prevailing, is incor-
rect. The white population of the
Republic is a little more than twice
as large as that of this country.
However, the United States have not
merely twice the number of tele-
phones and motor cars that there are
in this country but have fifteen times
as many. To every three families
there are two telephones and two
motor-cars. Millions of unskilled
workers have not only roomy houses
which belong to them but have
telephone, a mOtOr-car, and other
luXuries of which English working
men scarcely dream.
Before the war England's savings
came to about e400,000,000 per year.
Although the American people are
terribly extravagant, their savings
are estimated to come to 92,700,000,-
900 per year. Last year the Ameri-
cans spent on mOtor-cars and trucks
alone 975O,00O,O0O. If we add the ex-
pendituTe on garages, etc., the mo-
tOr-car expenditure last year eX-
ceeded e1, 100000.
It is frequently stated that the
United States owe their vast wealth
to the possession Of their great nat
ural resources, to the possession of
a fruitful agricultural plain, extern
sive forests, rich mines, etc. That
explanation is fallacious. Every stu
dent of American economics is aware
that the bulk of Americas vast in
come is furnished, not by the farms,
mines, and forests, but by the fac
tories and workshops.
The United States are foremost in
the world, not only by the productiv-
ity of their wheat fields, cotton |
fields, forests, coal mines, iron
mines, ETC., but also by the output of
heir manufacturing industries.
With existing arrangements this
country can produce 100000 tons
If steel per year. That figure has
lever been reached. The United
States can produce at least 55,O00,-
100 tons per year. They produce far
more than half of worlds steel and .
# products made of steel Among
t3er things they produce aIv,itt 90 90
er cent of worlds motor cars, both
their own country and in branch
abroad.
In the city of New York alone vast O
more building takes place than in il
lie whole of the United Kingdom. L
he textile industries of the Repub- b
e consume considerably more cot b
n than the whole of this country. g
the production of goods made b,
ON copper, brass, rubber wood, d.
ather, ETC., Americas superiority is id
In view of these facts NJ
Dbden's prophecy, England is, and re
ways will remain, the workshop of
e world" is ridiculous. III
Why are the Americans foremost tu
the world, not only in the output tn
food and raw products but also in ii,
at of manufactured goods? The OF
asOn is obvious to all who are ac- M
ainted with economic conditions ps
both sides of the Atlantic. m
England, the former stronghold of or
lividualism and efficiency, has be- Vi
me a stronghold of Socialism. Owl
: to Socialist influence ca canny as
S become universal. The suicidal Al
licy of restricting output has led ex
hostility to labOur-saving machin- an
Y. The result is that the average ce
1erican produces as much as three tn
glish workers. cl;
Goods produced must be cOnsum- flu
They are consumed and enjoyed
Iefly by the working masses. Pro- CT
ction being three times as great in
. United States as over here work. in
receive not merely three times as tu
lch money but receive three times ne
much real wages in the form of su
DDS which they can buy. Hence m;
, American workers are infinitely wi
ter fed, clothed. and housed than de
British workers.
The American worker recognises We
It prosperity consists in an abun- La
ice of useful goods and nothing fal
e, and that such abundance can ste
be created by insisting on high tw
ges in respect of an utterly insult thf
ent output He recognises that :
Dital and labour-saving machines for
his friends, not his enemies. lyi
nee the American worker can af- nit
d a motor-car and other things th1
ich in this paradise of trade un- ira
ism of Socialism, and Of ca canny cid