The Dawson news. (Dawson, Ga.) 1889-current, 1924-04-15
so P. C. INCREASE IN
NATIONAL WEALTH
BUT GAIN DUE TO DEPRECIA-
TON OF DOLLAR. COST OF
LIVING UP "a PER CENT.

Government cnu1ntTdtoIs WIN haNS
been engaged Tor the past fifteen
months in taking an inventory OF the
wealth OF the United States have vir-
tuallv completed their work and are
on the eve Of announcing the final fig
ures writes Harden ColfaX in copy
RIGHT article in the Savannah Morning
News. These will be in the neigh.
borhood of S3000O0 100000 as OF
Dec. 81, 1922. as compared with $751;
600 100000 ten years before. The in
crease during the decade has been
about 90 per cent
During the same period, however,
the cost of living has increased about
% per cent. And as the enumeratorS
figure the cost OF living by averaging
the costs of commodities OF all KIND
and sorts. the increase is in reality
the index also to the rise in general
prices. Hence the unusual situation IS
presented whereby general prices have
risen o. per cent while the wealth OF
the country. inventoried at the higher
prices has risen only 90 per cent.
Apparently there has been no actual
increase, on the face of these prelirni-
nary estimates. in the wealth OF the
country, as the increase OF on per cent
falls below the general price rise OF
o. per cent.
Huge Shipments Abroad.
The lavishness with which America
shipped its merchandise OF every de
scription abroad during the decade IS
regarded as a possible explanation, IN
part. OF the apparent discrepancy.
Commerce department figures show
that during the ten years ending Dec.
81 1922, the excess Of American eX-
ports over imports was more than
So 900, 100000 In return Tor this huge
excess of goods-WhOse departure
from America depleted the national
wealth to the value placed upon them
there were received only promises
to pay.
These promises, in the view OF the
census bureau do not constitute
wealth. They constitute mortgage
and not a first mortgage, at that-up-
on the efforts OF future generations OF
Europeans. Neither the $1l, 100000
in foreign loans held i'll the treasury
here nor the foreign securities sod by
private hnanciers in this country since
the war figure in the count. A suit OF
clothes on the back of an American
wage Garner outweighs, in the inven-
tory, our whole grand total OF billions
in foreign securities.
Initiation in Land Values.
Based on preliminary figures, the
totals will show an increase IN land
values throughout the country to
about S150,000. 100000 This includes
ali land, from the most valuable city
real estate to the arid regions, togeth-
er with the buildings and other i'm
provements thereon. In 1912 the value
OF the nations real estate was about
$90,000,000, 600. The figures reflect the
upward rise in prices, as the land, o.
course, was the same in quantity II
1912 as it was in 1922 and the $52
O0.000,0O0 increase is attributed en-
tirely to the additional buildings erect
ed plus the marked-up prices at which
real estate was held.
How much of. this $52,000 100000
increase is pure initiation is not HARD
to estimate. Total building during the
decade hardly exceeded 100000 600
it IS believed, when allowance is made
for old buildings destroyed to make
way for new, and the fire loss not re
placed. The remaining $4,000 O0C
in real estate values probably is near
~ all due to initiation.
Tax Exempt Property.
Tax exempt real estate, such as gov
ernment buildings, ools anC
churches, apparently has increased
from about $4,000 100000 to $4,000
100000. The value OF machinery, etc.
in factories appears to have trlpled
while that on farms is marked up a
an increase Of about per cent Rail
roads have failed to keep pace with the
rest OF the country's possessions
showing an apparent increase of les.
than rs per cent.