The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1926-09-17
THE BASIS OF OUR NATIONAL
PROSPERITY.


there are many theories advanced as
to the probability of financial de-
preston. Some argue on the line
of over-speculation and too much
expansion of credits. Others argue
that the people are buying too
many motor cars. Out of 10000
900 automobiles in use in the
world, 100000 are said to be
owned in this country. Then there
is talk, mainly for political effect,
that while there has been general
improvement in farm and market
conditions, great many farmers
are still on the verge of bankruptcy.
As a matter of fact, there never
has been time when there were
not some weak places in the finan-
cial, industrial or agriculture. struc-
tur of great nation, which could
be magnihed out of all proportion
IN creating campaign issue.
Let US consider tlve of the prim-
airy sources of new wealth, nation
ally speaking, of this great country
of ours, that are constantly offset
ting any possible collapse in the
soundness and stablnuy of national
business affairs.
The first source of new wealth is
farm crops, soil products; every
thing included in the term agricul-
ture. Indications are that this year
will surpass all other years In sum
total of the golden stream that agri-
culture pours forth.
The second great national asset
of new creative wealth is mining,
mineral and metal products, includ-
ing the oil industry. Reports show
that they are on a prosperous basis
of production.
Inc third source Oh wealth pro-
duction is manufacturing in the
first stage from raw materlals-the
factory output for 1926 will sur
pass all previous years.
A fourth great primary wealth
creator is numbering, logging, paper
mill products, and all associated in
dustries connected with products of
| the forest.
Heaped upon this great mountain
of new wealth created annually, we
must OF overlook the salt and fresh
water fisheries. The hudreds OF
/ ililAOhS tdhCh Out VI ILLS SlCUINIlt
are next to meats and grains the
| greatest item of food value.
If the hundreds of millions anC
| billions of dollars of new wealth
brought into existence annually anC
added to the existing wealth coulo
be stacked up before the people, to.
gether with the increaHn. accumu
lations In all banks, the question OF
the future financial stability of Oun
Country would be better under
stood. We would realize that tht
prosperity of this nation rests or
the rock foundation of primary in
dustries which create new wealth
annually by supplying the wants o.
mankind with essential product.
necessary to maintain life. Oul
Country has the greatest real basis
of security, stability, ana continu
Gus prosperity of all the othel
countries in the civilized world.
The statistics supplied by tn.
federal Bureau of Labor show un
usual prosperity of wage Garner,
for the past three years.
The years 1923, 1924 and 1925
have been comparatively quiet ane
free from strikes and industrial
struggles over wages.
| During 1922 there were 1,612,56:
employees engaged in strikes. Fol
the following three years the record
was: 1928 had 1,199 labor dis
putes with 756,084 employees in
volved; 1924 had 898 strikes with
654 ,641 employees involved; in 1925
only 428,218 persons participated in
labor disputes.
Since 1928 there have been more
wage increases than decreases
positive proof that the perlou since
1922 has been uniformly prosper
ous-and that means a broader dis
tribution of wealth and a greater
prosperity for a larger number.
1t is essential that every citizen
in Our Country should understand
some of the primary sources of
wealth which make possible steady
employment, good wages, and short
hours I'm this nation.
Any political party, political
group or individual, instrumental
lin disturbing or Gripping product
i've enterprise destroys employment
and steady wages.
If the people understand these
simple facts the way of the agitat-
or in this country will be more diff
cult and the road to steady employ
ment and good wages will become
constantly smoother. The future is
in our own hands.