Democratic Sentinel, Volume 19, Number 44, Rensselaer, Jasper County, 8 November 1895 — OUR NATIONAL WEALTH. [ARTICLE]

OUR NATIONAL WEALTH.

Between 1860 and 1870 the abolition of slavery destroyed a nominal wealth of a quarter of a billiou of dollars; duringthesame period the Northern States gained enormously in wealth, by the establishment of many new industries. In 1880, according to the returns of the tenth census, the United States was the wealthiest of all nations, Great Britain being second; and there is no doubt that the last fifteen years have greatly widened the gap between us aud the English. When the last census was taken the value of the railroad property of this country was considered to be equal to the cost of construction and equipment, as reported by the railroad companies. No account was taken of the increase of stock.

The difference in valuation of property at the last census was very remarkable. In some States the assessment was no more than 25 per cent, of tlie real value of the property, while in other cases it is believed to have been as high as the selling price. The decade between 1870 and 1880 does not show as much progress as might be expected, owing to the fact that through over-production, stimulated by tlie war, there was an immense shrinkage in apparent, values, and also in assessed valuation. Our coinage has mainly been executed at the Philadelphia mint, established in 1793. There are three other mints, one at San Francisco, established in 1854; one at New Orleans, established in 1838, and one at Carson City, Nev., established in 1870. rite last census made no account of rotes, bonds, or other promises to pay, whether public or private, and these were not included in tlie estimated wealth for tlie reason that, while they are owned by one individual or corporation, they are owed by another.