Democratic Sentinel, Volume 22, Number 18, Rensselaer, Jasper County, 14 May 1898 — OUR NATIONAL WEALTH. [ARTICLE]

OUR NATIONAL WEALTH.

Between 1860 and 1870 the abolition M slavery destroyed a nominal wealth >f a quarter of a billion of dollars; durng the same 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 ail nations, Great Britain being second; and there is no doubt that the last fifteen years have greatly widened the gap between us and the English. When the last census was taken the value of he railroad property of this country was considered to- be equal to the cost of construction and equipment, as sported by the railroad companies. ivo 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 the real value of the property, while in other cases it is believed to have been as high as the selling price. The decade bet vet u 1870 and 1880 does not show as much progress as might be expected, owing to the faxii that through over-production, stimulated by the war, there was an Immense shrinkage In apparent values, and also In assessed valuation. Our coinage has mainly been executed at the Philadelphia mint, establlshed_ In 1793. There are three other mints, one at San Francisco, established l«* 1554; one at New Orleans, established in 1838, and one ■ Carson City, N T ev„ -s tab.lisbed in im; . The la? + census made no a ccount or uot.es, bor.fte, or other promises to pay, whether public or private, and these were not included in the estimated wealth for the reason that, while they are owned by one individual or cor t'oration, they are ow«d by another.