Railroads of the United States.
Mr. Henry V. Poor has just published his “Manual of the Railroads of the United States for 1871–1872.” It is an octavo of 592 pages, containing an introductory essay on railways, a tabulated statement of the condition of every railroad in the country, and an appendix showing the public debt of the United States and the debts and liabilities of the several States, compiled from official reports. One, by consulting this “Manual,” can inform himself as to the material facts in respect to railroads in general, or any particular road whose condition and history it may be his pleasure or interest to study. The general view, as presented in the introductory sketch of Mr. Poor, is exceedingly instructive. In 1830 there were but 23 miles of railway in the United States. This was increased to 2,818 miles in 1840, to 9,021 miles in 1850, to 30,635 miles in 1860, and to 53,399 miles at the close of 1870. During the decade ending with 1870 the increase of railway mileage was 22,764 miles; and during the year 1870 the increase was 6,145 miles, the largest in any single year. The total earnings of the roads in operation in the United States during 1870 amounted to $450,000,000. The increase of earnings in the last twenty years is $400,000,000 or at the average rate of $20,000,000 for each year. The gross tonnage carried by railways during the last year was 125,000,000 tons, valued at $10,875,750,000. The entire cost of the roads in operation Mr. Poor sets down at $2,400,000,000, or about the same as the total of our national debt. These statistics, which we take from Mr. Poor’s “Manual,” show that railroads in the United States have become an institution, progressing with a rapidity and wealth-producing power which have no parallel in any other nation. It is estimated that every 500 miles of railroad built in this country adds $120,000,000 a year to its wealth. At this rate the railway mileage completed last year will during this year add $1,440,000,000 to our national wealth. A nation that is adding a million each year to its population, and whose productive capacity increases four-fold to that of numbers, with a vast territory for its own expansion, has before it a brilliant future. It certainly can manage a large public debt, and admit of a great reduction of its present rate of taxation, without any diminution in the aggregate amount. No one can study the exceedingly valuable “Manual” of Mr. Poor without being impressed with the greatness of this nation.—Independent.