for her
part in world affairs. During the thirty years that elapsed between 1870
and 1900 she emerged from a position of comparative economic inferiority
to take a position of notable economic importance. Between the years
1870 and 1900 the population of the United States increased 97 per cent.
During the same period the annual production of wheat increased from 236
million bushels to 522 million bushels; the annual production of corn
from 1,094 to 2,105 million bushels; the annual production of cotton
from 4,352 to 10,102 thousand bales; the annual production of coal from
29 to 241 million tons; the annual production of petroleum from 221 to
2,672 million gallons; the annual production of pig iron from 1,665 to
13,789 thousand tons; the annual production of steel from 68 to 10,188
thousand tons; the annual production of copper from 12 to 271 thousand
tons, and the production of cement (there is no record for 1870) rose
from two million barrels in 1880 to 17 million barrels in 1900. Thus
while the production of food more than kept pace with the increase of
population, the production of those commodities upon which the new
industry depends--coal, petroleum, iron, steel, copper and
cement--increased many times more rapidly than the population. During
one brief generation the United States, with almost unbelievable
rapidity, forged ahead in the essentials for supremacy in the new world
of industry.

By the time of the Spanish War (1898) American industries had found
their stride. During the next fourteen years they were overtaking their
European competitors in seven league boots. Between 1900 and 1914 while
the population of the United States increased by 30 per cent,--

Wheat production increased 70 per cent
Corn production increased 27 " "
Cotton production increased 58 " "
Coal production increased 90 " "
Petroleum production increased 317 " "
Pig Iron production increased 69 " "
Steel production increased 131 " "
Copper production increased 89 " "
Cement production increased 406 " "

The United States was rushing toward a position of economic world power
before the catastrophe of 1914 hurled her to the front, first as a
producer (at immense profits) for the Allies, and later as the financier
of the final stages of the War.

The economic position that is now held by the United States among the
great