National Geographic : 1892 Mar 18
The Future of Commerce. twenty or twenty-five miles a day is now moved five hundred miles a day by water and eight hundred miles by land. Corre spondence, then carried no faster than freight, is now borne by telegraph to the farthest ends of the world. All these changes have taken place within a single generation; for our fathers could not travel any faster than Alexander or Cesar. Steamships, railroads and telegraphs within that time have transformed all commercial transactions and the methods of commercial business. Formerly eight months were required to execute an order in India or China and obtain the return; now one day is sufficient. These commercial changes caused a revolution in the modes of business, and were the main factors which produced the monetary disturbances of 1873, the effects of which we yet feel, so long has it taken the world to adjust itself to its new relations. The Future of Commerce. The commerce of the world originated in Asia; it was carried to Africa and thence to Europe, and from Europe to America. This movement can go no farther westward, for on the other side of the Pacific is China, which has successfully resisted every at tempt of the European to encroach upon her domains, and India with its teeming population of two hundred and fifty millions; so that America, the last of the continents to be inhabited, now receives the wealth of India and Asia pouring into it from the west, and the manufactures and population of Europe from the east. Here the east and west, different from each other in mental power and civilization, will meet, each alone incomplete, each essential to the fullest and most symmetrical development of the other. Here will be the great banking and commercial houses of the world, the center of business, wealth and population. The end is not yet. Inventions are increasing in a geometric rather than an arithmetric progression. The limit of steam power has not been reached, for with a high temperature in the steam-boiler the addition of a few pounds of coal increases the steam power so greatly that we are unable either to control or to use it. Electricity has just begun to offer new opportunities to com merce. We are no longer compelled to carry our factories to the 3-NAT. GEOG. MAG., VOL. IV, 1892.
1892 May 15
1892 Feb 19