Diplomats -- United States -- Biography; Morgenthau, Henry, 1856-1946; United States -- Foreign relations -- 20th century
We invited, urged, and welcomed help from every source and there
was a generous response. We utilized English, French, German, and
Dutch money to help build our railroads. We opened our portals wide
to immigrants who overflowed our shores in a most unprecedented
fashion. It first relieved Ireland and Germany of their surplus
population and thereby bettered the condition of those that
remained at home; later on Italy and Russia sent us hundreds of
thousands of their people. And it was thus that the native
population received the necessary reinforcements to help develop
the new districts that were being opened for settlement. As fast as
the railroad development pierced the West, villages and cities
followed it. The Northerners and Southerners found a common ground
in the great and almost boundless West which was then entirely
undeveloped and they worked side by side in this new land of
promise and soon forgot their past differences. They started out in
log cabins which they erected with their own hands; they slept on
pine boughs and were willing to forego all comforts to enable them
rapidly to recoup their lost fortunes. Gradually they acquired the
almost luxurious surroundings in which they live to-day, for there
is hardly a farmhouse without an organ or a piano, a sewing
machine, a small library and carpets on the floor, and most of them
own considerable agricultural machinery and a great many of them
their own automobiles.
We adopted a system of protection so as to foster our then infant
industries which are now managed by wonderful corporations that not
only can stand alone but compete with the world. We encouraged
thrift and habits of saving so that the deposits in the savings
banks to-day amount to 4,450 millions and the assets of the life
insurance companies to more than 4,400 million dollars.
What do such accumulated assets mean?
They mean opportunities realized, steady thrift, thousands of
thrills of pleasure at individual progress toward independence and
protection against want in old age, provisions for rainy days; the
renewed prosperity of the natives of the South, North, East, and
West; conversion of millions of stalwart immigrants into prosperous
farmers, businessmen, mechanics, etc., who are the owners of these
and other assets. I am going to leave to your imagination and
poetic temperament to analyze still further what are the component
parts when reduced into human endeavours that constitute this
monument of prosperity.
Public-domain text, read in full here on John Shaqi.
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