It is often said that the earth belongs to the race, as if raw land was a boon, or gift.

Then, again, the ability to organize and conduct industrial, commercial, or financial enterprises is rare; the great captains of industry are as rare as great generals.

The waste of capital, in proportion to the total capital, in this country between 1800 and 1850, in the attempts which were made to establish means of communication and transportation, was enormous.

There is every indication that we are to see new developments of the power of aggregated capital to serve civilization, and that the new developments will be made right here in America.