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1873] THE MARCH OF INDUSTRY 361 The shocking destruction of wealth by these fires was part cause of the hard times which began in 1873. But others concurred. During 1872 the balance of trade was strongly against the United States. The circulation of depreciated paper money had brought to many an apparent prosperity which was not real, leading to the free contraction of debts by individuals, corporations, towns, cities, and States. An unprecedented mileage of railways had just been constructed. During the half decade ending with 1873, $1,700,000,000 had thus been spent in the country. The supposed wealth of many consisted in the bonds of these roads and of other newly created concerns, as mining and manufacturing corporations. Thus the entire business of the country was on a basis of inflation, and when contraction came by the resumption of specie payments and the demonetization of silver, disaster was inevitable. In the course of the summer solid values began to be hoarded and interest rates consequently to rise. In September panic came. Credit in business was refused, debtors were pressed for payment, securities were rushed into the market and fell greatly in price, railway stocks from ten to forty per cent., even United States bonds from five to ten. 362 THE CEMENTED UNION [1873
Notwithstanding all these drawbacks, the material progress of the United States for the two decades which we are studying was something enormous. We have no room for details. Our total population by 1880 had swollen to 50,155,783, by 1890 to 62,622,250. The census valuation of our national wealth, which had been for 1860, $16,159,616,068. was, for 1870, $30,068,518,507; for 1880, $43,642,000,000; and for 1890, $65,037,091,197. 1880] THE MARCH OF INDUSTRY 363
CHAPTER IX. END OF THE PERIOD It is a long way that we have taken the reader, from the days of Columbus to where we can espy the dawn of the twentieth century. Yet, in comparison with the times which our narrative has here reached, those of three decades earlier would seem almost as remote as Columbus's own, so swiftly did the wheels of progress turn. Everything declared that a new age had opened. In addition to the signs of this which have been set down in the preceding chapters, we have only space for the bare mention of a few others. 1890] END OF THE PERIOD. 365 In 1888 the United States mails flew from point to point across the continent with a rapidity which would have astounded people so few years back as the close of the war. Their distribution effected through the post-office cars that ran on all the main lines and by immediate delivery in cities and large towns, was quite as great an improvement as the speed. The postal-car system had origin in Chicago in 1864, spreading thence East and West. Speedy delivery was introduced in 1886. Postal rates were lower than ever before, and destined soon to be lower still. Much business formerly left to the express companies was now done by mail, and much carried on in this way which formerly was not done at all. Our country had developed an attention to art in all its forms far beyond anything of the kind to be observed at the end of the war. In all the principal cities concerts of the highest order were provided and numerously attended. Our art galleries already vied with many of those in the Old World. Students of art were found in abundance in our own multiplying schools for them, while many from this country sought art instruction in Europe. Not a few Americans attained eminence in this department year by year. 366 THE CEMENTED UNION [1890
After the war the right to vote was extended in nearly all the States, until by 1890 manhood suffrage was legally the rule from North to South and from East to West. In this, indeed, we were only keeping pace with Great Britain, France, Italy, Switzerland, and Germany. The agitation for woman's suffrage had, however, progressed further here than in any other land. There was a large party, quasi-political, intent upon bringing it about. A national convention was held in that interest each year. In Wyoming and Utah the suffrage had already been enjoyed by women since 1869. In Kansas, by a law going into effect February 16, 1887, they voted on all municipal affairs. 1890] END OF THE PERIOD 367 In many other localities they had the privilege of voting on certain questions, as the election of school committees, and were eligible to membership in these committees. Occupations of honor and profit were, more and more as the years passed, open to the female sex. Women preached, practised law and medicine, and furnished many of the best bookkeepers, sales-people, and principals of schools. Vassar College, the first institution in the world for the full collegiate education of women, was opened in 1861. Smith and Wellesley Colleges, for the same, were opened in 1875, Bryn Mawr following in 1885. Cornell, Michigan, and all the State Universities in the West, like a number of the best universities in the East, educated young women on the same terms as young men. Harvard opened its Radcliffe College for female pupils. At its commencement in 1886, Columbia College, of which the Barnard College for women became virtually a part, conferred the degree of Doctor in Philosophy upon a woman. 368 
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