ABSTRACT
A careful survey of the countries which now formed a portion of the great world-market shows that the United States, more even iua.n Great Britain, \Vas likely to benefit by this rising cycle of trade and the construction of railways. Improved communications were above all needed to develop the ma.rvellou~ resources of the vast territory which, t.hough it h<1d become more. densely populated since the crash of 1837, was still , at the beginning of the upward movement of 1849, in great need of further immigmtion from Europe. This . immigratior., as has been said, was supplied at first from lrelfllld, and th.m more slowly, but more surely, from Germany, England, and Scandinavia. Apart from the sa.vings which these invaluable labourers brought with them, they a.lso, by the outlet which their industry providetl, and the vast wealth which it was at once recognised thn.t their settlement in so rich an ~~gricultural and mineral region must creat~, induced European capitalists, in spite of their earlier experience, to embark in American ventures on a larger scale than ever.
