Days and ways in old Boston . Massachusetts Bank in 1800. First National Bank in 1914(Successor of the Massachusetts Bank) Old Boston Banks would resemble the western railroad situation,and afford but temporary use for capital. Therewas another more urgent and recurrent of costly plants, high wages and increasedcost of materials together with enormous pur-chases of raw material demand constantly morecapital to conduct prosperous enterprises, andhere the comparison between the figures of 1850and those of 1910 tell the story: In 1850 foreach $1000 of capital invested in manufacturesin
Days and ways in old Boston . Massachusetts Bank in 1800. First National Bank in 1914(Successor of the Massachusetts Bank) Old Boston Banks would resemble the western railroad situation,and afford but temporary use for capital. Therewas another more urgent and recurrent of costly plants, high wages and increasedcost of materials together with enormous pur-chases of raw material demand constantly morecapital to conduct prosperous enterprises, andhere the comparison between the figures of 1850and those of 1910 tell the story: In 1850 foreach $1000 of capital invested in manufacturesin New England, there were products valued at$1,720. In 1910 each dollar invested was merelyequivalent to the same amount in value of prod-ucts. This change of proportion means thatif goods could have been produced as cheaplyin 1910 as in 1850, the same value of productscould have been secured with one billion dollarsless capital. The early uses of Boston capital here tracedwere obviously a part of the great scheme ofdevelopment. The third and later use m
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Keywords: ., bookcentury1900, bookdecade1910, bookiddayswaysinol, bookyear1915
