Riches in Resources

Violence, deprivation and political discord are so commonplace that good news often is scarcely noted. Last week there were two indications of the abiding strength of American society. The gross national product rose at an annual rate of 11.2% in July, August and September, the largest quarterly rise in two decades. This showed that the U.S. has not only rebounded from the long recession but is in the midst of a recovery. And the U.S. and the Soviet Union signed a five-year pact that virtually assures the annual sale of $1 billion worth of grain to the Russians (see ECONOMY & BUSINESS). America remains a cornucopia, and the Soviets need its produce.

The grain deal is a reminder that in a resource-hungry world, the U.S. occupies an enviable position. It is one of only a few nations that possess all the necessary ingredients for long-term economic power: a rich agricultural base, a vast supply of raw materials, big and modern industry, and a well-educated, skilled population. Though the nation's largest city totters on the edge of ruin, those parts of the U.S. that produce its most basic resources are doing fine. Texas, perched atop a sea of oil, weathered the recession practically unbruised. A new prosperity exists--and promises to grow--in the regions that supply fuel and food. In West Virginia, old homes are being painted and repaired. All across the prairies, orders for new grain bins and drying plants are fast building up.

An old Virginian best summed up the opportunities: "If I were a young man and wanted to have a good life and a prosperous life, I would go to a coal region or out to the farm lands. The world needs what both places have got."

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