Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-25
THE WEALTH OF THE COUNTRY.

THE WEALTH OF THE COUNTRY.
A correspondent of the Nel0 York
Euening Post has condensed the census
statistics in regard to the wealth Of the
country. The average personal wealth
throughout the whole United States
and Territories is SIP, and the wealth
per capita in the vaTions States is as
follows: In Alabama, S2O2; Arkansas,
1922; California, S1.097, Connecticut,
81 Al; Delaware, S777; Florida, 1924;
Georgia, S226; Illinois, 1886; Indiana,
S754: Iowa, 5000; Kansas; 1906; Ken
lucky, S43l; Louisiana, S454; Maine,
S555; Maryland, 1924; Massachusetts,,
81, 1853; Michigan, S605; Minnesota,
S5I3; Mississippi, S352; Missouri, SAG;
Nebraska S435; Nevada, $3.50; New
Hampshire, 1913; New York, Sl,48l;
North Carolina, S243; Ohio, 1888; Ore.
gon, 1896; Pennsylvania, 81 ,08l; Rhode
Island, SI,366; South Carolina, 1924;
Tennessee, 1896; Texas, 1874; Vermont,
S7ll; Virginia, 1884; West Virginia,
S43I; Wisconsin, 1863.
The above figures do injustice to the
South IN two ways:
1. They divide the estimated proper
ty Of the white population equally with
four million freedmen, which obviously
reduces very much the average wealth
held by each person considered as a
whole.
>. These freedmen had been acquired
as property by the white citizens Of the
South quite as much as any property
held in the non-slaYeholding States.
The loss Of this wealth by emancipation
has no compensation in fact or in
figures, as shown by the United States
census of 1870 Make fair allowance
for losses by the war, by emancipation,
and by carpet bag rule from 1865 to
1870, and the wonde~ IS that the white
citizens of the SoulL ID left as much
wealth as the census credits them with.
Our farms and farming lands are put
in at very low prices compared with
those in New York, which has a greater
amount of capital per capita than any
other State in the Union. Her city
property is also estimated at prices far
above what it can be sold for at this
time.
With good management, the South
may soon become the richest section of
the United States according to the
number Of its inhabitants, because It's
resources are the best. Its true policy
Is to c Concentrate values by spinning
cotton into thread worth twice as much
per pound as the raw material, thereby
diminishing the cost Of transportation,
withdrawing labor from'coIton culture,
and counteracting the tendency to
over production. We should have no
land lying idle on which grass will
grow to keep sheep, cattle, horses,
mules and hogs. A good article Of
farm stock sells high in all the East
ern and Northern States; and beyond
reasonable doubt, the mild climate of
the South presents very favorable Op-
portunities for raising grass, corn, COW
peas, and stock feed of every kind.
AS long as water runs in the South,
glass will grow. Wealth grOu1s as
naturally as any agricultural plant;
and 1t is mainly from this source that
our industry must recuperate its dam
aged fortunes. Let the soil, rain and
sunshine do more work for the public
good. These we have at our doors,
ready for use, without waiting for I'M
certain immigrants, and foreign capt.
tai. Wealth and independence come
as every man learns to tote his own
| skillet. 1t makes him a Hercules II
achievement, developing self-rehance,
! economy, and indomiJable energy.