The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1888-11-01
GROWTH OF
THE SOUTH.

ne baltimore LHUHHfUf[H1fT rec
Ord of October 9th publishes a list of
new enterprises established in the South
during the first nine months of 1888,
from which it is seen that there is a
very healthy growth along this line.
The figures as compared with those of
1911 shows large increase in favor
of the present year, with most prom
lsing and gratifying future outlook.
The Manufacturers Record says:
The nine months which have Just
ended have marked very important
period in the industrial history of the
South. The great boom of 1887
brought into existence many gigantic
land companies and many iron, coal
and other companies, organized for
the development of the South. The
boom is real estate, and the speculative
fever which it engendered, was looked
upon with fear by many who antici-
pated financial trouble when the reac-
ton came. AS the calm inevitably
follows the storm, Sc the excitement
in real estate and in the organization
of enterprises partly based upon real
estate, has been succeeded by period
of depression in land values, with COM
paratlvel Y few sales. Instead of bring
ing disaster, as many had feared, the
South has gone steadily forward, its
great enterprises pushed to completion
and new ones, large and small, organ
lied in great number. Here and there
the decline in real estate has Temporal
rily retarded the progress of some new
enterprise, but as the dull season is
now closing, to be followed by a period
Of activity, due in part to the album
dant crops and in part to the univer-
sal prosperity of Southern manufact-
ures, we may look for a revival of many
projects now held in allegiance, and
the projection Of hundreds of others.
Nothing could better have demon
strated tbs thorough soundness of the
industrial growth Of the South, than
the way in which all business interests
have stood the tight money market
and the real estate depression which
followed the boom. The capitalists
of the North have closely studied these
matters, and we venture the prediction
that their faith in the continued progress
and prosperity of the South is greater
to-day than ever before.
Never before in the history Of the
South was the outlook brighter than it
is now. The immense furnaces and
rolling mills, car works, cotton mills
and kindred enterprises, upon which
work was commenced from twelve to
eighteen months ago, and which during
all that time have been virtually lock
ing up the capital invested in their
construction, are now, one after anoth-
er, rapidly going into operation. More
over, they are beginning their careers
as wealth producers at a most auspi-
cious time, when the demand for all
their products is active, with prices
yielding a good margin of profit. Soon
they will be taking the crude material
and turning opt millions Of dollars
worth OF finished product to help en-
rich the South. The corn crop, the
second IN importance i'll the South,
has made another advance, and the
total reaches $4,000, 900 bushels, the
largest amount ever produced by the
South, being 41,ooo,oo bushels great
er than in 1887, and 100, 900, 900
greater than in 1854, only five years
ago. The yield OF cotton is some
what uncertain, but doubtless that will
be but little, if any, less than the
splendid crop Of 1887, while prices
will probably average higher, as the
worlds consumption of this staple is
now so enormous as to cause a steady
decline IN the stock. Railroad con
struction is now active, and the heavy
investments of foreign and Northern
capital IN The improvement of old
roads and the building of new ones
attest the faith OF the world at large in
the truth Of Judge Kelley's glowing
predictions OF the South's great future
as given n the last issue of the Mann