Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1889-03-06
POLITICS AND CAPITAL.


fohtlcians cannot be expected TO know
ny now many ties of interest the North
anu south are now connected. Northern
SENATORS and Representatives engaged in
pushing the Hoar resolutions and other
IKE revolutionary measures fancy that
tne conditions are much the same
now as IN 1861, or even later. in 1877
When the policy they are advocating was
abandoned by President Hayes as i'm
practicable They forget, or have never
nave been made acquainted with the fact
that the situation has been radically
changed, that their own constituents
have IN many cases invested largely in
southern enterprises, and that the pros
perity OF Northern mills, furnaces and
factories is now more than ever before de
pendent upon the prosperity of the
south. How largely Northern investors
are interested to prevent the passage Of
the Southern state governments into in
competant hands can be gathered from
FACTS with which the public is perfectly
familiar. The railroad statistics Of the
South since 1880 are very striking in this
regard In June of the year mentioned
the railroad mileage of the Southern
states, exclusive of Delaware, was 10, 43l
miles. In January. 1887, the mileage
had increased to 49, 167 miles. and in
January 1889, it is much greater. Six
and half years after the census year
there had been an increase Of IA. 300 IN
mileage at cost of over $3.50 600. 900
for construction alone, to say moth
ing OF the amount expended in i'm
provement and equipment. Poors Rsilr lad
Manual estimates the cost Of the con
struetion and equipment of the railroads
in the South in 1887 at 81, 300, 000, 900. as
against $40, S04 900 in 1880. Since 1887
the amount of Northern capital nut into
the construction, equipment and pur.
chase Of Southern railroad properties has
greatly increased, so that it is much
under the mark to say that Northern men
are receiving or expecting income from
as much MS $500, 000, 900 invested in
Southern railroad properties. To para
lyze industry and transportation inter
ests IN the South.by stimulating race con
hicts and setting up carpet bag and
African governments would naturally ex.
cite their opposition But the rail
road interest is not the only
Northern interest that would be
affected by new era of reconstruction.
Cotton growing is at the foundation of
numerous industries that would be dis.
as rously affected by political movements
that unsettled labor and DISCOURAGED
effort. The crop of last year conld not be
equaled II the whole country were thrown
into ferment. The Northern politician
might be Indifferent to circumstance
that affected only Southern planters and
laborers, but he may perhaps be con
concerned to know that his consti uentsare
largely interested in industries depeud
emit upon the cotton production. The
production of oil from cottonseed en-
ployed in 1880 but forty mills and $3. sod
300 of capital, but in 1885 there were one
hundred and forty six mills and $40 702 |
100 of capital employed AT present the
industry Is much more extensively deyel-
)ped, and the men principally engaged in |
L are Northern men. Northern capital
Is abundantly invested also in the cotton
mills of the South The number of such |
mills in 1880 was but 1870, with 7t3 $50
spindles while in 1886 the number Of |
mills was 353, and the number of spindles |
| 400, 607. Here is an increase in six wears |
Of 100 per cent, and the rate of growth |
has been maintained. The mining OF coal
and ore and theproduction of iron and steel |
have attracted large numbers Of North |
ern men to the South and have caused |
The influx of vast amount of Northern |
capital. In 1880 but 6,049, All tons Of
coal were produced. and but 300, 430 tons
u coke. II took but five years to double
the production of coal and treble that Of /
'oke. In the census year the South
made but 397, 301 tons of pig-iron. In
i've years this production had been nearly
ioubled and at present it exceeds a mil
ion tons year The significance Of
his development lies in the fact
hat all the millions invested by
Northern men in the various indus.
ries enumerated are on the side of good
II money can be said to
lave political leanings, these millions are
o large extent Republican, but they
IRE not African, and they deprecate the
in Southern politics of the
olored element and of the white element
hat has hitherto led the colored voter.
his was seen in the request made of
ieneral Harrison by the Birmingham
elegation, composed chiefly of Northern
capitalists settled in Alabama, that he
'ould help them to build up protection
It party in the South Inv discardino tho