The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1890-12-04
THE INDUSTRIAL SOUTH.
1T Is THE BONANZA OF THE FU-
TURE.

TURE.
An English Newspapers Comment.
on the Growth and Development
Everywhere Apparent.
In commenting on the growth of the
South as shown by statistics furnished te
it by tn Baltimore Manufacturers Rec.
ord, an able and conservative English
paper the City Leader, of London,
says:
The city is full of rumors regarding
coming boom in American lands.
Extraordinary statements are being
made as to the Southern States, which,
if correct, must make that district the
bonanza of the future. Sir Lowthian
Bells advice to the members of the
Iorn and Steel Institute, to inspect
the iron works of the Southern States,
"where the national resources are so
numerous" has done much to direct
the English mind to the wonderful de-
velopments now in progress in those
districts. The return of the delegates
is awaited with some expectation, as
their statements will, we think, be ia
vorable to the country; for no one can
study the remarkable combination of
resources which the South enjoys with
out being convinced that, in natural
advantages, this section of the country
stands far ahead of any other country
in the world. In climate, soil, rivers,
mineral and timber wealth nature
seems to have done her very best for
the South.
Although crippled by disastrous
and deplorable war, she is now again
leading the van of American progress.
And it is largely Northern capital
which is aiding her in her rise, and
firmly cementing union that legisla-
ton could never perfect. The whole
country pulsates with industrial activ-
ity. Districts which few years back
were wholly occupied by farms, or
which were unreclaimed from the for
est, are now becoming centers of i'm
portant manufacturing and CONNER
cial industries. The cry is no longer Go
West" but South. Pennsylvania iron
masters are realizing the meaning of
this Southern competition in coal and
iron, whilst many Northern industries
are being transferred en- bloc 10 the
more favorable district where material
and transportation are cheaper.
There is no doubt but that the Gen.
ter of industrial development is grad
ually being transformed from the
North to the South. Mr.. Carnegie,
indeed, regards "the South as Penn
sylvania's most formidable industrial
enemy in the future" Another au-
thority, Hon. Chauncey M. Depew,
says &c the South is the bonanza of the
future" while equally potent is the
statement made by Hon. VIM. D.
Kelley, declaring "the South is the
coming Ell Dorado of American ad-
venture" But coming nearer home,
and to an authority better known to
English people, we will quote Sir Low
THAN Bell. He states: Ultimately
there seems nothing, so far as our
present knowledge permits us to Judge,
to prevent these Southern States from
becoming the cheapest making
centers in the Union," prophecy not
far from fulfillment.
Despite Wall Street manipulations,
despite low prices of steel and iron,
and all other causes which generally
retard the development of a country,
the South is still moving forward with
accelerated step. Nothing seems to
check it. From the Potomac river to
the Rio Grande there is nothing bu,
progress. Ten years ago the wealth
of the Southern States was computed
at $4,000, 1000, 900 now that wealth
is estimated to be $4,000, 900, 900
an increase of s., 900 70,
every year during the past decade
How rapid the tide is flowing South
ward few hard facts will show. The
miles of railroad built in the United
States during the first half of the pres.
est year, were 1898, of which Lila
were built in the South.
Even increased railroad facilities
cannot cope with the amount of freight
business the Southern States have
placed within their hands. During
the past nine months upwards of 5000
new enterprises, including almost ever,
new line Of industry, from the small
saw mill to the great steel and iron
works, have been organized, whilst the
first week of last July saw started ove1
IL industrial undertakings, the aggre-
gate capital of which exceeded SI7,
900, 900. Take, finally, the furnace
increase. Of the sc iron furnaces nov
under construction in the United
States, IS are in the South. More
over, while there are few or no other
new furnaces projected in other part
of the country, there are probably a
leas, 20 that will be put under con
tract in the South during the next few
months. Such details are signihcan
enough. But admitting all this indus
trial activity, the question naturall.
suggests itself: Is the boom likely t.
be real one? or, to use an Ameri
canism, has it come to stay7 After
personal inspection of those district
affected by the progressive movement
we are bound to confess that We hav
considerable faith in the boom.
/ Speaking generally, we believe th
Southern boom to be real and soli
affair. The resources of coal and iro
are ipexhaustible. The minerals GRO
out upon the sides Of the mountains an
valleys and give no trouble in working
whilst trucks can be loaded by gravi,
| fior from the mines Th. imDorta Mt noir