The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1891-01-29
These may be dry facts to the reader

who has little interest for statistics,
mean much to large number of
but dry as they seemingly are, they
people who extract their living
through the instrumentality of the in
dustry.
The cotton mill men all over the
South, with rare exceptions, are look
ing forward to a year of great pros
perity in their line. The demand for
their product was never greater, and
while the prices have been at times
unsatisfactory, they have been good
enough to create gratifying dividends.
Every year new markets are being
found for Southern cotton goods, and
every year the quality of these goods is
becoming better.
Much New England capital has
come South during the past year, and
become invested in spinning plants !;
beside, many plants entire have been
moved bodily from their New England
moorings, and have sought Southern
locations, near the cotton fields. Sim
ultaneously with the Force bill oratory
of the distinguished Senator from
Massachusetts,, more than half dozen
important movements are making in
Boston and elsewhere in the Bay State
looking to the establishment of enter
prizes in the section whose business
interests Senator Hoar aspires to
cripple.
The cotton mills of South Carolina
have been especially profitable during
the past year, and not small portion
of their stock is owned by Massachu-
setts capitalists. The same is equally
true all over the South, in other lines
as we'll as cotton. There is COM
munity of interest between the Bay
State and the great cotton interests of
the South. Young Southerners go to
Lowell and other Massachusetts towns
to apply themselves in the machine
shops and factories, learning all the
minutie pertaining to the textile
trade and manufacture. The Southern
manufacturers buy much of their ma
chinery from Massachusetts, shops, and
thus there exists tie between Southern
mill men and the people of the Bay
State.
During the year of 1891 there. will
be vast increase in the number of
Southern cotton mill spindles. There
will be corresponding improvement
in the character of goods manufac-
tured, and there will be still greater
widening out in the markets supplied
by Southern mills.
The past year witnessed the estab-
lishment of large number of hosiery
and knit-goods mills throughout the
South. Virginia has been notably
prominent in this new departure.
That State has also been active in the
establishment Of other kindred textile
enterprises. For example, in the town
of Salem a woolen mill is being COM
pleted, a knit goods mill is in pros
pect, a clothing factory is under con-
struction, and at other points in Vir-
ginia this statement may be reiter-
ated. Only couple of weeks ago a
representative of wealthy New York
syndicate was in Buena Vista and
Glasgow negotiating for the location
of mill to manufacture silk braids
and spun silk and giving employment
to 900 operatives.
1t is this degree of diversificatiou
that is making Virginia head the list Of
Southern manufacturing States, and ii
is almost inconceivable, too, that in the
face of heavy State debt that com
monwealth has been able to throw of
her business lethargy and awake to hel
real material importance.
One of the best indications of the
substantial prosperity of the South
and its wonderful growth during the
past year lies in the banking capita
invested. In 1880 the banking capi
tai of the South consisted of s92,575,
900. Observe the increase in ter
years There is to-day in the South
S17I,6oo,67I invested in banks, full.
sc per cent. increase ir ten years.
The latter half of the past year ha
been more notable for the establish
ment of new banks than has been an,
other period in the history of th'
South, until there are few towns O
any importance whatever that do no
| boast OF local bank. The volume o
money in circulation is therefore
greater than it has ever been. In I88'
the census authorities did not seem t
regard it as matter of interest or i'm
portance to report the amount of capi
tai invested in Southern enterprises
The census of 1890 will show that 81,
33o,I7o,ooo has been invested in tha
| direction.
Another notable indication OF tn
South's wonderful expansion is tn
growth of her cities and towns
Within the past decade there has bee
an increase of ga per cent. in u
number of towns having a populaF
of 10, 900 inhabitants and oveEIs%