Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1891-02-06
ENGLISH BELIEF I'm TIVE SOUTH.
THE LONDON CITY LEADER
REVIEWS THE SITUA-
TION.

/
SIR LowTnIAN BELLS SrRoNo CoMa1EN
DATIoS Has GREAT FrrEop ON Pun
LILO Op1NIoN-THE CRY Is NO LoSoER
$50 WEsT,' BUT "Go SouTHn-TuE
ELDoRADo OF AMERICAN ApyENruRE
TIM SouTu's MAeNlrIcENr Dkys1
opMENT.
The London City Loader, one OF
the strongest financial papers in
Great Britain, has this to say of the
South's development:
The city is full of rumors regard.
ing q coming boom in American
lands. Extraordinary statements are
being made as to the enormous min.
eral wealth of the Southern States,
which, if correct, must mako that dis.
trict the bonanza of tho future. Sir
Lowthian Bells advice to the mem
bers of the Iron-Steel Institute, to
inspect the iron works of the South.
ern States, ''where the natural re-.
sources are 30 enormous" has done
much to direct tho English mind to
the wonderful developments now in
progress in those districts. The re.
turn of the delegates is awaited with
some expectation as their statements
will, we think, be favorable to the
country; for no one can study the re-
markable combination OF resources
which the South enjoys without be-
ing convinced that in natural advan.
tages, this section of the country
stands far ahead of any other coun-
try in the world. In climate, soil,
rivers, mineral and timber wealth,
nature seems to have done her best
for the South. Although crippled
by disastrous and doplorab!o war,
size is now again lending the van of
American progress, Aud it is large.
Fly Northern capital wEicn 10 aiding.
her in her rise, and finally cementing
n union that Legislation could never
perfect. The whole country pull
safes with industrial activity. Dis
tricts which years back we're Who'll
ly occupied by farms, or which were
unreclaimed from the forests, arc
now becoming centers of important
manufacturing and commercial in.
dustries. The cry is no longer "Go
West, young man, but "Go South -
Pennsylvania iron-masters are real
izing the meaning of the Southern
competition in conl and iron, whilst
many Northern Industries are being
transferred en- bloc to the moro fa-
vorable district, where material and
transportation are cheaper.
There is no doubt but that tho
centre of industrial development is
gradually being transferred from the
North to the South. Mr.. Carnegie,
indeed, regards the South as Penn
sylvanias most formidable industrial
enemy in the future. Another au.
thority, the Hon. Chauncey nj. De-
pow, says "the South is tho bonanza
Of the future" while equally potent
is the statement made by Hon. w.
D. Kelly, 'The South is the coming
Eldorado of American adventure"
But coming nearer home, and to an
authority better known to English
people, we will quote Sir Lowthian
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 iron-making
centers in the Union," prophecy
not far from fulfillment. Despite
Wall street manipulations, despite
low prices of iron and steel, and all
other causes which generally retard
the development of q 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
but progress. Ten years ago the
wealth of the United States was com
puted at S44,OoO,OOO,OOO; now that
wealth is estimated to be $64,OOO,.
100000. anincrease of S2OOO.OOO, ,ObO
for evcry year during the past de.
cade. How rapid the tide is flowing
Southwark a few hard facts will
show. The miles of railroad bnilt in
the United States during tho first