Huntsville gazette., 1892-01-09
THE SOUTH In 81.
A Years Progress in Commerce
Industry and Agriculture.
A Steady Forward Movement-A ctivity in
Every Branch of Manufacture
ing-The Greatest Crops
Ever Raised.

N The Baltimore Manufacturers Rec
ord gives the following review of the
progress made in the south during 1891:
The year 1891 has been one Of the most trying
periods through which the financial, CONNER
cia agricultural and industrial interests of this
country have ever been called upon to pass
The great financial crisis resulting from the
Barring collapse in November, 1890, overshad-
owed everything at the beginning of the year.
and the last twelve months have been striking
illustration of the ability of this country to re-
cover from heavy blow to its financial and
commercial interests. The great resources of
this country have been fully equal to the emer-
gency, and the advent of the year 1892 finds us
in prosperous condition, with all our industries
in state of great activity. Unlike the great
panics of 1878 and 1884, the crisis Of lS90-9l was
due entirely to outside causes, and not to condi-
tions created in this country. England by i'll
advised speculative ventures, precipitated the
trouble, and in the emergency the United States
was called upon to right matters. The necessi-
ties of the case caused a severe drain upon the
financial resources of this country, but the
equilibrium has been once more restored, with
comparatively little injury to our financial and
commercial interest
The past year has been period of slow re-
covery from the great blow, but the recovery
has been steady continuous and thorough, and
| the opening of another year brings prospects of
the brightest character Nature has come nobly
to the aid of this country with bountiful crops
of every kind, ample enough not only to meet
all requirements of home consumption, but also
to supply the deficiencies existing in other parts
Of the world. The last half of the year has
been especially period of activity and pros
perity in nearly every line of business, and the
growth of trade shows how fully and how rapid
ly the recovery has taken place.
DA@,xr IL e Al
past year there have been trying periods in every
section of the country. Speculative ventures of
many kinds have collapsed, business enterprises
without sufficient capital have been toppled
over. All Of this has had beneficial effect upon
the country at large and business interests are
to-day in a more healthy condition than they
were twelve months ago. There has been a
general clearing of the business atmosphere, and
sound concerns can now breathe more freely.
1t has been especially interesting to note the
manner and locations in which the reaction from
the crisis of year ago has manifested itself,
and here again the south has cause for satisfac
tion There have been many large failures in
business during the past year, and the aggre-
gate of liabilities has been unusually heavy, but
the disastrous failures have been confined al
most exclusively to the older financial centers
of the north. The reactionary influences were Sc
yerely felt in some parts of the west where there
had been widespread collapse of speculative
entures, but fortunately the enormous grain
crops have again brought prosperity to that
section. The failures in the south have been
limited mainly to a comparatively few small
concerns of insecure footing and limited means
None of the more important interests in the
south have met with disaster, and we believe
that any well informed and unprejudiced OBJ
server will admit that the south has stood the
strain of the past year in a phenomenal man
ner. In view of the great proportion of new es-
Establishments in the south it would not have
been surprising if many of them had collapsed
under the pressure that has overthrown so
many large and long established firms in other
sections of the country, and the fact that such
has not been the case is the best possible evil
dence of the stability Of the south.
The south has not only held its own against
tremendous odds in 1891, but it has made a
record of substantial progress which, in many
respects, has never been equaled in the most
prosperous years. Nature has been especially
generous to the south. The cotton crop of
1890 81 surpassed all records and that of 1891 92
will not fall far short There has been an
enormous increase in the yield of wheat and
corn, the sugar crop has distanced previous
records and the minor crops have been bounti-
full beyond all expectation. The south has given
more literally of its products to the world than
in former years. as indicated by the great activ-
ity at the seaports. In the development of min
pendent industries there has been great
progress. and it is gratifying to note
that what has beeen done in the past year
has been done well, and with view to perma-
nance and profit. There has been less of the
speculative spirit and more of sound business
principles than ever before, and what has been
done in the establishment of new industries in
the past year will tell powerfully in the future
of the south. The year 1891 has not been O
period of uninterrupted prosperity for any sec
tion of the country, but it has resulted in i'm
measurable benefit to the south. During 1891
the south completed 2S blast furnaces, 10 rolling
mills / Bessemer steelrail mill in Maryland
and Bessemer plant in Kentucky, and nearly
finished cotton tie mills and ] tin-plate mill
and is about ready to commence building an
other tin plate and steel mill. It's production OF
pig iron 100000 TONS and of coal %, 900, ,0OC
tons. The assessed value of property increased
to S4S00, ,0O0 gain of S320,0O0 600 over
$780, and of 81 ,9O0000,000 over 1880. The corn
crop was the largest ever produced, being $685.
100000 bushels. gain of 117,0O0 600 bushels over
1890 while the gain in wheat was 1870 900 bush
els. The foreign trade of 1891 was the largest
the south ever had the total value of the ex-
ports for the eleven months ended November
80 having been S296, 500 600, increase Of S28,-
100000 over the corresponding time of 1890. The
imports at southern ports for the same period
showed an increase of 50 GOO, although the
total imports for the whole country declined
about 100000, net decline outside the
south of s13,000000. In November the exports
from the entire country were valued at $40,
100000, and of this amount nearly one half, or
$50, 300, 600, was from southern ports.
There is no better evidence of the solid, sub
stantial progress of the south in 1891 than is
presented in the more detailed account of prog
ress presented in the articles following:
ASSESSED VALUE OF PROPERTY.
GREAT INCREASE IN THE YEAR 1891
OVER THE YEAR 1890.