The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1892-02-18

oXZZ~AIt but the following
1M 4 wv article from the
GsgA oaA Baltimore Man.
|N9&SGSY nfaltuye,s' Re-
~S.G6 cord is about the
most practical and sensible thing that
has come under our notice. We have
contended all along that our true con-
dition is not as bad as it has been pic
tured, and it is pleasing to have this
opinion substantiated by such high au-
thority as that able and observant and
usually accurate journal and the Inter-
state Grocer, together with the candid
and unbiased views of Mr.. F. B. Thur
Der. The Reeordsays:
The Manufactures Record, while
fully admitting the loss incurred by
the South through the low price of
cotton, has persistently claimed that
there is no real justification for the
constant reiteration of the cry of hard
times and dull year ahead. The
present trouble is partly real and
largely imaginary, and the " croakers'
are to great extent responsible for
it. The aggregate value ofthe South's
manufactured products per capita was
far greater in 1891 than it was at any
time for many years prior to five or
six years ago, and a larger percentage
of the population was employed at
good wages than in former years. But
the cry of low-price cotton was made
from one end of the South to the other
until people almost forgot that the
South produced anything but cotton.
The value Of the South's grain crop
exceeds the value of its cotton crop,
but this and all else that is favorable
has been overlooked, and the press
and the people have largely played
into the hands of those who are seek
ing to turn capital and emigration
West by claiming that the South is
poverty stricken. 1t is time to cry
halt. These points are strikingly
illustrated in an interview with MIR.
F. B. Thurber, of New York, published
in the Interstate Grocer. The Gr0eer
says:
Occasions arose to mention the pre-
vailing newspaper comment on an alleged
financial depression in the other States,
which was by them attributed to the
ovcr-production OF cotton, the lack OF
industries and production, the advance
ment system, etc.
Mr.. Thurber, who is a close student OF
trade conditions in the South, his firm
having an extreme business patronage
| from the Southern States, spoke OF the
condition of the South as follows:
"The depression of business at the
South lust now, in consequence of the
low price of cotton, is a striking ilustra-
ton of Southern character, which is either
sanguine or the opposite extreme. The
Southern people are impulsive, warm
hearted and chivalrous, but they lack
some of the sturdy staying qualities OF
| the people of North and West.
Contrast the condition of the South
| to-day with what it was ten years ago.
While her natural resources were then
I great, they were not developed to nearly
| the extent they now are. Cotton occupied
| a far more commanding position than it
does at present.
"Within ten years her coal and iron
| industries have been developed with a
train OF resulting industries. Cotton
| factories have sprung up all over the
| South. Her lumber interest has developed
| enormously. Her phosphates, which ten
| wears ago were confined to South caro-
| lima, are now putting millions OF dollars
| each wear into Florida. Her sugar, rice
| and tobacco interests are all prosperous.
Her fruit and vegetable crops bring hun
| dreds of thousands OF dollars where ten
years ago they brought tens. her can
| ming and preserving of odproducts and
fisheries are growing rapidly, while her
minor products, such as turpentine, rosln,
| etc. commonly known as naval stores,
dried fruits, peanuts, etc, all continue
their quota to the general prosperity.
"lIer railroads have been largely ex-
tended and transportation facilities SO
improved that the South is in much closer
connection with the principal markets OF
the country than every before, and this
year planters have generally raised Their
own supply OF corn, when last year they
were paying 81 bushel for 1t to the
| Wertern States.
"NO other section of the country has
such resources as the South; and because
they have been blessed with too big o
crop of cotton and prices have declined
to a point which is generally considered
unremunerative, some people seem to
think that the bottom is going to drop
out of the South. when i'll point OF Tact
it NAV be a positive benefit to them Ii
will doubtless lead to a further diversity
ing of her crops and the study OF econom
ical production OF her great staple
but if the South had to make cotton fol
cost from this time forward she woulC
still have greater elements OF prosperity
as the result of reasonable effort thar
any other section OF the United states.
This is the result OF her range OF ell
mate and the natural resources OF he'
fields. forests and mines. The spirit o
the New South, as represented by mel
of which Henry W. Grady Is type, L
not going to let the South stand stu
in the procession, and | look rather tt
see her at the head of it than any othe'
point in the line -.
From this opinion OF one we'll quafhet
| to express it, it will be seen that tn
workers in relation to the "impoverish
ment of the South, the financial crlsis
in the South" etc, are long way OF
} from the correct estimate Ct the actua
condition. 1t is time that merchant
generally who receive a large business
from the south should, like Mr.. Ihurber
speak good word for that section, ant
not stand indifferently by while her credi
. :. apd unfYTthfTJilv a9