The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-15

Cient means Of transportation. What would
avail our resources without markets. The
progress Just recOunted could not have been
made without abundant ana cheap transpOr-
tatIOu. In ie-O. the south had ~ 572 miles OF
railway in 1890 she had constructed 43473
miles, an increase OF 30 per Centum- In lssO
the gross earnings Of southern railways were
1890. in lstp the southern roads earned
Sl5i G-2. 57& In 1850 the net earnings were
Sl7.3l9 % in 1880 s46.3s5 49,.
The south IS by DO means without water
transportation. Our states are abundantly
supplied with interior waterways our rivers
are generally larger than the rivers OF the
north, the Mississippi and its tributaries; the
Alabama the Savannah, the James and 9TH
ers. In addition TO its long coast line, access
IDLE 70 the largest ocean vessels. the south
has g.. 81 miles Of inland transportation in its
railroads and water ways.
1t may be asked. What Of the financial
force and credit OF the SOUTH
The people Of the south. in common with
those Of all sections. have Just suffered the
effects of a severe and unexam pied panic.
The causes that produced IL have been
yariously stated, and the remedies for rehef
have been as distinct and contrary. It is my
candid Judgment that no one factor acted
with equal power to break the force OF the
striugenCy as the cotton crop Of the south.
More than the repeal Of the Sherman law; for
II had not been repealed; more than the as
surance Of the United States congress, for the
assurance of congress had not been given;
more than any other one factor and possibly
more than all others combined. the cotton
crop Of the south put upon the market at the
proper time saved the states from disaster
and the people from bankruptcy.
SO much for the south as q financial factor.
What OF her credit
In 1857 there were go failures in the Uni
ted States: only 700 being in the south. In
INss there were g747 failures. 1.Sg5 being at
the south; in 1889 there were 1913, 80 in
the south; in 1890 there were 9.S42. i67 in
the south, in 1891 there were 1lG2O in the
United States; only , 1856 being in the south.
During the recent panic 5i9 banks failed in
the United States, of which number there
was only 81 in the south with 1874 at the west.
This is most credltabe showing for our sec
ton as "a factor in finance in the general gov
eminent.
The south under the dversihcation of
crops and diyersifiCatlOn Of industries is
thrilling with new life AS this new pros
peritY comes TO us il will bring no sweeter
thought than that IL adds not only to the com
fort and happiness of our section but that it
makes broader the glory and deeper in mai
esty and more enduring IN strength from the
union of states
In this republic OF ours is lodged the hope
OF free government on earth. Here God has
rested the ark of the covenant with the sons
OF men. Let us soar above all provincial
pride and lind our deeper aspirations in gath
ering the fullest sheaves into the harvest and
standing the staunchest and most devoted Of
its sons as it lights IN path and makes clear
in way through which all people Of this earuh
shall come in Gods appointed time.
The bencdictiou was asked by Rev. ].
T. Plunkett, and then amid the widest
enthusiasm awakened by the stirring
notes of Dixie from the cornet of Miss
Alice Raymond. of Washington, d. c.,
the Augusta Exposition and Georgia State
Fair was formally opened.