The Union times. [volume] (Union, S.C.) 1894-1918, 1894-09-14
Prosperity In the South.

From all parts of the South omeiexceiS
lent reports of materil progress. The
southern corn crop is greaterthsu ever be-
fore the cotton crop is large and OF #ne
quality. In Texas the latter is the largest
the State has raised, and the prospect OF
the market is assured. While cotton Is now
cheap, il will not do TO overlook the fact
that six cents a pound for cotton nowadays
is very different thing from what it was n
few years ago. People generally have not
yet learned to take into consideration the
fact thot the moSsSp bye-products Of cotton
are worth nearly two cents n pound more,
so tha, the far mer's six is really equivalent
to eight cents.
The corn crop is SO large that The South
will this year have a surplus instead of be
ing compelled to import corn for. her own
,consumptiop, The outlook for her manu-
featuring industries, and her cotton mills
in particular, is better than ever before i'll
her history, and in every substantial and
material element Of business the general
condition Of the South is most encouraging
and satisfactory
In respect of Southern railroad interests
the reorganization of the Richmond Termi-
nal system and the merging of the--thirty
OF forty railroads composing it into thcinew
southern Railway is nothing short Of rev
olutiouary. AS affecting Southern business
affairs of all kinds its significance cannot be
overestimated. 1t means the substitution
in the pivotal industry and dependence OF
the country of order in tha place of chaos,
and of stability aud responsibility in the
place Of absolute responsibility. Never
in the history of railroads was such hope
less chaos aud incfiiciency manifested as in
the administrator of the thousands and
Al Il, 80 Atrn flo
and indirectly involved in the Rich.
moud Terminal system. Shippers could
pace no dependence upon the railroads.
They had no guarantee that goods confded
t. them would reach their cons,gnee, or that
goods they had bought would ever arrive.
And above all they had no redress. There
was no such thing rs recovery of loss, even
when the courts had done their duty and
ordered restitution. Ii was one vast sys.
tenn of inciticiency, mismauagement, and
worse, and its ehcc. upon all mercantile
business was disastrous.
1he new order of things is very different.
The Southern Railway is the result Of the
pratical obiterati1n of between thirty and
forty corporations. the elimination Of mil
lion, Of fictitious valuations and unreasOna
ble burdens, and it sets up in their place n
solid, resourceful, and vigorous railroad
system founded upon modern and scientific
economies and Of the first efficiency. This
has been accomplished by Mr.. Samuel Spen-
GER, in conformity with the general plan
and purpose of the rcorganiza under
taken by the great banking house Of Drex
cl, Morgan X 60.
Mr.. Spencer in addition TO being one of
the first railroad men in the country, was
specially equipped for the problem in hand
by his intimate knowledge Of Southern rail
road properties, and of those of the Term
nal system in particular Besides it is
doubtful if anybody is better qualified for
dealing with the fami iar aimcnt of railroad
dropsy. When Mr.. Spencer was elected
President Of the Baltimore and Ohio Rul-
road Company, one of his earliest acts in
office was TO take $50, ,OO0, 600 off the surplus
Of that great corporation by a simple stroke
of his pen. 1t is to this gift Of Mr.. Spcncer's
that we may attribute the fact taat The
Southern Railroad Company enters upon the
conduct of its business, even after such con-
ditions as have 50 lorg prevailed, earning
its fixed charges and n very considerable
surplus.
Taken for all in ALL the business pros
poets Of the South arc, ut the present mo-
mcrt. brighter than those of any other part
Of the country. 1t depends uron the peo-
pie of the South themselves if these condi-
tious arc 10 continue. What they need is
unintcrmi ted Industry and a sound respect
f,r law. IL they have the good sense to
ahiurc populism, anl socialism, and auar-
chism, and see To it that the rights of prop.
erty are observed in behalf Of great and
small, rich and poor, they can be as prosper
Gus rs they please. There is no apprcciable
limit to their rc-Ources, and with industry
and honesty going hand in hand, there
should be no limit to their development.
Let them study the lesson that Texas has
learned at such grievous expense and pain
iul retarlation. Her Reagans and her
IIoggs, whom she is now at last repudia,ing,
have cost her untold millions Of dollars and
have put back her natural and reasonable
development by at least rs much as fifteen
years San.