The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1894-08-30
FINE SHOWING.
GROWTH AND DEVELOPMENT T
OF THE SOUTH.
Progress Made During the Last
Two Decades---Facts and Fig
ures Which Speak for Them
selves - Marvellous Growth
Shown--Testimonial of one Who
Knows Whereof He Speaks.

II. EdmOndS, editor or the manu-
faetureys' Record, Of Baltimore, be-
fore the Southern Exchange Assocl-
alton, is true statement Of the present
condition and future prospects Of the
geeat South:
Mr.. Edmonds opened his address
by referring to the losses of the South
during the war. He stated that "the
actual money loss, as shown by official
figures, was about eight times greater
than the entire national banking
capital of the United States at present.
1t was greater than the aggregate
capital invested in all the manu-
featuring and mining interests of our
entire country. Or, in other words,
if every manufacturing industry, from
the making of pin to the building Of
ship, and every mining enterprise IN
the United States, were in one day
swept ont of existence the actual money
loss would be less than the South had
to face when it laid down its arms in
1866"
THE DISCRIMINATION OF LABOR.
Added to this was the complete dis
organization and decentralization of its
labor system and the loss of hundreds
of thousands of its ablest and most
enterprising citizens. In 1860 the
South's wealth, as given by the census,
, was Sc, 5000, 900, or just 40 per cent.
of the entire wealth of the country. In
1870 or five years after the war ended,
its total wealth was only s4oo, 1000,
900, or less than IS per cent. of the
wealth of the country.
Under such almost incomprehensl-
BILE losses the South took up the
burden Of the establishment of its
wrecked business interests and about
1880 began to show signs of re-
awakened energy, and life.
On the other hand, the North sitmu-
lated into great activity by the war,
found in the opening up of the West a
field for all its surplus capital and
energy, bringing about an era Of
development that, up to that time, had
never been equaled in the worlds
history. The vigor with which the
business was pushed may be judged
from the fact that about one-sixth of
all the Scandinavians in the world, or
100000 out of 100000 are now
living in the Northwest.
Such was the contrast between the
South and other sections in 1880, when
the first rays of the dawn Of better
day were seen in the Southern States.
Under such conditions, what has the
South accomplished Is it able to
show one e-half or even one fourth of
the progress made by the country at
large? Not only can it show this, but
it can prove by census figures, despite
all these disadvantages, a rate of
growth unequaled even by the West.
WHAT THE SOUTH HAS DONE.
1t has demonstrated 10 the world
that in iron, cotton and lumber manu-
facture it is no longer question as to
whether the South can compete with
other sections, but it is question as
to whether other sections can hold
their own against the South. Southern
cotton mills practically monopollze
the coarse goods trade and are rapidly
pushing into the production of finer
goods. Alabama is to-day making
iron at less than $3.50 per ton and
able experts have lately reported that
the Carolinians can produce the best
grades of Bessemer iron for steelmak
ing at less than S8 per ton.
In 1850 the South had total farm
assets of s2,3I4,ooo,ooo, by 1890
they had increased to s3,1S2, ,ooo,o 900,
an increase of 81 per cent, while
during the same period the increase in
all other States and Territories was
30 per cent. This it should be remem
bered was accomplished by the South
without the aid of immigration, while
the West had the benefit Of nearly
5000, 900 foreigners, who settled there
within that period.
The total value Of the farm products
of the South in 1880 was S66o,ooo,-
900, against s1,55o,ooo,ooo for the
remainder of the country. In 1896
the South produced of farm product:
100000, gain Of S1o7,ooo,
900, or 16 per cent. while the gain in
all other States and Territories wa:
only S141,ooo, 900, or 9 per cent
With total farm assets of s3,1S2, 900,
900, the South's farm products were
worth $4,000, 900, or gross revenue
of AL per cent. on the capital. Al
other sections combined had SI2,7o7,
100000 in farm operations and tht
product was 1861, ,ooo,o 900, or 49,
. per cent. gross revenue. Thus ths
South's farm interests yielded in tht
, capital invested nearly s. for ever,
dollar yielded in other sections
Moreover, by reasons of the lowe
cost of living because Of less fuel. les
| heavy clothing and less expense in al
farm operations, the net rasults il
favor Of the Southern farmer are still
greater,
. THE MANUFACTURING RECORD.
; Turning from agriculture to manu-
featuring we find that in 1880 tn
South had manufacturing capital c
e S257,ooo,ooo, which by 1890 ha
increased to s65e,ooo,ooo, a gain c
; 156 per cent, while the gain in tn
r entire country was only I2o per cen
The value OF the South's manufacturIn
!. products rose from s457,ooo,o 900