The Durham daily globe. (Durham, N.C.) 1889-1894, 1894-10-05
DURHAM, y. L.
FRIDAY, OCTOBER ), 1894
sorTHIK< BUSINESS SENSE.

HIEN III M STsNSL"
A entering northern statesman said re
Gently in d stump speech that he south
had no business sense We will state in
reply that he was Il very small states
man. and It is very evident that when he
got on the stump he thought himself ele-
y,teI. more than lie had been accustomed
10. When he was on the stump he was
a. high then as he will ever be, and pro-
baby. higher And if he wants any sense
let him come to the southern states. Be
sides, We attend religious services at
least once a month, in u Old southern
states. And while going to one Of his
stump speeches, if he would meet a
church, he would stop and begin his
stump speech, which would be very
stumpy, that is, short.
A Kentucky journalist, in reply, says
The south has within a few years prac-
tically monopolized the trade in certain
lines Of cotton goods, and is annually in.
creasing the volume and variety Of its
textile products. 1t is undertaking New
England on coarse goods, and in time
will underscll it on fine goods. 1t Is
putting its own capital freely into new
III IT, ZOO to 1904 II hat
it has increased them over 80 per cent.
Perhaps that isn't business sense.
In the year ending with June last the
exports Of the United States increased
$44,47s. 1913. Fifteen southern ports, at
which within a few years there have been
opened direct lines Of trade with foreign
ports, furnished $31, 1906, or Il per
cent, of this increase. In 1891 ~ this
increase Of direct trade from southern
ports was still larger, amounting to $780,
900, 600, out Of q total increase for the
United States of SAG, 900 900 -Four years
ago the south had direct lines Of trade
only from Baltimore, New Orleans and
Norfolk. 1t now loads ships for foreign
ports at Savannah, Brunswick, Pensa-
cola, Galveston, Mobile, Newport News
and Port Royal.
Perhaps that isn't business sense.
A few years ago the southern cotton
planters seemed hopelessly in debt to the
cotton factors. 1t was getting worse
every year. Ever since the war they
have been so poor that they had to Dor
row money in advance on their crops
and, what with raising nothing but cot,
ton, raising it w~astcfully, paying big in
terest, buying on credit, spending more
thar their profits for food stutfS brought
from the north and west, they seemed
fairly on the way TO bankruptcy. But
this wear crop Of cotton has been raised
more cheaply han last years, and last
years was the cheapest ever known uT
to that time. Debts have been sCaleC
down amazingly, crops have been diver
sifcd, money kept at home, and many
mortgages lifted.
Perhaps that isn't business sense.
The development Of the iron and Goa
interests of tho south has been the wonde,
Of the generation, and Birmingham i
setting the price for PittsbuIg on pi.
iron. The business failures in the Soutl
during the panic were relatively fewe.
than in the west, and the southern tinan
cial institutions came through the tria
in better shape In ten years the wealth
Of the South, reduced almost to nothing
By wal and reconstruction, has more thar
doubled. In ten years the south has in
creased its expenditures for schools % )
per cent In ten years ii has paid Of
over twenty millions OF public debt.