Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1894-08-24
PUBLISHED EVERY FRIDAY.
FRIDAY, AUGUST ~, 1894.
TELLS OF A GOLDEN AGE.

FRIDAY, AUGUST u, 1894.
TELLS OF AGOLDEN AGE.
MIR. A. A. Arthur, the general man
ager of the Southern Immigration
Land and Title Company, arrived in
the city yesterday, after tour of in.
spection of the South. Mr.. Arthur
may be termed Southern Industrial
expert, and he probably is as well in
formed as to the resources and pos
sibilitiea of the South as any other
living man. He is not visionary and
deprecates anything Ike booming"
Moreover, he is, in certain sense,
an impartial critic, for, although he
has been connected with Southern
enterprises for ten years, he was
formerly Canadian aud camc to This
country free from any tradition or
sentiment to study its industrial re.
sources in purely business like
manner.
"The outlook in the South today"
said he, Sis more encouraging than it
has ever been. The representatives
of every sort of industry are ready
and eager to push work rs soon as
the tariff bill becomes law. But
you must not infer from this that
the recent panic affected the South
as it did the other sections Of tho
country. Not single bank has fnil.
cd in the South from business en-
tanglements Tho few that went
down were pillaged by their officers
Furthermore, look Mt the condition
OF Southern industries. While bust.
ness elsewhere was paralyzcd and
fnctories wore shutting down on CIV
cry hand tho South went right along
ON it's prosperous career. Look at
the cotton mills, for instance They
hive been paying dividends of from
q to 33 per cent. I have Just receiv-
ed reports from four mills which
have just paid upward of 33 per cent.
The cotton seed oil mills, the sugar
mills and the coal plants have also
prospered. While The coal miners
were out on strike in other parts of
the country, the Southern mines were
running on full time. While millions
of dollars were being lost by the
great railroad tie up business in The
South was entirely uninterrupted.
By the way, when | speak of the
South, always refer to that part OF
it east of the Mississippi.
"The great prosperity OF the South
today, however, is but an earnest of
what it is to achieve in the near fu
ture. 1t is destined soon to reach a
condition to which neither Pennsyl
vania nor any other State has ever
attained. Today, from Baltimore to
Atlanta, thele is degree of activity
which is not visible in any other sec
tion of the country, but when the
Nicaraguan canal is completed YER
liable golden age must follow. Ii
may be of interest to learn that this
waterway will shorten the time oil
carrying the British mail to Yoke
hama two weeks, to Hong Kong ter
days and to Calcutta eight days
That will mean that all the money in
vested in the East by the British ant
the returns received thereon mus
pass through this country. We have
nm air line now from New York Il
Ponta Gorda, Fla, and this COLDER
stream will pour down this on it,
way to the canal. AS you canno
pass dust through sieve withou
some of it sticking, so this enormous
wealth cannot pass backward an,
forward through this country with
out much of it finding Judgment il
Investments which will be invited b,
opportunities lying in every direction
in tempting profusion.
"Exports from the South Atlanti
and Gulf ports will be vastly increas
ed, We are shipping coal now from
Baltimore, Newport News and MOI
folk, but the canal will develop Goa
trade OF Wilmington, Port Royal
Pensacola, Brunswick and Mobile.
ut may sound astonishing, but
is none the less true, that with tn
exception of cotton growing the il
dustries of the South are in their il
fancy. 1t WAS only recently we foun
that we had iron and coal, and no
that these two products, which for.
the foundation of so many industrio
can be produced cheaper than an,
where else in the world, they mu:
attract to the South manufacturin
enterprises of various kinds. Tru
the iron business in the South hi
recently been depressed, but it W,
the only business in that ccnditio
and the depression was not attribu
cd to any defect in Southern /
sources Or methods of work.
soon. % the furnaces resume work y
shall give the rest of the world son
interesting object lessons. We CT