Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1894-09-19

From all parts of the South comes excel
lent reports of material progress. The
Southern corn crop is greater than ever be-
fore; the cotton crop is large and of fine
quality. In Texas the latter is the largest
that the State has raised, and the prospect
of the market is assured. While cotton is
now cheap, it will not do TO overlook the
fact that six cents pound for cotton nova
days is very different thing from what it
was few years ago. People generally have
not yet learned to take into consideration
the fact that the modern bye products of
cotton are worth nearly two cents a pound
more, so that the farmers six cents is really
equivalent to eight cents.
The corn crop is so large that the South
will this year have surplus instead Of be-
ing compelled to import corn for her own
consumption. The outlook for her manu-
featuring industries, and her cotton mills in
particular, is better than ever before in her
history, and in every substantial and mate
rial element of business the general condi-
tion of the South is most encouraging aud
satisfactory.
In respect of Southern railroad interests
the reorganization Of the Richmond Termi-
nal system and the merging of the thirty or
forty railroads composing it into the new
Southern Railway Company is nothing
of A.
ern business affairs of all kinds its sgni6
canoe cannot be oyerestimated Ii means
the substitution in the pivotal industry and
dependence of the country Of order in the
place of chaos, aud of stability and respon-
sibility in the place Of absolute irresponsi-
bility.
The Southern Railway is the result of the
practical obiteration of between thirty and
forty corporations, the elimination Of mil
lions of fictitious valuation and unreasona.
bic burdens, and it sets up in their place
solid, resourceful and vigorous railroad sys-
TEN founded upon modern aud scientific
economics and of the first efficiency. This
has been accomplished by Mr.. Samuel
Spencer, in conformity with the general
plan and purpose of the reorganization un-
dertaken by the great banking house of
Drexel, Morgan q Co.
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 those OF the Terminal
system in particular. Besides, it is doubt
ful if anybody is better qualified for dealing
with the familiar ailment of railroad dropsy.
When Mr.. Spencer was elected President Of
the Baltimore and Ohio Railroad Company,
one OF his earliest acts in Office was 10 take
100000 of the surplus Of that great cor
poration by simple stroke of his pen. 1t
is 20 this gift of Mr.. Spencer's that we may
attribute the fact that the Southern Railroad
Compony enters upon the conduct Of its
business, even after such conditions have so
long prevailed, earning its fixed charges and
a very considerable surplus.
Taken for all in all, the business pros
poets Of the South are, at the present mo-
ment brighter than those of any other part
of the country. 1t depends upon the peo-
pie Of the South themselves If these condi-
tons are to continue What they need is
unntermitted industry and sound respect
for law. If they have the good sense to abb
jure populism, and socialism, and anarchism
and see to it that the rights Of property are
observed in behalf Of great and small,
rich aud poor, they can be as prosperous as
they please There is no appreciable limit
10 their resources, and with industry and
honesty going hand in hand, there should
be no limit to their development. .--Mcp
York SIN.