The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-11

Of 1S9i-95 Then there was depression in
almost every kind of business. People
talked OF hard times and the newspapers
devoted a great deal of their space to the
prevailing business depression. The out
look was gloomy. and signs Of returning
prosperity were diHcult to find 1t was
known Of course that the cotton crop was
a big one. but doubts were expressed that
it would bring enough to much more than
pay the cost of producing it.
A remarkable change has taken place
since last September. We enter upon this
business season feeling assured that the
hard times are behind us and that there is
period of prosperity-perhaps a long
one-ahead of US. Confidence has taken
the place of uncertainty. The hum of in
dustry is heard throughout the land. The
tramp armies have dispersed and the army
of workers has swelled to enormous pro
portions. Wages have advanced ana are
still advancing. There Is work for all
who want TO work The picture of in
dustriaI and business conditions presented
this year is in striking contrast with that
presented at the opening Of the cotton sea-
son last year
It is true the cotton crop to be mar
t~o+o4 th;s sa,son a. not 81 1arga as that
of last season was. but the price of cotton
is much better. and the prospect is that
this years crop will bring the cotton pro-
ducers more money than they got for
last years crop. And the profits Of the
crop will be much greater, because it was
made at much less cost.
Taking into account the conditions which
prevailed throughout the country during
last year Savannah has very little reason
to complain of her business. She Jared
much better than most other cities. Her
trade fell off to some extent, but not as
much as might have been expected. with
the low price of cotton and the destruction
of the orange crop in Florida it would
have been strange If there had not been
some shrinkage in the volume of her bust
ness. The territory tributary to her had
not the means to purchase as much mer-
chandise as in previous years. The cotton
producers. after paying their obligations
had little left for the purchase of either
necessaries or luxuries. and in Florida,
where Savannah does a great trade. the
people. after the destruction of the orange
groves, ceased to be as good customers
as they had been.
plies is so large. and is so steadily in
creasing. that the volume Of her trade was
not so very much less last year than it
was in previous years. Now that better
times have come it may be reasonably ex-
pected that the volume of her trade will
show large increase each succeeding
year. A class Of her business that is
growing, and which is an index of her
increasing Importance, is that of bank
ing. Her bank clearances last year were
$l6,OO0,OOO greater than the year before.
These clearances indicate that Savannah's
business influence is reaching into new
fields, and that she is becoming the bank
ing center Of this part of the south.
Savannah's position in the naval stores
trade Is well known the world over. She
is the greatest market for the products
of the pine tree. And there is every rea-
son for saying she will continue to be for
the next quarter of century. The pine
forests tributary to her are still so i'm
mense that the naval stores operators
who are acquainted with them only smile
when it is suggested that the time must
soon come when Savannah will cease to
be the leading naval stores market.
1t is a source of profound satisfaction
that the affairs of the Central railroad will
soon be settled and the road placed on a
sound financial basis. 1t is now expected
that the reorganization of the Centrars
properties will be effected by Nov. 1. The
financial difficulties of the Central, which
have continued for more than three years,
have had a most depressing effect upon
Savannah, and it is confidently believed
that when they are ended. and the new Sc
curities of the road are placed upon the
market, beneficial effect will be notice.
able in the security market, in business
and In real estate dealings. The bank
ruptcy of the Central was about the Sc
verest financial misfortune from which
Savannah has ever suffered, though she
has suffered from number within the