The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-11-28

period averaged over S6NcHt66u CSut S a
bound. With such profits as these
prices yielded, it would have been con-
trary to all economic history If the South
had failed to concentrate all its energy
upon she extension of cotton production.
IJ could not be expected that men should
fail to grasp such money making oppor
tunitie8 as cotton growing presented for
at least two generations, or from
1900 to 1860, with the single exception
of the decade from 1910 to 1850,
during which period overpIoduction
and other causes forced prices to the
lowest 10 year average on record. 1t IS
interesting to follow the marked turn
which this decline in profits on cotton
gave to industrial pursuits, awakening
into new life the long dormant industrial
capabilities of the people OF the South.
This is illustrated by a few facts from
census reports. In 1850 the South had
1886 miles of railroad, aid the New
England and Middle States 479S miles.
By 1860 the South had increased its
mileage to 9e97, quadrupling that of
1850, while the New England and Middle
States had increased to 95f0, or gain
Of only about 100 per cent. In
1850 the mileage of the two
Northern sections exceeded that of
the South by 2463 miles. By 1860
the conditions were reversed, and the
South led by 3s8 miles. In that decade
the South spent $3.50, 900, 0o0 upon the
extension OF its railroad system, nearly
all of it having been local capital Dur
ing this period the South doubled its
capital and output Of flo r, sawed and
planed lumber, iron founding, steam
engine building, etc, ard il 1860 had
*i2 900, 900 invested in cotton mills
Nearly all Of its factories OF all kinds
were moderate in size, but in number
they aggregated "a, $50, and their capt
tai was s175, 100, 900 But this is q di
erosion.
The wonderful prosperity which cot
ton production brought about finds an
apt illustration in the simple statement
that though the South had only
one third Of the country's population,
and only one-fourth Of is white
population, the assessed value Of its
property, according 10 the census Of
1860, was So, 200, 600 900 out Of a total
of $i2, 060, 100000 for the entire coun-
try, or ID per cent. But when the war
ended, the two sec ions had been widely
separated. Relatively, one, swept BY
destruction, had been thrown back in lis
career half century, while the other
had been maryelously stimulated aud
pushed forward half century as COM
pared with the positions of The two sec
tons In 1860, thus creating great gulf
of hundred years between them. The
New England man who seeks to under
stand the South must look at it in this
light. He must see that ii is not simply
case where one section stood still for a
quarter of century as q result OF the
most disastrous war in tie worlds histo-
ry, judged financially and by
its immediate effect, and the other
8 ction advanced by leaps and bonds.
The property, the ambitions, the hopes,
the labor system OF whole ection we're
swept away, and in the destruction went
hundreds of thousands OF its ablest and
most energetic men. 1t is only that this
section may be studied in the light Of
these facts that they are mentioned.
What this section has accomplished has
been worked out under these disadvan
tages, and, understanding this, it LIS pos
sible to better understand and appreciate
the future of the cotton manufacturing
interests of region whose mills are
already consuming 100000 bales a
year, against 2 900, 900 bales for the re-
mainder of the country. Our New
England friends can, in this light,
more clearly study the forces now
at work for Southern upbuilding,
and decided whether to join their
Southern competitors on their own
ground and secure the same advantages
which they enjoy, or disregard their
competition. Personally, | am firmly per-
suaded that New England will find it
profitable to take an active part in the
development of the South's cotton mill
interests, and thus reap some OF the
profits. This section offers to New Eng
land the same opportunity which the
world has afforded to Great Britain-a
field for the employment of its surplus
capital and energy to the profit of all
parties interested. have been informed
by one of the leading cotton manufac-
turers of New England that at least
800, 600 new spindles must annually be
added to the mills Of that section to
offset the depreciation from wear and
tear. This has not been done, Believe,
in recent years.
At the present time the South is build
ing about 100 new mills, which, with en-
largements now being made to existing
plants, will need for equipment over
800, 900 spindles. At the risk of weary
| ing you with statistics, it becomes neees-