The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-12-12
THE SOUTH'S NEW WEALTH.
VAST GRoWTH OF THE INDUSTRY OF
COTTON MANUFICTURING.
1.ors..e IN Capital ana Tn the Number or WILLS
since 1sso-SsmIs in Most Cases RarniuE
Coed Pronts-Locai ne We'll as Foreign
r,,,t,t anyested - The Present Outlook.

l,cre.se IN CAPITAL and In the Number or MILLS
since nss0-SsnIs In Most Cases RnrniuE
cood Pronts-Local ns well aa Foreign
CAPITAL Invested - The Present OutieoE.
BALTIMORE. Dec. 1.-The development ot'cot-
ton mnnufacturing q In the South has commanded
more attention than any other industry in that
section, and Southern cotton mills have prob
ably been more generally successful pecuniari.
" than any other Industrial enterprise in any
mart of the country. In 1880 the South had
$50 cotton mills, with q capital OF S21, 300, 900.
These mills had $4,000 spindles and $4,000
looms. BY 1890 the number had increased,
according TO the census report, to 251 mills with
S6l, 100, 900 capital, 1.712,0oo epindles and
80, 900 looms. Since 1890 this business has
moro than doubled. and at present the South
has about 400 mills, representing an invest
mcnt Of nearly 1925, 900, 900, and having AGO..
600 spindles and $4,000 looms. That there
Is no danger Of OVERRIDING the cotton manufactur-
ing business OF the South may be seen from
the fact that there are in the world about s5,-
600, 900 spindles, representing an investment Of
about g., oOO, oOO, 0OO, and OF this vast industry
the United States have a little more than one
9th in capital invested, or more than 100000
600, and only about one-ffth Of the total num-
Der Of spindles. or 100000, Notwithstanding
the fact that the South produces more than
60 per cent. OF the worlds cotton crop. For
100 years the South has been raising tho cot
ton, shipping 1t to New England and to Europe,
and permitting-the manufacturers to grow rich
by turning it into the finished product. or all
the vast wealth OF material with which tho
South has been SO abundantly blessed. there Is
no other element, not even iron, equal to cotton
in Its possibilities of wealth creation for this
section. The 100000 900 q year which the
cotton crop brings to tho South would be
trebled II it could be manufactured at home.
In the last twenty years the cotton crops Of
the South have sold for an aggregate Of about
Sc. 500. 900, 900. Before they have reached the
consumer their value has increased to SIS. O00,-
600, 900 or $50. DOC. 0o0,0o0 This enormous
business, creating wealth wherever established,
is the prize for which the South has now begun
to contend. Many years ago It was vigorously
claimed by the cotton manufacturers of Eng
land that New England could never become a
serious competitor with their country in cotton
manufacturing. Our climate" they said, 'fs
better suited for cotton manufacturing, espe.
cially for fine goods. Our labor has had more
experience and is moro skilled. Our capital Is
more abundant and is cheaper" To their
minds these arguments were convincing. but
while they argued New England went on
building mills and making cotton goods.
when the South first undertook to develop its
cotton manufactures with any vigor the people
of New England ridiculed its efforts and de-
clared that the South could never develop a
large cotton manufacturing business. Its
climate" they said, "is too enervating and
hasn't the degree of moisture needed, as ours
has: 1t has no skilled labor; capital is scarcer
than with US, and interest rates higher. and.
besides, our New England people are 80 ener.
getic and 80 much better able to retain their
business than Southern people are to win it
away that the South will never become a se-
rious competitor in cotton manufacturing"
The people who said these things, and they in.
cludcd the leading manufacturer and business
men generally, honestly believed their own ar
guments. Matters did not work out in the way
they predisted., The South was seen TO be rap
idly capturing the coarse cotton trade and alb
~solutely. controlling.it. Under these conditions it
became necessary to find some new arguments,
and then it was unanimously decided by all
New England. following exactly Great Britain
in its arguments of years ago as related to New
England, that the South could possibly make
coarse cottons successfully. but:t was out Of the
question for it to spin tne yarns. New Eng.
land" they said. Twill always retain its su.