The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1897-12-14

ent Outlook.
| Baltimore, Dec. 1.-THE development
Of cotton manufacturing IN the South has
| commanded more attention than any other
Industry in that section, and Southern
cotton mills have probably been more
generally successful pecuniarily than any
other industrial enterprise in any part
OF the country. In 1889 the South had
lSo cotton mills, with capital of 81, 900,
600. These mills had 667, 600 spindles and
$4,000 looms. BY 1880. the number had
! increased, according to the census report,
to 254 mills with SCI, 100, 600 capital, 1,
7l2. 600 spindles and 1908 looms. Since
1880 this business has more than doubled
and at present the South has about 400
mills, representing an Investment of
nearly s125, 500, 900, and having 100000
spindles and 115, 900 looms That there Is
no danger of overriding the cotton manu-
featuring business of the South may be
seen from the fact that there are in the
world about IS, 100000 spindles, represent
ing an investment of about 50, coo, 900, 600,
and of this vast industry the United
States have o little more than one-fifth in
capital invested, or more than $400, 900,
| 900, and only about one-ftth of the total
number of spindles, or II, 000, 900, not
| withstanding the fact that the South pro-
duces more than 90 per cent of the world s
| cotton crop. For 100 years the South has
been raising the cotton, shipping it to
New England and to Europe, and per-
hitting the manufacturers to grow rich
by turning it into the finished product
OF all tbs vast wealth or material with
which the South has been so abundantly
blessed, there is no other element, not
even iron, equal to cotton in its possibili-
ties of wealth creation for this section.
Tie $500, 900, 900 year which tine cotton
crop brings to the South would be trebled
If it could be manufactured ut home.
In the last twenty years the cotton
crnDs of the South have sold for an aggre-
gate Of about Sc, 500, 600, 600. Before they
nave reached the consumer their value
has increased to- SIS, 600 900, 900 or $40, 000,-
600, 900. This enormous business. creating
wealth wherever established, is the prize
for which the South has now begun to
contend. Many years ago 1t was vigor-
ously claimed by the cotton manufactur-
ers Of England that New England could
never become a serious competitor with
their country in cotton manufacturing
Our climate" they said, sis better
suited for cotton manufacturing. especial
ly for fine goods. Our labor has had
more experience and is more skilled. Our
capital is more abundant and is cheaper. ~
70 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 de-
velop It's cotton manufactures with any
vigor the people OF New England ridiculed
its efforts and declared that the South
could never develop large cotton manu-
featuring business. Its climate they
said, sis too enervating and hasn't the
degree of moisture needed, as ours has; it
has no skilled labor; capital is scar5er
than with us, and interest rates higher,
and, besides, our New England people
are so energetic and SO much better able
to retain their business than Southrn
people are to win 1t away that the South
will never become a serious competitor in
cotton manufacturing. The people who
said these things, and they included the
leading manufacturers and business men
generally, honestly believed their own ar
guments. Matters did not work cut in
the way they predicted. The South WAS
seen to be rapidly capturing the coarse
cotton trade and absolutely controlling
it. Under these conditions it became
necessary to find some new arguments,
and then it twas 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 sue
cessfully, but it was out of the question
for 1t to spin fine yarns. NEW England"
they said, will always retain its SUI
premacy in fine eottons. Even today
such claims are often heard, but they
now sound like the graveyard whistle,
intended to bolster up courage that is fast
slipping away.
Starting without capital and without
the South has already practi-
caliy .monopolized the coarse cotton trade,
and is pushing into finer goods with the
determination to capture that line. The
world needs are growing. Increasing
wealth of the masses increases the re-
quirements per capita Of cotton goods. |
The extension of civilization into the
dark places of the world opens new fields
for cotton goods. Civilizations advance
is measured by the increase in cotton
This increase must go on
constantly, and the 5000 co.. bale crop
aust be exceeded before many years by
crops of 10, 900, 900 and then II 600, GOO and |
then II, 100000, as the worlds ever-in- |
pressing requirements shall demand.
With this growth, and even more rapid |
y than this, will the cotton-Inanufactur-
ing interests of the South develop. While |
the increase in the number Of spindles in
Southern mills from e67, 600 in 1880 to |
|. 200, 600 in 1897, was taking place, the in
crease in the rest Of the country was from
9,9S6, 900 to Is, 900, 600. the gain in the
South being about 500 per cent and in the
whole country outside Of the South about |
30 per cent. In 1880 the South had one
fifteenth of the number of spindles in the
country; now Ii has nearly one-fourth of
5he number. Cotton mills are probably |
'he most popular form of investment for
ocal capital in the Carolinas and Geor- |
sia. Nothing else seems to appeal so di- |
'eotly and forcibly to all who have spare
money to invest. The result is that the
advance in mill building in |
hose states has been due almost wholly |
20 local capital. The mills are in nearly |
III cases earning good profits. thus stead |
ly increasing the popularity Of cotton |
Mills as safe place for money.
One of the most marked features of the |
Industrial development of the entire |
,ountry has been the very great activity
n cotton mill building in the South. The |
Of the mills in operation, even
rrir hn of 1909