The times. [volume] (Richmond, Va.) 1890-1903, 1897-05-09

otrcies and 70 encourage European hoid-
crs of idle capi.al TO invest II IN American
securities and enterprises
Again" said be, the enormous ~
crease In outr"t OF gold from the woria
mines which the next four years WIZ VII
ness coupled with the wei-cons'ntre'
currency legislation winch viii uouoN'7S
follow the forthcoming monetary com
missions report. viii help TO remove INC
single barrier IN the way OF great t"1'
wave Of prosperity. namely. apprehension
lest this country may be IN danger OF
being placed on silver basis.
"Phcn the effect OF tho adoption by
Jopan Of the 32-tol ratio viii. Ia four
years be felt In a way calculated 10 sho"
the utter iInpracticability OF silver COM
age az the ratio OF Is TO T.
what about the South I'm my jucg-
mont" said Mr.. Proctor. ~ our Southefn
people viii only seize IL, There Is about 10
be offered to them such al opportunity
for securing what they most need-capi-
tai for the development OF their resource.
as was enjoyed by the West IN IT'S paiin-
lest days Most Of the capital that Hooded
the West was invested in farm mort
Cages. whereas tho capital Which, under
a wise policy on the part OF our people
may be relied upon to come into the
South. Will De invested in industrial en-
tcrprises Of magnitude. whose operation
win make a kind OF prosperity Impossible
in merely AGRICULTURAL sections"
I asked him what he thought was the
course TO b pursued by the South rs a
condition precedent to these large invos--
rnents and the consequent Industrial de-
velopment.
simply TO live up 10 IT'S Inheritance ot
Anglo-Saxon principles and traditions
chief among which is love Of fair play.
This would Involve doing three things,
one Of which is to keep getting further
and further away from all sorts Of BpaD-
cial hercsies and errors; another is 70
recognize how essential 10 its prosperity
IS the cooperation of aggregated capital
how corporation Is a word almost the
same IN sound and sense with co-opera-
tion-and then TO enact laws for the
most adequate ard ample protection or
the capital already invested In the South
a. well as that needed for future dcvel-
oDment."
That is 70 say" 7 added. 1T is your
opinion that the South should steer as far
away as possible from tho rocks ana
reefs described in the now famous news
paper editorial entitled What is the Mat
ter with kansas
"Yes. that's about what mean. The
Southern people do not belong and cannot
feel at home. in any crowd or company
where there is lack of regard for tho
rights OF others.
Did you ever notice how the man VINO
is characterized by true seif-respect Is
most scrupulous in recognizing the rights
of others? As the Southern people are
self-respecting. lovers OF justice. and At
the same time endowed with that other
Anglo SaXon attribute. the ability 10 see
their own interests and 10 take care or
themselves, IL is reasonable TO consider
any temporary craze, which may be
either an obstacle TO thrift and progress,
or Incompatible with fair play, as due 10
misconceptiOn or to transit0ry influences.
Therefore, no kind of 'anti-corporauon
feeling can take deep root in the South.
Again, the good sense OF the Southern
people will. in time, lead them TO see that
there can be no permanent political ar
ance with the West. because OF the utter
lack Of community OF interest. No poilt-
zeal alliance can last without some COM
mon commercial ground TO stand on. Iae
West is the South's competitor for desir-
able immigration, for capital whereWith
70 upbuild and develop. as well as IN
other directions. The East is the South's
natural commercial ally-its market It's
source of supply-competing with the
South nowhere along the lire. Therefore
sober second thought will bring the South
which needs the Easts cooperation TO
affiliate politically with the section oner-
ing cooperation and not competition.
"Hostilities to corporations diitted
southward from the West. but "ouid
never have got even a temporary iods-
mont in the public mind II our people