The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-07-26
MADE STRONG ADDRESSES.
CONTINUED from First Page)

!
a liberal profit. Immediately capital flows
| into that channel. another combination is
formed and competition ensues on a scale
and operates with an intensity far be
yond anything that is possible on small
er scale, resulting in the breaking down
of the combination and the decline of prof
its 10 a minimum.
"The antitrust issue viii have its day
and subside just as the greenback and
free silver Issues have, but it will have
TO be opposed, just as these issues were
opposed. by educating the people, or dis
aster viii result. The danger is in that
the consecutive element in the great
Democratic party is at the mercy of
radical element which has got control of
the party machinery ana Is dragging the
solid South along chained TO its chariot
wheels. The business men of the South
can do much to change this if they Will.
Ninety per cent. of the exchanges Of
the world are effected by credit Credit
is based on confidence confidence is based
on certainty. Honesty Is an element Sc
curity is an element ana the rate of in
terest is a measure of all this Too much
or too little credit is bad.
The field IS the world. in commerce as
with religion, and, if the South would keep
up with the procession, she must Hberalize
her legislation, keep faith with her cred
itors and seek in the wider markets Of the
WOIlQ a DldtS lOT Ine SUI IluS pIOuUElS
with which nature has so lavishly endow-
ed her."
President Orr Speaks.
In his address. President Orr said
Speaking generally the success of the
manufacturer and the wholesale dealer de-
ponds largely upon the prosperity Of the
retail merchant. He in turn, is vitality in
terested in the welfare of the producer. Its
an old axiom that no chain is stronger
than its weakest link. Let us see If we
can find 1t. For thirty years the bane of
prosperity in the South has been usury
| and the serfdom of a single crop.
Correct these, and we stand upon the
brink of an Industrial revolution. Lower
interest will surely follow higher credit.
When the farmer, like the successful mer-
chant, meets his engagements to the day,
his credit viii be better, and his time
prices. if there be any, will be lower.
"When the farmers of the South 80
| change their methods as not to use much
credit they viii become, as they ought to
| become the money lenders of this country.
| The savings bank is one of our needs. Lit
tie Rhode Island, no larger than two
| Georgia counties, has over sos, 900 900
| in her savings banks. over half the
| population of Massachusetts, counting
| men, women and children, are savings
| bank depositors. How many have we in
the rural districts of the South? Every
| state represented here is from three TO six
times as large as the two I have named.
| What a field, gentleman, we have to I'LL up.
you may tell me that savings banks
| only pay per cent and that's too slow
| a way to get rich, but when the farmer,
| who now borrows at Is per cent, Is in a
| position to loan at per cent, he will be
| IS per cent ahead of the game VIII
not that in six years double the money
II. lfsya
| what this would mean? Your local banks
would be seeking good loans among you
at per cent. They would be the first to
subscribe to the capital for industrial en-
terprises promising equal dividends.
How south May Improve.
1.-THE youth of our land, now languishng
| for lack of employment, would become
| skilled artisans, earning satisfactory
| wages, and most important of all, every
| manufacturing center would be an all the
| year-rOund cash market for the surround
ing agricultural districts
You asked me how? This Is to be
done. Every man here is when at home.
the advisor of from score to a hundred
of his customers. In their interest make
1t a condition of extending credit that
they become self-sustaining. Put them
on notice that, beginning with 1900, credit
will be refused for any supplies that can
| be raised at home. Form local associations
and blacklist people who win not pay.
Did you know that the margins absolute
| ly annihilated annually in insolvencies
would in ten years equal the national debt?
Then you are interested to see that your
member Of the legislature is sound on good
collection laws. These assured credit will
| be higher and the rate of interest low
cred. When you go home get your news
paper friends to preach less politics and
more potatoes. That will give us here and
| there a starch factory. Get them to tall;
less Of currency and more of cucumbers
and they might move some of the pickle
factories from the West.
Let them tell the people to do less
whiting and sow more wheat; tell them
| 1t takes less labor to grow hay than 10
kill grass. Tell them the keen of n chr
dog is much more than that of a merinc
sheep Let them write less of dead issues
and more of live stock. This might fiji
the country with creameries and butter
factories and, perhaps. stop some of the
revenue we now pay to Kentucky.
And, when you shall have broueh,
these things to pass, the South shall have
won its first independence. We will take
the place in history nature destined for
us, and there will open before us the
dawn of new era that will, indeed make
our beloved Southland the garden spot
Of the world"
Mai. HansOn's Address
Maj. J. f. Hanson made an address or
the subject of How the South Can Bor.
row at Lower Rate of Interest" saying
in part:
southern credit has been affected by
many things, but chief among them has
been the dominance of political sentiment
over everything else, the feeble social or.
ganism prevailing to a greater or less ex
] mt ttrr1,g 81
the tendency in most of these states &c
agitation In favor of unfriendly legisla.
ton with reference TO capital The mer
/ of the South who are doing all that j.
, being done to promote our material devel
, opment,as a rule, fully understand the fore,
of this statement, and, in the main. are
and have been, opposed 10 our public poll
cies touching the questions that arise al
this point
, In so far, however, as the sentiment o.