Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-05-16
THE INDUSTRIAL
CONVENTION.
Continued From Page 1.


world. and as sequence to be rapidly
followed by revolution in its CONNER
cial and financial centers, changing in
a short period our social and intellect
ual conditions
Ihis is the grand mission of the con-
vention here assembled. The Souths
wonderful undeveloped resources are so
ample that her people could build
around her borders an immense wall.
staying ingress and egress, and yet en-
JOY great luxury in food. clothing, cli-
mate. health and noble character This
Is not true of any other similar area
known to civilization. With all of these
attractive conditions confronting us,
the clear-headed business Judgment and
patriotic pride of our countrymen
should be stimulated throughout the
cotton States and challenged to land
helping hand in building this enchanted
land into an abode of wealth. comfort
and advanced civilization.
WEALTH THE SOUTH IN 1860.
IN 1850 the eight States which are
designated as the cotton-growing States.
to.wit' Texas. Arkansas, Louisiana,
Mississippi, Alabama, Georgia. North
Carolina and South Carolina repre-
sented thirteen per cent. of the citizen
snip OF the United States and 26X per
cent of the National assessed wealth
making about $1,000 per capita wealth.
The other twenty-nine States combined
81 per cent. of the population and 1917
per cent. of the assessable property. or
nearly $2I5 per capita wealth.
AT that date the South enioyed ncar-
~ S4.O0 OF per capita wealth to 90 in
the other sections. The five States east
Oh tile Hudson river-Connecticut. Mas
sachusetts Maine. New Hampshire and
veTmont-known as New England. had
IN 1850 twelve per cent of the American
tional tax values. or about s5lO ner
capita wealth. The truth of our condi-
tion was brilliant and historical and
TINS Is by no means a highly colored
line OF data. prepared to please the pub
lie. but 1t testifies to the d resent gener
ation that forty years since our section
was the centre of American wealth and
exceeded the per capita wealth of New
England nearly So to 81. telling this gen
Grafton that 1t is within our grasp
again.
RUIN AND WRECK I'm 1870
Five years later our section was
the scene and centre of ruin and de-
stroyed improvements. but the home of
great and abundant natural resources.
This ruin and wreck left us in 1870
to have only six per cent. against New
Englands nineteen per cent. of the ma
tional wealth. which changed the people
of the Eastern States to posses more
than 81 TO 81 in the South. This was
OF course the effects of war; and 1 have
no disposition now to grieve over il,
but we have had thirty-flve years to
regain the previous proud position of
our fathers in wealth, and have not
| achieved satisfactory results as we find
that one State In the East. Massachu-
sets. with less than three per cent of
the area OF Texas to have an assessed
wealth equal to the entire eight States
which grow cotton.
IF ii to 41,ok
as Massachusetts has purchased the
raw material of the South, coal timber.
iron. hides. wool and cotton, manipulate
ing them into a finished and servicea-
BILE commodity. that these constitute
wealth only when they become useful
TO the world as an article of commerce.
l reason. therefore, that wealth is the
fruit of labor and skill when applied to
raw and soil products. This is made
the palmer by reference to the census
of 1880. which shows that the Ameri-
can income or productive wealth was
~ per cent. agriculture and SO per cent
from manufacturing.
THE South grows so per cent. of the
worlds cotton, has 65 per cent of the
American timber and 35 per cent. of the
national coal area, and 90 per cent
greater coal area than England France
and Germany. and n large share of iron
and wool. which makes conspicuous the
fact that in cotton production we oc-
cupy a responsibility to the human race
throughout the world as its supplier of
clothing. This one supply can increase
to mitch larger proportions, white m an
other raw material, coal, iron and tim
Der. the supply must decrease.
Ihen what Is our plain duty? IT is
unquestionably to raise all the cotton
the world needs and manufacture II
into every grade and finish as the true
source Of national and domestic wealth
wiz
France and England. and ship it in our
own merchant men to all parts OF the
world. practically without competition
1t is estimated that the capitaliza-
ton OF the cotton manufacturing in
dustry is s1.5O0.00O.00o. OF this amount
our own country in 1890 had about
S3o4.o 100000. while the South is esti-
mated to have had in 1898 s12o, 0OO, 900
This Is the capitalization, while the real
value would probably exceed SO, O00 600.
600.
VALUE OF MANUFACTURED COT
TON.
The value of n manufactured pound
OF cotton ranges today from Ice to 500.
which I will discuss more in detail
later. while the average, am sure, was
in 1899 80 cents per pound, or $3.50 per
bale.
FOR instance. Connecticuts factories
In 1898 show S1S.000,0 900 manufactured
goods from 100000 pounds of cotton.
This represents the American mills.
which do not manufacture the costly
grade OF goods made by the French
German and English manufacturers.
and 1t is believed that in these mills
our cotton IS made into at least an
average of $4,000 per bale. which for
our II. 100000 bale crop OF 1898 enhanced
the aggregate value to the enormous
sum of sl.6S0 100000. while the grower
received possibly $3.50 per bale or