Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-06-25
SOUTHERN WEALTH.


Editor r. H. Edmonds of the Manu-
facturers' Record in a recent address at
Asheyille to the North Carolina Bank
ers' Association on the Industrial Po-
tentialities of the South made some
interesting and instructive observa-
tions from his long experience in the
field Of Southern industry which has
enlarged tremendously during the past
two decades.
Before entering into details OF the
progress in the South, Mr.. Edmonds
recounted the advance in the whole
country. In 1850, the total wealth OF
the United States, as reported by the
census, was $7,135,000 ,oO0 1t is esti-
mated that the census of 1900 will show
a total wealth of $4,000 100000 an in
crease of $25 100000 in ten years
In thirty years the wealth of the coun-
try has been more than tripled.
Five years ago the value of our for
eign exports averaged $850,0OO,0OO
year and Great Britain's $1,10O,0OO,OoO
This year, the exports will reach ST.
EGO 900 600 and Great Britain's will be
nearly $10O,00O,O0O less. Our exports
are exceeding imports by about $780,
100000 year.
In 1880, the total capital invested in
manufactures in the United States was
$z,790, 100000. If the increase for the
last ten years equals that of the decade
between 1880 and 1890, the total will
amount to $4,000, 100000. Railroad
mileage has increased in twenty years
from $4,000 miles to nearly 100000
miles, about one-half the railroad mile
age of the world. In two decades, min
eral products have increased from
$369, 10000 to 76,OoO,oOO.
Mr.. Edmonds believes that the South
has gained more proportionately during
the past twenty years than the re-
mainder of the country The figures
he gives bear out his statement. This
gain has been made in the face of al
most insurmountable difficulties. The
assessed value of property in the South
decreased from 5000 100000 in 1860 to
SO ,064 900 900 in 1870, The money loss
was even less than the loss by death of
thousands of its ablest men-men who
were its workers, manufacturers and
merchant princes.
Twenty years ago the railroad mile
age of the South consisted of short, dis
connected lines, and usually badly
equipped. The mileage has increased
from 20,612 miles to $4,000 miles. In
the same length of time the cotton pro-
Guction has gone f'~m 5.755J0o bales to
ever 100000. Two decades ago the
cotton mills of the South consumed
1SS,744 bales. Now they absorb over
1900, 600 bales.
Continuing Mr.. Edmonds says: Its
cotton-oil industry, then but an infant
with forty mills, having a capital of on
u $3,500,000. now has about 500 mills
with capital of over 100000 900. Then
its yield of grain was 31,000,000 bush
els; last year its farmers gathered
eco 900 900 bushels Then it mined g.
000 900 tons of coal; last year it mined
43.000000 tons. Then i produced 397,-
600 tons of pig-iron: last year its fur
naces turned out 100000 tons. much of
ItaJ, bat IN,
tiers of Europe. Production of phos-
plate rock was 100000 tons; last year
1t was 100000 tons.
THE total value of its farm products
in 1880 was $571 100000; last year its
farms yielded about $1,000, 900, 900 In
1880 it produced $4,000 barrels of pc
troleum; last year its oil wells yielded
15,000,000 barrels. At that time the
total capital which it had invested in
manufacturing was $251 900 600, and the
value of its manufactured products was
$445, 000, 900. The new census will pro-
hably show that its manufacturing cap
ital is not less than 81 900. 900, 900, and
the value of its manufactured output
considerably above $1,500,000,OO0. In
1880 the value of exports through
Southern ports was 1921 ,0OO, 900; in
1900 it was $3.50. 900 600
This is an astounding recital Yet
1t is but the opening chapter. The next
decade should see even greater develop
nents IN the South and undoubtedly
VIII. The pace has been set and will
probably be qulckened.