The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1901-09-05


surfing their usual quota Of cotton.
Moreover. there are signs that trade
is picking up. and there is every rea-
son to hope that now that the trade
with the far east has revived, and
that with South America is improv-
ing. the demand for cotton goods VIII
soon be as brisk as ever it was"
Somewhat the same consideration
has led The Times Democrat to de-
clare that "in spite of the great in
crease in business the past season, the
south and west have never been so
independent financially as they are
today. 1t Is true that they need add
tional eastern capital for the develop
ment of their resources, and that
many millions of dollars can be invest
ed in these sections profitably, but
home capital is more abundant than
ever and sufficies for the movement
of the crops. for which the aid of New
York and Otner eastern cities had 70
be called on Of old" st. Paul and
Minneapolis are equal to tne trans
portation Of the wheat crop and
Coming to the south, much the same
condition of affairs prevails. The
banks of Memphis. Galveston and
New Orleans, the three great cotton
centers." says The Chattanooga
Times. commenting on this matter,
"are especially strong, with strength
that is all their own. Instead of ask
ing New York money mongers to furn-
islf means to move the cotton, the
southern banks have the money on
hand-what they have not deposited
on interest in the east. Not 10 per
cent Of the money needed for moving
the cotton will be borrowed from
eastern bankers, whereas it was not
more than ten years ago when at
least so per cent was thus obtained;
some good judges say as per cent"
The south and west have enough
capital to carry on their ordinary bus
ness to do such building as is needed
and to make number Of improve
ments. OF course, more money is
needed to develop their resources and
to assure all the advance of which
they are capable is sought for. If
money is invested here, it will add
to the wealth and capital of the south
and west, and thus tend to hasten
the day when they will be completely
independent of New York in fnan-
cal way The change that has taken
place in this respect has been extra
ordinary in the last yew years, es-
pecially in the south, where short
time ago not only was capital needed
for the development OF its resourceSl
lacking but every harvest season
strained the banks to the uttermost
to market the staple crops. q
This is a highly satisfactory condi-'
ton, of the full extent of which we are
ourselves hardly aware. There was
nv appiNNidNlpi VI Nnt new puItudh-
ing power of the southern mills until.
two years ago they so boosted M the
spot" market that New York was
completely surprised This moment
um Of southern capital may hence
forth be expected to break out in
unexpected places. Notwithstanding
the rapid progress of manufacturing
and merchandising during the past
few years, IL amounts to nothing as a
whole when compared to the oppor-
tunities presented for expansion. The
more fortunate Is Il, therefore, that
right at the time when the demand
for industrial expansion comes the
farmers of the country should have
awaiting them almost 500 900 900 with
which to become partners in the work
that is to ensue. It Is for this reason
that we say that no man can tell
where the high wave is to rear its
crested head The movement from
the level is steady, persistent and ir
resistible, and we must be prepared
for surprises.