Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-12-18
FARMS OF THE
SOUTH LEAD
ININCOME
PERCENTAGE OF INCOME ON
CAPITAL INVESTED GREAT
Err IN SOUTH THAN IN ANY
OTHER SECTION.

CHARLOTTE. N. c.. Dec. 15.-In let
ter to a member of The Observer staff,
Mr.. George NJ. Coffin. vice president OF
the Phenix National bank, of New York
city, and ex-deputy comptroller OF the
currency, says:
Looking over a copy of the text OF
this years report of the comptroller OF
the currency 1 came across some figures
relating to values of farming lands and
farm products in the various sections Of
the United States which greatly impress
ed me as new evidence of the splendid
opportunities for profitable investment of
capital to develop the wonderful and va
ried resources of the south. 1 Immediately
tabulated the figures by sections and
worked out the percentages in the follow
ing form:
Value of lands, etc, in the farming
states in the year 1900:
Lands. improvements and buildings
southern states, $2.SS7, 900, 900; middle west
ern states. 1923 OOO, 600; western states, ST.
OF, 900 900; Pacific states, 1,13S 100000.
Implements and machinery-Southern
states, $685. 0O0. 900; middle western states,
S2S3, 000, 600: western states, $102,OOO,OOO; Pa
cific states, $5S, 1000
Live stock-Southern states, $3.50. 900 900;
middle western states, $l,13S, 600; west
ern states, $1,000, 900; Pacific states, 1885,
OO0,O0
Total investment-Southern states, So
7S4, 600 OO0 middle western states. $685.
900, 600; western states, $2,S42, 10000; Pa
cihc states, $l.SS7, 100000.
Farm products for one year-southern
states. 81, 226 900. 900; middle western states,
81 S57 900 0OO western states 1858, zoo, 900; Pa
cifc states, $274.0O0,000.
Percentage of gross annual income on
total investment-Southern states 80 per
cent; middle western states. 20 per cent;
western states, % per cent; Pacific states,
20 per cent.
you will see that in the year 1900 while
the value of farm products for one year in
the three other sections amounted to from
20 to "a per cent of the total investment
In lands. buildings. machinery, etc, and
live stock, the percentage in the southern
states was 80 per cent, or 10 per cent
greater than the largest percentage of any
other section. These figures, presume,
the comptroller got from the census Of
1900 and must be reliable. Such facts and
figures must sooner or later attract capt.
tai in vast sums to the development of
the south, for while capital is timid it Is
never blind.
My deep interest in the future welfare
and prosperity of the south induces me to
call your attention TO the figures The
comptroller used these figures to support
his plea for such changes in our currency
system as will best enable our banks to
aid the agricultural sections to dsSelop
their resources and move their huge crops
to market.
I'm this currency reform the south Is
more deeply and vitality interested than
any otaer farming section, for while it
has less banking capital per capita Of
population than any other farming Sec
ton. it must move within a very few
months its chief crop cotton, worth with
the seed, over s5OO,OOO,O 200. This means a
vast amount of actual cash or currency
and only through the agency Of the banks
can such currency be furnished when it
is needed. Let the south, therefore, join
the rest of the country in pressing for
currency reform at the present session of
congress and If they are insistent enough
their needs will be supplied"