The Montgomery advertiser., 1903-10-03
SOUTHERN PROGRESS
PROSPECTS FOR LEGITIMATE
 BUSINESS BRIGHT.
Farmers of This Section Should Have a Phenomanal Outcome for the Years Work-Wall
 Streets Troubles.

Baltimore. Md. Oct. 2-(Special. )-Tak- ing the ground that the prospects are bright for the legitimate business of the country, the Manufacturers' Record says this week:
 Outside of Wall street and the opera tfons which center there, no reason can be found for any serious halt in the real legitimate business activities of the country. Wall street is engaging for the moment the interest of business men as we'll as spectators, and the country is somewhat puzzled to fathom the ex- tent of the demoralization there. To some degree this will affect general trade. but the business interests of the country as whole are on a solid basis making good profits. and never before in the history of the country has the condition of the far mers of all sections been so uniformly good as at present The aggregate value of crops of the country, it Is con3erv- atively estimated, will be much the larg- est in our history. The West has har- vested a good wheat crop. and 1t has the assurance of a corn crop which, if not quite equal to the largest ever produced. will not fall short of an average yield The South will receive for its cotton crop al least $100, ,000. 900 more than in any former year, and its corn crop will be worth $50, 900 900 or more in excess of last years crop. thus giving the farmers of the South a phenomenal outcome of the years work. These facts should be talk en into consideration in studying the pres ent slump in Wall street. It must be re- membered that, unlike former panic pe- riods. the country itself is in sound con- dition. and the farmers everywhere are in the best financial shape. with the as- surance of continued prosperity from this years crops.
 Some of the pessimism and some of the real depression is due to the labor element. which went equally as wild in it's attempt to control the country as the spectators of Wall street went in their attempt to turn water into gold. The ar bitrary and unjust demands of labor halt ed the business development, delayed building operations and made 1t tmpossi- bIe for vast building plans to be carried out. This has had marked effect upon the iron and steel interests, and until this is righted the building activity of the country will not return to normal condi- tions. As the stock market Is going through a readjustment from the wild economic debauch of the last few years, so the labor conditions of the country must be readjusted from the craze which has taken possession of the more radical element. ,-- i-... -. .-. .t
 These general conditions in the stock market. in iron and steel and in labor,
 
 CT from the pessimistic side. The coun- try Is fighting itself and will soon resume its normal conditions of business. During the last two years the iron and steel trade has been in an abnormal state. Prior to that condition the United States had for several years been a very heavy exporter of iron and steel, our shipments for one or two years having exceeded 100000 tons a year. Alabama alone having exported in one year nearly 300 900 tons of pig iron. Tn place of being an exporter we became an importer. Un- der the rush of business we hunted the world for iron and steel, bringing in last year about 100000 tons or more. During the time we were exporting iron 1t might almost have been sah that there was not an important iron bridge or a rail- road built anywhere in the world but what we set the price for the material in 1t. We were getting the worlds trade when suddenly there came a boom in our own country, and we for the time had to abandon this position. We are now getting back to a condition in which we can once more enter the worlds mar kets as an exporter of Iron and steel and finished goods.
 ''wA can not always run at the terrific