The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-07-31
WEALTH OF
THE SOUTH.
Interesting Figures Compiled
Showing its Growth.
HOW 1T is AFFECTED
HOW 1T is AFFECTED
The Price of Cotton Seems to Have a
4 Great Deal to Do With the Material
Growth Of Prosperity-lron
Now Enters Also.
Especial to The TimeszDispatch.)

Especial to The Times-Dspatch.)
BALTIMORE, July 3o-In this weeks
Issue the Manufacturers Record pre-
sents figures of assessed valuation Of
property for each of the Southern States
in 1860, 1880, 1890. 1900 and 1902, as the
basis for an estimate that the c'mplete
figures of the census of 1900 will show
the South possessed In that year more
than s14. O0.00O,0OO worth of property of
all kinds. only about s2,ooo0o0. 900 less than
that possessed by the whole county In
1860. These preliminary figures, obtained
from official sources, enable one, to trace
the growth of material wealth il: the
South during the past twenty years. The
Manufacturers Record says:
"Thees figures show an increase be-
tween 1850 and 1880 In assessed valuation
averaging s26,000,O00 a year, the actual
increase, 'of course. having been largely
made with the tightening OF the con-
struction burden. Between 1880 and 1890
the assessed valuation increased from
&,O5l175,00s to s4,659, 514 1888, or sl.t0S33''.-
725. an average of $l60.oOO.C00 year.
In the next ten years the increase was
to S, 457 ,553, 0H or but s79S,o3S.lDS. an
average of less than $S0,00oO0o year.
But during the next two years. between
1000 and 1902, there was an advance 10
S,,9l6,9GO.712, or s450. 4O7,8S1, mora than
half the advance between 1890 and 1900
The total advance between 1880 and 1862
was so,s65, 7s5,614 or nearly "a per cent.
TRUE VALUATION.
Material betterment of the South thus
indicated is more clearly shown In COM
the South with that OF property In the
rest Of the country. The Increase In true
valuation between 1850 and 1880 was from
s62S6 214.1OS to $685. 900, 600 or S12ls,7 S92.
puua1 Onlv 10 cent. in tho South.
from Moe e. Sc tsa' TO @ sa 3S or @
2js5ss,o4o equal to 266 per gent During I'M;
pansion. in. the south, the rates OF in.
crease In the South and In the rest OF
tween 1880 and 1890 the true valuation
increased from $7,6o5. 100000 to, sn, 150,5a2,-
ri.y the Increase was from 500, 1877 .60O, 0c0 to
@SSs6,55s,S93. equal to $l7749, 1893. or 40
per cent.
between 1890 and 1900 as between 1850 and
South Sou the for FuS Sa woad be s' Rs3ss % If
the aG5na Was 81 he esme the
the same proportion of assessed valuation
to true valuation obtained IL 1900 rs In
1890 the true valuation for 1900 would be
values. $3,05l .63l ,6S2. of capital In manu-
featuring, ST i5a COZ a6s. of railroads, s2.734,-
$4,000 was s7SS9,522 That sum is SO
per cent. greater than, the sum of the,
values of those three leading classes OF
property In 1890, If that percentage OBJ
tanned 70 rthe increase In the value of all
the property of the South during the ten
years the true valuation for 1900 would be
go 80 PRICE OF COTTON.
'An interesting sidellght, partly coincl-
dent, partly explanatory upon the Import
anco of cotton In Southern economy APP
pears In consideration of the range OF
cotton prices at New York in connection
with the changes In assessed valuations
of property, In the South, Between 1850
and 1890, when the price of cotton aver
aged mare than ton cents pound, falling
below That price IN one year only, the AS
increased more than 60SOlO,o0o or IN
an average of more than s16OC0).O 900 a
year. In 1891 there was sudden declp
in the price of cotton and It continued TO
fall until the average price was only six
cents In 1855 go Between 1890 and 1900 the
assessed valuation increased something
more than S79S, 00O, 600 or less than an aver
age of 600 a year. In 1900 there was
q fair advance In the price of cotton
which has since been increased and be-
tween 1900 and 1909 assessed valuation In
the South has increased about $460, 0O0, OG0
or an average of s2So,O00,00O n year"
Another contributor to Southern wealth
is iron, Comparing the production OF Mig
iron In the South for the first half of 1902
and 1903 an increase OF 100000 tons Is
shown, more than one-fourth OF the total
Increase In the United States.