The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-09-04
New England is Facing a
Crisis.
CONTINUED from Page Nine.)

20 per cent. less than the aggregate
capital of all of the national banks
of America, and is nearly the same as
the market value of the Standard Oil
Company, whose operations cover the
world. With this $600,000,000 wiped
out, or moved to the South, would we
not indeed see the industrial decline
of New England?
But New England can save itself
We are not accustomed to give up
or to sit supinely down and bemoar
fate. We can bid the South God speed
i'm it's development if we will take care
of our own, for there is room enough
for both sections without the one
prospecting on the ruins of the other
If our people. our bankers, and every
man interested in the prosperity OF
New England will awaken to our dan
ger we can take on a new lease of life.
We must be prepared to re-equip with
modern machinery every mill that il
not up to date. We must send to the
scrap heap every engine or boiler or
both that is not producing the high
est possible results: we must. if neces-
Sary. forego dividends for a while, or
invest new capital in the re-equipment
of our mills, and thus stop the south
ward trend cotton manufacturing
capital, and at the same time provide
ting cotton from the South to the
mills.
us New England equal to the emer.
gency, and. will it save itself from such
overwhelming loss as will come about
I it should not prove equal to its dan.
ger and its opportunity"
Colonel Cameron is enthusiast
about the approaching Cotton Growers
Convention at st. Louis, and believes
no I1n ,rir Ioy, .
benefit to the cotton farmers of the
South. He has written to Judge
Parker requesting him to time his
visit to st. Louis SO as to be there
September 27th, the time when the
Southern Cotton Growers Association,
the National Farmers Congress. and
the National Bar Association will be
in session.
State Senator Charles A. Webb. OF
Buncombe, was in the city today. He
went over to Connecticut this after.
noon where his wife and children are
visiting. He will return next week
He says that the political situation in
the Tenth district is favorable to the
Democrats.
Mr. N. G. Broughton spent today
in New York. returning from Buffalo.
where he attended a great Interna-
tional Sunday School Conference. 1t
was q notable occasion.
Gentlemen present said Mr..
Broughton made 1.-The speech of the
Conference The speech, which de-
tended the South in its kindly and
Just attitude toward the negro made
fine impression.
1t looks like there will be distin-
suished gathering of editors here next
week. The banquet at the Waldorf
Astoria will be the largest ever given
n that famous hotel The trip to
EsopuS Will cary more editors Jan
were ever before borne on the waters
on the beautiful Hudson. The ele-
CANT steamer, the Shinnacock, that
will carry 100 people. has been en-
gagged. An elegant luncheon will be
served on tho steamer When the
company reaches Esopus. a brief ad-
1ress of congratulation vii! be made
by Hon. Chas. w. Knapp. editor of the
st. Louis Republic, and Judge Parker
will mako brief response. Then the
National ommitteeman from each
State will introduce the editors from
his State to Judge Parker. The party
will remain at EsoDus from l D. m.
10 .. M, and will return to New
York that night. l hope to see a
good delegation here from North
Carolina. ]. ID.