The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-12-01
The Source of Prosperity.

Those OF our readers who took pans
10 study the report of the Secretary oi
Agriculture published in The Times DIS
patel, Of yesterday need $50 no iurther
+, 10 ascertain tho source of our pational
,rosperity 1'llc report shows that the
value of purely agricultural products lot ''
The year 1904 is nearly S51o0'eoo'ou i.x'
Guiding the farm crops fed to live stock.
the Secretary says that the farmers u
Inc limited States laue in two years p'o'
d1ce,, wealth exceeding tho output Of al
1bo gold mines Of the entire world since
Columbus discovered America. This year $
produca is over siX times the amount
\ OF the capital stock Of all national banks:
4: Ia cks but three-fourths of a billion dol
lars of liz value of The manufactures Of
1900 less the cost or material used IT IS
three times he gross earnings from tho
opera ons OF the railroads and four times
the value oflali- minerals produced IN this
country.
1t has often happened in tho past that
with 4 large yield Of agricultural pro
b duets there wos a corresponding decrease
an prices. But this year prices Of all such
products have ruled high and the farmers
have made ricl, profits on their stuff 1t
4 ia not surprising, therefore, TO learn that
lands have advanced In prico; that farm
capital has enormously increased tho Sec
rotary estimating the increase consccu-
lively at s2,oDcoo,0oo within four wears,
ana the wraJtl, Of the farmers Is further
= manifested in tic deposits IN tue banks
.ss22of typical agricultural States The Sec
rotary selects for tho latter Illustration
tho States OF Iowa, Jlansna and N1lssls-
sippi Taking all kinds Of banks ma
ronal, State private and Swings tho
Il deposits in these States increased from
June 80 1896, 10 October 81. 1D0i. in Iowa,
l64 per cent; in Kansas, PIG per cent. and
in Mississippi, sol pcr cent-in the United
States, 81 per cent. a similarly favorable
comparison may be made rs 10 the NUM-
Der Of depo5ttors.
The splendid exhibit made by the state
of Mississippi is fairly representative Of
the Soutl's share In this prosperity. The
+ = : :. - ID
cotton crop, which Is peculiar to tho
5 South, is valued this year at s80O,oN,0,o,
being in value second only to the ma
toms corn crop She, aMe Of the South's
cotton crop is about one-half tho value
s$ OF the seorn crop OF all the States in the
1inlon. This means prosperity to farm
t,,s and Incidentally It means prosperity
{ tothc merchants, manufacturers, railroads
ana lai,orcrs Of Southern States. and 1t
seems TO be conceded now that the South
is, generally sI3eaking, the most prosper
e Gus of all sections.
1t is to- BIO noted also that because
OF these sound conditions Of agriculture
and manufacture and commerce. the
stocks OF railroad and industrial corpora
lions throughout the South have greatly
enhanced In value and have added enor-
,mously to the wealth of the holders. Within
the past eighteen months Louisville and
Nashville stock has advanced from So
10 $40 per share; Atlantic Coast Lane
stock from sl05 to sl52 per share; Chesa-
l,cukc and Ohio from $50 to so per share;
II Noriolk ana western from *op 70 NO per
share; Sloss Sheffield Steel aud Iror
Company from SD TO ss2 per share; Ten.
nesFeo Coal and Iron from w to SIG per
share; Virginia. Carolina Chemical from
SIS 10 $a2 per share. and 80 on throughout
,l4s list This means that all the indus
Z tries OF The South are booming. g1ydnt
profitable employment 10 labor. and Thu
advance In the value OF lands and al
classes OF property Is 100 enormous t,
calculate.
Tile South is rich beyond the b,1ghtes
anticipation Of its people, and every da:
in the year should DO a day of thanks
giving.
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