The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1904-01-03
SOUTH is PROSPEROUS
AND IS SAVING MONEY
Bank Deposits Are Growing
and Farmers Happy.
Cash TO BE KEPT AT HOME
Northern Financial Troubles Will Not
Embarrass the Cotton Growing Sec
tion-Valuatle Lessons Learned.

FORT WORTH. Tex. Jan. An the
financial and industrial trouble in the
East cannot obscure the fact that the
south ard Southwest end 1868 and enter
on l9Oi in excellent condition al crops
have turned out well. Wheat. oats,
ana such forage crops as sorghum, hay
milo, maize; and Kaffir corn have given
d Dig yield. Corn has made a good aver
age crop; live stock has done well in all
respects; and prices have teen highly
reinunerative to the producer.
The Cotton Crop.
But 1t is cotton, the great staple money
crop of the South, which has most to do
with the years results. Disregarding
public estimates, the crop viii event
ually show up as well as last years
"hlch, again, Will mean 80 or 40 per cent
more In actual money returns, on ac-
count of the higher price
Eighty per cent OF the cotton is now
gathered and marketed. and conse-
qGently the banks down in this section
are full of money, deposited by the
farmers. 1t is not uncommon to find
banks In little towns of 1900 to 5000
population. all over the State. with de-
posits OF from 10000 to 5000. oOo. mostly
they generally are, and as this new
wealth is, this is a most favorable show
ing.
Other Products.
But cotton is not the whole story
The successful harvesting of other crons
means that the live stock raisers have
not only had chance to make money.
but to keep IL. because, with plenty Of
feed on hand. the farmers will not have
10 draw on the proceeds o. their leash
crop, cotton, TO send money out of the
section to buy corn and hay. When
feeding crops are short a good deal Of
the cotton money has TO go TO buy such
tcdder from the North
In 1900, when the South had good crons
and good prices, the farmers spent their
money in many cases with real extrava-
Sahce, ana many have suffered from il
since, as 1901 and 1902 were both hard
years. This former experience seems
u nave taught them something.
The Boil Weevil.
In the last three years. too, the boil
Weevn has spread over a larger terri
tory, and the average cotton grower Is
so much afraid of this little insect. and
so apprehensive that he may do worse
things in coming season, that the
man on the farm in this section has
stopped TO think. and has then held
| clo~es@ 20 what he has made this year
Perhaps this tendency to save has had
a temporary effect on business: an anv
rate, merchants are complaining that
their fall trade has not been up 10 whar
they expected, or what conditions would
justify.
The facts are the money is here. and
plenty Of ii. and this, together with
people simplifying their wants and
aVoldlns unnecessary expenditures. GER
tainly means that things are in sound
and impregnabie condition.
Possible Trade Reaction.
There is nothing in conditions down
here TO justify fear OF hard times. 1t
is perfectly well known tha1 in the in
dustrial centeTs of the North and East
people have for some years past been on
financial debauch. If this must be
paid for by period OF depression-the
inevitable penalty Of a debauch-the
South and Southwest will doubtless
have to contribute their pro rata share
in the reckoning. 1t will in any case be
rather a reflex or sympa thetic trouble
than an original sin. n the North's adj
Fanced stage Of industrial civilization
where problems are more numerous and
complex, there are Always more ccmpu-
cations 20 arise in cas-. of q financial
conditions and so many different INDUS
tries are interdependent on each otner.
al turning out products that depend on
prosperity 10 Keep up demand and BOZ
stcr each other up. that trouble in one
/ trade causes trouble in another.
/ Newer Civilization.
! In the South and Southwest we have
a rawer and cruder civilization. We are
/ closer to nature. as 1t were. and our
prosperity depends mainly on climatic
conditions The South produces only I'M
/ finished products ana necessaries, such
as foodstuffs, cotton, and cheaper goods
that must be consumed by a class of
people VINO use them as necessaries and
who cannot dispense with them, whether
times arc good or bad But aside from
/ this, the South is in better shape today
than ever before TO go through period
of depression. Individuals, banks, and
merchants are not suffering from the
: speculative fever that has demoraliZed
certain portions of the country and
given them the financial indige stion of
the period.