The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1904-02-20
FARMER AND PLANTER.
THE SUNNY SOUTH.
A Prolific Field For Those Seeking
Safe Investments in Agricul-
tural Pursuits.


To all those seeking safe investments
and liberal returns, and to all others
interested in the development of this
country, we present facts and statistics
of the growth of the south. The story
told is one of the most interesting in
history, and the situation shown is one
of the most brilliantly promising before
the world.
1t must be borne in mind that within
a brief period the south was bankrupt
and PROSTATE Slowly but steadily she
has regained her credit. Her banking
institutions have grown and prospered,
and to-day her financial status is unex-
celled. Instead of few disjointed and
poorly-equipped railroads, We have sew
eral great trunk lines, constructed, bal
lasted and equipped according to most
modern methods and standards, pene-
trating every section of the south. Old
mines are being vigorously developed
according to new methods, and new
ones opened up, and both are pouring
out coal and iron.
The cotton crop has reached an ex-
tent and value undreamed of few
years ago, and cotton manufacturing
has developed into an immense BUSH
ness, with almost unlimited prospects
of expansion. These are the facts, and
the following figures are presented to
prove them.
E><~v- ~ ho ,.nfA rto1 vxrhi a
have embraced in this bulletin, we are
indebted to Mr.. Richard H. Edmonds, Of
the Manufacturers Record, who has ex-
erted a powerful influence in the devel-
opment of the south.
The development of the cotton mill
more rapid than that Of iron and coal.
In 1880 the south had invested in
cotton mills 100000 (667,0O spin
dles): in 1890, $60,000,000 (1,700, 900
spindles); in 1900, $112,000,0 900, and at
the present time, $175, 0OO, 900 to $780,
0O0.0 900 (about S,OOO,OOO spindles).
The relative growth of this industry
in the south as compared with New En-
gland, is shown in the fact that in 1892
the consumption of cotton in northern
mills was 100000 bales, and in south
ems mills, $4,000 bales, while for the
crop year of 1903 the soncumption Of
northern mills was 1867, and bales, and
in southern mills 2,050. 900. Thus. while
the consumption of cotton was prac-
tically stationary in the country out
side of the south, it has more than
trebled in the last ten years in the
south.
Connected with the development Of
cotton has been the increase in the
manufacture of cotton seed oil and kim
dred products. In 1880 there were 40
cotton seed oil mills in the south, with
a capital of So, 500, 900; to-day there are
about 700 cotton seed oil mills, with q
capital of over $50, 000, 900, and an an
nual product Of over $125, 100000.
Prior to 1891 cotton had always, with
the exception of brief period between
1S41-46, sold for an average of over
ten cents pound, except one year,
when the average for the year was
fraction less; but in 1891 there came q
very great decline in price, which ran
until 1S98-'99, eliminating with an av-
erage New York price for the entire
year of 1878 of six cents a pound,
1t Is doubtful whether the south made
any money from the production Of cot
ton. Its farmers we're passing through
the same conditions which the west had
to face some years ago, when wheat
and corn were SO abnormally low that
1t was more profitable to burn corn as
fuel than to ship it to the east. But
for the activity in industrial develop
ment then underway, the south would
have shown very great depression. Az
a matter Of fact, its progress was ma
terially halted, as illustrated in the as
sessed value of property, which, during
the ten years, from 1890 to 1900, in
creased only $798,038,198, against ST.
60S,339,73 for ten years from 1880 to
1890. With 1899 there came a slight
increase in the price of cotton, and this
has gradually continued, until the
present year, when prices are back to
the conditions which prevailed prior to
the decline of 1891. The influence of
this is already seen in the fact that
during the two years following 1900
the increase in the assessed value of
property in the south was $459, 407, 681,
an average of $229, O00, 900 a year,
against $79S,000,0 900 for the ten years
ending with 1900, an average of $79,-
0O0,0 900 year. The influence which the
higher price of cotton will have upon
the prosperity of the south is shown in
the following figures, comparing the
production value of the cotton crop of
the last FIVE years with the preceding
five years, putting the value of seed at
$o0, 000, 900 each year, fair average:
Total Crop&l Total Value Of Crop
Years. Bales. Including Seed
1885 1,157,346 342 234, 49,
1S96-97 S757 964 III Eat ga