The Montgomery advertiser., 1904-08-19
THE COTTON CROP.
And the Part Southern Banks Will
 Take in Handling H.

Special to The Advertiser.
 New Orleans. Aug. 1S.-With a 12,- 900, 900 bale cotton crop seemingly as sured, the South Is very naturally deep ly interested in the successful solution of the several important problems the production of such a huge and valua- ble crop presents and the effect it will have on the material affairs of the South in general. Ten cent cotton Is also practically assured, and the movement of such a crop will imme- diately bring into requirement a sum of money exceeding by many millions Of dollars the requirements of any previous crop year since the growing of cotton has been a Southern indus try. The bankers must furnish this money, and 1t will run we'll into the hundreds of millions. Interviewed on this subject. President Cannon of the Hlbernian Bank and Trust Company of New Orleans said:
 The financial and industrial pro- gress of the South has been nothing short of marvellous during the past de- cade. and the entire business world IS talking about us and realizes the ex- tent of our progress far better than most of us do who have heard the story so often and in so many differ ent ways that we have come to regard the good we have gained in the ab- stracttrather than in the concrete. Ten years ago New York loaned us the money with which tc move our cotton crop, for we did not have money enough to do 1t. That was when the crops were smaller and the value per pound less. This season the banks of the South are strong enough and ready to move the biggest cotton crop on record and worth, possibly, $200, ,000,- . 900 more than any previous crop. This IS put one concrete evidence of what the South has accomplished. Ten years ago there were fourteen hundred and eighty-one banks of all kinds in the cotton growing States. Today there than and forty The combined resources of these banks has increased several fold With the Southern banks moving the cotton crop with their own re- transactions remains in the South and does not go to the North, IS was the case under the old order of things. Thus profit and resource in the South have become cumulative and are grow ing every day. The increasing bank deposits prove this.
 "In a thousand ways will the South be benefited more than usual through crop means heavy railroad traffic. in creasing railroad revenues, and sweep ing railroad improvements which give employment to armies of men and bus mess to our iron and coal and timbnr industries.
 "A high priced crop means general prosperity, with its attendant increased passenger travel, q boom in new i'm dustries. better homes. better clothing. better food and better business in iii branches with increased bank depos- it's.
 Thus the South. for the first time since the war, will enjoy the double benefits of a record breaking cotton crop and high priced cotton at one and the same time. ande the result cannot fail to be a marvellous stride toward financial and industrial supremacy For several years the South has stead fly shown gains along all business lines. while other sections of the coun- try have done well in staving of re- sessions. And the resources of the South are just beginning to be devel- oped. Our progress has been remark able. but the next few years will wit ness an even more remarkable pro- l-~aAss than has the paRt few xearaA"