Pine Bluff daily graphic., 1904-08-22
WILL NEED NO AID
SOUTH WILL MOVE COTTON
CROP WITHOUT HELP OF
EASTERN MONEY.
New Orleans Banker Believes the
3,04o Southern Banks Are Equa,
to the Requirements.
BIG CROP WITH GOOD PRICES

New Orleans, Aug. 22.-With a
: 100000 bale cotton crop practically
, assured the south is very naturally
. deeply interested in the successful So
luton of the several important prob
lens the production of such a huge
a'.d valuable 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 crop vii!
Immediately bring into requirement
sum of money exceeding by macy
millions Of dollars the requirements
Of any previous crop year since the
s''GWin@ Of cotton has been q south
ern industry. The bankers NUT fur
nish this money, and il viii run we'll
into jhe hundreds of millions. In
tcrSieWed on this subject President
Cannon. Of the Hihernian Bank and
Trust COMPANY Of New Orleans said:
The financial ard iedllstrial prog
it'SS W Tie SttitI liG@ pEf'f $lGt Hli12
short Of marvellous during the past
decade and the entire business world
IS talking about rs and realize the
cNtnnt OF cur progress far better than
most of ns do who have heard the
story SO often and in so mary differ
ent wavs that We have come to re-
card the good we have gained in the
abstract rather than II the concrete.
Ten years ago New York loaned rs
the money with which 10 move our
cotton crop, for we did not have
money enough to do it. 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 big
+ Gest cotton crop on record and worth,
/ possibly. 5000. 100000 more than any
previous crop This is but one con.
crete evidence of what the south has
accomplished. Ten years ago the.
We're 4S1 hanks of all kinds in the
cotton growing states. Today there
are more than 3,O4O. The combined
resources or these banks has increas-
ed several fold
with the southern banks l:loving
the cotton crop with their own re-
sources, the profit Oh these financial
/ ropooiOc in tho cnnit Il
GCes not go to the north. as was the
ease under the old order of Times
Thus, profit and resources in the
south have become cumulative and
are growing every day The increas-
! ing bank deposits prove this
"In a thousand ways will the south
| be benefited more than usual through
his seasoi S cotton crop. A heavy
crop means heavy. railroad traffic.
Increasing railroad revenues and
sweeping railroad improvements
which give employment to armies of
and timber industries.
.'A high-rrced crop means general
prosperity, with its attendant In
creased passenger travel, a boom ia
new industries, better homes, better
clothing, better food and better bust
ness 10 all branches with increased
bank deposits.
''Fhns the south, for the first time
since the war, will enjoy the double
benefits of a record breaking co.to.i
crop and high-priced cotton at one
and the same time, and the result
cannot fail to be marvellous stride
toward financial and industrial su-
premacy. For several years the south
has steadily shown gains along all
business lines. while other sections
of the country have done we'll in
!, staving off recessions.. And the re.
sources of the south are just begin
: hing to be developed. Our progress
, | has been remarkable, but the next
" years will witness an even mo, e
{ ~r,,ar',able progress than has the past
I -