The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-11-01
.SOUTHPROSPEROUS
Cotton Mill Industry
FIourishing in North
Carolina.
AVOID SPECULATION
Mr.. Joseph G. Brown, North Car
DINA Banker, Points Out Some
Mistakes Made in Early
Stages.
Baltimore SUM-

Mr.. Joseph G.. Brown. president of
he Citizens National Bank. of Raj
eigh, N. c., has sent the follofing in
Sun in response to a request for his
views on the financial status of the
South and tho condition of it's cotton
mill industry:
ut is true. as has often been stated.
hat from one end of the South to the
other there comes the same glad cry
If prosperity that is heard in almost
every section of this country. While
here is no such vast accumulation of
money IS is to be found in the great
West. yet the financial situation of the
South is such as to give confirmation
10 the claim that the people of this
section are constantly growing in
wealth
The resources Of the banks have in
,reaSed | argely. AS illustrative of
other sections, the resources of sin
yle bank in the city of Raleigh, N. c.,
ire as large today as were the resour-
,es of all the banks little more than
J decade ago. while there are now
six other strong institutions with sub
;t2ntial foOtingS. The best evidence.
however. of financial improvement is
tound in the manner of living of the
people themselves. Within an appar-
nEtly short period there has been "A
wonderful change in this respect.
The little log huts are giving way to
;acious farmhouses, and not only
thcse dwellings, but the barns and
fences around them. are well kept.
The stock is improving: the people
ride in better vehicles and over better
roads; they are better dres they
build better schoolhouses and send
their children to them; they are build
ing new and better churches.
Cisilizing Power Of the Dollar.
In every conceivable way is seen
the civiizing power of the almighty
dollar for which the people are ex-
changing the products of their farms.
These products are more varied than
ever before aid more farmers are rails
ng their own supplies. They are thus
4 better condition to hold their crops
and take advantage of the markets
Lands tk2t we're a little while ago bar
cn-and almost worthless have largely
appreciated in "al., i.cGusc of the
marvellous crop of berries and the gem
,ral devalorment of the trucking in
tereStS. Much Of tho eastern section
of the stat. of North Carolina has
been converted into Iuxuriant gardens
supplying with vegetables the tables
If the large cities of the North The
shipment of more than $1,000 900
worth of Strawberries alone. and at
least half that amount in other small
fruits from one little railroad station
in single season is indicative of the
wonderful possibilities of a section
whose development is just begun. We
Ire not only making two blades of
grass grow where only one grew be-
fore, but we are raising valuable
money crops where before vas only Il
barren waste.
Tho rapid development of furni-
turc manufacturing has been almost
like the touch of fairy hand, adding
more than tenfold to the value of the
trees of the forest. The wealth result
ing from the application of brain and
skilled hands has not only tended to
Increase the value of farming lands
but has stimulated the growth of cities.
One of these, High Point n. c., is
today universally recognized as the
Grand Rapids of the South, and it's
manufacturing interests are growing
daily.