The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1906-08-21

which made an economic revolution /.
the world and enabled the wheat ieldi
OF the west 10 feed all Europe. was q
virginia origin. that the weather bu.
e system Of today Is but the out
come Of the York Of that great Virgin
ian scientist Commodore Maurv. 4.
pathfinder Of tire seas: we forget that
during the decade between 1851 ana
IEc3 thu so1tA built nearly twice a.
many miles Of railroad a. the New
England aud Middle tates combined
th@t during the sane period the value
OF property increased s. 4S0. oo0. oe1 in
he south as compared with s2.ss0.osl.-
600 IN New England and the Middle
states combined.
We rejoice IN the railroad activity
OF today and in the splendid systems
which grid!-on The south. but We for
g that there * scarcely an import
ant railroad In this section which was
not projected before 1860. II the 80 ple
OF the south will fully ~acquaiut them
selves with what the old south did they
viii gain a new view point from which
10 study the Il look for the future.
We have entered upon a period Of
>E~~1AvSA az - aAAt aAAA a
dustry such as man never saw before.
The Orient. with its TOO. Cox. ct9 or S11.-
0o0. 900 people. under the lead Of Japan.
is adopting western methods Of an In
dustrial civilization based on the rail-
road. the factory and labor saving ma
chinery. Africa. a continent whose god
mines are doubtless indicative of lis
other natural resources, is taking its
place in the new order of things and
soon may become 20 Europe what
America was for several centuries after
the settlement of Jamestown-a vast
field Of exploitation and enrichment
South America. whose resources are
as vast as its territory. is undergoing
a great development-a development.
in fact. which in some respects even
surpasses Ii rwn. Canada and MeXicO
in the rapidity Of their growth. are r.
valing the Unite! States. while nearly
all Furono Is ENJOYING an expansion IN
manufactures and commerce.
1t is. indeed. a golden era which "
have entered. for the worlds pro tuc-
ton is commensurate with this *
panSiOn of industry. Or shall | say
this expansion is commensurate with
gold production? From 1892 to 1892,
400 years. the worlds gold output was
about IS. 200. GOO. 900. Since 1892 the
total has been about So, 800. coo, 600. and
the worlds production is now at the
rate of over 1925. 600, 600 a year. with a
fair prospect Of its reaching within the
next few years $500. 600. 900. II is quite
probable that the output of the 25-year
period between 1892 and 1917 will eX-
ceed the total Of the 400 years from
1892 to 1892. During the first half OF
the nineteenth century the total pro
duction of gold was 1851. 600. 900. while
during the second half it amounted 10
Sc. 900, OOO. 900. The stimulating effect
of this huge increase of gold prOduc-
ton will doubtless be seen in an out
burst of industrial activity throughout
the world. 1t would, indeed. seem that
Europe, Asia and Africa. as we'll as
the American continent, are all at the
threshold Of a period OF advancement
in material affairs. and, necessarily, OF
a higher range of prices and OF an ad-
vance in wages such as mankind has
never Known. At such a time 1t be-
hooves the bankers of the south to
broaden their horizon, to o out on
world-affairs and to be leaders in car
rving forward the wdrld-domlnance
of this heaven-favored section, the
equal of which is not found elsewhere
on earth.