The Montgomery advertiser., 1906-05-27

steady. It has grown with increased momentum each year. until today the Southern States stand almost abreast with their sister States In the galaxy of the Union in the maintenance of public and private credit and industrial and commercial progress.
 would love again to meet the people of the South in the great centers of in dustry aad trade as I often met them when the struggle seemed almost a hopeless one to recover the desolation of war and the recklessly profiigate governments which succeeded it, but 1t is not likely that I shall again have the pleasure of meeting them face to face to witness the prosperity they en- joy and share their more generous hos pitality. I we'll remember at times my appeals to the Southern people were not always welcome, but their personal welcome and hospitality were ever un- abated. It was only natural that se- verely impoverished people should grasp at the fatal financial theories which seemed to promise them relief, and I moro than once addressed vast audiences Of your people in earnest ap- peals for the scrupulous maintenance of public and private credit. and the teaching was forgiven in respect for the teacher. Had the Southern people taken the DOAQ kLhuo LoA tiiS A"AtAA@ VI maintenance of public and private credit fifteen years ago, 1t would have called millions of Northern and foreign capital to hasten the development of the South That opportunity was lost, but the peril has passed away, and to- day there is absolute confidence in the credit of the Southern States and the Southern people. That Is the broad foundation of substantial and enduring prosperity.
 we are now living in a 1oodtide of conflicting currents reaching into all speculative channels and the tempta- ton is great on the one hand to be en- gulfed in speculative schemes and on the other hand, fall into the slinny em- brace of socialism, that is simply the vestibule of anarchy, You have hum dreds of thousands of brave, earnest and energetic young men who are to natural tendency will be to make hasty escape from the exactiops of pow erty to the delusive promises of speedy wealth. Let them avoid both, as they would avoid the pestilenee, for only by legitimate industrial and commercial progress can substantial wealth be oo- tained. sa ,s+
 write thus frankly to yon, my old friend. because I know of no one man in the South who has done so much to bring the best influences and best offices to restore the South to some measure of prosperity. I saw and felt the fruits of your eoffrts In every part of the Southern States during my many visits there. and there is no one in the South today. even with all the eminent men who fill your State offices and rep resent your States in the National Con- rress, who begun so early, labored so tirelessly and inspired movements so intelligentIy in every section of the South, as yourself
 Many years ago, after careful inves- tigation of the South. publicly and earnestly advised that the tide of i'm migration that was then turning to the setting sun beyond the Father of Wa ters should be changed to the South ern states, because of the very much better advantages there offered to those who wished to engage in any industrial pursuit The farm lands of the South, then in the market, and doubtless still to a large etxent opened to immigrants with means and industry, were then vastly preferable to the entirely unim- proved lands of the far West. Your