The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1906-03-20
SOUTH'S REMARKABLE EARNING
CAPACITY.

below we dH SulOOTlai
from The Tradesman, of Chattanooga
on The South's Remarkable Earning
Capacity" In considering the facts
and figures given it must be borne in
mind that most of them are taken from
the reports of the census Of six years
ago and hat since that time greater
advancement has been made in the
south in the classes of industry men,
toned than in any previous six years
Of her existence. 1t is shown that the
profits of the farms of the south
amount to twenty per cent on the in
vestment in lands, live stock and farm
ing implements. The south's profits
on its investments in all industries
equal twenty per cent of the value of
all her property and nearly six per
cent on the wealth of the entire
try. If the figures for the present time
could be secured a much better shov-
ing would be made. The Tradesman
says:
1t has been SO attractive to note and
chronicle the great strides the south is
making in manufacturing and indus
trial development, hat these have in
some degree ove~rshadowed it's other
sources of productive wealth, and
which really constitute the basis of its
permanent progress and prosperity.
The south was formerly an agricuI
tural and commercial section. and
from these sources acquired great
wealth with a high degree of civiliza-
ton in consequence, SO that it would
be a very grave mistake if h did not
still place these in their proper sphere
Of usefulness and value in all estimates
that might be made of the resources
of the south.
1t has become a rule to measure
values by the earning power of the in
vestments on which they are based,
and considered by this the
farm property Of the south is the most
valuable of all it's assets. as the follow
ing statement Of it's values and earn
ings will clearly demonstrate:
According to the ems Of 1900
there were 3~55.791,559 acres in farms
in the southern states. of which there
were only 121.831.797 acres improved,
or "a per cent of the whole.
The value Of the entire acreage, i'm
proved and u~nimproved, including
buildings and all improvements, was
placed al $3,05S,133.129. and yet the
fraction of the whole that was improv-
ed produced last veal $500, 900, 900,
which showed an arnin apaclt OF
nearly so per cent. on the total acre
age, including the Sc per e that
was idle or unimproved.
This is the clearest demonstration
that can be given of the value of in
vestments in southern farm property.
Even with all that has been or that
can be said regarding farm labor in
the south. no other portion of this con-
tinent can show such earning capacity
from it's. farm lands.
1t is further remarked that these
lands only carry an average
on both improved and unimproved Of
about $3.50 an acre. Instances can be
given where industrious tenants have
cleared enough on one years crop to
make a substantial payment On a farm
of their own, and pay for that farm
outright on the proceeds of the second
years labor.
But by adding the value of farming
implements and live stock to the value
Of the farms. the earnings last year
still show 20 per cent. returns on the
total investment.
h is only a fractional part. how
ever. of those sources from which the
1lNOlliS VI LIZ u 10 oANA va
which an estimate of its earning ca
pacity can be justly given. The profits
on banking, merchandise transactions,
dividends from stocks and bonds. re-
ceipts from transportation lines. wa
ter, gas and electric systems and other
purely commercial sources were no less
than $4,000, 0OO, 900, while receipts
from miscellaneous sources, sue as
sales Of lumber. timber land, live stock,
minerals etc were fullv &. 600. OOO.-
900.
To the above we can add the returns
from manufactured products of ST.
500, 900, 600. which gives the following
grand m
From agricultural 81, 500, 600, 600
From Commercial ...i.. 2,0OO,OOO,0O
From Miscellaneous -. 1000, 600, 900
From manufacturing 80. 100000 600
Grand total . . .....s6,000,0 5000 O0
Now this is nearly 6 per cent. on
the wealth of the entire nation, which
is $4,000 900, 600. The south possess
ses of his the sum of $500 600, 900,
from which it will be seen that the
actual earnings of the south last year
was 20 per cent. of it's total worth.
These are not e~Xtravagant estimates.
but in the main are official figures and
are under rather than over the real
earnings of the south last year. Some
of the estimates are based on census
figures of six years ago. hen it Is
known that this period has been the
most prosperous that the south has
ever experienced. These figures tell
their own story and need no embell-
ishment at our hands.
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Greensboro had better look out or