The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-09-17
Goin6 Out Of Town?
The test of political institutions
liz the condition of the country
whose fortunes they regulate
Lord BeaconsfeId.
THE souTns IRON INpUsrRy

The Iron Trade Review of Cleye-
land, declares that in its iron develop
inent the South has not fulfilled the
expectations so sanguinely entertained
twelve or fifteen years ago. IT points
out that in 1890 Alabama made 50 perl
cent. of the production of iron, while
in the first half of 1907 the State made
only ga per cent of the total produc-
ton; and that the five States of Vir-
ginia. Georgia, Tennessee, Alabama and
Texas In 1890 made 1874 per cent of the
country's pig iron. while in the first
half of 1907 they made but 10 per
cent. The production in these States
doubled in seventeen years, but the pro-
duction of the country at large, during
the same period, trebled.
The Financial Chronicle, of New
York. makes this statement the text
for a lengthy article on the Industrial
and financial situation in the South,
and expresses the belief that the South
has not enjoyed that rapid expansion
In iron-mnking TO which she was en-
titled, because at has been found inn
possible To induce capital to venture
into that part of the country wit lie
same degree of freedom as in the
North And why has it been difficult
to secure money for the South" asks
the Chronicle, in face of her super
abundant and ineXhaustible resources 2"
Answering its own question, it saws
that the course of her legislation has
created a feeling of distrust which has
made Investors and capitalists afraid to
lock up money to any very great extent
IN enterprises In that partslf the coup-
try. There has been during all this
time a fear lest Investments be denied
that fair and considerable treatment
winch a'onetwiil secure the flow OF
capital unfmpeded in any given dlrec.
ton.
There is certainly no ground for such
apprehension in Virginia Ingest-
ments and property rights are as safe
and as we'll safeguarded in this State,
both by law and sentiment. as in any
State in the Union. Our organic law
Is as nearly perfect as human inge-
nuity could devise our law-makers
are conservative and our courts arc
honest and incorruptible. We believe
this to be true of other Southern
States, and we venture that every bIt
of hostile legislation" In Alabama can
be matched, II not overmatched, in New
York. True, there are demagogues in
ha
tions, and by their harangues they
have made 1t appear that tho South is
Shostile to capital" But they do not
represent the character and sentiment
OF the Southern people, and there is al
ready reactionary movement against
them, notably In North Carolina.
The truth of the matter is, Is the
Iron Trade Review has stated that
the South has seemed to lag in the pro-
duction of iron because of the :a)il
development of the Mesaba range. nea,
Lake Superior. The Seuth's ADVANTAGE
lies in the fact that her raw materials
Iron. coal and lInc--are to be found
Ia the same territory In proximity tc
each other and also favorable fregh
rates. but In spite of these advantages
the use of the Mesaba range, ii
the Lake Superior region, gave a grea
impetus to the manufactu. of steel Ii
the North.
We are informed, however, that tn,
open-hearth process Will add to tn,
advantages of the south. md barrin;
any general setback in the iron trade