The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-01-27
GREAT GROWTH
Of BUSINESS
In the Last Decade Freights
Have Increased III Per
Centum.
In the Last Decade Freights
TRANSPORTATION INADEQUATE
From Our Regular Correspondent

GFrom Our Regular Correspondent,
/; WASHINGTON. D. c., January o.
President w. w. Finley. of the Southern
Railway, has received from r. Fl. Ed
monds, of Baltimore, editor of the Manu-
facturers' Record. a most striking letter,
suggested by the one given out about a
week ago by Mr.. Finley concerning the
railway affairs of the country. Incl
dentally. Mr.. Edmonds portrays in graph
lie terms the wonderful development Of
the South and the entire country In the
course of the past six years.
He declares that the present railroad
situation, the inability of the roads to
furnish transportation for the freight OF
fered. Is of more Importance to the
country than the roads.
Mr.. Edmonds makes the astonishing
statement that the railroad freight of the
country increased from SS5OO,OOO, 600 tons
in 1895 to 1890 100000 tons In 1906. The
usual rate of gain has been twenty-five
per cent. The gain in the decade ending
with 1905 was III per cent.
Need Better Facilities.
business has far outgrown the trans
portation facilities of the country says
Mr.. Edmonds. s"Withot warning the
world suddenly leaped into business ac-
tiyity greater than had ever been seen in
human history. In seven years, from
1900 to 1906, the value of farm property
in the United States rose from $50, 400, COO :
coo to SIS, 600 coo, 600, gain of $500 600 Co.,
This gain Is nearly ten times as great as
the aggregate capital of all tho national
banks In the United States. IT Is more
than one-half as much as the total in
vestment in manufactures in the country
The value of our farm products increased
from A,T17,000,00O in 1899 to $5,917, 900 900
in 1903, and in the past three years was
as follows:
1891 ......,......... Sc 159 10000
1905 ................ 6415.0O 600
1906 ............ 6,I9i,0QO, 900
Look at the situation in the South.
In these seven years the commercial
value of the cotton crop, not Including
seed has aggregated $3,6S6,GlD against
s2,1O7, 600 900 for the preceding. seven years.
Here is gain of $1,57s.Ooo0p0. Advance
In diversified development is Illustrated
in the fact that the Souths corn crop
of 1906 was 720,0000O0 bushels, against
476,OCO,OO0 bushels in 1900, and the value
Of farm products in the South was $1,000
100000 in 1906, against $1,g72000,Oo0 In 1900.
Ii; the same time the assessed value or
with $756,60o,OOO for the preceding ten
years. In the past seven years the
South's coal production has risen from
100000 tons to &',0o0OW tons.
Immense Iron Production.
"rurn to the country ut large, and we
see that pig-iron production has grown
from 13,7S9,ooO tons In 1900 to about 21,-
100000 tons In 1906. We nearly doubled
our iron production In that time, while
heretofore it has generally taken ten
years to double our iron output, In 1900
our coal mines Yielded gO,oO0oo tons:
last year we mined about 425,oooooo tons,
Portland cement grew from S0O0,000 bar
rels in 1900 to 4o,0o0,oOO barrels in 1906.
Seven years ago any thoughtful man
could have foreseen something OF this
wonderful growth, but IT was hardly
within human power to realize In adj
vance the magnitude of, what we are
now doing.
"Under, these conditions II is hardly
wa fC,ontlnuea on Second Paual