The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1908-09-20
Has Been Cause of Prosper
ity and Growth of the
Entire State.
IF THE NAVAL STORES MARKET
ING co. is SUCCESSFULLY Or
CANNED AND FLoURISHEs
PROSPERITY WILL AGAIN BE
FELT IN EVERY SECTION.

the Jacksonville Board of Trade In the
effort to organize the Naval Stores
Marketing Co, is the following on the
prosperity of Florida before the mar
ket was manipulated and depression
ensued.
Among the causes which have con-
tributed to the remarkable growth Of
the city of Jacksonville and the state
of Florida IN the last few years, none
has been so potent as the naval stores
industry. In less than ten years this
business has grown with astonishing
rapidity and vigor from almost moth
ing to a position of paramount and
commanding Importance. Extending
into almost every county in Florida,
every section and every kind of bush
ness has felt its progressive and slim
uIating influence 1t has increased
the volume of business and attracted
millions of new capital and thousands
of new citizens. Foreign and domes-
tic commerce has been marvelously
increased. New communities have
been established, and old ones have
grown and prospered. Banks, whole
sale and retail merchants and all
classes of business have felt the ef-
fectS of the wealth and capital which
has been invested in the manufacture
and production of naval stores. The
most entirely to the development of
the business and resources of Florida
Unlike the lumber and phosphate busi-
ness, the naval stores industry Is not
only as widespread as the limits OF
the state, but its profits are mainly
consumed and invested within the
state. In the development of this in
dustry, lands which were of no appre
ciable value command prices which
were once not even hoped for. The
increase in values has not been con-
fined to timber lands Its direct re-
suit has been reflected in the rise in
value of farm and city real estate. The
assessed valuations of lands and per-
Sonal property in Florida during the
past ten years show an astonishing
increase. Property that for years
has been held by the state for unpaid
| taxes has been redeemed and made
productive Jacksonville, Fernandina,
Tampa and Pensacola have responded
/ to this impulse. Wholesale and job
/ bling houses in these cities have
grown in number aud increased in
capital There is not = wholesale bust
ness house in Florida which is not in
a measure dependent upon this indus
| try for its present success and future
prosperity
The growth and effect of the naval
stores industry has not been confined
to Florida. Throughout the pine belt
and particularly in the gulf states, the
same influences have been at work
| As in Florida, the business of the gulf
states has received a large measure or
support from the manufacture, sale
and transportation of turpentine and
rOsin. The gulf ports of Alabama
{ Mississippi and Louisiana have enjoy
ed an extensive foreign commerce
and active jObbing business as the re-
suit of the development of this indus
/ try. Rail and water transportation
/ lines of all the southern states have
been directly benefited. The carriage
of naval stores from interior points
! to the seapOrts. and return of supplies
Of all kinds, has furnished great and
/ steady income to our railroads. The
| COaStWise transportation of products
of this business has been a large
source of revenue to our steamship
/ lines. The general public receives an
1 indirect benefit from this in the abil-
/ ity of the carriers to maintain better
and cheaper service
Depression Followed Prosperity
| The prosperity which has marked
| the naval stores industry for a num-
| Der Of years has within the past year
! been succeeded by the depressing eff
Z
! Spirits of JuTpentine is now being
sold at prices lower than any which
have been touched for seven or eight
years. The prices of naval stores
/ have dropped by steady movement
! for several months past. the regular
! ity and precision of which indicates
"a manipulated market. Within a year
/ the prices of naval stores have fallen
I TO nearly One-half of the ruling prices
/ in 1907 To the state of Florida alone
the difference between fair prices and
those which the producer is now COM
/ PEELED 70 accept for his product would
! mean not less than four or FIVE mil
/ lion dollars year in the aggregate.
! The conditions which govern the in
dustry render il peculiarly omen to the
manipulauons of hostile spectators.
; The history of the business shows
that il has been comparatively easy
for persons and corporations possess
ing extensive wealth 10 command and
control the market OF this product and
arbitrarily 70 fix the prices which pro-
ducers shall obtain for their products
Although the supply of timber is limit
ed and constantly decreasing, and al
though the demand for this product is
annually increasing, the price of naval
stores has steadily declined All the
conditions surrounding the present
marker point TO the conclusion that
the existing prices are not the result
Of the law Of supply and demand, bu,
are the effect Of speculative manipula-
ton in the interest of the exporters,
and are designed TO deprive the pro-
Queer OF even a modest profit
The effect Of these arbitrary prices
is not confined TO Florida Throughout
the tuTpentine belt in Georgia Ala
/ bama, Mississippi, Louisiana and