The Montgomery advertiser., 1908-04-19

As the United states has depei ,, century on the capital of Europe for building railroads and the development of large undertakings. 60 the South must depend on the East and wsst as well as upon Europe. fer capital for it's great development enterprises.
 Capital Waiting te Come.
 If we had as many miles of raii- road in proportion to area as Pennsyl- vania, and we have far more natural resources out of which to create traffic than Pennsylvania. we would have 100000 miles in the South, instead of 66,0o0 miles as at present, and most of these lines would be, as they are in Pennsylvania. doubie.tracked, and some of them would have three and four tracks. There is ample capital in the east and in Europe waiting for iri- vestnient whenever and wherever at- tractive opportunities are presented--- attractive not only from a probability of good profits. but from an absolute assurance of safety from unwise at tacks by legislation. Then today Mex leo is drawing millions of dollars from the east, passing it through the South into that country. where already nearly $i. 900, 100000 of American capital is now invested in railroads and mining and manufacturing enterprises. This capital is in Mexico because of the ab- solute protection given by the Mexican government The South furnishes far greater opportunities for such capital greater, in fact, than any other place In the world, so far as the inherent richness of It's resources Is concerned; but the business world feels that the anti.railroad and anti-corporation spirit which has swept over this sec flo nhos so endangered the safety of investment that 1t is now exceedingly difficult to draw money into the South for any development enterprises.
 Afraid to Come,
 'It is true that here and there based on special conditions. some large un- dertakings are being carried out in the South. but for every dollar of invsst- ment money now going into Southern enterprises. a hundred. yes. . thousand, could be found if this section couia give to the country at large such an overwhelming assufance of conserva- Europe realize that the protection or. fered to capital is as great as the op- portunity offered by our natural re. sources.
 Why should the people Of this ssc- ton be willing for the state ok Massx. chusetts 10 do more than haIf us much manufacturing as the whole South. and Tor Pennsylvania to do s3,000.000 more, when we have all or the advantages that nature could croyvo upon any section and Yet we are per hitting them to lie dormant, valueIess to ourselves and valueless 10 our coun- try.
 The city of Boston has a lafzcr nn- nLa1 output of manufacturers than the state of Georgia. and yet Boston, like the whole state of Massachusetts, comes to the South for It's cotton. to Alabama for it's iron and to other parts of the South for it's lumber. to Virginia for its coal, and goes to the West for its food stuffs. On such an artificiai foundation. backed by we'll directed energy and by laws, which protect the investor. and raw capital there, for even the city of Boston is constantly advertising to the world it's manufac- turing opportunities. the state of mas sachusetts has four or five times as great manufacturing interests as Ala banna and Georgia combined though it is only about one.tweifth in size or these two states.
 Knew what Was Coming.
 There is no mystery about the change in the South from great ana abounding prosperity to inactivity ana dullness Any man who would have honestly studied the situation twelve or eighteen months ago could have