The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1909-05-05

y crease in the exchanges between the
t North and the South. This, Mr.. Toast
/ master, will operate to the advantage
of both the Northern and the South
S natural resources and industrial pc
I tentialities. it can never be wholly
4 self-supporting. 1t must continue tc
1 look to the North and to the West
for large variety of commodities
that can be more advantageously pro
duced i'll those sections. AS our South
ern industries continue to increase the
quantity and variety of their produc 9
our section will cease to buy, or WI
buy in smaller quantities, some COW
modities which they formerly drew al
most exclusively from other manufact-
uring and distributing localities. l am
confident, however, That he ultimate
effect of this will be beneficial to
both sections. What your manufactur.
ers and merchants may lose in some
lines will be much more than made up
to them by enlarged demands in other
lines. There will be an increased eX-
change of commodities between the
sections, to the material advantage of
both
Adam Smith emphasized the eco.
nomic Importance of this exchange of
commodities. In his Inquiry into the
Nature and Cause of the Wealth Of
Nations" writing of international
trade, he said:
When the produce of any particular
branch of industry exceeds what the
demand of the country requires, the
surplus must be sent abroad and ex.
changed for something which there is
demand at home. Without such ex-
portatlon part of the productive la
Dor OF the country must cease, and the
value of its natural produce diminish"
what Mr.. Smith said of trade be-
tween countries applies with equal
force to trade between localities in
the same country. 1t applies with par.
ucular force to trade between locali-
Ties IN a country so extensive as the
united States, with diversities of eli
mate and natural resources which tend
to specialize the production of differ.
9lt commodities in certain localities.
ms may best be demonstrated bv
concrete illustration. You have in
the Plttsburg District the greatest iron
ana steel industry in the United States
with every natural advantage fovor-
able to its expansion. If, however
IL had been Limited to supplying the
demands of this immediate locality
lor Its products, it could never have
been made possible by the ability TO
sell its products in other localities
"here they are in demand, and where
they can not be produced SO advan-
tageously
what Is true of the Pittsburg Dis
trict and its iron and steel industry is
true OF every community and of every
industry in the United States. The 1
exchange of commodities between To-
calities can not be effected without
transportation. The extent to which
IL can be carried on depends upon the
capacity of the transportation agencies
winch are available. Hence it follows
that there is a very intimate relation
between the developmnt of any COM
nunlty and its transportation agencies
IIs material progress and its increase
III population and wealth are limited
oy the capacity of its carriers. No
'oiiiiluIii'Y' therefore, can afford to
'tand apart from its carriers or to he
indifferent to the economic conditions
which surround them. In this age Of
worldwide commerce, the interest of
my community in transportation can
lot De merely local. 1t is national
ina even international in its scope.
IN international transportation Won
AVE- IN connection with the South
peclal interest in the establishment
u dlrect and regular steamship lines
'etween the United States and the
-atin-American trade. Our Southern
'orts are particularly important geo.
raphlcal advantage with reference to
MS Latin-American trade. Our South
I'm ports are particularly well located
WIN respect to it. Yet there is not
single regular steamship line from
ny South Atlantic Or Gulf port to any
'atin-American port south of Venezue-
l. Ihere are a few lines, generally
huer foreign flags, running from New
ork TO Brazil, Argentina, and. nv
'ay OF the Straits of Magellan. to
ME and Peru. The vessels emnlov.
IN these lines are generally freight 1
too slow, and sailing at too
reat intervals, to render efficient
S0rVIpn ,.r.A