Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-07
GEORG|ALEAD|NG
ENTIRE NATION
|NPROSPER|TY
Maddox Declares Cotton Crop
Movement Has Already Been
Practically Paid For.

King Cotton is sitting steady on
the throne, and the Empire State is
marching on to the top of the heap.
King Cotton isn't doing it all, either.
Colbert f. Maddox, vice president of
ma American National Bank, and one
of ,oe most authoritative financiers of
tho South, says that Georgia's pres
-nt prosperity is in no sense a boom.
Ir tops comparatively every other
STATE in the Union-and is only an
INDEX of the good times to come.
When look over the banking and
financial situation in Georgia" said
Mr.. Maddox, Il nearly am tempted to
pinch myself to see if I'm dreaming.
IL looks too good to be true-only it's
rue
Right now the bank deposits are
no highest in the history of the At
anita Clearing House. That in itself
might or might not be an entirely
GOOD indication. A surer one is the
NAV m WHICH Tic IlOitCy W
ne Atlanta banks to move the cotton
,rop has been paid up. The slate
practically has been wiped clean
and a bumper crop has been on the
move. One Atlanta bank paid back
$3.50 600 in a lump last week.
Reserves are higher in the South,
notably in Atlanta and in Georgia
han at any time in years. The At
anita Clearing House in one week
showed total deposits increasing $5,-
100, OO0"
But apart from the banking bust"
ness-a. certain pulse of the situa'
fiou-these other facts are now on pa
lade:
GeorKia's cotton crop is estimated
at 800, 900 bales, worth $175, 100000.
The cotton seed from the crop
should yield the farmers S2O,0OO,oOo
more. ooo
The Georgia corn crop of $4,000, 900
bushels is the record crop for the
state
And both the cotton and the corn
crops have given fine evidence Oh
thoughtful, intensive farming, on
far higher plane than in any pre-
yious year.
The growing wealth and prestige of
the South Is set off sharply by the
situation in New York and the East
There money, instead of being pientl-
full and easy, Is ready to run at the
drop of a hat, or at Whoop from
he war DOGGY. The currency DILL
which the South regards with equa-
% xpnlNnYOn Pln9PE
a grievous uncertainty in Wall street.
and the Mexican situation cuts in
heavily to add to the Eastern ner-
business.
All of which, Mr. Maddox says, is
because the prosperity basis in the
Fast is not nearly so solid as in the
Southland particularly in Georgia.
iron and Steel Tumble.
In place of the tremendous pro-
0Ietive power of rich section Just
inding itself, the East is struggling
with mercurial and sensitive and nc
tious values in railroad properties
nd similar investments. The more
solid productive features-iron and
steel and the allied manufacturer
oroducts-have tumbled sharply, and
still are tumbling.
And as for the new tariff" Mr..
Maddox said, down in Georgia we
don't mind it at all--relatively speak
ing. We have had so little protec-
ION in the past that the removal of
uart of the famous bulwarR Of infant
Industries has scarcely touched US.
And we have faith in the President
and in Congress TO devise a currency
measure that will protect the whole
rountry from any more panics due
10 the uncertain nature and supply
Of our currency"
Great times ahead for Georgia!