The Birmingham age-herald., 1914-10-17

cooperation. which is sure 10 become historic. between American bankers and the federal government cooperation which was still in movement when these American bankers met.
 It is a long time since the American bankers had met in Richmond When they were last assembled In that city the United States was just passing from the old era to the new. It was the time whom the organization of large combina- tions of capital was under way. and 1t was also time when science and inven- ton were making inevitable organizations of this kind.
 The bankers who met at Richmond in 1900 then realized that the south was en- tering unon new era with as much en- thusiasm, energy and earnestness as was characteristic of other parts of the coun- thy. Twenty years have passed since the beginning of the industrial activity and growth of the south. The first fruits of
 that spirit were observed in 1900 by the bankers and while they predicted growth m the south which would keep pace with industrial and commercial activity ir other parts of the country. they could not have dreamed of the magnitude oi southern growth since last they met al Richmond.
 Richmond itself has increased its popu- lation until now 1t numbers approximately l5o,0o0. There are only two or three cities in the United States that have had pro- poruonately as great growth as has been the fortune of Richmond since 1900 The growth of this city, which reflects the growth of much of the south, Is illus trated by the increase in bank capital. surplus and undivided profits. For in 1900 SS,000,0o0 represented capital and surplus, while in 1914, $lS,e0o000 represents capital and surplus. The growth of capital in axsf- f~. t..s7. -s.t.. great, for in 1900 the capital thus invest ed was about sl7oO00o0, whereas the American bankers learned that today this capital Is $50,0o0.00o and the value of the manufactured products is nearly 800 900, 900.
 In this city, Richmond, Birmingham and Atlanta are commonly spoken of as south ern cities which reflect today the indus trial and commercial activity of the south, an activity which began about 1SS1 The statistics which tell of Richmond S growth, and which were brought to the notice of the American bankers reflect the general growth of the entire south since 1900. Nearly S4.000 .0o0. 900 is now in vested in the manufactures of the south, and the money value of it's annual manu- factured products is little under $5.- 0ooooo'Oo0. This investment of capital is not confined to two or three industries for which formerly the south was con spieuous, but covers various employ ments. The growth has been coincident with the growth of the cot9on-growing in- dustry which this year. but for the mis- fortunes of Europe. would probably have been of the money value of $l,200. .O00, 900, including the by-products.
 few years ago George Westinghouse, in an address delivered at Atlanta. spoke with enthusiasm of the resources of the south for the development of electric en- ergy through the utilization of hef water powers On the eve of the meeting of the American Bankers association at Richmond, Edison included in his list of modern marvels of invention that are of gi eat commercial practicability the utili- zation of water powers for the creation of electric energy and the convenient appa- ratus by means of which that energy can be carried over long distance
 This development has been probably greater in the south as whole than in any other part of the union. And it is one of the features to which the atten- tion of the American bankers of the south was directed at their recent meet ing.