The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-02-16
MARVELLOUS GROWTH OF THE SOUTH

and but little onefifth to cotton, the Manufac-
turers Record points out. And yet there mil
lions of people in this country wno still believe that
cotton is the chief factor in the Souths agriculture
and In its wonderful advance in wealth during the
last few years.
The amazing increase in Texas in industrial &C
tivites and grain production is in way or an
other, very nearly quite matched in every other
Southern state In the central south is now center
ing gigantic scale vast activities in cotton man
ufacturing, with conditions Of prosperity never
dreamed of before. In Alabama and other mineral
states there is almost equal progress in other lines
of industry
THE amazing agricultural wealth is rapidly being
fully equaled by industrial growth. and now the
whole South throbs with the vigor of life and the
onrush of what few years ago would have been
regarded unbelievable prosperity. And yet this is
only the beginning only the first ray of the rising
of prosperity.
In many of the Southern states the percentage
of gain has been greater than in Texas. North Car
olina had crops last year valued at S603oOo0oo as
compared with the fve-year average of 19i3-19l7
of 1888 100000 In South Carolina the average of the
five-year period Of 1912 100000 to $o20500O0O
last year These two states make remarkable rec
ord scarcely surpassed by any other part OF the
country. 1t is an interesting fact that California,
with all of it's vast agricultural wealth. had total
crop production last year of S43OO0OOO less than
South Carolina and s2o8000ooo less than North Car
ona. Oregon and Washington. which boast nightly
of their vast agricultural potentialities, not
even among those who also ran, as compared with
the Carolinas or with other Southern states. The
total value of the crops of Washington last year was
s196,4000OO, and Of oregon, s1390o0000.
"The three Pacific Coast states. Washington,
Oregon and California. had aggregate crop pro-
duction last year of s8100O0OO0 1896 100000 less
than the state of Texas.
Under these circumstances it is not to be Won
dered at that there is amazing progress throughout
the South and that the bank resources of this sec
ton are growing with rapdity that literally as
tonishes the treasury department.
THE most gratifying feature, however, of the
whole situation is that this gain is based largely
on diversified agriculture and the fact that
while there is a decreasing grain production in the
rest of the country as shown by last years figures
there enormous increase in grain production
throughout the Southt
1T will take some years of this Astounding pros
perity to give to the South the great accumulated
wealth of the North and West. For 80 years those
sections piling up billions on top of billions
of dollars while the South struggling TO over
come hte bankruptcy of 1865. Fifty years ago the
North and West We're already high up the ruhg of
the ladder of abounding prosperity the South was
down at the bottom struggling to get foothod
on the first rung 1t is climbing upward now. 1t .
begins to sec the daylight shining the depth
of poverty out which it has been moving steadily
upward. What it has accomplished in the last few
years is only indicative of the vastly greater things
which will be achieved during the coming years.
Heretofore the great industrial and railroad in
terests of the South with the exception Of cotton
mills have been largely owned in other sections. |
Whatever profits were made by the sulphur mines, ,
and the coal mines and the iron furnaces. ard the
railroads We're largely paid to northern nd Western
stockholders The South got the benefit of the EN-
ployment that was created, but it did not own the
capital of these institutions. The balance of trade
therefore, was enormously against this section 10 a
greater extent indeed for many years than the bal
ancc of trade will be against Europe. but now the
balance of trade is turning toward the South. The
millions and tens millions which it has annually
paid to Northern and Western insurance companies
10 Northern and Western financial institutions for
money advanced. the profit much of its individual
development which has gone to stockholders in other
,egions will be offset by the South's ability 20 fl
nance itself and to command respectable price for
is cotton for other things which it is producing
or sale~ elsewhere.
THE nation may we'll rejoice that this great ma
ional asset the South, the greatest undeveloped
sset of this or any other country is at least earn
ng for itself and for the nation dividends common
urate with the resources with which it has been
10 marvelously blessed by nature"