The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1938-07-11
NEWSPAPERS OPINIONS
MIR. ROOSEVELT CASTS HIS EYE OVER
DYKES 'UNBALANCE'

1t was news concerning their own section. IL
to the effect that, after six years of expert
nlentng with the economy of the country as a
whole the President has come to the conclusion
that the trouble with the whole United States real
~ has its origin in Dixie where, he opines, state
Of "unbaIance" exists. This his message to
the National Economic Council in session in Wash
ingtOn.
What valid consideration led the President to
the conclusion that there was state of "unba-
ance" i'm the South that was in any way different
from the national "unbalarce' which has charac-
terized six years of government tinkering and bust
ness batting he did not make clear.
The fact of the matter is that most of us think
the South has made the most remarkable progress
in history in the three quarters of century which
have elapsed since Lincoln made his historic Get
tysburg address. Starting from Scratch" worn
thin by the material priVations of a war fought
upon its own territory the South put recov
cry program which. though it lacked New Deal reg
imentaton. had the stronger impetus of ambition
and solidarity of purpose.
Before the capital doctors" begin the process
of making over the South. the following resume
of Southern progress, furnished by the authorta
tive Manufacturers Record, should be called to
their attention 1t should be emphasized, too, that
With more favorable conditions for business less
unemployment nationally to restrict consumption,
the totals shown would have been measurably in
creased.
Southern banking during 1887 showed an in
IN growth. percentage basis, double
that of the country as a whole. Aggregate re-
of Southern banks increased nearly $4oO,-
900 900. per cent more than the year preceding,
while the resources of the banks of the entire
try increased only 2l2 per cent. Bank clearings
increased IA per cent in the South. while the Unit
ed States increase was but per cent.
I'm manufacturing, the value of output last
year in the South reached the enormous total of
approximately $1,000. 100000. More than $685.
100000 was invested in new industrial plants. The
value of manufactured products in the year 1885,
which is the latest year for which comparable fig
Yres are available. was 1852 900, 900. The in
crease nearly So 600, 900 OOO or almost 25 per
cent.
These reports, on which the 1885 census was
based came from 81, 143 manufacturing establish
mentS which paid out 81 4 billion in wages to l "
million employees. and also paid out $5,41l 100000
for the materials, fuel and purchased power used
in their manufacturing processes.
The output of iron ore mined in the South
grew from 4,2l7,S59 tons in 1896 to 6,414,000
tons in 1887. The value of the ore shipped in
creased from S6,945,73l in 1886 to Sl0,SO2 900 in
1887
Cash farm income increased over $500 900 600
in the Southern states in 1887 beyond the amount
received in 1886, while for the United States as a
whole cash farm income declined nearly $780,
OG0. 900.
"Eighty-seven per cent of the cotton used in all
American mills is consumed in the South by tex
III
shown an increase of 100000 spindles, which
now have reached the total of 18,9l3,455. The
rest of the country's reported installed spndles
total 8,O69,OOO
The South has than 70 per cent of the
rayon manufacturing capacity of the country.
THE assessed value of taxable property in the
Southern states has risen from $13, 033, 100000 in
1910 to S29,2O3,OOOOOO in 1887.
Internationally the South is the countrys rich
est territory and with the industrial and chemical
utilization of minerals there be question of
the fact this section is destined to be of the
most productive areas in the world.
"Since 1900, when the value of the South's min
eral production was only slightly more than 10 per
of the cOuntry's total, it has risen to almost
50 per cent. The value in 1896, for which prelim-
mary figures are now available was $1,739, 431 :
600.
1.-The South produced At per cent CT the coun-
try's output of coal excluding Pennsylvania an
thracite 1t produced the entire output of the
try's bauxite; and Sc per cent of the petroleum
output of the United States comes from the South,
while practically all the carbon black from natural
gas and phosphate rock produced in the country in
1887 came from the Southern states.
Regarded as an agricultural area, the value OF
the South's manufactured products is 212 times
that of its agricultural products
While cotton is the leading crop, the South is
no longer giving virtually all of its attention ag
rieuturally to cotton. The cash farm income from
900 bales received last year was $645, $685.
900, while the total cash farm income of the South
duringthe same period 81, ISL, 052 900, that
cotton, while the principal crop, represents less