THE SOUTH'S REDEMPTION.

FROM POVERTY TO PROSPERITY.

In 1860 the Richest Part of the Country-In 1870 the Poorest-In 1880 Signs of Improvement--In 1889 Regaining the Position of 1860.

Its purpose is to show the comparative progress made North and South during the last decade; and no period could be selected that would more fitly represent the contrast between the South under present auspices and when under reconstruction influences. When 1880 began prosperity was commencing. The night had passed away and the morning of a brighter day was upon us. The Southern States were fast recovering from the immediate blighting effects of misgovernment.

The first table presented is of assessed values:

The assessed value of property in the South, as already stated, was $2,100,000,000 less in 1870 than in 1860, while in the rest of the country there was an increase of over $4,000,000,000 during that decade. Not until about 1876 were there any decided indications of a change for the better in the South. By 1879-80 an improvement was seen, and it is since that time that the most marked progress has been made. That this progress has been phenomenal, and especially when the poverty of this section at that time is taken into account, the statistics given in this issue of the Manufacturers' Record will certainly make plain. A comparison of the assessed value of property, by States, in 1880 and 1889, gives the following:

The Census report of 1879-80 estimated that the assessed value of pro-
perty in the South was only 41 per cent. of the true value. On this basis
the true value of property in the South in 1880 was $7,105,917,300, and
the value at present $10,293,088,700—a gain of over $3,000,000,000.

The editor then gives statistics showing progress in each of
the States in everything going to make up the following
table; but space will only be taken here to give the sum-
mary, as follows:

The figures, however, as to banking, deposits, profits, &c.,
are so important that they must be given in full. These con-
stitute the most infallible test of the condition of the country.
Following is the statement by geographical division:

In order to make still clearer the relative progress of the
States treated of in this book and the other States comprised
in the above tables the former and the latter are grouped
below. The figures are so remarkable that attention is here
called to the fact that the editor has taken them from the
official reports.

The term Northern and Western applies to the following
States: Maine, New Hampshire, Vermont, Massachusetts,

Exclusive of reserve cities.

Rhode Island, Connecticut, New York, New Jersey, Pennsylvania, Delaware, Maryland, Ohio, Indiana, Illinois, MichWisconsin, Iowa, Minnesota, Kansas, Nebraska, and t of Columbia; and the term Southern applies to the ng States Alabama, Virginia, North Carolina, South a, Georgia, Florida, Mississippi, Louisiana, West VirTennessee, Arkansas, Texas and Missouri.

is comparison shows that while the percentage of inof banks was, in the North and West, 37 per cent., it in the South, 164; that in the former the increased perge of capital stock was 19 against 125 in the latter; of us 53 against 194; undivided profits, 45 against 131; s and discounts 68 against 182, and deposits 53 against the average percentage of increase in all these items ng about threefold greater in the South than in the remainer of the States presented.

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The facts stated in the preceding portions of this book and those shown by these figures present, it is believed, the most startling contrast between the results of good government and bad that can be found in the history of mankind. Statistics, however, do not always impress the mind as vividly as the personal evidence of an intelligent witness. There is no more competent observer than Vice-President Morton. On his return from a recent trip to the South, he talked to a reporter of the Washington Post. The whole interview may be interesting to one who wishes to understand the present condi