Southern Wealth and Northern Profits

Southern Wealth and Northern Profits

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1860 edition. Excerpt: eminent engineer. We have then the fact that-the South hats as many miles of railroad as either of the other sections, and that they cost per mile less than half the cost of the Northern roads, and two-thirds the expense of the Western roads, a fact which shows the economy with which the Southern roads were built. We now take from Stovfs Maihvay Annual the railroads delinquent on the interest of the bonds: Amount. South 3 companies. $2,025,000 North 9" 39,000,000 West 21 u 68,120,000 Total 33 companies. $109,215,000 The business of the South has, it appears, paid the cost of 9,053 miles of railroad, where the North has been unable to do so, and the West has shown still less ability to sustain that length of road. The capital supplied to the latter section for construction of the roads came from England and the East, and was expended in a lavish manner, stimulating business and speculation, which has fallen through, leaving a disastrous condition of affairs in all that region. The railroads themselves show, in the declining revenues, the fact that they owed their former prosperity less to the effects of free labor than to the factitious activity caused by a passing speculation. The crops of that region are not, like those of the South, in constant and active demand, pressing always by the shortest road to market. They depend for realization upon short crops abroad. In ordinary seasons the price will not pay for transportation by rail, while the South becomes an active competitor with the West for the supply of the Northern and Eastern States by water. In illustration of the great progress which the South has made in the means of transportation afforded by railroads, we take the following from the most accurate sources: Kailroads Of more

Product details

  • Paperback | 72 pages
  • 189 x 246 x 4mm | 145g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236555910
  • 9781236555915