The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-12-27

S8T gE NE
The Industrial Resources OF the South
Guarantee for the Commercial Pros
Perity OF the North.
Separated from all political considerations is the
present material condition of the South The restora
ton OF the Union Is not practically complete until we no
establish the Industrial status Of the Southern States
While patriotic men Of all classes vyng with each
other section build up the fabric of the
republic shattered by reUvion, upon the bene
ncen grounds Of reconstruction maugurated by Pres
dent Johnson other men, equally alive the interests
of the country ealousIy at work to reconstruct its
commercial and agricultural prosperity. To aid in
promoting this object they look to the cooperation OF
the prosperous North All the various interests that
contributed to the cotton supply Of the South have been
swept away by the The land alone remains but
the implements to work destroyed eectually .
II they part Of the old slave labor system ITSELF
The importance Of maintaining the cotton supply OF the
South absolute necessity In sustaining tho CONNER
cial and financial independence Of the North SO much
interest," however, Is attached to this matter in
Europe than receives at this time In the United States
that published but recently practical illustration Of
It. In special dispatches from Liverpool we stated,
upon the authority Of the United States Consul at that
the Treasury that the estimated amount of cotton
hand At the time Of the capture OF Savannah was one
million bales, and the product Of this years growth
would not exceed three hundred thousand bales. From
the attention which have recently given to this sub
ect disposed TO believe that tho statement Of the
Secretary Of the Treasury correct But In another point
of view than statistical fact does this statement re-
commend itself consideration It shows that spirit
OF anxiety prevails in the public mind Of Great Britain
respecting the future growth OF the material and to
the United States alone the manufacturing interests look
for Its supply Our India and Egyptian correspondence
establishes the fact heretofore questioned failure Of
the cotton growing experiments In those remote regions
and compels the European consumer to depend on the
more favored land of the South
The paucy Of the supply Of this years. growth OF cot
ton, the first after the war; naturally suggests compari
with the annual product Of the prosperous years
preceding The of the for 1860 show the
cotton crop for the year 1859 to have been 5l9S077
baes The total value of cotton goods manufactured in
the United States for 1850 $115, 1885, against
sos 687 for 1885, increase IN the general bust
ness Of nearly seventy six per cont in ten years. The
number Of hands employed in the manufacture
1915 males and 70 sos females, not to enumerae the
various other channels Of industry through which this
universal interest flowed
large proportion Of the surplus capital OF the country
should be directed to the development Of the legitimate
resources OF the south-io the work for which nature
has adapted her and given to her the triple royalties of
SOIL sunshine and showers with skill the part Of her
people to make her. she has hitherto becn the great
cotton garden Of the world
paramount consideration in this connection is the
of manufacturers for the material OF cot
ton to say nothing Of the necessity OF s supply for
poriation, by which enabled to regulate
changes and hold the balance Of trade in favor 1t
Is evident that IL our great manufacturing industry is to
be stimulated 10 its greatest necessity there will be
deficit OF hundred thousand bales within the next
twelve months for home manufacturing purposes II is
manifest that this large deficit cannot be obtained from
foreign countries.
The freedman of the South is skilled cotton day
laborer. This immense power is 70 c DORMANT II not
employed The mass Of tho freedmen of.tis South are
slow earn avocatons and should they be go
apt it is moi to their advantage a this time to learn them
other field OF labor is crowded, and this one
the most important stands in need of acccssions
The negro is free, but he is poor Freedom, with IT'S
inestmablc blessings, has enoined upon him the
sity TO cothe to feed TO shelter to mcdcate himself and
family All these responsibilities he has incurred with
out work. stock agricultural implements money, credit,
home land. For all these articles he is bcggar The
only consideration he give: with the great or
the frcemen or the world Is hts labor What should be
done for hmS The whites Of the South accept The
order Of things in good faith and will do all in their
power IL Is their interest we'll duty ameorste
his condition. but helpless he is unless they
can employ him. They cannot employ him unless they
pay him and furnish him with the implements Of
industry 70 work.
Cotton is specie-no longer king. Whenwc had the
benefit Of good cotton crops the balance OF trade
have seen, In favor. Such had been the
mutation OF gold that bank circulation convert
bio into specie at any time.
In connection with this subject general PROPOSE
ons have been submitted bearing upon the resumption
Of specie payments Tho most recent the commu-
nication addressed TO the Chamber OF Commerce few
days since, in which national cotton growing
ton recommended. twas thought that q crop Of
ave million bales could be raised the year which
At gold prices would be worth thousand million dol
lars We hardly anticipate such results in such brief
space Of time All that expect at present is that
the attention or the North, and with II the whole
try, will be aroused TO the necessity OF aiding the South
in the restoration OF it's industry and reestablshing
on something like self-sustaninc foundation.
New Buildings.
FIFTH AVENUE RESIDENCES.