Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1866-06-30
Prof. Fowler on Cotton Growing.


From the New York W orld.l
Professor John w. Fowler, LL. D.,
of the law school of Poughkeepsie, on
Friday evening delivered in the Music
Hall of Cooper Institute, before a small
but greatly interested audience, lee
ture ION cotton-growing in its relations
to the interests of the North, and the
inducements now presented to the in
vestments of capital in its cultivation y
The lecture was under the auspices of the
New York Association for the Advance
ment of Science and Art Dr. Richards
assumed the chair, and Mr.. Distonel was
selected secretary of the meeting. Prof
Fowler introduced the subject, after a
few felicitous remarks by the President,
by stating that his remarks would be a
practical exhibit of the financial and in
dustrial prostraton of the South. In
beginning, the gentleman disclaimed the
inhumanity of refusing assistance and
support to the South. Slavery, whether
wrong or right, had been poverty to
the South, all things considered Free
dom, if but economically viewed, would
be great advantage to the late Confed-
eracy. The gentleman referred to the
~
develop the South. War was but the at
tribution Of opposing systems, and unity
of labor would assImilate the sections
and conduce to the prosperity of both
War was always essentially evil, but in
human economy evil and good often
stood in the relation of cause and effect,
and in this sense our war has been but
the unfolding of q better destiny to The
nation.
After referring in general and ana
lytical manner TO the certain ultimate
homogenity of our people, the subject
was particularly opened by stating that
the South, rich in resources, was devoid
of present ability to call them forth. He
drew an elaborate picture Of the desola-
tion of the South, brought by the excesses
of both armies, and of the voluntary ruin
which the inhabitants had wrought in
their patriotic devotion to their section $
believed welfare. The planters not only
had not the wherewithal to pay for labor,
but not enough to purchase agricultural
utensils Worse than this, the South
was devoid of credit-a bankrupt at
home and abroad. South Carolina is an
instance, of which all the cotton States
are also examples Sl00,000,000 was
the estimated value of her property
before the war; now 500, 10000 more
than represented her property value,
which in the market would bring of cash
not more than S33,000,000. Considera-
tions Of interest as well as patriotism in
duced to the investment of Northern cap
ital in the South. The North was emf
nently a manufacturing country; and
we have been in the habit of buying
10000 bales of cotton of the South
an average cost of 5000, ,000 This for
10000, 900 we manufacture into fabrics
worth Sl20,000,0 ,000-a clear gain OF
S50,000,000.
Not 10 take advantage Of this were a
madness to which the folly Of secession
were wisdom. The South had recently
exported some 5000 900 bales of cotton
a year; and this had brought into the
country $l20,G0O,OO0 annually
than all our goll mines have ever yearly
yielded This fact called at once for the
restoration and rehabilitation of the South.
Gold is what We need to maintain our
credit, and pay our national debt, and
cotton is gold. Again the South has been
the market TO which the North has annu-
ally sold 500, 900, 600 worth Of msnufac
lures. and to vassalize the South was 20
crush out the possibility of renewal Of
such revenue. To turn our back on
such customer was a suicide of which
Jonathan could not afford to be guilty.
New York's mercantile interests also
called for the renewed patronage of the
South. These and other reasons make 1t
highly advisable, if not necessary, that
the North should furnish the capital to
begin these currents of prosperity. The
tax on the national debt is $50, 100000;
the expenses Of Government yearly,
S3, ,OOO, ,OOO,O 900, must all be paid.
Towards this the South can contribute
comparatively n6thing, so long as refused
Northern capital aud voice in our Gov
eminent The condition Of the freedmen
demanded money investment from US
Less than fourth Of this immense and
helpless mass are now at work and can
find work. Their existence, their use
fnlness, are the prevention of their CON-
ing North in swarming streams, over
crowding our industry aud degrading our
society, depends upon the common sense