, 1867-04-19
NUMBER IS.
Depreciation OF Property in the South.


A correspondent of an English paper. writ.
ing from Vicksburg in December last, con.
cerning the depreciation of property in the
South, caused by the var and-its results.
says: 81 commence with/a fne estate of
5000 acres, 2,9gO of which are cleared, sit,
uate in Madison County, aud within half,a,
dozen miles of railway station, with trains
running twice day to New Orleans, This
estate was bought before the war for SIS.
900 In gold and last year it was purchased
by friend Of mine for $4,000 in greens
backs The purchaser of this estate, which
had the best reputation for the character of
I ito coil, aud tho amount of ito produce "a
which was correspondingly y assessed, received
with 1t property of various kinds, including
horses, mules, oxen, milch COWS, etc. An
adjoining plantation, possessing one of the
finest mansions in the country, now in the
most perfect order, with other buildings of
corresponding excellence, was sold last year
at $4,000 The land consists of l6OO
acres, 100 of which are cleared. The house
alone cost the entire of the purchase money
In the same county, and three or four miles
from railway, is an estate of l, 40 acres,
with splendid mansion in first rate condi>
ton, and complete in every respect, which
the proprietor is willing to dispose of. and,
indeed which nay be sold to another friend
OF mine before this letter reaches your office.
1t has been offered at S22 600 but it is prob
able that it will 60 as low as $4,000 Pre-
vlous to the war its owner would have
thought any one mad who offered him less
than S4O,OOO for it, A gentleman, whose
name could mention were it necessary to
do so, lately bought place near Vicks6urg
for $4,000 in currency, which place he had
actually sold before the war for $4,000 in
gold: Along the Mississippi line of railroad,
within less than three miles of water cars
riage, and dozen miles of the nearest sta.
ton, certain estate can be had for $4,000.
Before the war it was purchased for $50,
OOO In gold. But with the estate the owner
offered to hand over to my friend 40 mills,
81 head of cattle, 60 sheep, 200 hogs, and a
quantity of corn. There is on the ground a
large saw mill, worked by steam; this mill
and the gin house, were erected at cost not
under $4,000 The buildings alone are
considered to be worth $4,000. l might
multiply instances Illustrative of the extra
ordinary change in the value of property in
the South, but the repetition of the same
state of things would be weqrsome rather
than Instructive. 1 shall, tIoreEoro only
mention one case more, which is so far useful
as 1t bears directly on the labor question;
for, while exhibiting the independence of
the emancipated negro, it affords glimpse
of the state of the difficulty with which his
former master has now to contend. The
plantation of which write was valued before
the war at 100000. a gentemaH, who is
In daily communication with my friend and
Informant, sold half the property before the
war for 100000. The estate has been held
in partnership. The entire property can now
be had at one>tenth of the original value
has, in fact, been offered for 100000 You
may naturally suppose there exists some
special reason for this extraordinary depreci>
alton of once valuable property. The ne>
groeS consider it too far back, too isolated,
too distant from a town, in which they could
freely spend their dollars, and they will not
consent to remove themselves from the pleasr
ures and enjOyments of what they suppose
to be civilized life. The land is most pro,
ductive, the buildings, machinery, and other
appliances, are all of the best description
but, lacking the labor, the property which
was six years since estimated at 100000,
is literally valueless at this moment"
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A YOUNG lady recently gave lecture in