The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-05-03
PICTURES OF THE SOUTH.

and more, and 1t IS absolutely necessary now
that they should be paid.
PICTURES OF THE SOUTH 5
WE published yesterday an editorial from
the Journal cf Commerce, which we hope win
have its proper effect upon the press Of the
North. Mr.. PRIME, the editor, has quite !
large and deserved reputation as writer Of
great point, and an accurate and impartial OBJ
server. His travels in other countries have
been very popular, and we hope that his peo-
pie will listen to him now with the same conf
dence. Mr.. PRIME hos just returned from q
long journey through the South and we have
no where seen fairer statement Of its condii
tion, nor juster appreciation Of the causes Of
its distress, and the means Of its restoration.
The whole is summed up in the words sswant
of capital It does seem strange, but it is
true, that the North does, not begin to appre-
ciate the ruin it has wrought. Politicians dis
cuss'Southern strength and Southern interests;
and possibly political Southern combinations,
as If it was the. Same South that SO proudly and
confdently commenced the war Of 1860: and
they seem afraid to increase the natural re-
sources of the South for fear Of its renewed
strength. The political agitation at the North
has had as much to do with the mistrusts of
capitalists as the condition Of the South itself.
And sensible men seem unwilling to under
stand that q government Of Northern capitali
would more readily effect speedy, 9 hearty,
nnd q prosperous reconstruction than any mill; :;
tary government, or any scheme Of suffrage.
Now both the politicians and the people of the;
North are educated through their press, and if
such papers as the Times; the Tribune ana the
Herald, instead Of trusting to the casual cor
respondence; of men who use their columns oc-
casionally fortheir own special purposes would
send intelligent observers throughout the South
who would i, not talk politics at the hotels, but
make i a point to associate with. she business
men, and study the leading material interests
of the country, the people Of the North ~ would
soon understand the secret Of what is called, in
political phraseology disafection, but which is
reilly the depression Of poverty and: which
viii 8. disappear before the hopeful energy! OF re-
turning capital .; lsl .t%a.:=sv
Mr.. Parks is right also in saying that there
never vas such field for the successful en-
ployment Of capital whether: it be used for the
generous purpose Of giving mid or the selfish
purpose of fmaking profits. There is no money
in the country, and there is no credit. Nobody
can venture because nobody has .wherewith to
vsnture. Plantations are abandoned, .frst-rate.
opportunities for business establishments are
neglected, the school and the press are feeble
because those who see the. Opportunity have,
not the means, and those who have the means
/ Do not see the,opportunity. s1s
The. enormous rate CT interest which has
been paid in the last year, especially for. agri-
cultural enterprises, is not only ruinous but it
disturbs the confidence Of all real and substan-
tial '. capitalists Men with the money to lend
and who have made it by: steady industry, feel
very naturally that the borroWer. who IS VIM
ing to pay twenty Or thirty per cent must
De playing desperate game, andssthe aconss.
quence is that the real capitalists The men who
willing to make fair nvestmsn1tss ts on fa;r ae
curity, feel unwilling to venture into busi,
ness which is neither more nor lessl than -eamb.
ing. M In this view it is much to be regretted
That. our Legislature, in its repeal Of the nsury
laws, did not make their repeal . gradual one.
Hhat the repeal Of the :usury laws il right ii
principle no one doubts, but that, under the
circumstances. the. absolute repeal sr-sa iz;z-
deious we have no doubt. We: believe that
the power to todemand, and, undgr the cirmcuni.: al IN
stances, enforce an. .exorbitant inferegt has
kePt away more capital than it has brought in. ).
- the Northern Press is really in earnest its \
present desire to serve the purpose Of recon. :.
struction, the observation Of Mr.. PRIZE viii
De safe guide. IF it win only inform itself fof
the magnificent resources even now Of these
prostrate and despoi1ed District" " If IL Win
impress upon Northern capital the many ways
N which .e: capital cen be judiciously employed;
+ twill enforce upon the people that now the
question Of Reconstruction is an industrial
rather than than political question in word
it viii follow the sure and honorable course Of
Mr: Pn1HE, twill :eontribnte more teiasgfsata
and happy result than BY the surest political
philosophy Or y the cleeyerest party. hits III