The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-09-07
THE FALL TRADE.
friends.

During the decade Immediately preceding
the war, Charleston did large and lucrative
business Her harbor was filled with ship.
ping, her warehouses were stored with cot
ton, her presses engaged night and day pre-
pairing bales of uplands for coastwise and in.
teroceanic shipment. Lines Of packets and
steamers took her cotton, her rice, and other
products of less aggregate value to New York
Philadelphia Boston, Baltimore, New Orleans,
Havana, Matanzas, New Providence; to Liver.
pool, Bremen, Havre, Bordeaux, and many
other ports; and in return were freighted with
bales of costly merchandise for our jobbers and
importers. Our banks had large capital al
their disposal, which was literally and judi
ciously used for the accommodation of our
merchants, and the constant extension of the
sphere of the commerce of Charleston.
With the commencement of the war, and the
enforcement of the blockade, all the wheels Of
this extensive and perfectly constructed piece
of commercial mechanism necessarily stopped.
The handspring was not deranged; the earth
was ready as ever "to yield her increase;
labor, conducted on the best organizad system
to be found anywhere in the world, was ours,
and in full operation; but the balance wheel
was disorderod-the motive power was there,
but could not be utilized.
Gradually the whole machinery Of trade fell
into decay At the close of the war, old and
time-worn channels had become obliterated,
and for while it seemed as though the whole
elaborate organism had to be reconstructed.
The well-known laws of trade seemed to have
lost their force. Demand and supply no longer
preserved their wonted equipoise. The mer-
chants were nearly as numerous rs the consum-
ers. There was dearth of goods all over the
late Confederacy. The articles ordinarily con-
sidered necessaries had become luxuries; and
in the first reaction upon the terrible privation
enforced by the war, every available means
was at once exchanged for provisions and cloth
ing of character somewhat better than we
had been compelled to be content with during
the two or three years Immediately preceding.
Stores were opened everywhere. fortunate
few took advantage of this food-tide, and some
of them at least, reaped rich harvests of gold,
silver and greenbacks
This Fictitious activity of trade in the South
deceived the merchants of the North. Instead
of viewing it as the dying flicker Of the expir
ing light, one last deceptive glare, and then all
they ignorantly considered it a fair
index of the financial condition of the South
ern States They soon, however, found their
mistake, but not without paying dearly for the
experience. The country was indeed exhaust
ed; there was neither money nor surplus of
products convertible into currency. Not only
his, but there was, moreover, universal want
II horses. cattle, and hogs; of Seeds fertilizers,
md farming utensils; and, as matter of course,
If ready money with which to procure these
essentials, or to carry on agricultural opera
ions with hired labor.
The march of hostile army had destroyed
he railroads; public travel being thus inter-
-upted, our city !obbers and their country GUS
omers found it difficult to keep in communica-
ion. Large numbers thus went to New York
md to other points, and established new rela
ions, and many of our merchants found too
ate that they had not taken this new state of
hings into due consideration, and large stock
Of goods, purchased at the high prices then cur
rent, remained on the shelves.
In addition to all these drawbacks, the crops
during the last two years fell far short of the
yield anticipated. The deranged system of
labor, together with our political troubles, have
largely impaired our credit and deprecated
our securities; interest has ranged at unpreoe-
lented high rates, and money, even on those
terms, has been almost impossible to obtain;
and, to complete the long iliad of our CONNER
cial woes, all this while, taxes, internal, State
and municipal, have been increasing, from
year to year, as by geometrcal ratio, and
have made less the little that had been left us
out of the wreck of our former prosperity
Notwithstanding, however, all these depress-
ing influences, we are happy to know that
Charleston has been steadily progressing in
the great work of commercial reconstruction.
Her railroads, by the unparalleled energy of
officers and directors, were promptly placed in
order; her wharves rebuilt at con-
expense; her commercial relations
with distant ports have been resumed; old lines
have been re-established, and new ones added
Although our banking facilities still fall far
short of the flush times before the war, we
have at least made commencement True,
their resources are limited, and inadequate to
the accommodation of all who are "hard up"
we think we have reason to expect an enlarge
ment of their sphere at an early period.
Nearly all our old friends may again be
found on Hayne, Meeting, King and East Bay
streets, and not few new ones in addition
Their stocks, though very prudently not as
large as 1860, are we'll selected, and afford the
fullest variety-ample to all the demands of
he trade
Although the depreciation of cotton cannot
n itself be considered an advantage to this
part of the country, still its coincident effect
If lowering the price of goods, must conduce
Indirectly to the advantage of the trade, as a
much larger consumption may confidently be
Indeed, not cotton goods alone, but
merchandise of every descriptions is much lower
low than two years ago. The crop now har-
resting is superior to any we have had since
$50; and our merchants, we think, have
very reason to anticipate fair average fall
rade
From an inspection of the extensive maga-
ines in Hayne and Meeting streets, it would
ppear that our importers and jobbers have
,Ioyided themselves fully for such demand
their stores are filled with the products of
very variety of goods, domestic and foreign.
Our merchants, some of whom have been |
ngaged in this trade over half century, have
ccumulated large store of valuable expert