The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1867-05-09
To Northern Capitalists.

4
nal Of Commerce, makes the follow.
ing suggestions to Northern capital.
lists. He has recently been on a
visit to the South, and is writing o
series of editorial notes" on her re.
sources and needs:
There was never offered to capi-
tallsts more promising field of in
vestment. 1t needs only visit to
convince them of this, and they will
be welcomed with the utmost cordi-
ality, whether they come as visitors
or as residents. It matters nothing
what Is the political faith of the
Northern man; radical or conserya-
tive. he will be welcomed and we'll
received. The published statements
to the contrary of this are absolutely
untrue. If q Northern rowdy gets
drunk in Southern hotel, becomes
riotous and receives deserved punish
ment, 1t is generally published in
the North as an instance of South-
ern lll-treatment Of Northern travel
ers; All classes of the people, old
and young, are impressed with the
conviction that they need Northern
visitors and settlers among them.
We have seen, in several Instances.
groups OF Northern travellers. con-
verslng III hotels with Southern men.
where, III the course of the conversa-
tion, it appeared that some of them
mad been soldiers on opposite sides
In the same battles, and the course
OF the battles formed at once the
subject of animated and Interested
conversation, but in no instance was
thero the slightest insult, ill-feelinp.
or passion displayed. Wo have scon
similar conversations between civil
llans where the subject was the loss
OF near and dear relatives on oppo-
site sides of the contest. In short.
the war has already assumed in the
minds of men n sort of historic
aspect, its results are accented as
conclusive, and no one dreams of
ever again opening the questions in
volved.
One of the best societies which
could be formed now would be n
benevolent society to promote in
tercourse between tho two sections
1t Is not the expeditions of political
speakers which will do good. It is
the visit to the South of honest men
who have no political ends to serve
which should be encouraged.
We speak of the openings for capi-
tal. These openings are of two
classes; the first in the way of loans
OF money, the second in the way of
purchases of property. There is, of
course, apprehensions on the part
OF Northern men that the values of
Southern securities may be over
estimated. But we are pursuaded
mat there can hardly be lower
depth than has now been reached.
certainly 1T is impossible that the
real estate of the South can ever be
worth less than it is now offered at.
Ihere are no better securities in the
world than are now proposed in
ponds and mortgages on Southern
real estate. The margins are ample
on the present low valuations, while
they are from four-fifths to nine
eentns OF the value of the property
eight years ago. We have seen i'm
proved property of the best class,
which was salable before the war OF
S6o, OOO offered now for $15, 900, and
loan asked on it of So, 900, without
taker: We have seen plantations
formerly worth ten dollars an acre,
including cleared, swamp and timber
land, now offered urgently at 81. 25
an acre, without finding u pur-
chaser. The general depression is
SO great that men are anxious only
for a little money on which to en-
deavor to make q new start from
the beginning. They regard their
present ruin ms absolute.
The question for capitalists is of
course simply, whether the future
promises better state of things
and higher values. 1t is impossible
to look over the rich lands of the
South and doubt that they will again
hereafter as heretofore produce
wealth, and sustain commercial and
political power. The world wants
their produce, and the world will
have it. If last years crop had not
proved to SO many failure, this
year would have done much to in
crease values and arouse industry.
The National Republican, the Pre-