Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1867-01-03

| show that this was In great degree the re
suit of orr Institution Of slavery. we couit
not make the most skillful mechanics out O
this part of our population, and foreign skill
could not be procured because of the pre-
JUDGE there was against this class-lntelll
gent and respectable mechanics said they
would not migrate to country IN which
manual labor was confined to degraded
class Whether this was the only, or ever
the chief reason for orr being without man
ufactures, we will not determine.
The fact is unquestioDable, and we urgeC
upon all who could command capital, to III
vest it in the manufacture of some of the
many articles which abound in the South
We showed the advantages possessed by tho
Southern States, and particularly by Noru
Carolina over any other part Of America
for becoming IL manufacturing country
Everything, except somu spices, that ever
grow anywhere, can be found growing al
the South, and if the factory can DE
erected near where the article grows
or may be found, the less must the expense
be of manufacturing it.
We confined our remarks chiefly 10 cot
ton, and used some plain AMI obvious rea
sons forthe poverty of the South under stIcl
system as ours Since writing the articles
alluded to we have read Il most striking anC
suggestive paper, in De BORIS Recie,r, or
the subject Of direct foreign Grade by the
South, which confirms our views and III
duced us to add this paper. The situation
of the cotton planter is therein graphically
given as follows He sells his cotton 10 &
New Yorker, and pays him freight and in
surancc commissions and storagc--ihe
New Yorker sends it to Europe aud pays
for European goods with it--he brings the
purchased goods to New York in Northern
yessels--he insures i'll Northern houses
he stores them away and waits for the
Southern merchant to purchase the goods
and pay him lis pratt uni I'll erpeHSe$-the
Southern merchant pays to the North in
surance and freight, and makes oh these &c
| cumuleHeG expenses om Of tie cotton pInnter.-
Do you wonder that he is POOR 2" Suppose
now the planter and the Southern mer-
chant should combine to foster direct h'ade
to Europe, is it not plain that all these i'm
| mense expenses which now fall on the plan
ter would be saved to him, and the legiti-
mate profit go to the Southern merchant
But it is replied to all this, that we
have not the capital. This we are
told can only be found in the great
centres of commerce. Is this true :
We grant that it is found there at present
but why? Is it not because capital like
everything else. Goes to the best neoUkef p
There is more money in New York than
elsewhere only because it is more needeo
there, and will, therefore, command Aigh-
e, price than where it is less needed, fo1
money is as much matter OF traffic as any
thing which is bought and sold-wIlere il
commands the highest rate of interest con.
sistent with safety, there is It's best market
and there it will be surely found. So fan
! is it, then, from being true, that capital is
only found III great commercial centres
| that it will leave such centres for any point
in the circumference where it is of more
value than at the centre. Why is Englisl
capital found traversing the broad sea three
thousand miles to find investment in the
Railroads, Canals, and improvements OF
every kind in America Only because 6
higher price is offered for it here Let it be
known tomorrow that capital will be bet
ter remunerated in the direct trade between
the South and Europe than it now is in
New York, and our word for it, it will soon
be found leaving that city Or any other cen,
ire for a better n1u1het.
Now, we think this is the vital problem
to be demonstrated by the South Can il
be difficult to prove that he who buys cot
ton at the same price in a Southern market
and takes it directly by one trip to an Eng
lish cotton mill, must be able to realize great
er profits in its resale ut the mill, or in the
manufactured state than he who has to in
cur the long list of expenses we have emu
merated between the market he bought it
at and the same English mill Arc not
all such Intervening expenses just so mach
subtracted from the profits The direct ship
per realizes ?
We see in tho Review above named, sew
eral points from which direct trade might
be successfully established with Europe,
Norfolk, Charleston, Savannah and New
Orleans, and Of coarse Wilmington is en-
tirely ignored. This has always been the
fate of North Carolina she is passed. 0re9
in coming South whenever any CONNER
cial schemes are spoken of, and yet we
have been told by those engaged in trade,
that Wilmington has some advantages over
all other Southern ports, not the least Of
which is, that of being able to furnish 81
naire carg0," and if We have been correct
ly advised, this is very important atlyan-
tage i'll the direct trade of which we speak.
We will go further and say that the Rail
roads to Wilmington have opened this
port to supplies from the Western parts of
North Carolina, Virginia and Eastern Ten
nessee which must vastly increase the bust
ness and wealth Of the CITY, But these adj