Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-05-22
cnzzaN MILL KANTEn.

In almost every other part Of the
South but West Tennessee we hear of
cotton mills being erected. At Nash
vile leading capitalists have sub
seribed literally, under the auspices
of the Agricultural and Mechanical
Association, and there is every reason
to believe that a factory, worth $780,
900, VIII shortly be erected and run
ming neal that city. In Mississippi
movements of this character are nu-
merous. The Southern people are
awaking to the fact, that with the sta
pie at their doors, they can manufac-
ture in competition with their neigh
bors Of the North or their friends in
Europe, and pay their employees bet
ter wages, and preserve to them what
so many loose in the large and crowd
ed cities-their morals and their
virtue. There is in favor of the
Southern manufacturer, commissions,
freights and tares, which the North
.ern and European have to loose; he
has also the great advantage of
a ready market in which he a al
ways buy without laying up a large
stock and sinking in it a capital that
might be more ~proftably employed.
Early and late in the cotton season, he
can buy from the planter; who, as
times improve, will be enabled to act
more upon his own judgment, andless
upon that of his merchant, and sell or
withhold as his necessities or current
rates may induce. That the factories
now in existence in the South have
profted by these advantages, we are
not permitted to doubt. The number
of yards of cloth made, and the profits
divided among stockholders, as well
as the increase in the number of spin
dies and the operatives employed,
prove it. Every six months the
Georgia papers enlighten US as to these
facts; but conversations with the men
who are interested in the great mills
of that State, make it more apparent.
Besides the large dividends declared,
there are others as large, of
which the public do not hear, that
are applied to increased means of pro-
duetion; and thus, by compound
interest, the original capital rolls on,
gathering from year TO year these
provident accumulations, until at last
the stakeholder ceases to value what
to him is better than houses or lands
and is enabledto settle in the world rs a
wealthy man upon a sounder basis
than any that the best securities now
known to Wall street can afford.
These are the facts, so far as mere
profit and dividends are concerned.
There is another side to the
picture in which we find
the population that such factories
render necessary and the profits to the
general public, to be distributed in a
thousand ways of which we now can
form no idea. Just such results as
these our people are in search Of.
They are to be had only in the way
indicated. 1t is plain, then,
that a cotton mills wanted
in Memphis. Now is the
time to agitate it, while Senator
SPRAGUE is here. He has had an ex-
perience in the business as, extended
as any man of his age in the cOun-
try, and from the willingness that
characterizes him to impart all the in
formation he possesses on other sub
jects, we are led to believe that he will
cheerfulIy place what he knows about
cotton mills at the disposal of such
gentlemen rs having the means de
sire to embark in an enterprise that
viii pay better than any now in Mem
phis.