The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-08-12
CHI A r L F. S TON.
THURSDAY MORNING. AUGUST u, 1869.
The Condition ands Prospects OF South
?" ~'G C@rOltna. --.,s

in the affairs Of South Carolina is very gra-
tlfying to our people; but when we find it
gravely asserted in the columns Of the Ma.
con = elegraph that ''all the material inter
ests Of Carolina are more completely par.
alyzed than those Of the other cotton States,
and the evidences Of recuperation are man
ifesly more slow and uncertain" it be-
comes our duty to say agobd word in our
own behalf to prove that our case is not So
desperate IS our friends seem TO believe.
The condition Of q State is fairly indioa.
ted by the net money value Of its produce,
by the healthiness or unhealthiness Of it's
trade, and by the encouragement given 10
new undertakings and to all movements
which look to the development and utilisa.
tion Of its resources and wealth. Applying
these tests to South Carolina, it is found
that We have no reason to b. ashsmed OF
the progress we have made, and that the
rapidity and certainty Of our recovery
from the effects OF the late war have not
been excelled In any other State Of the
| South. ..oir fshf1
The meney value Of the South Carolina
cotton crop Of 1868-69 at an average of
twenty five cents pound, is about $l8,
600, 900. This cotton, with good manage
ment, can be produced at ten and twelve
cents. Adding to the cotton crop, our
large crop Of rice, the proceeds Of our
phosphate beds, and Of our fruit and vege-
table trade. it may be safely estim ated chat
the net profit on the marketable ,produo.
tions Of 1868 so is between So. OOO, GOO and
$4,000 600. This is exclusive Of bresd.
stuffs and meat raised fore home oonsutnp.
,ion. The profit on the drops Of rice and
cotton for one year is, therefore, sufficient
to pay off the whole debt Of the, State. The
sescoast has met with disaster afser disas
ter, but for three years the middle and up.
per counties have been steadily making
money. Old debts have been cleared, of:
and no new ones Of any Consequence have
been contracted. When loans Of money
! were wanted they could-not be had. This
compe'led The general adoption of .he oaah
oJSton ot 0oihS -~-ainaas which - 44ow the
rule throughout the State. All our mer
enants agree in saying that'the goods soid
to the country dealers are promptly paid
for; and We know that in the North and
West our credit is as good az it was in the
palmiest days before the war.
But after paying of old dsbts there was
still large surplus Of money in the hands
of the planters and farmers This was ap.
piled to putting the plantations in working
order, to the purchase Of implements and
stock, and to the repairs Of houses aud
buildings. The money /, still rsm .inine
could hnd'no investment. There were no
negroes to be bought, and Of land there
was already more than enough. The greater
part of the surplus was invested in gold,
and, in every village in the State, tens of
thousands Of dollars are carefully hidden
from daylight and usefulness. Upon this
pointwe have made careful inquiries. and
we are convinced that there is more hard
money in South Caroliao 80 day than there
sv7s at any one time before the sOar. We want
to see this nloney in aotlve clrculation, and
ut will gradually flow into the channels of
trade. But confidence is b plant Of slow
growth, and the dangers aud the yicissi
tudes Of the past are not easily forgot.on.
Passing from the country DISTRICTS, which
are practically out Of debt anHaaG4ve more
ready money ,nan they ever had before, We
turn to the cities Of Columbia and Charles:
ION, In these cities the, spring trade Of
1859 was better than that of 1868 or 1867. |
while there is every reason to expect an
/ unusually UNI good fall trade Columbia is
gradually rebuilding. Senator Sprague
promises to erect mills on the Columbia
canal, and the value Of real estate is ad.
vancing steadily, il slowly. Charleston is
rapidly recovering her old business Geor-
gaa and Alabama are again supplied by tho
Charleston jobbers and merchants. and.
thsnks to the improvements in our railroad
system, freight 10 sent without tranship-
ment from CHARLES on TO- ST.. Louis. Vickss
burg and the ciaies Of the Cult. We have
"a, feet of swift steamships plying between
this city and the Northern ports. A line Of !
steamships from Charleston to Liverpool di- |
freot twasi established last year, and is an
accomplished fact Ia Oclober the 6ra
steamship of the season will Be loading at
our wharves for Liverpool, taking aboard
not only the South Carolina staple, but the 4
cottons of Georgta and Alabams and ifas |
Mis'sissippi. W'nsto'hsr Southern CITY. ex-
cept Bsltimors, has established direct trade
Win Europe In our sister oit,es there
was great deal Of talking and writiag
Charleston said nothing, but has establish
90 tho Charleston and Liverpool steamship
line. tf,% D x F3sgSsssf ga 4
Ard infsgArd % raiiroads our people ars
moi iais A.pumoer Of new railroad Bro /
} )rcts are already beforathe public Sons
Of them may iDjares ChSrisstcn, bu. oil o,
them viii Be o. benefit 10 the State at largo. |
rne Big n FAshsr sof Rsilroad---ths B,s+
Ridge---is undsr oantrac, and Ia ~ aec,ad +. j