The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1869-10-21
THE SOUTHERN TRADE IN NEW YORK.

In the course of an elaborate article reviewing
the condition and prospects of the fall trade' the
New York Tribune says:
The keynote of the present commercial sltua-
tion in the great metropolis is exactly struck oy
tie significant remark of a leading wholesale Jew
eller in Maiden lane: "The Southern trade has
been the salvation of New York this fall :; anu
certainly the extraordinary increase Of Southern
business in New York markets has given the fall
trade of 1869 volume and soundness unparal-
lelei since the war. Some observers have ventured
TO speak of the trade with the South as treblet
since 1868, but this is unquestionably an exagger-
alton; although in many branches, and especially
in boots and Shoes groceries, Jewelry, clothing ana
dry goods, moderate estimates place the advance
at from 25 to Is per cent. with prospect, in nu-
merous instances, of a continued and heavy late
trade, which will probably bring the aggregate
Southern business of the season up to twice the
amount of last year. This indicates most pros
porous and encouraging state of affairs in the re-
gion lately devastated by the rude hand of war,
and brief review of the course of Southern trade
since the close of the rebellion will show that New
York dealers are justified in taking rosec colored
view of the situation. In the fall of 1866, the
South was so destitute of supplies that every one
engaged in merchandising made money with q ra-
pidity that enticed many inexperienced men into
planters, professional men, Northern spectators
and other novices bought heavy stocks upon small
capital, ard flooded the South with more goods
than could be retailed at profitable rates. AS
necessary consequence many of this class of deal
ers were compelled TO sell out at any price, and
quit business they did not understand. In 1867,
their successors bought boldly in September and
October upon the strength of the good cotton crop
of that year. but the sudden fall of 60 or 10 per
81 +bo ooff bo ofop plo lofa in
season upset all their calculations and entailed
second year of commercial misfortune upon the
| South In 1868 another good cotton crop was
gathered, and of this the Southern people realized
the profits, instead of the spectators who had
red off the lions share the year before. Disaster
had taught prudence end compelled economy, and
returning good fortune enabled the Southerners to
| re- establish themselves on a sound and comforta-
BILE footing And now comes the cotton crop OF
1869 to swell this tide of prosperity, to insure
plenty, and even luxury, at. the South; to fill the
Golfers of the merchants of Manhattan, and to
spread its beneficial influence throughout tho civ
ilized world. In no country but the South, and
with no crop but cotton, con three hundred mil
lions of wealth be so easily created in twelve
month out of the soil. And while this holds true,
the Southern trade must continue the mainstay Of
mercantile prosperity in New York. Not only does
the cotton crop this year furnish br> al and satis
factory basis for Southern trade but the business
is almost universally in good and experienced
hands, old merchants who traded here before the
war having taken advantage of the bankrupt law,
accumulated sufficient capital for business ven
ture, and made their appearance in New York this
| fall in unusual numbers. Caution is also mani
tested against overstockng 10 fault to which South
ern dealers are especially prone, the increase in
the volume of trade being due to the greater num-
ber of buyers, rather than to the purchase Of
heavier invoices. Few favors asked in the
way of credit, many dealers paying cash, and the
others giving very satisfactory papers. In all re-
spects the Southern trade this fall is excellent but
the same cannot be said of trade with the West.
In New England trade no change is observed, and
| in New York and Pennsylvania visible improve.
ment is noted in some instances; but in the West
degree of embarrassment: prevails which delays
business binders collections and makes cautious
merchants chary of selling largely except for cash.
Recent letters from Michigan, Wisconsin and MIN
nesoa corroborate this statement and attribute
the evil mainly TO the action of the farmers in
holding back last years produce for rise.
Money is in extreme demand for moving the
crops, and business, which has, moreover. been
decidedly overdone in many localities, feels the
pressure keenly The contrast between the shrewd
but sometimes overreaching Westerner, and The
liberal, but perhaps prodigal SouthroD, is clearly
seen and felt in this state of affairs. The latter
puts his crop in the market before it is gathered,
and begins distributing its proceeds before the
first bale is packed. The former holds the pro.
duce of his land with o firm clutch, and would
rather embarrass himself and oil his neighbors
than run the risk of losing possible Profit.
Either course may result in disaster to the agricul-
turist but the Southern style Oils the wheels, while
the Western plan claps down the brakes OF trade ;
and now that the South of old the favoritc market
of New York, has commenced anew prosperous
career it needs no wizard to reveal the CONNER
cial quarter for which shrewd merchants will
hereafter steer their course and trim their sails.