The New York herald., 1869-01-18
FINANCIAL AND COMMERCIAL.

SUNDAY Jan. II, 1892
Perhaps not the least interesting feature which the
Operations in Wan street during the past week have
presented has been the brisk inquiry exhibited foI
Southern State bonds and other securities OF that Sec
tton, coming largely, too, from the people resident
there, renecting as 1t does, the rapid and posi.
tive recovery OF these States from the none
tary and material depression consequent upon
the late war, aud, what 10 equally gratifying
In this connection. the belief OF the people
themselves most affected thereby In such recupera-
tion and future prosperity. It s clearly apparent
from many sources OF intelligence that while radical
politicians OF both stripes have been engaged In
wordy warfare respecting their favorite methods OF
governmental reconstruction, and TO suit their df-
ferent purposes have at various times presented the
most shocking pictures OF lawlessness, dsorganza-
tton OF society, poverty lack Of enterprise, para
lyzed energy and Indebtedness, true illustrations
OF the state Of affairs existing In the de-
funct confederation, . very large proportion
OF the Southern people themselves, quietly
ignoring the existence even Of such selfish inter-
meddlers, have been earnestly al work In securing
practical reconstruction that would eventually
found these partisan philosophers and by the short
cut OF commercial and monetary association with
one another and with the North render easy OF So
luton, a. simply logical In their development, all
problems Affecting their condition or status in
q political sense This has been partly &C
C0mplished through the assistance OF Northern
capital, which has been largely invested the IN
dnstrial interests OF the South, with 80 far very
gratifying results. Nor is the course Of speculation
In this direction stopped yet the contrary many
OF the large plantations. which, owing to the in
ability OF their Southern owners to work them
properly for want Of means, have furnished but
small proportion OF The crop which their extent and
capacity render them capable OF, every day pass
ing into the hands Of Northern capitalists with
both the means and the intention to spply ali
cultivation and imp ovement. The very consdera-
BILE cotton crop this year, exceeding the anticipa-
tions INDUCED concerning it. has stimulated enter
prise all through the south and, with ito gratifying
Results, awakened new energy In the people, There
1s NO reason why 1t should not be greatly improved
upon next year, and before the close Of General
Grants administration we may confidently look for
rs large q production Of the staple from free
labor and modern machinery as In the most
bountiful year OF tine old regime; indeed,
with these better appliances to the cultivation
OF the SOIL far exceeding 1t. There is test
OF the faith thai is in any than his willingness to
risk his money upon tho correctness Of his opinions;
and thus when ind an active demand springs up
2fter period Of dulness for these securities which
have their value in the prosperity Of the Southern
States, It is the best evidence that could be pre-
eented Of the improved condition and prosperity of
shat section. The following Is q comparison OF the
prices OF the Southern bonds most largely dealt IN
during the past week the close OF business last
night and at tie close OF business the Saturday
hight previous.