The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1869-02-21
Spring Tradc-VVhat the South and Vy.st
VIII Do In 1t.

began. Though trade has been dull and
money scarce. the number Of failures has
not been larger than usual, nor the losses
greater. This is gratifying surprise to
many persons, for it was feared few months
ago, that the present winter would witness
great embarrassment and possibly crash,
in commercial circles. Our merchants and
our manufacturers can hardly consider
themselves entirely out of danger yet, for
they still have several weeks of the dull
season before Shem, but, nevertheless, we
think they may reckon on reaching the
spring without any greater difficulty than
they experienced during the two months of
winter now past.
The country is bearing up wonderfully
under the enormous load of taxes it is
obliged to carry-showing more vigor and
vitality, we must confess, than many shrewd
observers believed it capable of. Notwith-
standing the immense drain upon the earn
ings of the people. they manage to hold
their own in ell sections, and gain ground
steadily in some. Not only are they meet
ing the demands upon them for money to
pay the bond-holders their $3.50, 900, 600 in
terest annually, and feed the enormous
army of cormorants gathered around the
public crib, but they are also repairing the
waste of war; starting new industries; de-
veloplng new resources, and materially aug
mentlng the aggregate wealth of the country
This is especially the case in the South,
where industry is making strides which
astonish even those who were most hopeful.
From all parts of that section, even the
parts in which the tools of Northern radi-
calism are doing their utmost to prevent the
restoration of public order, nd vices repre-
senting steady and rapid progress in recu-
peration, are constantly coming The cotton
States are better off by 800 per cent. than
they were three years ago. The cotton crop
alone is probably worth as much this season
as the heaviest crop the South raised in her
most prosperous days, and besides this, the
South Is now adding to her wealth by rails
ing cereals and other products for which
she formerly relied upon the North and
West The yield of cotton in 1868 was not
less than 100000 bales, and the staple
now commands at least double the price it
brought when the annual yield was about
5, 600, 900 bales. Then tobacco and molas-
ses, which are rapidly recovering 2 lost ground
on the list of Southern products, also COM
mand much higher prices than those ruling
before the war, and all other staples are
propSortlonally increased in value. So the
South. at least, is rapidly extending her
sources of wealth, and laying the founda-
ton Of solid and substantial prosperity.
Nor is the West behind. The large agri-
cultural States are annually increasing their
wealth and influence, not only by enlarg-
ing the area of land under cultivation, but
equally by building railroads and opening
new routes of travel and commerce.. The
great Pacific Railroad, which will be open
through to California next summer, is al
ready opening vast territory to settlers,
and playing an important part in develop
ing some of our most valuable resources.
New cities are springing up along the line;
sections hitherto inhabited only BY the In
dians are being populated by families from
the older parts of the country; farms are
being laid out and brought under cultiva-
ton, and all the process of civilization
brought to bear to make region that only
few years ago was almost unknown, at
tractive to the settler and vastly useful to
the whole country.
The recuperation of industry in the
South, and the extension of populated ter
ritory in the West, have made their great
est progress during the past year. Their
effect upon trade and commerce in the
North will, we think, be manifest as soon
as the next business season opens. The
South will purchase more largely in our
markets this year than at any time since
the war closed, and what is more impor-
tant, she will have ready money to pay
for most OF the articles she may need. Last
year, and each year since the war, her mer-
chants had to buy on credit, and sell on
credit This year most of them will be
able to buy for cash, and probably sell for
cash. They naturally have less difficulty
in collecting debts than when the crops
were short and the people sunk in poverty
During the coming nine months, the South
will probably be the best customer in the
Northern market She has almost entirely
recovered from the prostration of industry
and of spirit which prevailed on all sides
four years ago, and is rapidly regaining
her old position as the chief producing Sec
ton of the country Metropolitan Record.