The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-07-21


men, seconded by the tendency OF country GUS
toners to buy less and more safely.
Thus several Of the unhealthy tendencies
pointed out in the annual review OF trade and
finauce last January have be n corrected. and
wholesomeiv go, and the spring closes with
better prospects for the fall season than has
been the case for four years. What Septem-
ber-when the bees of business come swarm
ing into their hives again after the summer
hegira-may bring forth. remains to be seen;
but the testimony OF leading men In the trade
ia unanimous. The prospect was never better
for vigorous, brisk and healthy resumption OF
trade. During the year Eastern manufactur,
ers have had an opportunity to temperate ana
establish themselves upon seunder and more
normal basis, in which respect the year has
borne good fruit, and the testimony now is
that the supply is little, If any, in excess OF the
normal demand. That manufacturers every
where. having learned wholesome lessor
from the fluctuations Of Lhe past, will curb
themselves within the limits OF just supply,
ia altogether pro oabl7. The past four years
have fallen too heavily upon New ENGLAND for
the proyerblalIy money making Yankee not to
take heed and obey the manifest laws OF COM
Ths prospect of the crop for che coming
season is reported fiattering from Ill quarters,
and especially from the South, where the past
year has wrought very consideraoie met =
morphosis. Wholesalers and jobbers testify
that, generally speaking, the Southern trade is
shiftine Lack into the hands Of old time
Southern customers, and TESTIFY TO the fact
with kindly appreciation Of the honorable
dealing Of old customers. The foreman OF 9
leading wholesale house in this city remarked
that losses for the past four years to the New
York market have been mostly At the hands
Of the class aptly dubbed carpet-osggers,I,
men who, leaving unliquidated board bills
a. The North. went South without either CAPT.
tai, morals or manners, to recuperate, II pos
slble, their deservedly waning fortunes: Nine
tentbs OF the Southern failures ln trade book
ed during tue peace period have been at the
hands Of this class OF spectators, who,
being irresponsible when they enigrated'
It NAV be added that this is the general
testimony OF leading men in the New York
trade. and That to- lay the credit Of the native
Soutberner. other things beng equal, ls bet
ter in the New York market than that OF the
carpct-bae exotic. Again, as general rule,
it is stated that antl-war obligations have
been lquidated with the utmost readiness by
the old time Southern commercial class, ana
this has been productive OF an exceedingly
friendly feeling on the part OF Northern deal
er., An eminen1 gentleman In the trade, who
did heavy Southern business before the war,
estimates that more than seventy per cent. OF
tie old liability has been honorably arranged.
In some of the Southern States very lew Claims
remain unsettled; wnle in others. owing to
the unsettled state Of politics, the payment has
been very spasmodic. Virginia, Alabama, the
CsroI,nas and the cotton-produclng sections in
general have very nearly erased the old score.
aud the prospect is that the whole South will
enter the market. quite on the square next
spring. These are, of course, facts for the
conQratulatlon Of all parties. South as well as
North; and the kindly feeling which has thereby
been engendered on the part OF Northern cred
itors toward the lste Southern debtor cannot
merciaI euerillas Of the South have been most
Iy uprooted, and business men IN the city
speak OF the fact with most evident satlsfsc-
The Southern trader may this fall come into
the New York market with all the privileges OF
the Northern customer as to time. terms and
the llke-vix: ten to thirty daye on domestlc
fabr.cs and three to four months on imported.
This metamorphosis bas been mostly wrought
from Southern trade, the resumption OF busl
ness by old time BUYERS in the New York mar
ket and the prevailing disposition to arrange
old claims bonorably and amicably. A dlspo-
sltion to buy sparlngly has not been without lts
effect in the rehabilitation Of Southern credit,
but the main causes have been toe tnree pre-
cedinQ enumerated; in fact, IN the way OF liqul-
daton Of toffner liabilities, the South has, 1t is
generally testified, done more than could nat
urally have been expected in so short time
and with resources 30 cnppled by the gradual
confiscation Of long and desperate war.
With this feeling in the ascendant, the sup
port Of the New York market has been almost
universally extended to the conservative move
ment 10 the South, and this produced the gene
raj anxiety for its success manifested by COM
mercial classes Virginia redeemed. disen-
thraIled, rehabilitated upon normal basis,
the success OF similar policy in the remain
i, z States Of the South is regarded, with the
administration to foster and support, as only q
ouestion Of time; and then, again. at New
York, as the great commerclal mart, King
Spindle, Of New ENGLAND, will shake hands
With reinstated King Cotton, King Business