The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-09-01
Tho commercial Now Year.

On this the first day Of the commercial
new year, we may again glance at the
change wrought In the position of the
South since September l, 1868. Then the
Southern country had about seen the
worst. The condition Of affairs was not as
1t was year before, and, making the most
Of the little they had gained, our people
were determined to keep stout heart in
the future. This has enabled them to fight
down the dependency which would nstu-
rally be excited by practical experience
Of the follies and crimes of Radical State
administrations; and if the South to day is
hopeful and undaunted, it ia because we
rule Of ignorance and fraud cannot endure
much longer.
One striking feature Of the Southern in
dustrial situation is the opening Of North
ern eyes to the importance Of the cotton,
tobacco and sugar crops Of the South. Upon
these crops the United States mainly de
pend for the maintenance of the national
credit. The twelve cotton States alone can
| save he country from financial ruin. The
products of tho North and West are tho
same as those of Europe. and can only be
exported With profit to supply "a deficiency
In the foreign production Specie is large
ly exported to meet the interest on the Uni
Ted States debt and to pay for excessive
importations Of foreign goods; but the
minea Of California and oil the boarded
treasures Of the East and West would be
insufficient to square our accounts with Eu.
rope, were It not for the gold power of
sugar, tobacco and cotton. These products
have always specie value; they represent
so much nsrd money drawn from Southern
soil by Southern capital and labor. We do
not take into account the shipment of bonds
to Europe for sale as o souroe OF revenue.
That is nothing more than paying one debt
by creating another, a process wbtoh oan
not be indefinitely continued The time
will come when Europe will be ohary of
lending more money to the American Union.
and then, more than ever, will the North
and West be dependent on the south. @
A oompstfson OF the exports nf ths Two
sections, the North and the South, makes
the power and wealth of tho South az once
apparent. Tho exports Of the North and
West for the year ending July 1, 1870, will
probably reach $2OO 600 600. for popula.
tion Of about %. 900 .0OO. or 81 Is for each
person. For the year ending June 40,
1857, the exports. exclusive Of cotton and
It's manufacturers. were: Auimal produo
tions $32 675115, bresd-uffa $40 088 le8;
wood and It's products SIT O78 s78. mipcsl
laneous $sl .42o 1888 Total sl22 O04 9se !
Tho exports OF the twoiva oo,tuu. States for
the year ending july 1. 1870, vii osr,ainly
amount to $250. 600 ONO for a population
Of IL 600 COO or abyu' $22 "a for each in
,div'dualr HIRE wo have an export ,of
81 l6 per capita from the N ,rtn and West.
against $22 78 per capita la tho 8 nth, th,.
export Of the South being moro than three
times the export Of the North and Wost. =,
Turning TO South Carolina, NC aud that
enc holds an envinbls position, Id ono par
ticuar, at least, among her sister States
South Carolina In the year ending Jolly 1,
1870. will probably export oo.res. rios and
p'hsr products to the vslus Of $50. 600 600 !
whieh, With . population Of about .670 600.
will 1sive an,Avrrsse OF S44 78 for e.sh In.
diyidusl. whieh 10 s.x tinfs greater lhsu the
average OF the sates sutslds Of the, cotton
bolt. Isnsy, therefore, be assn Ned that.
;;this State hss ri,hin her grsatsr< eismsntS
o. trde- e-presperity than esu DO found iushs
North or West.s I'D order thai l(ifese ella