The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-01-21
SOUTHERN SECURITIES IN WALL
STREET.

The New York Herald of Monday contains
the following article on Southern securities.
IT, will b, seen that South Carolina six per
cent. bonds hold their OWL, and that they sell
at higher rates than Virgins, Tennessee and
North Carolina six per cents, and at the samo
price as Louisiana six per cents. There is, IN
truth. no State moro solvent than South Caro-
ina. The net profit on the cotton crop OF the
State this year would pay of overy d@llar OF
our debt:
Perhaps not the least interesting feature
yhich the operations IN Wal-streeS during the
past week have presented has ocen the DISK
INQUIRY exhibited for Southern State bonds and
oiior securities OF that section, coming large
" too t,om the people resident thero, reflect
inc as it does the rapid aad positive recovery
OF these State from the monetary and material
do .resslon consequent upon the late war, ana,
what ia equally gratifying in this connecnon'
tha belief of the people themselves most al
fected thereby IN such recuperatlon ana luture
prosperity 1t is clearly apparent from mlny
sources of intelligence that While hadlcal poll
tcians Of both stripes have ooon eng Igeu IN
wordy warfare respecting their 1aYorite
methods of governmental reconstruction, and
70 suit thcir differen; purposes have at various
times presented the most shocking pictures OF
lawlessness, disorganlZlton VI society, power
ty. lack Of enterprise, paralyzed energy and
wretcbedness as true illustrations OF the state
of affairs existing in the defunct confederation,
very large proportion of tho Southern people
themselves, quietly Ignoring the existence
evc,, ut such selfish Intermediates, havo been
earnestly at work in securing practical re-
construction, that would eventually eoltIun.l
these uartisan philosophers, all W TIC Silo:t
cut of o commercial AMI monetary association
with one another and with the NORTH, rcltlcf
casv OF solution, as Simply logical III their H.
yolopmont, all problems an cling tIar c1H-
dltiun or status in Il political i 'nsc. lAis HIS
been pa.tly accomplished through the asst :
lance O, Northern capital. wiGcl has D:cll
ar.~cly Invested in the l:du,t:ili III crestS OF
the South with. 50 far, NC-r gratifying results
Mr. is tie course Of speculation i'll ms uirec-
ton stopped vet; on tie contrary. I'M 1S Cf Tue
large plantations, which, OWING 10 the luaDlitY
O. tl.air Southern owlrrs 10 work thei
uroacf,y f,r want OF .ucaJS. Law; talu:she.l
Int n snail proportion or ;he crop whlcn their
cytant and c1pacty render them Capable Ot,
ar, every day pas .lug into tho hands vi NORTH
| ern canltSlis;s with both the moaus aul t.ic
intention TO apply all tic latest implements OF
| mo.lern invention to Their cultivation and luz
proven mt. The very considerable cotton
| croo this year. exceeding tic an:iclfations Ill
| du.ged III concerning il, has st.mnla'cd cnte:-
nris' All through the South. and. With it, graft
ff,ing results awakened new en"rgy III the p:o-
Die. There is no rea% on why it snoald lot be
! greatly improved upon next year, anI before
the close Of General Grants administration
wo may confidently look for rs large a
production OF the staple from tree labor
and modern machinery as ia the most
bountirai year Of tic o'd reg me-; indeed,
with these better appliances 10 ll,e cu'tlfa loa
| of the soil, far exceeding It. There Is no surcr
test of the fait!l that is in a!y man t.lan ills
willingness 10 risk his money up3n the correct
ness Of lis opinions; and thus whea W, find AZ,
actlYe IeaaId sprnos up aft ! period oi
ul.aess for these securities, %alcE have theiI