The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-12-09
OUR FUTURE.
English Investments in the South
Rrom the New York Bnlletln.l


That the South will ultimately absorb large
part OF the cotton manufacturing interests is con-
clusivey proved by the present state affairs. or
the mills Of New England, many OF them are now
closed; others are running on short time; While
not one single corporation In the North, SO far as
we know, is working up to its maximum prodac-
ton. The cause OF this semi-prostration In one OF
our most important interests Is plainly to be seen
In the dlmished wants Of the people at high prices
the falling on in the amount OF EXPORTS and con-
sequently, the little, or In most cases, no
margin afforded in selling the goods at cur:
rent rates. The cost OF producing a yard OF
cotton standard sheeting In Massachusetts anu
In Georgia exhibits difference OF fully twenty
per cent. and over. This Is accounted for In Vari-
Gus ways: The slight difference In cost OF the raw
material; the frelghting expenses, which OF
course, in Georgia, are done away wish, the less
expense OF labor in handling &C., are few or
most important. The result is that every North
ern manufacturer Is complaining that present
rates do not even afford interest on the capital
invested in property, machinery, DC. Besides,
the Northern water-power5 are all ABSORBED oy
monied corporations, which, OF course, to beneht
their stockholders are forced to levy and collect
as much as possible for rents, while the dense
population OF the North renders every foot OF
ground adjacent to these water-courseS valuable
for dwelling and business purposes. Thus the
mill owner is obliged to contract his limits
for manipulating the articles fabricated to
the smallest space possible, or else absorb
more space at q comparatively high price,
which the prospective profits do not war
rant. In the South these Water.powers are alto
gether more numerous, and, from the extent OF
the majority OF them, capable OF exertlng more
power than those OF the North, while the prices az
which eligible lands and sites are now offered,
compared to those OF the North, are decidedly
low. English capitalists are therefore awaking
to the exceilency OF the neld thus onered Tor In
yestment, and many OF their agents are at tnis
moment In the South prospecting, Whine their
MURDERS are augmented by almost every steamer.
n ACsoriQtiOnO
Bne land, came to the conclusion thls summer
that Indla's production OF the staple had reached
its maximum, unless efforts wer, made TO I'M
prove the condition OF the land. "ln that pen
insula Indla) there was an abundant neld Tor cul'
tiyation, and a cheap labor market. Before the
AGRICULTURAL condition OF India would reach the
desired position great improvements were neces-
sary. Those Improvements, considering the vast
area Of the country, and the want OF means OF
communication, could not be effected by private
enterprise alone. The government was paternal,
and to 1t they must look for assistance" Reso-
iutions were adopted petltloning the government
for some assistance, which so lar nave Deen VI
little avail The non-success or their projects,
and the satisfactory accounts received as 10 the
condition OF the South, turned their attention 10
this new field Of investment open TO them, Wnere
private enterprises could be most ehectually ana
successfully employed. The consequence was tne
dispatchlng OF an agent to Inquire into and re-
port full particulars regarding the production ana
manufacture OF cotton In the Southern states:
The gentleman filling this position bas arrived
here, has visited the South, and is probably ere
this on his way back to report his experiences,
which we are rather anxious to know, as pending
this action OF the association number OF English
capitalists stand ready TO pour their wealcn lnto
the South, which must largely contribute to It's
prosperity and advancement. That the benefits
to accrue from such investments are immense, IS
beyond question, and we regret exceedingly that
this should be made by foreigners, While large
amounts OF unemployed capital ut the North
should be allowed TO remain idle.