The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-01-16

uOfotiuS OcPcOioi u1sCueAoa W % oouoiVSi q
ton of the resources of the Southern States
and they, without exception, prophecy 70
the South brilliantly prosperous .,ature
The arguments which, during the last fev
years, we have so frequently used, appa
rently without avail, are now admitted t.
be pregnant with truth, and the fact i
recognized that there is no lasting success
for the North and West if the South be no
crowned with good fortune. The crops o
the South are the main reliance of the mer
chants and fnanciers of the North. TIL
gold for which this produce sells is tn
basis of the trade of the whole Union. Ii
this regard, it is of more value than th
grain of the Northwest and the preciou
metals of the Pacific States. Without cot
ton as means Of maintaining the equi
librium of international commerce, green
backs would depreciate with startling rap
idity, and this American republic woult
stand on the threshold of financial ruin.
1t is not surprising, then, that the New
York Wc-ld should write as follows:
The Southern: States are the immediate pro
peling power towards s general prosperity
throughout the whole United States. Money il
becoming dea er IL Now York, the money centre
of this continent, because the Southern States
require more OF it for the legitimate purpose o
handling their Increased crops.
Europe has been draining the nation of it's
accumulated surplus by its manu.: ctured pro-
ducts, in exchange for fve-twenty bonds ut II
cents Oh the dollar, to be paid hereafter at 100
and now the South is going to drain Europe by
it's cotton at high price. Stock spectators in
Wal.-street may grumble at this scarce or ''dear
money" owing to increased activity in COM
merce; but thoughtful men will be gladdened
thereby, as evidence that our wealth-making
machines are once more in active motion This
years Southern crops will add 10 tne national
wealth, not $500, 900 900 more IT greenback DOL
lars worth 70 cents from the government print
ing presses at Washington, but $500, ,000,l00
more in dollars worth 100 cents in cotton, to-
bacco, sugar aud other L-o1ucts, for which
Europe contends with America as buyer on
Southern soil.
This year, one wec'::'s cCLCon receipts, say
SO, 600 bales. at twenty-yir.G cents, lroduce
about 50. .625 500, whilst th, same quantity last
SGtI, huou luo pllCO WAS CEig OtulCCn CCAtS,
realized ST, ,859, 900, showing gain to the South
this year OF over 60 per cent. above the price
realized last year.
The civilized world is thus pouring into the
South about $4, ,000, 900 q week more this year
than last for the pro lucion of cotton alone.
Furthermore, the cotton crop Of last season was
,431 900 bales. This season the most careful es-
Inmates range t-om 2,5O0 900 to 2,700, 900 bales.
The average price Of last year, say eighteen
cents per pound, made the aggregate amount
of the whole crop about $195, 900, ,000. THIS
year, assuming the higher estimate, 2,700,000
bales, at twenty-three cents, will realize about
$3.50, 900, 900. In other words, the South will
realize for its cotton crop this year $685. 000 900
more in s'very hard cash" than it did last year.
The Baltimore Sun, also, has faith un-
bounded in the energy and industry Of the
South, and after saying that the planters
now receive the total value of their crops,
with little more than the expense of the
wages they pay their laborers to be de-
Quoted from it, makes this CHEEKY state
ment:
Besides the cotton Of the South is its tobac-
CO, unrivalled in the markets of the world, and
IIS 6uSdI. MulCu 1oQ W UCCOu40 u
great source Of wealth. This year the crop
of Louisiana is estimated at 125, 900 hogs
heads Of sugar and 20 600 barrels of molasses,
worth at current prices over $50, 900, ,000 against
SO, 600 hoSsheads Ct sugar last year and the
same proportion Of molasses, or in round fig
ures, total of not ore-third Of the production
OF this season. Next year, it ls considered
within bounds to say that $50 600 hogsheads of
sugar will be prouuccd, because the planters
IT, ,c,o fosy, Ior
ton OF their cane for see1. In some instances
tho entlo crop Of plantations has been re-
served for this purpose. The etfecs OF ell this
appears to be making itself manifest in the ad-
vanciug prices of real estate and Of State and
municipal securities, especially in Now Orleaus.
All this is Tho result OK private and Southern
enterprise, without and against government hid
and influence. 1t is another Illustration, on n
grand scale. OF the truth OF what Macaulay
says in the following observations sNo ordi-
nary misfortune, no ordinary miso oovernmont
will do as much to make nation wrctched as
the constant progress OF physical knowledge
and the constant effort uf every man to better
hlmselfwill do to make L nation prosperous. It
hes often been found thai profuse expenditure,
heavy taxation, absurd commercial restrictions,
corrupt tribunals disastrous YLrs, sCditlons,
conhagrations, inuudatlols, have
not been able to destroy capital so fast as the
exertions of private citizens have been able
to create it. II can easily be found that
in our own land England tho national
wealth has, during tho last SIX centuries, been
almost uninteTuptedly increasing; that it was
greater under the Tudors than under the Plan
that it was greater under the S.uarts
than under the Tudors; That, in spite of ba.tlos,
sieges and confscatiors, it was greater on the
day of tho Restoration than on the day when
the Long Parliament met; that. in spite OF mai
of extravaganza, ofpublicbank-
ruptcy, OF two costly and unsuccessful wars, OF
the day of the death of Charles the Second than
on the day Of his restoration" In like manner,
only upon wider arena, the vast recuperatrve
powers of tho South are overcoming the ray-
ages of war and bad government. and bid fair
to be tho main reliance IN rescuing even the
power which he's sought to crush it, from TIE
financial difficulties under which it ls stagger-
ing.
The New York Times goes further still,
and suggests that the Southern tortoise may
outstrip the Northern hare. 1t says:
In the race for solid wealth, it seems not i'm
probable that the South may. after all, pass
the North. The former is, in several respects,
better fitted for the trial. It has graduated in
the school Of advcrsitY, and vome out spare
indeed, in flesh, but with wind, and nerve, and
muscle in capital trim. The North, on the
contrary, has revelled in the delights of dssi-
patton, and shows all the signs OF reyelry and
sumptuous living. II is sleek and fiucly clad
but with nerves unstrung, and predisposed to
short breathing.
The Southern planter was rrecipitated
roughly to the bottom. He lost everything
The labor he had relied upon was taken from
him. The comfort in which b, bad been
reared suddenly vanished. He suffered the
panss Of poverty and despair. Compelled to