Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1869-04-15
WAsH1NGroN CRY, April I, 1869. =
Facts Concerning the Financial Csndi.
ti0n OF the South.

Facts Concerning the Financial Csndi-
tton OF the south.
The following facts sas<1cerning the
financial condition Of the Ssssath are fur
nished by the rlapagersof a leading jour-
nal, published at Mobile, and are doubt
less substantially correct ..'..t,,
During the war, and while Confeder-
ate currency was abundant, the planters
entirely paid up their debts.
For the two years subsequent to the
war, but little capital was embarked in
trade il. the South, and hence but little
credit could be extended TO the planters,
and they were forced to work through,
economically, with the little specie cur
Fency they quite generally had stored
away. That they might live within
themselves, the attention of planters
was largely diEected to the growth of
breadstuffs and meats, and more corn,
wheat apd bacon were made in the
South than ever before, ..,fs
During this present year a fair crop of
cotton has been made, and generally
made with provisions and food of home
growth, SO that the planter has received
but small advances and is not now in
debt. From the high price of our staple
-cotton-more money will be .istribu-
ted in the South this year than ever be-
fore, not excepting the year of the great
crop-1S6O.
This years cotton crop will net the
planters of the South the immense sum
of two hundred and fifty million dollars.
The crop of Mobile alone will bring
not less than thirty million dollars to be
distributed from that point. -..
The entire debt of the South, abroad
and in the North and West, is less than
fifty million dollars.
The vast sum of more than two hun
dred million dollars will be loose money
in the Cotton States. -.-. -.
The restoration of political quiet, fol-
lowing the determination of the Presi-.
dental election will cause confident,
free use, circulation and expenditure of
all this currency. In the old time the
planter in the South used the gains of
each year Tin fact was generally year
ahead in debt to his factor) in the pur-
chase OF more negroes or more lands,
and hence had but little or no money
to spend for luxurles and the merchap-
disc of trade.
Now there are no negroes to buy.
The principle of small AMI well culti-
waited plantations is accepted, and no
planter wishes to buy more land.
The gains of the planter will now be
invested in the purchase of improved
farm implements, household furniture,
articles of comfort and luxury, dry
goods, clothing, books, sewing ma
chimes, pianos and other musical instru
meDts, ETC., etc. -l 90.
The trade of the South will now be an
exceedingly rich one. While the great
West is now undergoing hard times in
cideht to the low prices of breadstuffs,
the South will be prosperous in the
wealth of her staple, now bringing the
most profitible prices. r..
No part of the country to-day offers =
richer field for the enterprisfhg mer-
chant and manufacturer than the Cotton
States. aiPhese views are plain and
will present themselves with force 10
every shrewd and thinking man.
The man who seessthis condition Of
things Alright, and takes Immediate ad-
vantage by placing himself before the
people of the South with bis business
properly advertised, cannot fail to Sc
cure a lucrative trade and large returns
of profits for his expenditures. roit.lis