The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1869-01-14
Influence of the South upon the Financial
Affairs Of the North.

The able and interesting New York
correspondent of the Augusta Chronicle
and Sentinel makes the following COM
ments upon subject in which all are
deeply interested: "'<o-'if
The South is at present playing the wild
in Wall street. In the first place, the
heavy drain of gold and greenbacks called
for by the crops has, in conjunction with
the stock gambling operations that have
been so rife oflate,. made money very tight
so much so, indeed, that what is called
'sdrug" paper, or you may, perhaps, better
understand it as "gold-edge," has, on sew
eral occasions, gone begging. The banks,
being heavily drawn on, have been under
a pressure to meet their statements in good
form, and so, with the banks tight and the
best paper very heavy, you can judge at
least one branch of the monetary excite;
mcnt the South has, Of late, creatcd-the
South being said to have caused this strin-
gency, inasmuch rs the stock gambling
operations, which have heretofore made
money tight, have. on this occasion, been
ofvery secondary Importance indeed. The
next element of;interest presented by the
South is in the nature of Investment: the
admirable opportunities there presented
becoming now pretty generally known:
and receiving wide attention. Something
very like turore prevails upon the Sub
lect; and one account puts the amount
daily going Southwark for investment,
chiefly in. land, at 100000. "A more
moderate estimate puts the sum at ST.
900 1000 per week, but the probabilities
are that the one is rs mach too low as the
other is too high, and that the weekly out
60 in this direction is about million and
Il quarter. Real estate is the object chiet
ly sought but railroads arc also receiving
attention, and some are even disposed to
take the risk of putting their money in
reconstructed bonds. 1t is stated, and l
think with considerable justice, that those
going or sending South to invest are very
much moro anxious to buy than they are
willing to have appear, and that it is
quite likely they will try to purchase at
1866 prices, when, on the average, those
rates are not above onc-fourth of what
they are willing, rather than torego in
vestments to pay. This statement coming
to the writer on very good authority is
respectfully communicated TO whom 1t
may concern, with the accompanying
moral, adon't sell too low" Sprague's
reported tribute to the superior manage
ment of the Augusta Factory, which hle
is said to have stated to be the best of its
kind in this country, is going the rounds
of the Northern press and clcitlng such
a strain of comment as makes one smile
to see how exceedingly ignorant those
folks are OF the real South. 10 the average
Northern mind, the most favored region
of this continent is an alienation of cot
ton field, swamp and wild wood land. ten
anted alone by the poor, down troddcn
niggcr and q fierce and treacherous race
of White men, who swear by knife and
pistol, and hate "thc great heart of the
nation" and its gizzard, and its lungs, and
it's liver, and lights, and all other intes-
tines whatsoever with q hate that is alto
eelher disloil and "rcGcl' beyond hope.
That im this land there are noble and
beautiful cities, a sweet and tender eli
mate, deep harborS, and fine rivers, and
sublime mountains, and healthfu air. that
here is q civilization quite as old as their
own and greatly more pure; That here
history runs7bacIl in some of. the bright
est pages of that volume; she marks
i"America;" that, in one word, God has
blessed this heritage and thnt there's life
in the old land yet, are things that sell
dom enter the ordinary brainpan of the
trooly loil, whose pride is that thoy are
not as other men, sinners, but q peculiar
people and the very apple in the worlds
eye. Once in while, though, n dim
prescntment that all is not quite as Peter
Farley and Sneak Sumner and their
blood.gulty parsons tell them seems to
penetrate them, and some such shaft of
truth appears to. be operating now. All
of a sudden they have walked up to the
facts, first, that the South is not altogeth-
er given over TO fever and ague, land yellow
jack; and, second, that the Southsrner is
apt to be after all u very pleasant kind of
man, and, acting in this sudden influx of
light, are now greatly exercised on the
subject Of investment in this new found
land. TO encourage this conversion it
would be we'll for the Southern press to
taper off somewhatin politics for a while,
and give plenty of information, the more
specific the better, as to the wonderful
resources of their section Negro suffrage
and reconstruction are things that may
be called lactitious imposthumes in a
healthy skin Neither of them car last;
one good puff of wind would blow the
whole fabric of reconstruction, with eve
ry chinch that crawls within it, to the
devil, whence the whole thing sprang;
while as to negro suffrage, it is but the
sport of an idle hour, and will be laughed
out of court before heads that arc now
grav can turn from silver into snow. In
dustrial writing is the thing needed now;
full of facts, figures, thoughts, suggestion
and pregnant hint. Politics, of course, as
&c l,oro Oft