The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-08-14
COLUMBIA, S. G.
Thursday Morning, August IA. 1878;
Poverty vi the south.

tive account OF the value of property in
the South, compiled from the census Of
1870. There is also comparison made
between the figures Of. 1860 and 1870,
which has startled even the North.
Many Northern and Western papers
have published summary of these
facts, and all, without exception, are
astonished Of tho magnitude OF our dis
aster. We are glad to see. too, that the
true cause Of Southern decline in wealth
is fastened upon the right responsibility
It is now seen that reconstruction has
ruined us, and that great national
crime has been committed which years
of reparation will hardly wipe away.
The thinking men of the country be-
yond us are beginning to understand
that continuance of the policy now
sapping the foundation OF our industry
will eventually rebound upon the East
and West They are finding out why
they have not got cheap government;
Why public and private faith has gone
to the dogs; and why liberty is being
e1tinguished everywhere. The follow
ing condensation of the Tri6unes arti-
Gle will prove interesting to every reader.
The problem still remains as to how
long we can stand this depletion; and it
seems TINT our unrelenting foe is begin
ming to calculate how long he can stand
it also:
''The comparison with the values of
1860, as shown by the census of that
year, makes startling showing Of the
impoyerishment of the South within
the last decade. Reducing the values
for both periods to gold basis, and de-.
Quoting $4,000. 600, 900 for the slaves of
1860, (which is at the valuation of $500
each, the value Of property in thirteen
Eouthern States. excluding Delaware,
Maryland and Missouri, was So, $685., :
900. 629 in 1860, and in 1870, 50, 762, :
263, 429, or an actual loss in ten years Of
80 per cent. of the value OF all property.
In the three States, the valuation for
1870 was "a per cent. greater for Della.
ware, Sc per cent greater for Maryland.
and 134 per cent. greater for Missouri
than that Of 1860. Counting the gain
in these States. the actual loss for all the
Southern States during ten years was
81 per cent. OF the valuation OF 1860.
Estimating the value Of greenbaoks fox
1870 at 81 cents, the depreciation OF the
property in the former slave holding
States, excluding the loss Of the slaves,
was S413, 900, 900. or about $50 in gold
for every man. woman and child, white
and black. now living in those States.
Excluding the three States, which show
large gains. the loss OF the other thir-
teen States in ten years was 81, ,231 900,
900 in gold. or 21O9 in gold for every
man, woman and child. If We add to
this the estimated value of the slave
property, fhich yes the largest aud
most profitable the people possessed,
the depreciation amounts to %, $780,
10000. or S287 in gold for each per-
son. In other words, the value of pro-
perty in the Southern States is not to-
day more than one-half what it was
thirteen years ago.
''Examiring the property in detail has
led to the same result. The value OF the
farms in tho Southern States. as shown
by the census reports, was less in cur
rency in 1870 than it was in gold in
1860. by more than S750,000 The loss
on furm lands in thirteen of the States,
on gold basis, was Sl,092, 773. 161, OF
greater than the entire value that re-
mains. During the ten years intel ven.
ing, $3.50 miles Of railroad were con-
struoted, at a cost of 500, 600, 900,
which should have added proportionate-
ly to the value Of farm land. But, in
spite OF this investment, the farm lands
of the South are not worth to-day one.
half of what they were worth in 1860,
though the building OF railroads in the
country at large, during the same time,
has increased the value of farms three
fold. The shrinkage in the value of
farms pei. acre confirms this estimate.
In West Virginia md Virginia, it was
$3.50, or 20 per cent; in Tennessee,
10, or 80 per cont. in Floridn, g. %,
or 90 per cent; III North Carolina,
S2 81, or AZ per cent; in Arkansas,
S5.32. or 56 per cent; in Louisiana,
Sl3. %. or GO per cent; in South Caro-.
lima, 50. 63, or 66 per cent; and SO on.
The depreciation in the valuation OF
farm implements in the Same time was
from ss9. $4,000, in gold. in 1850, to
700 ESQ, in currency, in 1870, or o
loss OF more than one-half. The de.
crease III the value Of stocks and crops
that were raised in 1860 and 1870 was in
the same proportion.
"The figures, though sufficiently
startling in themselves, do not represent
11- t<.