Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-09-27
EUROPEAN CAPITAL.
Opportunities for Its Profitable In
vestment in the South.

vestment in the South.
New York Bulletin, Sept. "a.
Uninvitirg as most of the Southern
States may appear, in their present in
felicitous condition, as desirable fields
for the investment of European capt.
tai, it is worthy of remark that they
are not without powerful and intelli-
gent advocates, and IN quarters too
where that advocacy is likely ''to do
most good" Frdser's Magazine has
lately been publishing a series of papers
on the resources and capabilities of
that part of our country since the close
of the war, from the pen of writer
who is represented to have been at par
ticular pains to make himself acquaint-
ed with the actual situation, without
prejudice or bias of any kind. The re-
suit of his labors, in this form, is well
calculated to produce favorable i'm
preston upon the minds of the British
capitalist class, who are always ON the
alert for opportunities for safe
and profitable investments. This
writer does not hesitate to
express the opinion that Northern and
Eastern journals are accustomed from
habit to portray the condition Of these
States In more sombre colors than the
actAal truth will warrant. And this
is one reason, he thinks, why European
emigration seeks Canada and the
Northern States, which have fel er at
fractions, and also why English capt.
tai is averse to investing in industrial
enterprises, to any considerable extent,
south of the James river. He thinks
the time has come to deal with facts as
they are. And one of these facts is,
that ''there is actually more money
made and kept in the Southern coun-
try to-day than in the time of its affiu-
ent prosperity" Their people have
learned in the bitter school of expe-
rience not only to economic, but even
to hoard money, especially gold,
having lost confidence in paper; in
proof of which, when cash is called for,
with the prospect of large returns, to
be invested In new manufacturing in
dustries, it is forthcoming on the
spot, and very often in gold. This,
We are informed. has been the
case notably in Georgia, and especially
at Columbus, and elsewhere in the
States of Texas, Kentucky and Ten
nessee. The writer likewise dwells
upon the rapid appreciation of real
property, especially in Georgia, where
the valuation berg less than S14S,-
100000 in 1866, had risen in 1872 to
S2l4,O00,000. Many other instances Of
ike character are mentioned to sup
port the conclusion that ga better op-
portunity for safe and profitable in
vestment by capitalists in these States
than nov offers was never presented IN
the wide world before"
We do not know what impression
these convictions have made upon the
British mind, but that it will be favor
able there is scarcely a doubt. Ante
cedent circumstances were all of a
character to make some such discrim-
mating exposition of the situation Pc
cuGarly opportune. English capitalists
had Just made a venture or two In
Georgia cotton mills, and in Louisiana
propositions were pending for similar
investments in the salt mines and other
struggling industries In the South
western part of the State. The La
borers' Union had dispatched an
agent to travel through Southern
Virginia and the Carolinas, with view
to ascertain the resources of all that
region for agricultural and manufac-
turing enterprise, IN the interest of
emigration. These are but
feeble beginnings, it is true, but the
fact that there is any beginning at all
is quite as encouraging as that 1t should
be followed up, as it is now, by an in
fuential British magazine, as if with
view of stimulating additional and still
moro substantial ventures in the same
direction.
And yet it would be strange If, at a
time when the political and social sta
tus of not a few of the more promi-
nent of these States Is so uncertain
that domestic capital is chary of seek
ing investments among them, British
capitalists should be exhibiting less
esitation-strange, that is, if one did
not remember how, in the darkest peri
cd of the war, the keen-sighted Ger
mans came forward and took our bonds
when but few at home seemed to have
any confidence In their ultimate worth.
And as the wise foresight of the Ger
mans has yielded them handsome re-
turns, who knows but that the precc-
dent, in its application to industrial
may operate to like issue
upon the British mind?