The morning star and Catholic messenger. [volume] (New Orleans [La.]) 1868-1881, 1874-10-11
European Capital for tho soutA.


The subjoined article from the New York
Bulletin, of the gath, is suggestive. 1,
would appear that while eur so. called
brethren at the North are working for oul
destruction and degradation, British CAPT
talists are casting friendly eyes in this
direction.
Uninviting as moot of the Southern
states may appear, In their present infelic-
itons condition, as desirable fields for the
Investment of Europeans, it is worthy OF
remark that they are not without powerful
and intelligent advocates, and in quarters,
too, where that advocacy is likely to do
much good. Fraser's Magazine has lately
been publishing series of papers on the
resources and capabilities of that part of
our country since the close of the war.
from the pen of q writer who is represented
to have been at particular pains to make
himself acquainted with the actual situa.
ton, without prejudice or bias of any kind.
The result of his fabors, in this form, is
we'll calculated to produce favorable i'm
presaion upon the minds of the British cap
ltafist ciass, who are always on the alert
for opportunities for safe and profitable in
vestments. This writer does not hesitate
70 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 &C.
tual truth will warrant. And this ia one
reason, he thinks, why European emigra
ton seeks Canada and the Northern States,
which have fewer attractions, and also why
Eoglish capital is aveIse to investing in
industrial enterprises, to any considerable
extents south of the James river. He thinks
the time has come to deal with facts az
they are. And one of these facts is, that
there ls more money made and kept in the
Southern country to- day than in the time
of its aff1uent prosperity" Their people
have learned in the bitter school expe-
rience not only to economize, but even to
hoard money, especially gold, having lost
confidence in paper; in proof of which,
when cash is called for, with the prospect
ufacturing Industries, 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 Tennessee. The writer likewise dwells
upon the rapid appreciation of real prop
erty, especially in Georgia, where the val
nation being less than $14s 600 600 in 1866,
had risen in 1872 to $2l4,000, 600. Many
other instances of q like character are men
toned to support the conclusion that /"
better opportunity for safe aud profitable
investment by capitalists in these States
than now 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 favorable there is |
doubt. Antecedent circum-
stances were all of a character to make
some such discriminating exposition of the
situation peculiarly opportune. English
capitalists had just made venture or two |
n Georgia cotton mills. and in Louisiana
were pending for similar in
Testments in the salt mines and other
struggling industries in the Southwestern
BART of the State. The Laborers' Union
lad dispatched an agent to travel through |
southern Virginia and the Carolinas. with
view to ascertain the resources of all that
egion for agricultural and manufacturing
in the interest of English emil
ration. These are but feeble beginnings,
lie true, but the fact that there is any be |
inning at all is quite as encouraging "a
hat it should be followed up, as it is now,
y an Influential British magazine, as If |
With view of stimulating additional and |
till more substantial ventures in the same !
Erection.
And yet it would be strange if at a time |
Vhen the political and social status of not
few of the more prominent OF these
tates is SO uncertain, that domestic capt.
al is chary of seeking Investments among |
hem, British capitalists should be exhib-
ting less observation-disclosures, that is, if |
ne did not remember how, in the darkest
eriod of the war, the keen sighted Ger.
nans came forward and teok our bonds
Vhen but few at home seemed to have any
opfidence in their ultimate worth. And as
he wise foresight of the Germans has
ielded them handsome returns, who knows
ut that the precedent. in it's application to
ndustrial enterprise, may operate to q like
ssue upon the British mind!
The Rector Maguifcus of the Catholic Uni
ersity, at a recent distribution of prizes at q
chool at Louvaiu, delivered an address in
Thieh he strongly insisted the difference
etween education and instruction. The lat.
ia said too off H. |