The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-11-20
EUROPEAN CAPITAL FOR INVEST.
MENT In THE SOUTH.

There Is u strong and growing tendency
among European capitalists to invest largely
In Southern enterprises, more especially in
cotton spinning The capitalists of Europe
have grown sick and Disguised with invest
ment In Northern and Western mines and
railroads. and they are looking for safer and
more remunerative employment of their
funds In this section of the American Union.
These are facts which have been for some
time generally known here: but we have now
q direct, positive and almost authoritative
statement of them.
Bya private note. which we have seen. from
one of the most eminent Southern men In
Congress, to an equally eminent colleague,
| 1t appears that u gentleman of great distinc-
ton. and who has held high official positions
abroad, has very fully and clearly presented
and explained this tendency of European CAP
italists, and strongly advised that a Southern
man, identified with Southern interests. be ac-
credited by the business men of the South to
visit Europe, and represent to the capitalists
there the safe and profitable opportunities
for investment here.
In connection with such q mission we have
heard the name Of Senator Gordon, of Geor-
gin, most prominently mentioned, and there
are several reasons why this gentleman should
be chosen for this mission IL 1t is created.
l. The credit of Georgia is excellent, and
her finances In healthful state. Foreign
capitalists will be largely influenced In the
confidence they put in the statements and
propositions of q representative, on such q
mission by the financial standing and repu-
tation of the State from which he goes.
q. Outside Of New England, Georgia Is the
third State in the Union In the number of her
manufactures, all of which have been ex-
tremely profitable, more 80, we believe, than
those Of New England or In fact ~ a.s.
otssts III uIie Union. Gen. Gordon could speak
to the European capitalists better, probably,
than any man outside of his State, as to the
advantages of Investment In manufactures in
the South, of the capital required, the rela-
bility and competency of the labor, and the
profits on such investments.
We dwell with emphasis upon this subject
because our informationis such that we know
that strong disposition amongst European
capitalists to invest in Southern manufactures
exists. and we believe that our business men
should strike now while the iron Is hot. The
disturbed political condition of the country:
the irresponsible and corrupt governments
with which the South has been afflicted, and
the malicious and pertinacious efforts of the
Eastern press to represent the Southern
States to the Europeans as repudationists
have combined for years to deter foreign CAPT.
tai from seeking our profitable fields of invest
ment and forced it into Northern, and it now
seems by no means profitable channels
We earnestly press this matter upon the
merchants and business men of New Orleans
especially and appeal to them without de-
lay to take the lead in this important matter
New Orleans has every requisite to become
great manufacturing city. All she requires is
capital Situated in the midst of the cane
fields Of Louisiana, all our domestic and i'm
ported sugars should be refined in her manu-
factories. At the mouth of the Mississippi
and the great cotton mart of the richest cot
ton region of the world, capital could make
her the greatest manufacturing city on the
continent, and one Of the richest. She has
every requisite, in short, save the capital the
Europeans desire to send her and her sister |
States and which they will send when thew
are made fully acquainted with the situation |