Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1878-12-27
The Commercial south.

les of inquiries throughout the South, rela-
tive to the present financial and commercial
conditions there, covering substantially the
following points Has the condition of the
country improved? Have the farmers and
planters made more money this year than
three years ago? Have movements of crops
been larger and more active? Is there an
improved disposition to invest in business
| generally? Is there n marked improvement
in local trade? Is confidence returning, and
| is there more money in circulation than in
the two preceding years? From Virginia
there came negative answers to nearly all
these questions, the exceptions being in ia
vor of returning confidence and more
healthy condition financially. The tobacco
interest in that State has been crippled and
tremendously curtailed, the grain trade is
weakened better banking facilities are want
ed. But there is a universal belief there that
''hard pan" has been reached. Purchases are
made with unusual care and judgment, and
payments are prompt. Besides there is
good evidence that the State is feeling the in
vigorating influence of sound money, legti-
mate business and honest living. In North
OhAOllAd Alt II llAltn llNlNhNN a Nho'g hlANN-
ed condition of the planters and farmers, the
whole system of farming having been revo-
lutionized in this State since the war. For
merly money crops" of cotton or tobacco
were chiefly cultivated, and home necessities
were bought in the centres, whereas now
these conditions are reversed. Money is
easy there, and the cash system prevails.
The cotton crop the present year is good
but not large one Confidence is being rap
idly restored especially to capital In South
Carolina nearly all prospects are improved.
The year closing has proved n successful one
to farmers and planters, and people general
ly are hard at work. There is II lack of cap
ital in this State for investment, and better
banking facilities are needed. marked i'm
provcment in local trade is IA matter of gen
eral notice. The grain and domestic crops
show large increase over former years The
cotton crop is discouragement ON account
of the decline in prices, but the good result
follows of urging farmers to better use of
their lands. Business failures have occurred
in great numbers during the past year, but
dealers are commencing again on a cash ba-
sis, and in all directions confidence is surely
returning. In Georgia, Alabama and Flori-
da there has been great progress, especially
in the aforementioned State which has ad-
vnnccd far beyond any other Southern State
in all material interests. The three are bet
ter of to-day than at any other time since the
war. There are increased dealings in all bus
mess enterprises and they are based upon
II system of cash payments. The negroes are
hard at work. The farming and planting in
terests in Georgia have as in other parts of
the South, been revolutOni2cd, and now
there is less of special crops, and more diver
sity than ever before The legislature re-
pealed the lien law, by which a farmer could
mortgage his crop, and thus destroyed the
credit system. Splendid results have accrued.
The State is opening new railroads, invest
ing this year $j0O,OO in cotton factories,
purchasing expensive ocean steamers, and
developing her resources on every hand The
negroes of the State were assessed this year
for upward of six million dollars worth of
property. There is a cheerful and hopeful
outlook i'll all departments throughout the
State. In Tennessee low prices for produce
have ruled but the condition of farmers has
been improved notwithstanding There is
steady growth in immigration from other
States, and a general disposition to invest in
farms. Farming generally is carried on in
more thorough and careful manner. Conf
dence is returning; there is an increase in To-
cal trade there is more money stirring
among the people, and prospects for next
year are considered very encouraging In
Louisiana there is a marked improvement in
the condition of the people, contrasted with
two and three years ago. Distressing effects
accompanied and follow the yellow fever
scourge, which delayed the movement of
crops and all BUSINESS enterprises There is
great want of capital in the State, though
there is manifested an increased disposition
TO invest in farms and general business. Con-
siderable has been done in the past two years
in the establishment of manufacturing, and
more viii be effected in the next two years.
There are now six cotton seed oil manufac-
tories in New Orleans, representing capital
of S12, 10000 There is an increased de-
mand for cotton gins and other machinery
1t is noticed that there is more money in the
State than during last year, but it has not yet
been distributed among the people, as will be
the case when the crops are all harvested.
There is a better confidence already estab-
lished, aud the business outlook is considered
encouraging. Throughout the South there
exists, according to these reports, a more
healthy condition, financially, than has OBJ
tanned for many years, and the future looks
bright and full of hope.