The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1879-03-08
BUSINESS In THE SOUTH.
The Outlook for Isze-A Gratifying show
tng.

The New York Herald publishes letters
from observers in all the southern states,
showing the commercial and financial con.
dition of this section. The outlook, as pic
tured by these correspondents, is most
gratifying. Virginia Is the only southern
state that reports no improvement over
last year, and even there is a feeling OF
confidence springing up which will have
visible effect on next years business.
The tax on tobacco is cited as the cause
of the continued depression in the old
dominion. 1t has apparently driven the
manufacture of that article out of the
state, and has flooded the markets with
the low grades of leaf (which bring no
adequate return to the producer, and are
OF little value to manufacturers. The
scarcity of capital is given as another
cause for the continuance of dull times
In Virginia, and it is claimed that the
people demand return to tine old state
banking system that they may be enabled
to get loans on real estate. The national
banks are prohibited from loaning money
on real estate, because all human ex~
perience has shown the folly of that kind
OF banking. If the Virginians would
scan their present unhappy condition
closely they would probably find that a
powerful cause fer the destruction of
credit in their state lies in their mean
attempts to repudiate their just debts.
If they showed an honest dissemination
to pay their bonds as soon as they are
able, they would find it easier to make
loans for business purposes.
From North Carolina the news is very
hopeful. The planters and farmers have
worked their way out of debt generally,
and they look forward with bright anti
cipatiuns to the near future. The whole
system of farming in the State has been
revolutiorizsd since the close of the war,
and the blessings Of the change are now
becoming apparent. In the old slave
days the planter only thought of raising
money crops. Cotton and tobacco were
their great staples. All their supplies,
including corn. bacon and wheat, were
purchased. Now they raise their own
supplies, and even surplus for sale ont.
side the State. The old.fashioned plan
tations of from 1000 to 5000 acres have
been cut up into farms of from 100 to
500 acres. There is less complaint Of
want Of capitol in this State than In vir.
ginia. The cotton crop is large and of
excellent quality, and the preparations
making show that large increase in all
kinds of crops may be expected next
year. The statistics from South Caro-.
lima are not 80 full, but the Improvements
noted 10 North Carolina are also visible
In this State. There is less croaking
about hard times than any year since the
panic. and collections are com paratively
easy. The most cheering feature of the
report is the growing tendency mani
iested toward . diversity of crops.
The best reports come from Georgia
Alabama and Florida. In all these states
the improvement has been rapid. In
Georgia, especially, planters and mer.
chants have done remarkably we'll dur.
ing the year. 1t is true that cotton is
cheaper than ever before. but at the
same time it brings larger return In all
the necessaiies Of life. Wages are low,
but they are sufficient to supply the
needs of the working classes. Railway
stocks has steadily appreciated in value,
they showing an increase in transporta-
ton. The merchants are doing larger
business and on safer basis than since
the war. A steamship line plying be-
tween Savannah and New York has
brought four first class vessels, costing
81 0o0. 900, during the year, and new
line of steamers has been put on between
Savannah and Cuba. A number of inn
portant branch railways are approaching
completion. Within the year $5Oo, 900
has been invested in cotton machinery.
The progress made is due to sumber
of causes, not the least of which is the
improvement made in their system Of
farming by the planters. Smaller farms,
more cultivation and greater diversity
OF crops have wrought grest change.
In ,ormer times the planters only raimd
cotton. They mortgaged the growing
crops to their factors to buy the neces-
saries and Injuries Of life. This kept
them poor always. The repeal of the