The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1879-02-06

Journal "gives some of the reasons why
Northern capitalists do not start manu-
factures in the South. They have read
the wild stories of the correspondents of
such newspapers as the New York Times
and Tribune, until they believe that there
is no settled government in the South.
Besides this, they fear that the public
debt will be repudiated, and that their
property will not be worth anything for
any length of time.'" Our contempo-
rary says as to the first point, 'the South
will live it down." and then concludes ::
cit is the reputation talk that does the
real harm. Louisiana and South Caro-
lima could have commanded capital with
out limit, had the Democratic govern
ments continued 10 pay the interest on
their debt. AS it is, the man who has
money to lend shuns the South, and a
wreck of public and private credit is
threatened. Purely as a matter of busi-
ness, it was wiser to pay than to fight"
This is all mere assertion, without the
slightest foundation. To begin with,
there is no talk of repudiation in South
Carolina, and every dollar which the
State honestly owes will be admitted by
all, and provision made for its payment.
If South Carolina has the finger of scorn
pointed at her as repudiationist, it will
be because her daily papers have not
presented to the world full and candid
statement Of the financial question, and
have themselves raised the cry of repu-
diation, in order to secure the payment
of a portion of the pretended debt which
they admit was created in fraud and cor
ruption, without any benefit to the State
or her people. If it is reputation to
sift the valid debt from that which is
fraudulent, then there is a population
party in the State, but not otherwise. A
majority of the members of the Legisla-
ture which created the fraudulent por-
tion of the debt, and q majority of the
Legislature which passed the Consolida-
ton Act, have been proven to have ac-
cepted bribes, and the Secretary of State,
Cardozo, afterwards Treasurer, who issued
these bonds and exchanged them, is
convicted of corruption in Office, and
under sentence of imprisonment for his
official crimes, while Chamberlain, Kimp-
ton, and his other associates in the work,
are fugitives from justice. If, therefore,
it is reputation to eliminate the fraud
from the settlement made by such rascals
as these, then there is a reputation party
in this State, but not otherwise. Therefore,
if the charge of reputation is made
against South Carolina, it is SO utterly
unsupported by the facts that it will be
a very easy matter for us TO huc IL do'on
also. But the views advanced by the
Nc,cs and Courier are at variance with
the facts for another reason, which is
that the financial condition of the State
has, up to this time, had very little to do
with the location of manufactures in
the South. Georgia has repudiated eight
million dollars that was as strong an OBJ
legation as any portion of our debt which
was created by the Radicals, and yet her
credit to-day is in most healthy condi-
ton, and her bonds are considered an
excellent investment. Despite this
financial prosperity of the State of
Georgia, she has no more cotton manu-
factories to-day in proportion to area or
population than South Carolina has.
The true reason that factories have not
been built up more rapidly in our midst
is that Northern capital has not become
fully satisfied that the party of intelli-
gence and patriotism will continue in
possession of our State governments.
Very little will be done in the direction
of building up manufactures anywhere
now until after the next Presidential
election, and then if our own people do
not stab the reputation of our State by
charging wholesale reputation, when
they know there is no such intention, the
State of South Carolina will no doubt
gain as much by immigration as any of
her Southern sisters.
Since the rendition of the decision of