The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1879-01-23
BUSINESS IN THE SOUTH.
The Outlook for Is79-A Gratifying show

from observers in all the southern states,
showing the commercial and fEsncisl con.
dition of this section. The outlook, as pic
tured by these correspondents, is most
g gratifying. Virginia is the only southern
state that reports no improvement over
last year, snd even there is a feeling o.
confidence springiDg up which will have
a visible effect on next years business.
The tax on tobacco is cited as the cauce
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 l. is claimed that the
people demand a return to tie old state
banking system that they may be enabidi
to get loans on real estate. The natiOnsl
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
sean their present unhappy condition
closely they would probably find that
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 determination
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
TeVolutiOGized 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. Ali their supplies
including corn. bacon and wheat, were
purchased. Now they raise their own
supplies, and even q surplus for sale out
side the State. The old.fashiOned plan
tafions 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 capital 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 arenot so full, but the Improvements
noted in North Carolina are also visible
in this State. There is less croakiDg
about hard times than any year since the
panic, and collections are comparatively
easy. The most cheering feature of the
report is the growing tendency mani
tested toward diversity of crops.
The best reports come from GeOrgis'
Alabama and Florida. In all these state:
the improvement has been rapid. In
! Georgia, especially, planters and mer,
chants have done remarkably well dur,
ing the year. 1t is true that cotton il
cheaper than ever before, but st the
same time it brings a larger return in al
the necessaries 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 tIansporta
ton. The merchants are doing large
business and on a safer basis than since
the war. A steamship line plying be
tween Savannah and New York ha
brought four first class vessels, costing
81 ,000, 900, during the year, and new
line of steamers has been put on between
Savannah and Cuba. A number of i'm
p0rtant branch railways are approaching
completion. Within the year $5OO,OOt
has been invested in Gotten machinery
The progress made is due to a numbe
of causes, not the least of which is tn
improvement made in their system @
farming by the planters. Smaller farms
more cultivation and a greater diversit,
OF crops have wrought great change
In former times the planters only raise
, cotton. They mortgaged the GROWN
crops to their factors to buy the nece,
saries and luxuTies OF lie. This Eer
them poor always. The repeal of tn
Z lien laws permitting q farmer 10 nor
gage his growing crop put an end to tn
part of the ruinous credit system, an
5 the good effect is airesdy visible. Ii
negroes are fast acquiring small farm
! and are developing IN amount Of iudu
try and thrift that is quite astoaishin
10 their former mssters a large nun
Der OF northern farmers have settled
he state since the war, and their sup
rior methods OF tanning ere beir- {. pis
RAPIDLY. What is TIE Of Gsoreia
: also true OF Alabama and Florida. but
> lesser degree. II Louisiana the cot5.
d crop is good, sud the sugar crop larg
D 5ut money Is very scarce yet. The bias
q ness of manufacturing coJtou-seed O
A.. aud oil-cake Is developing rapidly. VIII
f. IS vented now is better facilities /,
i commerce with Mexico sndSouth Anne
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