Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1879-08-21
The Great Contraction.

is not confined to tho country nor to towns
but reaches cities in every part oftho govern,
mont. Its not limited to any species Of
personel OF real property but Affects all.
The necessaries oe life command money. bul
Ino othcrspeoiss of property can except at d
l.saorillco.a 81 M
f I'VE clipped, sometime back, from tho Ne,os
aad Courierthc following statement Of tsalos
of real property in Charleston: "Thc three
story store, 1873 Meeting street, recently sold
for $4,000; three story store, 4 IIeync street,
for 5000; four story store. l3 Ilayne street,
for $1,000; two story store, 33 lInyno street,
for 5000, and the handsome four story store,
recently occupied by Crane. Boyston & Co.,
fronting on lInync, Meeting and Market
streets, erected at u cost of over $40, 900, for
$S,000 All these structures ore Of brick and
10 good order. The last mentioned building
is about two hundred feet deep. and the
others, arc pearly ono hupdred feet in dopth."
4. knowing this statementto DO true, ,we who
know the property can hardly, realize the faet,
for tho land occupied. BY tho latter building,
wo tyontu,a, once scoBt Btmandeai nearly double
the sdn, fag which, itnsold. rcIYa tbear ,of a
similar sl,rnkago in values I'M Col,imbi1, and
in'ovcry town i'll thoIState, though to "a loss
degree. In oour own town property which
cost forty-fye hundred dollars has been sold
for less than ono thousand, md all houses
and lots are worth less thnn half thoir cost.
Bread and meat aud number ono farms hold
their own better than any class Of property.
Tho shrinkago in South Carolina is greater
perhaps than in other States, and for this
several causes may be assigned, among them
tho greater scarcity Of money hers. tho heavy
taxation in somo Of our cities by reason Of a
large local dobt, and tho cHGots O. tho corrupt
government under which we liScl for ten
years and consequent exhaustion 10 those
may be cddcd tho miserable fainro OF our
State to keep progress With other States in
tho matter Of freishts and railroads An
almost irreparablc injury las been done to
Charleston by the failure Of tho com piclion OF
tho Blue Ridge Railroad, while Tho lir Line
Road crossing the upper part Of tho Ssatc and
the Charlotte, Columbia S Augusta Road
crossing the middle Of tho State, haze been
built, iiycr'ing trade and travel Nor,hward
across tho State to tho exclusion Of Charles
ten. Whatever be tho cause the i.ct is
patent that the value of property hcle has
controctcl on tho ovcrnc, MIRO ,,. Gn,
nor cont i, IL, ,,s, 81, or o;,.I, ,oo +,
fact, We can almost say property put OF The
market Mt forced sale has 30 cash value.
Will, MI ,his is trno 40 to,3,h.t ,lc.o
!, an ,L,,,l,,,o ~ - :, a., MIL
oso, !, tbo So,,hor, ,;.;o, w,,, o,;,,,
r.su't. fyon m unJno .co,,,,,,.;o, h,.c ~
,hc exclusion Of tho conntrv an,| docsnot ,,oyo
th,. Tho molinm or c;r.,in,i,, hos ,,t Loo,
too LARGELY con,rac,el ", lcl;nvc nm ;n..
crease Of tho vo,umc If c,rrcncv would hn,n
tho pcnn,c cvcrvyhcrc IN ,.i>;n. Mo n,;oo nr
products and nroncrtv ccncrol)v and cn,hi;nr
thcm to nav thcir dehfs w;,ho,t s,cr;Gc;nn
their homes The upucycd intcrosts viii
onposo this. rs il takes away their onnortu-
nity; but the good Of thc many should always
bc frs, considered. Besides, the Goycrn.
mon. has contracted tho circulation too
rapid Y, ana thus induced this state of thines
aud it shonll repair The evil. It now takes
two thousand dollars in property to ray q
debt which six years ago one thousand would
have paid We pretend to no financial ability,
but We see o sad state OF The country ard
know tina, an increase Of the currency would
modify, if not relieve tho difficulty.
One effect of The depreciation in property
in Soulh Carolina will hc n rc,lrccI voIu,,;rn
of tho property of tho State ia q basis Of tax>