The comet. [volume] (Jackson, Miss.) 1877-1882, 1880-03-06
Factories In the state.


Before the war, at the end of the
year. when farmers had surplus OF
money on hand, it was sure to be in
vested in the purchase of additional
slaves. He paid generally from $1,000
to $500 for single servant, who
might die the next day after he paid
down the money for him. After
paying for clothes and food and doc
tors bills, and other contingent eX-
penses, we doubt very much whether
the purchaser realized 10 per cent in
terest on the money invested. Still,
nothing was thought to be a more
profitable investment than to buy
slaves. The country was called pros
porous, and the people seemed to get
rich under the old regime; but now
things have materially changed, and
the farmer asks the question, "If |
have any money at the end of the
year, what will be the most profit
able inVestment?n
Facts and figures are stubborn
things, and it has been proven con-
clusively that if you only invest your
money in cotton factories that instead |
of realizing 10 per cent. profit from
your money, you can realize fifty per
cent. for the capital invested. Now,
which is the most profitable, build cot
ton factories, or buy negroes? Cotton
factories can be insured, while in the
other case you had to risk everything.
1t seems natural that the staple
should be manufactured where it is
grown; you save, not only the expense
of transportation but other expenses,
and of course ought to pay better than
factories at the North.
Georgia seems to take the lead in
cotton factories, and to-day, she is one ,
of our most prosperous Southern
States. Even down-trodden and I'M
poverished South Carolina is rising q
Phoenix like from her adversely, and |
moving onward to brighter prosperi- =
ty. To show what this State is dong, i
we copy the following from the t
Charleston News: T
There are in this State II facto- c
ries mot including the Westminster a
Clement Attachment Mill engaged b
in the production of cotton yarns and W
cloths. These factories have 95, 43S b
spindles, with 1888 looms in operation. Il
They produce 101 1888 yards of cloth a
and 17,1S3 pounds of yarn for each a
working day, consuming for each Z
such day 54,049 pounds of cotton. fl
They employ 2296 operatives, who in re
turn support 1918 persons who are de- fir
pendent upon them, the monthly pay h
rolls being over SIS, 900. The capital al
i'll these mills amounts to 2,2SS, 800 sa
and they are estimated to lie worth |
now S2,844, 500. The profits range 81
from Is to so per cent per annum upon W
the capital invested. This 80 per cenG. re
is the return from the Westminster or
factory, the well-known home of the di
Clement Attachment AT the other sll
factories the profit ranges from Is to as
252 per cent. per annum, the highest fri
rate reported being that of the Pied w
mont Mills in Greenville county" W
If our people have not capital to w. w.
1uiId cotton factories let them estab- nc
ish "Clement Attachment" which of
O-day, as the above report shows, are III
paying 80 per cent profit in South ms
'arOlna. What few factories Missis- me
ippi has established, have paid large all
iyidcnds, as the factory at Wes.on t Iiitt
lainly shows, but we have not thl
nough Of them, the people seem to rel
AXE no interest in building them. | 9
The New Orleans Times of the 2Oth 1ot
lst says: 5nI
at is difficult to understand why an
lore cotton mills are not established as
| the South. \ statement, recently can
lblished, shows that the Eagle and tho
hoeriX cotton and wooden mills at i'll
Georgia, have, since they At
ere established thrteer years ago, to s
id one million of dollars in diyi-
'nds, besides having a large surplus
hand at the present time. No
'uht other mills if established in v
vorabe locations in the South gan
)uld pay equally well.n
diJU
What will pay in one State will pay gres
another, the people need a little disc
}re enterprise and then the factories evin
Il be built. emp
Millions Of dollars of capital is nun
ng idle at the North, and paying larg
freely five per cent on investments the
has been kept away from the South ~
lying reports about the political ton
ldltlon Of our country, and it has mers
N circulated abroad at the North proc
t the South is not safe place to othe
est their money. But these things are
destined to be changed. Time ish il
correct them, then Northern cap are
will seek investments where they popu
be made most profitable.
o country on the face Of the globe
more natural advantages than the Aft
tn for the establishment of racto- that
. Timber and water abound and light
If is comparatively cheap. The mucl
Die only need be aroused from their buds
argy and hundred factories with very
lsands of musical spindles, will Decor
ng up all over our beautiful have
Inland. not t
seriou
; far as our observation goes the bring
ters III tins county have a cheer and (
n1 P, pc ~ outlook. Ihey are is mos
monnv TLera w IL Wa
nn-..,, IL. -, IN - - - H.