The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1881-08-17
THE HORRISqOWN GAZETTE
WEDNESDAY,, AUGUST IT, 1881
TIE NEW SOUTH.



soon to be held at Atlanta, Georgia, and
while It cannot be doubted that the eff
feet of this enterprise will be mostly
beneficial to the industrial and aGricul-
tural development of the South, itkshOuld
not be forgotten that another and
mighticr agency than this is quietly at
work, whose results in the near future
will astouish the civilized world. This
new agency is the extension of railroads
In the South A recent letter from
Atlanta, Ga, states authOritatively that
within the past eighteen months there
has been subscribed in the north and in
Europe the enormous sum Of 800, OO0,-
900 for investments in railroad building
in the South. In this estimate none of
the vast sums invested in the southwest
dred millions Of dollars have been in
vested in the purchase and building of
railrG ads only in that part Of the South
east of the Mississippi river and south
of Richmond, Va. 1t Is unnecessary to
enumerate the various railroads systems
covered by these investments. The
public is interested rather in the effect
Of such investments upon the business
of the South. Discussing this effect the
writer of the letter in question says
that the immediate development will
be something hitherto undreamed of in
the South. OF more than 800, 900, 600
invested fully $50, 900, 900 will be invest
ed at once in improvements. AT Allan
Ia, for instance, the sum of 81, 100000
is contracted to be spent in the next
twelve months in building and equip
ping new lines already commenced
from that city as headquarters. The
work OF the various roads involving this
vast expenditure is already begun, and
the money Is provided. The extent of
this development may be imagined |
when it is stated that the entire railroad |
system of Georgia, every mile of road |
now built costs very little more than
that involved in the new lines now Hn-
der contract at Atlanta. There are, of
course, many roads being built outside
of these contracts, carrying the total
capital sent in, and devoted to building
new roads in the cis-Mississippi south,
to more than $35, 600, 900.
The money already appropriated TO
building the new roads, vast as it is,
is for the most part devoted TO main
stems. To feed and protect these, stem
branches must be built which will in
yOlve more expenditure and consequent
There are. now Organiz-
ed two companies to build feeders to
the Georgia Pacific, and they claim to
have money to begin work as soon as
they obtain their charters Col Cole
building several branches
TO the main stem he is building for the
Cincinnati and Georgia line. But an
other and important factor in the work
Of Developing the South is the fact that +.
the investment of this vast capital {
has taken from the hands of the
Southern holders at advanced prices mil
lions of dollars worth of railroad stocks :
and bonds, tue money from which will
be put in real estate, factories, and 9th
er business. To illustrate: In Atlanta, :
)ne gentleman cleared 800, 600 on the
Use in East Tennessee and Virginia
stock when he sold to the Cincinnati
Ind Georgia syndicate. Another clear ;.
ID $40, 600, ana still another $3.50, OOO :.
n Augusta and other Georgia cities
Millions were cleared by the rise under :,
harp northern demand and manipula- "
ion of Georgia railroad stock from IS .
q 1876, of Central from 90 to 165, Mem :
his and Charleston from 40 to 80, and u
'ther local stocks in proportion. LarVe =
mounts of these have been marketed y
o the north at high figures, and the sell u
rs must seek other investments or use .
or their money. This gives great i'm
etus to local enterprises and values. u
AS an incident 10 the influx of the !"
asst amount of capital into the South u
ill be the investment of other large y
ANS in mining and manufacturing in u,
ustries. immigration, as necessary VI
will flow into these States
broad and steady stream. Farms OF
i'll multiply. Breadstuffs, cattle, cot III
n and tobacco will be produced in oi
Iormously increased quantities. The le
agnifcent fields, the inexhaustible Oh
ines, the vast stretches of timber, the va
lubrious climate of the garden spot of
e world will at last be utilized, and
,uthern empire, not of politics but of
lsiness will grow up, bloom, flourish of
ID bring forth fruit to an extent that mi
III revolutionize the channels of trade. do
lis is no fancy picture Even young th.
en- have seen the fiat, chilly, grass N,
PIPER cursed praIries of the northwest mo
velop into populous and wealthy of
ciion, but the resources of the South an,
G infinitely superior to those possessed .
the northwest The next twenty "a
ars will witness a startling revolution Gu
the South. Within that period its =
puIation will treble, its wealth will dis
increased enormously and its social wa
editions will be completely altered. SIN
e lesson to be drawn from the facts T
the case is apparent. Let the young, TO
Idstrious and enterprising men of the me,
lsidcs and crowded cities of the north j
South, now. They will noiIhave to
w M with the country. The cOun-
win grow faster than they. The
ing men who go South at this time ~
not only advantage themselves. but '''
Y will assist in rendering the nation S.'0
1ogeneous. They will make the cru,
iii more like the North. They viii %
der sectional difficulties between the 'hos
til and South impossible. The pro- US
sialism OF the oou'n 10 i0Piu,J "'s"A or
down. The railways now in pro- sd