The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1881-11-24
ENGLAND AND THE SOUTH.
iDoolt,:ig 10 the southern States for Prom
ising Investments.
J. l.. Jenninys in the Ner York H0rii.

j. l.. Jennings in the Ne,r York Uorli.
LONDON, October 27.
4 friend Of mine, of much experience
in Wall Street, was recently in London
aud while here he was asked in What
part Of the United States he would b,
disposed to look for good and promising
investments. He answered at once, The
South and Southwest Those sections 81
the country, he said, had long been neg.
lccted from many causes the war had
thrown them back many years aud the
exclusive spirit of the Southern people
had prevented real progress and the in.
flux Of new capital. mis- neglect had
fallen upon some of the most rich and
fertile territory in the United States, but
according to my New York friend, this
state Of affairs is likely to become rs
much thing OF the past rs the wal
itself, and in the course of few years
the South may be rs great course
of wealth to the whole nation Nd
the East or tho West. II was. in fact, Ia
certain railroads running through the
South that he recommended the person
whom he was addressing IN London
bankerl to turn his attention if he wisl.ed
w INV CSlIlltUtS likely Ia
prove profitable in the future.
TIE DEVELOPMENT OF THE SOUTH.
Whether this suggestion was wise
one or not ] cannot say, for l do not
know very much about Southern rail.
roads. But that the South will not
always remain hundred years behind
the rest of the Union may safely be
taken for granted. The lido Of foreign
emigration will flow in that direction, 10
far as climatic conditions will permit,
aud manufactures will take root and
flourish. ut least as we'll as they have
ever done in the Eastern States. Expe-
riments like that for which Mr.. L.
Hughes iS responsible in Tennessee must
necessarily do more harm than good, by
giving people an erroneous impression OF
the country and the conditions Of life.
Mr.. Hughes is u wellmeaning man, but
he is also very visionary and obatinate
one, not at all fitted to give advice on Il
matter requiring so much practical
knowledge and experience as that of
founding new settlement. The "Rug-
byltes" are writing doleful letters home
to the newspapers and telling their
countrymen not to think Of trying their
fortunes in the South. And yet, from
the very first, many of them were warned
that A1r. Hughes was about the last man
in the world whom it would be safe 10
adopt as leader in all enterprise of this
kind. They thought he must necessarily
know all about founding q settlement,
because he had written q popular book,
but authors are by no means wisest
counsellors in the practical affairs OF
life, even when the difficulties involved
are far less great than those which must
new colony-for to nothing less than
that did MIR Hughes aspire. The fate OF
Rugby, however, will have no effect upon
tho future fortunes of tho Southwest
1t may, perhaps, render people more
cautious of buying land in q distant
country without knowing anything about
either the land or the seller thereof, brt
legitimate schemes of emigration will
not be discouraged. There was consid-
cradle speculation going on at ono time
here even in the Rugby landd, and some
of the original promoters are reported to
have sold out early at good profit
The fact is that stories about the grea,
future before the South have reached
this country in many forms during the
last two ar three years, and they aroused
in considerable class strong desire te
cast in their lot with that future when
ever they found chance.
There is plenty of English money tc
be had for any enterprise in the United
States which holds out moderate pros
pect of success, and after the experience
which English investors have had o
Erie and other railroads they are not in
clined to fear that they would fire worse
if they cast some of their bread OF
Southern waters. What would attrac
more attention than any other undertak
ing is that which will inevitably b'
heard good deal of by and blythe es
tablishment Of cotton mills in the mos
favorably situated States. Already, a
have undersooG, that industry il rap
idly extending from the East to tn
West and South, and in course Of TIM
not much cotton will be sent over til,
Atlantic fer manufacture. 1t will b.
made up on tho spot where it is grown
and the chief mart for cotton goods, a
we'll as for raw cotton, will be the United
States. This is certain to be the cours
Of events in that particular branch o
CONNER 9, and capital enough will pou
in when the Southern people are prepar
ed to make good use Of it, People ar
always ready for something new, and
will be decidedly something new to hea
of an industrious, active. pushing ant
thoroughly reconstructed" South. Tia
is the next "boom" which we are lookiu;
for. The old combinations of familia
names begin to lose their attractivencs
anderbilt, Gould, Kcene, peopl
have heard of long enough, and now it i
time for some new genius to appear upo
the scene. 1t takes capital, however, t
bring capital. and where that is to com
from in the South it is hard to conjec
ture. These are matters on which yo
have far better means Of gaining infor
nation than anybody in London, and
content myself with pointing out tn
fact that public curiosity and expecta
ton are good deal directed toward
the Southern States at this moment
apart altogether from Tie speculation i
Confederate bonds which was started il
como back room in the city and which
! spoken we'll of in the city article Of you
contemporary, the World, and nowher
else that / am aware of.
THE CONFEDERATE BONDS "BooM".
You viii probably be surprised to fin
tna1 tne %iite' vi INA. artlcie duotes yo
this week as authority for the hnpp
tidings that there is fund Of "a millio
of pounds sterling or so" still lying i
the Bank of England to the credit of tn
"Confederates." No suspicion of thi
Eldorado was previously entertaine
here, the revival of the speculation i
Confederate bonds having had nothin
whatever tangible to support it-nothin
l. 4 u
campaigners in the city thai the Gamer
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