The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-11-19
ENGLISH INVESTMENTS.
They Are Going to the south and southwes

They Are Going 10 the Southahu sou.h"es'
LoNpoN, October IA friend of mine, of
much experience in Wall street was recently
in London, and while there he was asked in
what part of the United States he would be
disposed to look for good and promising in
yestmentS. He answered at once, the South
and Southwest. Those sections of the
country. he said, had long been neglected
from many causes; the war had thrown
them back for many years, and the exclu-
sive spirit of the Southern people had pre-
vented real progress and the influx ofnew
capital This neglect had fallen
upon some of TIE most rich and fertile
territory in the United States; but, ac-
cording to my New York friend, this state
of affairs is likely to become as much
anything of the past as the war ITSELF and
in the course of q few years the South may
be as great q source of wealth 10 the whole
nation as the East or West 1t was, in
fact, TO certain railroads running through
the South that he recommended the person
whom he was addressing IA London banker)
to turn his attention If he wished to re-
commend Investments slikely to prove
profitable in the future,
u
or not cannot say, for do not know very
much about Southern railroads. But
that the South will not always remain
a hundred years behind the rest of
the Union may safelp be taken for
granted. The tide of foreign emigration
will flow in that direction, so far as climatic
condition will permit, and manufactures
will take root and flourish, at least as well
as they have ever done in the Eastern
States. Experiments like that for which Mr..
T. 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 a well-meaning man, but he is
also very visionary and obstinate one,
not at all fitted to give advice on a mat
ter requiring so much practical knowl-
edge and experience as tn 1t Of found
ing a new settlement The Rugby
ties" are writing doleful letters home
to the newspapers and telling their
countryman not to think of trying their for
tunes in the South. And yet, from the
very first many of them were warned that
Mr.. Hughes was about the last man in the
world to whom it would be safe to adopt
as a leader IN an enterprise of this kind.
They thought he must necessarily know all
about founding settlement because he had
written popular book, but authors are by
no means the wSest counselors in the prac-
teal affairs of life, even when the difficult
ties involved are far less great than those
which must necessarily surround the for
nation of the new colony-for to nothing
less than. that did Mr.. Hughes
aspire. The fate of Rugby, how
ever, will have no effect upon
the future fortunes Of the Southwest. 1t
may, perhaps, render people more cautious
n Ia md in Il 49,,
without knowing anything about either
the land or the seller thereof, but legiti-
mate schemes of emigration will not be dis
Outraged. There was considerable spccu-
lation going on at one time here even in
the Rugby lands, and some of the original
promoters are reported to have sold out
early at a good profit. The fact is that
stories about the great future before the
South have reached this country in many
forms during the last two or three years,
and they aroused in considerable class a
strong desire to cast in their lot with that
future whenever they found chance. There
isplenty of English money to be had for
any enterprise in the United States which
holds out a moderate prospect of success,
and after the experience which English in
vestors had of the Erie and other railroads
they are not inclined to fear that they
would fare worse if they cast some of the
bread on Southern waters. What would
attract more attention than any other I'M
dertaking is that which will inevitably be
heard good deal of by and blythe estab-
lishment of cotton mills in the most favor
ably situated States. Already, as | have
understood, that industry is rapidly extend
ing from the East to the'West and South and
III course of time not much cotton will be
sent over the Atlantic for manufacture. 1t
will be made up on the spot where il is
grown, and the chief mart for cotton goods,
as well as for raw cotton, will be the United
States. This is certain to be the course of
events in that particular branch of COM
merce, and capital enough will pour in
when the Southern people are prepared 10
make good use Of it, People are always
ready for something new and it will
be decidedly something new to hear of
an Industrious, active pushing and thor
oughiy reconstructed" South. That is the
next boom" which we are looking for.
The old combinations of familiar names
begin to lose their attractiveness-Va Wander
pitt Gould, keene, people have heard of
long enough, and now is the time for some
new genius to appear upon the scene. Ii
takes capital, however, to bring capital and
where that is to come from in the South is
hard to conjecture These are matters on
which you have far better means of gaining
Information than anybody in London, and
content myselfwith pointing out the fact
That public curiosity and expectation are q
good deal directed toward the Southern
states at this moment, apart altogether
irom the speculation in Confederate bonds,
which was started in some back room in the
city and which is spoken well of in the city
article of your contemporary, the World, and
nowhere else that am aware of,-[New