Savannah morning news. [volume] (Savannah) 1868-1887, 1882-06-26
Capital Coming SouthMard.

Frank G. Morehead, President of the
National Cotton Planters Association,
who has been spending several days in
the city, left yesterday for the South
Mr. Morehead has been North to see
about number Of matters of concern to
the people of the South, and he has been
promised the cooperation of Northern
capitalists in a number of projects look
ing to the advancement of the material
interests of all the cotton States.
As President of the Cotton Planters
Association, and as a planter himself,
Mr.. Morehead has had exceptional IA
cilities for becoming familiar with the
needs and the possibilities of the whole
! Southern country. To him and to his
co laborers of the National Cotton
Planters Association is due much of the
success of the Atlanta Cotton Exposi-
ton, and the good it has done has en-.
couraged him and Others to continue
their public labors.
Mr.. Morehead says the coming fair at
Little Rock promises to be only second
| in interest and importance to that held
last year at Atlanta 1t will be Atlanta
on a smaller scale, and, opening October
II, it will continue for one month. The
annual meeting of the Cotton Planters
Association will be held October II, and
there will be great gathering of men
connected with the planting and manu-
facture of the South's great staple.
eve need" said Mr.. Morehead yester-
day, "much more capital in the South,
not only in railroads, mills and mines,
| but it is needed as much or even more
in agriculture. To-day, beginning at the
Gulf and including all the lands in the
cotton growing district, l believe you
could buy it all at one-third of its actual
value. | mean by this that, with capital
| sufficient to cultivate this land as it
ought to be cultivated, TO introduce the
proper tools and machinery, to buy sup
| plies as they are needed; IN fact, to con-
duct an agricultural business as other
| business is conducted, the Southern
lands would produce crops of such mag
nitude as to yield handsome return for
thsee times the money which could pur-
chase them to day."
"What effort has been made to intro.
duce this much-needed capital ?" asked
the C0urier-J0ur7lGl reporter.
81 have been for some weeks in New
York and Boston, and | find capitalists
| which is founded on any right basis.
Cotton mills are especially attractive.
and new ones are now in course Of cree
ton, or will shortly be erected, at Vicks-
burg, Natchez, New Orleans, and other
places. Money has also been largely in
vested in the purchase of mineral lands
and wood lands. In addition to all this.
a land syndicate, the purpose of
which is to buy up large tracts
of land and enter on the culture of cot
ton on an extended scale. Any one
familiar with matters in the South,
knowing anything of the difficulties of
the situation, must realize now that in
order to raise cotton successfully it is
necessary to introduce all the best nipple.
ments, to purchase all the new labor
saving machinery, to have the same con-
troll over the labor as has the merchant or
manufacturer. In this way only is it DOS
sible to supersede the present careless
and unmethodical system by one which
will yield alike to labor and capital
the largest returns. It is to accomplish
this the land syndicate has been organ
lied. 1t will have capital enough to
cultivate large tracts of land as carefully
and as effectively as garden. Paying
good wages, it will have command of all
the labor it requires, which will be di,
recled with a purpose. In short time
plantation so managed will be brought
10 such high state of cultivation as to
cause revolution in it's neighborhood.
But the land syndicate is only one
plan which will lead to large investments
in this section of the country. A COM
pany has been organized to loan money
on real estate. 1t will have its agents at
the central cities, and will retain the
best lawyers in every important neigh
bOrh0od. A man wishes to borrow any
where from $1,000 to $4,000 on his
farm, and use the money in improving
his place. He will make his applica.
ton in due form, stating amount
desired, describe his farm and
Improvements, and specify the length of
time he wishes it. This application will
be forwarded to the managers. If they
are willing to make the loan they then
have their lawyer to examine the title
and have the farm valued, and if it is all
satisfactory the loan is made. As by
such a system the risk is small, so the
rate of interest would be small. This
company, think, before January next
loan on real estate between 5000 900 and
$500, 000 and when fully organized it
will have several millions at its disOoeal -