Savannah morning news. [volume] (Savannah) 1868-1887, 1882-08-16
American Capitalists and the south.

will assemble at Saratoga today, and re-
main in session two days. The session
will be one of unusual interest to the
whole country. since it will be largely at
tended BY representatives of Chambers
of Commerce snd Boards Of Trade and
8 number of papers will be read, and
discussion had thereon, on such matters
as 'the currency of the future, "a ma
tional bankrupt law" 1.-THE future pros
poets of the South, and the inducements
offered to capitalists to invest in this
section" and many other topics Of gene
raj Importance.
The interest felt in the future of the
South by this association Of American
capitalists is exceedingly encouraging as
well as significant 1t is well known
how sensitive is capital, and while it is
ever on the alert for investment, yet how
the fortunate possessOr thereof is
always exceedingly careful not to
place his means in any venture
or any enterprise until he is pretty
well assured before hand that he
stands at least very good chance of
safety for his principal. and of receiving
besides a fair interest. When, there
fore, we see the assembled capitalists of
the United States turning their eyes in
this direction, it may be accepted as
proof positive that our section is enjoy
ing all the present prosperity which is
being claimed for her, and that her ca
pacities for further development are I'M
doubted, and offer fine field for prOfta-
bic investments.
Much substantial benefit then will
most probably be experienced by our
section from this session of the Bankers
Association, for that the result of its
discussions over the future of the South
cannot but be favorable to the investment
of capital in our midst, is an assured
fact. The amazing recuperative powers
of the South have been fully demon
strated. Never in the history of the
world has any country emerged from so
many apparently crushing obstacles, and
made so splendid a start on the high
road to prosperity and wealth in so short
time as has this favored section. I'm
poverished by war in which her losses
were absolutely far heavier than the
total public debt of the United States
at the close OF the conflict;
her labor system totally disor-
gained; the victim for years of
carpet-bag misrule and thievery, and
radical oppression and malignitY, her
people, despite all these tremendous him
ORANGES to recuperation, have borne their
troubles with unexampled fortitude. and,
refusing to be driven to despair or apa-
thy, have steadily worked with a hero
ism, bravery and industry worthy of all
admiration to improve the condition of
their section and themselves. The large
increase of our manufactures; our ex-
tensIve mining operations; the number
of miles of railway built and building,
all opening up new and desirable terri
tory; our new industries already estab-
lished and constantly being added to
all these show how well they have sue
ceeded. When the present condition of
the South is compared with that in which
she found herself less than two decades
ago, the strides onward she has made, in
the face of the well-nigh overwhelming
drawbacks we have noted, are simply
wonderful.
It is claimed that much of the recu-
peration is due to Northern capital which
was invested in the South after the war.
This is true. No section, no people, and
no individual can make Roadway unless
aided by money. Still, after all, the in
vestment of this capital was due to the
superior natural advantages of the South,
and the favorable prospects that the in
vestments would prove profitable. Surely
nothing is more certain than that not one
dollar from the North has ever been ex-
pended here from simple love of ouI
section, unless we except such special
charities as have been extended by phil
anthropists of the Peabody and Seney
school, And if the South, laboring
under all the disadvantages to which she
was subjected Just after the war, was
able to offer sufficient inducements tC
attract capital towards her even then,
how vastly greater must these induce
ments be now.
The American bankers are indeed wise
in determining to seriously consider the
subject of using their means for the de-
velopment of the South, since no section
can boast of greater possibilities, and
experience has shown that their
money will be speedily returned
with handsome profits. And all
the South needs is capital with
which to improve the advantages with
which we have been blessed by benef-
cent Providence to become the wealthiest
and, consequently, the most powerful
region of this entire land. Let our peo-
pie bend their every energy mainly to
this object; let them utilize the means
within their reach and determine to
continue to work steadily for the
advancement of their material in
terests. In short, let them
but manifest the same spirit of industry,
fortitude and perseverance which has
characterized them since the war, and
aided by the banks in securing capital,
the want of which they have so long
seriously felt, in another decade the
South will truly blossom like rose. and
occupy an enviable and influential posi-
ten in the country. This will not only
secure happiness to her people, but it
will do more to command for her respect
and to re-establish her ancient prestige
than mere attention to politics can
accomplish in century.