Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1882-11-30
Tho South and It's Prospects.

% G. II" in the Nc'cS und CJuricr,
has interviewed Col j. Is Palmer, of this
state, on his return from q long trip to
Enr"rc. Col. Palmer SAYS:
81 have passed most Of the last three
years in Europe, much of the time in Eng
ldnd. found great prciudices existing
in the minds Of most business men aud
bankers against the South This is to br
ns'r'bed to Ignorance Of cur true condition,
largely owing to misrepresentation not
always Intentional, perhaps, made by the
United States officials in all the prominent
towns in Europe. The ignorance O.. some
OF these officials is astonishing For ex-
ample, i'll the course of a conversation with
A!r Lowell, the United States minister at
London, expressed my belief that the
Southern States would in time become the
richest 10 the Unon. Upon being asked
on what l founded such an opinion, |
replied that VIC were yearly drawing from
tie North and from Europe nearly $780,
ooO,OOO for our cotton crop alone, and that
that amount would soon DC trcbled when
we should mannfacturs the most of our
cotton into goods as we surely would before
many years. With an incrcdulous smile
Mr.. Lowell told nc that l probably was
not aware that the hay crop Of New Fog
lani atone was worth more than the entire
cotton crop Of the South. told him that
had heard that statement made wears
before the war, but that bis hay crop, what
ever il amounted to, did mt add one dollar
to the wealth OF the country, every pound
being consumed he;e, and that could
probably give him some information that he
was not possessed Of, Which was that while
the total exports from the whoe United
States of tho great wealth producing crop
of the North, wheat, amounted in value in
1881 to only $lG7 100000 tho exports
from only ten States Of the princi.
pal wealth producing crop of the South,
Cotton, amounted in value to $245 900 900.
And this, too, in face of the fact that the
baoking Of all tic Southern States was
only Sol 100000 while that of the West
alone was SIGH 100000 In other words
the West received financial aid TO an cxtcn.
largely exceeding the value Of It's wheat
export, while tic ten cotton States received
financial sid to the extent Of leas than Que
quarter the total value of tho cotton
export. Mr. Lowell vas somewhat sur.
prlsed at these facts, with which, as the
representative Of the United States at the
court OF IA great commercial country, he
should have been convcrsant.
"What the South needs is capital and
foreign c'pital is knocking at our doors,
anxious to oc udmittcd. In the Western
States the banking capital is supplemented
by capital supplied to the producers of
TODD In It's various forms by moro than
twenty British companies to tho amount of
SOo, ,OOO, ,OoO, ws.ilc on the other hand the
agrlcuiturls:s of tho cotton States have
until within few months had no assist
anco whatever from foreign capital British
companies have now, however, commenced
loan'og on real estate in the States of
Georgia, Alabama, Mississippi Louisiana,
Texas and Arkansas, and it is to bo hoped
TINT they will soon be permitted to operate
in this Suato.
''T!ta a'tertion ef Easlish cotton manu-