Southern standard. (McMinnville, Tenn.) 1879-current, 1883-07-21
Southern Cotton Mills.
Nashville Banner.


manufacturing lies in the lack of capt.
tai. The south has not sufficient capt.
tai, but no expression is more common
in southern business circles, and even
among southern politicians, than that
the northern capitalist is not only well
come, but is eagerly desired. And
nothing is more certain than that north
ern capital is coming not only where it
will do the most good, but where it
will multiply itself most speedily and
surely" Thus writes a Wilmington,
N. c., correspondent of the New York
Tribune, who has studied the subject
thoroughly and is deeply impressed
with the result of his investigations.
The Banner has often called the atten-
ton of capitalists to the magnificent
possibilities of cotton manufacturing
in the south, and is pleased to know
that the industry is attracting much
notice abroad, and that within the next
few years quite number of factories
will be established in Alabama, Geor-
gia, Louisiana, Florida, Mississippi,
Arkansas and Texas. There are many
reasons why the south is the best field
for these factories, and without detail
ing them at length we will allow the
Tribune's correspondent to present a
few. He says:
In cotton manufacturing, the south
does not have to depend upon special
rates from railroads, as the northern
manufacturers already Go. Its advan-
tage lies in its being able to take the
product almost from the field, so nearly
so, indeed, that it needs scarcely any
transportation until it has reached the
condensed form of the manufactured
article, to the value of which freight
charges bear an enthusiastically smaller
proportion than to that of the bulky
bales Of the raw cotton. 1t is no ex-
ageration to say that the south is full
of the cotton manufacturing question.
The advantages of the south in this
industry are apparent at glance to
any one that visits a southern cotton
factory. The industry is taking such
a hold upon the southern capitalists, or
attracting SO many capitalists from the
north, as to promise to revolutionize
the ruinous system of farming that has
prevailed for so many years, and the
southern farmer may after little be
able to work his farm on cash basis,
instead of having his crop mortgaged
before it is planted. The manufactu
rer has the further advantage of buy
ing his cotton at half cent per pound
less than his northern competitor pays
and saves enough to pay his fuel bill
in buying his cotton before it has gone
through the compress, which takes
seventy cents bale. This bushes;
proves so profitable to the compress
owners at the expense of the northern
and foreign manufacturers that divi
dend of eight per cent. has just beer
declared by one of the compress compa
MES here. Another advantage to thC
southern manufacturer lies in his being
able to buy his cotton near his door O
merchants, with whom he is in daily
personal contact, which is very conve
nient in case a bale doesn't prove equa
to sample"
A Georgia factory recently declared
a dividend of 20 per cent, and Their
are several in that State which pa,
smaller dividends. There is a DISPOSE
ton on the part of the proprietors o
nearly all the factories to supply then
with the latest improved machiner,
and increase their operations, and i
their plans are carried out the dividend
promise to be larger and more frequent
There is great deal of money in cot
ton manufacturing, and southern ant
northern capitalists are beginning t
see what an excellent investment
southern cotton mill is.