Savannah morning news. [volume] (Savannah) 1868-1887, 1884-05-25
1000 TowARD - soUTH.
English Capitalists Preparing to Give
Our Interests "a Boost.
Tarfrr cfrgTrrT

war. they. lu manner. dropped out OF
sight. The English capitalist. eager
always to fnj safe or promising outlets
tar has money invested large sums every
year Do tie railways and manufacturing
Industries oi the North. and in the unde-
Neloued.u nUeopicd lands of the Far West;
but Che old southern States which formed
the Slave-holding Confederacy had no at
fractions for HIM. A vague notion per-
tadld tlc minds 90 people in this country
that these southern states We're the abOdes
GO anarchy. The slaves had been liber-
ated. and all men applauded, but they
hal also been given vote. and many
held ilat in tl1t gift lay the ruin Of
sHl lllu inheritance. once the pride of the
ulou- For some years events IN these
STATES supported this view. AntagOuisms
were developed between blacks and
whites. legislatures We're either gagged by
tle restrictions Vt the conquering North,
OF eal tIfed nF political adventures Of
cd. loves, GLASS; and used shamelessly for
lIlflI. UuJ>- To this DAY the Legislative
Ass t ot Eastern Virginia is con-
-T".-.t ut men who openly scheme and
e-~a'e Wltha view To the reputation
ri lf- public debt. and most of the other
states Uf tae Southern Confederacv
ta rl puH.ic debts have. within the
la-t Zen years. compounded with their
,r-- nn terms more or less unworthy
MT t--.r rerlNn. That. i'm short, is the
-lt- - -- southern troubles and disOr-
tt.Nn Which has presented itself TO
tla~ u Lu-ianl who were ON the out
l0A t0I Investments. and 10 made them
l their eye, i'm other directions. In
f--I~ were ready enough % SINK their
means DID undertakings for the irrigation
81 $3.50. u-s iu Colorado. They were not
a.r Gu rIH great risks I'm the Wilds of
NHr.t-sI. Hr So face The rigOrs OF an 4 re-
tt ll Northern Dakota and Mani-
a- li 1u lr1u or coal industry i'm Penn
~flfaull- which lived merely because pro-
.-cll d crushing customs tariff, and
even -Aen only through the adoption Of
O.. most reckless eNpedients for curtaIl-
lu- production and maintaining prices
- such lu organization asked for money
ln The London market, that market re-
spo.deu with millions. But till within
t.e last four or Hvo years the sunny, fer
Uie. richly endowed lands of the South
were carefully avoided. and even now few
tl-uN either pt going there OF of trusting
money 10 people VINO may turn round and
repuli3t the obligation.
Since 1872. however, the tide has been
slowly turning; and, perhaps, the hold
ing oi great exhibition. or worlds fair,
az View Orleans this summer NAV set it
running ln the new direction all the more
rapidly Tor having been so long held back.
NeW orleans lies far away South. on the
lot margin of the Gulf of Mexico. 1t has
less than 100000 inhabitants, and is
known 90 us merely as the metropolis of
lle Qtton-GrOwing States, and the Occa-
siunal home Of yellow fever A quaint.
foreign arr hangs about it. and a
KIND OF old world slOwness, inherited
uom ITS original French settlers, that
scarcely predlSpOSes the mind for such an
euterp USe as has now been set on foot.
But New Orleans is moving as all the
south moves, and has caught the fever of
81
been advertised. moreover, that thirteen
foreign nations have applied for space az
Sreedun- two hundred thousand square
leet ln us coming exhibition. Holiday
trips from all over the Union at least and /
perhaps nom many parts of Europe. will !
tlls year low towards the city that guards /
tle mouth Of the Mississippi. The States I
and Territories Of the Union. too. will /
Kle with each other i'm the display of their /
lFaAlrt~- and IN this competition. neg
.o--.. though they have been. the South /
r.l states WIZ mold place of which they /
need mon De ashamed. I'm many respects /
--- good ipr them that they have 4
i alone They have progressed /
.-'r. slowly. hut also more surely. than 4
tl-y had been exploited by the capital \
-t ANA 'mpany- from the North
states or from England. But their
progress has been solid. The coal and iron
Industries 10 Alabama, for example. are
healthier to-day than those of Pennsyl-
fania. They suffer, 10 is true. from the
taWlu.asome influence of a protective
tarll. but they are less developed /
ana less dependent upon the maintenance
. demand at an artificial level than the
FORCES. mills and mines of the old Quaker
state. These latter have been inflated to
q most dangerous position by the capital
-ley have borrowed, whereas few, except !
daring adventures, have thought of Ala
anna: ANA yet in that State, and in its
neighbour Ge0rgia-tlere are unQuestiOn-
t.y som. of the finest deposits of iron ore .
and % coal ta De found i'm an North Amer
z-l. The industries TO which thes give
are JOB their infancy. but already the
local producers are able to compete sue
eeS-tllly with the IrOnmasters Of Penn 1
-t.Faua. lu other Industries, also the I
rl--a-- has been little less remarkable.
I'D. southern states enjoy, OF course, I
practical monopoly in the production OF /
American cotton. and It would be foolish /
81 institute comparisons with regard TO 1
Chat branch Of agriculture. Till lately, I
however some of these states have done /
little more than grow the cotton, but now 4
tae cotton mills 0f the South. principally I
la Georgia. have made rapid strides to- /
wards equality with those eff New Eng /
land. a recent estimate places the capt. /
taI invested in these southern mills at l
LLH.tIN.UlN. and the increase in the amount /
% cotton manufactured has been more /
than 6A per cent. within the last half /
dozen Years. At The same time the eXpan- (
sion Iu the cultivation OF cotton has been /
such that the average crop Is now fully /
double what It was I'm the days OF slavery.
4 panorama Of this kind might be al /
most indefinitely extended. We might
descant on the orange groves Of Florida,
the vast forests Of Arkansas, fast disap-
rearing. on the cattle ranges Of Texas,
O. ..r.. ff.sF a. of
Louisiana. Enough, however, has been
said Oh indicate the Astounding wealth of
tlLs lalf-f1rg0ttel region IN the United
States. Tia former days New England
Ta- l--HI-ed. comparatively speaking,
ana Old. ue0uth names of Connecticut,
Vermont and Massachusetts We're far less
known tJ EnglIshmeu than Maryland,
-0J Kentucky Virginia, Georgia,
the larolm3s and Louisiana. The
latter have been Of late eclpsed,
hut n all probability their time is
coming again. The shrewd men of the
eiry have begun TO direct their attention
CD these forgotten regions and the pros
ueetus accompany after company devoted
Fl the exploitation OF the old Southern
states indicates that there is an increasing
disposition 10 turn aside from the bleak
North and the arid eastern slopes OF the
Rocky Mountains towards those lands
where the earth Yields its increase with
olt too much cOaXing-the laughing,
lsrFr south. Railway companies, iron
companies. land companies. companies Of
an descriptions. are eager 70 procure the
money NJ the English investor, IN order
q expedite the development Of
this neglected country. Private
firms are busy setting forth the advan-
rages OF mortgages upon the estates of a
cotton grower, the farms Of a wheat
grower or the runs Of a sheep or cattle
graZier, aud numerous pamphlets have
been written 10 demonstrate that there is
no security equal to that Of southern
land mortgage. and no bond eXcelling
that ot railway in one of the old slave
holding states. There may, perhaps, be
truth iu this view, and, at all events, ii is
inevitable iu these days that the most
should be made Of opportunities for
money lending such as the southern
-tat-s nlnri II IS the characteristic of