Savannah morning news. [volume] (Savannah) 1868-1887, 1884-11-18
The south as a Field for Investment.

There is no better field for investment
/ now than the South. In every Southern
state there is great need Of money to be-
I gin new enterprises or 10 carry on those
/ already established. Farmers want
money. business men want money, q
those who are preparing to open up mines
OF to start manufactures want money.
/ They are willing TO pay a good interest
| for it. and they can AFFORD to pay it. 1t Is
| a mistake TO suppose that they cannot
! furnish good security.
The South Is rich in resources. Her
lands produce %abundantly, her forests are
valuable now, and are becoming more
valuable every year, and her mines Of
iron and coal are equal 10 any in the
world.
l. needs only a glance at the assess
ment rolls Of the different Southern States
TO convince any one that the South Is
making rapid strides toward wealth. In
1879 the assessed value Of property in
virginia, North Carolina, south Carolina,
Georgia. Florida, Alabama, Mississippi,
Louisiana. Centucky, Tennessee and Ar
kansas was S2~.1S4.00O.O0O. The assessed
value this wear was s., 100000, an in
crease N rive years of $641, 100000. This
increase is not attributable 10 inflated
values. but 70 accumulated wealth. Pro
perty Is not assessed higher now, IN pro
portion 10 its value, than it was in 1879.
AS States have grown richer the rate Of
taxation has decreased. In this and some
other Of the Southern States the State rate
az taxation is remarkably low.
It is only within the last three or four
years that the growth Of the South in
wealth has attracted the attention Of the
capitalists Of the North to any great ex-
tent. and even low, outside Of a small cir
Gle, the advantages the South oilers TO IN
vestors are not known.
In-nnv OF the states named above money
readily commands from ; 10 10 per G
with excellent security. The great ma
iority Of Northern people who have money
10 loan are not realizing more than I per
cent. for it. They would gladly send their
money South If they could be convinced
t.at it could be safely invested. To satisfy
themselves on this point they have onl! 10
investigate for themselves.
The money Of the North made the West
ern states what they are. In 1873 the In
surance companies Of Connecticut alone
had S5O,OOO.OOO invested in the West. Al
most all OF this money was placed on
farms and secured by first mortgages.
What was done for the West by the capt.
taIist and moneyed institutions Of Con-
uecticut, Massachusetts and other
Northern States can now be don for the
south. The security in the South is just
as good as it ever was in the West, and
Southern lands are capable OF being made
just as profitable.
During the coming winter the Northern
people will get q better idea Of the South
and her resources than they ever had be-
fore. At the New Orleans Exposition
they will see evidences Of wealth that
will surprise them. Their keen business
sense VIII see opportunities for investing
their money in the South that, II Is hoped,
they will cot be slow to take advan-
tage Of.
The election Of Mr.. Cleveland marks
a new era in the material progress of the
South. The Southern people nov feel
that the last barrier to the most perfect
harmony Of sentiment and feeling be-
tween the North and South has been re-
moved, and they Will work to promote
the prosperity ofthe South more hopefully
and energetically. 1t will be surprising
if within a year Northern capital Is not
seeking investment in the South in great
abundance.