New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-09-11
PROSPECTING IN SPITE OF THEMSELVES.

In journal devoted to Southern manufact-
uring interests, it is stated that the value of all
property in twelve Southern States has in
creased nearly $1,OOO,OOO,OOO since the last
census, or about AZ per cent. This is most
cheering statement and it is pleasant to have
reason for believing that the revival of indus
try, and the adoption of new methods and hith-
erto unknown Investigation of industry in that
section, are steadily adding to the wealth Of
the Southern States. The North cannot prosper
when this vast territory south of the Potomac
and Ohio lies dormant The growth of the
whole country in wealth and productive power
would have been incidentally increased, great
as it has been, if the Southern States had so
directed their local affairs. and maintained such
security and order, that they could rival the
States of the North in rapidity and health of
development. At every sign of sound and
lasting improvement in that section the North
EN- people rejoice heartily; it is good thing
for them as for the South itself. If Southern
manufacturers begin TO compete sharply and
often successfully with those of Eastern States
in the markets Of the West, and if Southern
railroads encourage such enterprise by giving
rates more favorable than some of the Eastern
roads have been disposed to give, all this causes
no irritation or regret with those who remember
that in this our common country the prosper
ity of each section is essential to the prosperity
of all
But there remain one or two things to be
said. If the South is getting rich so FAST why
does it still refuse to pay its debts Why must
we see Georgia bonds still refused place on
the New York Stock Exchange, and in the list
of securities in which savings and other lnstl-
tutions arc permitted to invest, because the
State persists in repudating part Of its honest
debt Why must Georgia virtually confess
dishonest purpose by refusing to submit, even
to its own courts and judges, the prctcxts on
which it denies the claims Of creditors Are
not almost all the other Southern States subject
TO the same imputatiOn, in greater or less de-
gree What one of them has not refused to
pay some part of the money borrowed for the
construction Of the very railroads which now
contribute so greatly to its enrichment, or for
other benefits which its people now enjoy 7
How many Southern cities have not rcpudiated
some part of their Indebtedness 4? Taxes In
that section are not heavy, but far lighter
than in most Northern States and cities, and yet,
when it is proposed to pay an honest debt, do
We not hear the same reply, that the people are
utterly impoverished and absolutely unable TO
bear the crushing taxation necessary to meet
their debit Nevertheless, it is claimed they
have gained in wealth $l,OOO,OOO,OO0 since
the last census.
One other question is in order The rapid
Investigation and marvellous growth OF IN
dustry, in which the Southern States take such
Just pride, are the direct results of the Repub-
lican policy of protection, against which the
South votes with a stubborn and mulish OBJ
stnacy. 1t would have been broken down long
ago, this Republican policy, had the Southern
States the power to overthrow it. Literally,
the new and grand prosperity of the South has
been forced upon that section, against the re-
sistancc of its rulers and voters, by the Repub-
can party of the North. Yet that party Is
mcanlY and Indignantly opposed in all South |
ern States, by the very class Of propcrty-owncrs |
whose land its policy has made more valuable, |
and by the ruling politicians, not with argument,
not even with unfair appeals to prejudice or
ignorance, but with violence and fraud. The |
Tnost infamous crimes ever committed against |
free government have been and are perpetrated |
in Southern States, and to this day are upheld |
and rewarded, in order to break down and de-
feat the very policy which is grandy enriching |
these Southern States in spite Of their voters,
their politicians and their crimes.