Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1890-11-27
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The prospsroas south.


The Z fosperogs South. 8
The A1hdsaVaaAasefs Record 81
November rs has the following
The excitement I'M Wall Street, ii
long continued, would necessarily
have an injurious influence upon all
lines Of business III all sections II
the country, bnt IS trade and manu-.
featuring Interests everywhere are
prosperous, II is not probable that
the stock jobbing operations of New
Cor will have more than q tempo.
rranry effect upon general business.
Under any circumstances, though,
the sopth. is in better position To
stand even 9 panic than any other
section. It has gathered big crops
that will aggregate in value forttbee,
year nearly 81 900, its cotton
alone, including the seed, counting. DIP
TINS year between S450,000,000 and
$5O0,0o0,O00, every dollar Of which
il will draw from the North and
Europe. It's farmers are practically
out Of debt, and many Of them have
q good surplus; its manufacturing in.
terests are prosperous, and its rail-
roads are crowded with freight traf-
ic. The whole South Is advancing
rapidly, and if dependent upon It's
own financial resources could stand
the strain far better than the West.
But the enormous shrinkage in stock
values in Wall Street will tend to
drive money from that center Of
wild speculation to safer investments
il Southern deyelapmen and manu-
featuring interests. The decline in
% stocks on the New York Ex-
change since November l represents
a wiping out of $1O0,00O,0OO, and
the people who have seen fortunes
swept away like this will prefer to
put their money elsewhere in the fu-
turc. The daily accumulation Of
wealth in the United States is enor.
nous, and it must find a field Of in
yestmcnt somewhere. Driven from
Wall Street spcculations, and no
longer finding any profitable open
ings in the West as in former years,
it must inevitably turn to the South.
Thus, instead Of Wall Streets furry
injuring the South, it will, help to
drive Q still larger volume Of money
this way. The past week shows
continued activity in the org,a1lniza-
tion of industrial enterprises and Of
town-building companies. Salem,
Va, leads off with an appropriation
by the several land companies there
of 100000 in cash to secure tho
establishment there of a rolling mill,
cotton mill, car works and other en-
~terprises; in Buena Vista a $1,000
900 company has been organized to
build basic steel works, and three.
Improvement and building companies
with an aggregate capital of $780,
600 have been started in the same
place; Glasgow has organized a
100000 car works company; Nor
folk, three land Improvement compa.
MES with q capita! OF s 100000;
Wheeling, w. Va, is to have new
steel works; at Vicksburg, Miss, q
100000 phosphate company has
been chartered, and at Aberdeen, in
the same State, a $4,000 machine
shop company; at Algiers, La, a
$4,000 brewery viii be built; Besse-
mer, Ala, has organized a 100000
pipe manufacturing company; Balti-
more a 100000 car company; Bar
tow, Fla, a $4,000 manufacturing
company; Blacksburg, s. c., d $780,
900 stove foundry; Rusk, Texas, a
100000 company to build an iron
furnace, and Rodgers, Ark, a $40,-
600 ice factory. These enterprises,
scattered all over the South, show
how widespread is the activity thaS
is seen from Maryland to Texas.
Without any fictitious speculation
or wild booming the South is steadily
pressing forward, building new towns,
new railroads, new factories and fur
naces, and everywhere shows evil
dence Of activity and prosperity.
ob-------
Proposed Tunnel Between ireland
and Scotland.