The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-05-24
THE GENERAL DEPRESSED FL
NANCIAL CONDITION OF
THE SOUTH.
The Best Remedy.

The Best kennedy.
Mr.. EDITOR I recently saw some
valuable data in your paper, which
will re produce and make some com
ments thereon. | have not a copy OF
the paper before me, but as l read the
article several times, l believe l can
quote it correctly.
You stated that during the last ten
years the State of New York accumu
lated SIX million dollars more than nj
teen of the best Western and
States combined, and that during the
same time the State of Massachusetts
accumulated ten million dollars 0
, than five of the best Southern States
that were in the aggregate more than
fifty eight times as large as Massachu-
sets.
Two causes combined mainly pro
duced this great prepOnderance IN IA
vor of said two States. and the same
will apply to the North generally.
1. Our manuf tcturing is principally
done at the North. Syme years ago |
saw from reliable statistics that the
little State of Connecf icut had n hun
dred and twenty million dollars invAs-
ted in manufactures q do not reCOl-
lect the amount invested by any other
Northern SJate), while the best State
South, lat thai time TENNESSEE had
only twenty million dollars or so in
vested. Our merchants will of course
buy their goods where they can buy
them cheapest. and consequently much
money goes North that should be re
tanned.
2. About one hundred and fifty mil
lion dollars is annually paid out in
pensions, nearly all of which goes up
North. The Southern people are taxed
to help raise said large sum. Said two
causes make money very plenty North.
Some time back [ saw a statement in
certain Of the papers that the Savings
Banks in she State of New York alone,
had on deposit over five hundred mil
lion dollars, this sum appears to be
unusually large, but l give the state
ment as [ saw it, At the North the
masses of the people have money to
invest. At the South it is the reverse,
mortgages instead thereof being the
rule.
$50. 90 PEI CAPITA.
1 believe that if some 500 were is
sued in legal tenders, thus bringing our
circulating medium up TO about $50
per capita 1t would afford much relief
at the South, at least for a few years.
France is probably th~estrongest nation
financially IN t3e world, she having |
believe some $50 per capita Qor each
man, woman and child, and expert
ence has shown that 1t is none too
much But in France the money is
very evenly distributed. and cOnee
quently the masses of the people re
ceive the full benefit thereof. Not SO
here. II the circulating medium were
increased to even $50 per capita it
would be only a few years before it
would n the main, flow to thu North.
s BEST REMEDY.
must be frank enough to say. that
under existing circumstances, | know
Of know Of no plan that will enable the
South TO retain a proper pro portion
of the circulating medium. Cotton and
t~urpentine are about the only articles
produced that will draw money from
the North. and to keep US anything
like evenly balanced, they should sell
for at least double tde present prices
Whatever party may be in DO yer. |
there Is but Ii tie probability Of said
prices being procured, at least not in
the future.
Consequently the best practical way !
for the farmers II Of the difficulty /
Will be TO stimulate a crop Of clover, |
peas, or other green crops, Glover best) |
by the use of commercial, or other fer
t%ilizer, thus In a few years increasing
the crop about four fold, they will then
be able to produce IN the farm nearly
everything required, and can thers
fore fill the bill TO its full capacity, liv-
ing bOunyifully and plentifully and
using but very little money. Above
ali things keep out of debt. Owe no
man anything. BRYAN Tyson.