The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1892-04-15
SOLID SENSE.
Main Point Wherein the West
outstrips the South.

From the Real Estate Record and Guido.
Why should not tho South to day Sc
cure share of tho large volume OF
money that is row flowing to the West
and Northwest for investmentin munich
pal and county bonds and real estate
loans?
These sections have long enjoyed tho
favor of certain classes of investors in
the East. The South has been content
to receive only such outside capital as
found it's way directly into industrial
development. This was small in COM
parison with tho vast sums that sought
investment in Western securities
When tho people who had furnished
the West the money for its develop
ment grew luiewarm and began to look
about for something moro satisfactory,
the Western broker instituted cam
paign of advertising to win them back
to their 1rst love They used every
good medium through which to reach
capital Everywhere ono could find I'D
vertisements of Northwestern towns
calling attention to opport unities for
profitable investments in real estate or
local securities.
uOuSuHQo VI pCOPiO VI AhOoOAoOO
means, as we'll as large capitalists scat
tered all over the country, seeing these
offers day after day, sent out their
money for investment at from 6 to
per cent. In this way millions of dol
lars were drawn from the East for in
vestments at far lower rates of interest
than money commands in all the grow
ing towns of the South But it proved
the efficacy of printers ink and the
West reaped the benefit largely.
If there ever was a period in the his
tory of the South to divert for it to its
own investment share OF the West
ward flow of capital now is tho time.
The West has in some States and in
certain classes of security demonstrated
it's inability to carry the debt which
Eastern capitalists have made it so easy
to assume. Eastern money-lenders
have been pretty hard hit.
The West lacks the basis to justify
further absorption of surplus Eastern
but it has the precedent and the
machinery, while the South has the
basis, but lacks the machinery" tersely
remarked largo capitalist of New
York this week, in speaking of the
future growth and development of the
South.
1t is well-known fact that the West
Ills the advertising mediums with in
gestment offerings. The South untor-
depends almost entirely upon
ocal capital. And yet no section was
sver in more favorable situation to
profit by borrowing heavily and to give
The lender absolute security and good
'ates of interest.
A plentiful supply of money 10 tho
'ne thing needful for the rapid advance
nent OF the South. The unprecedented
cotton crop this year of over eight mil
ion bales and the low prices that now
prevail for the staple has been tenn
oorary drawback to this years progress
md development, but il will teach
essen in diversified industry in the
uture.
That part OF tho vyssS v}ich ngurrs
most largely 40 borrower 10 purely
agricultural region, and yet 10000, 0OD
acres of cotton in the South produced
almostas much value as IS, 900, 900 acres
If corn. The South is par excellence
The agricultural region of America.
But it has, besides, all other resources
If this or any other country.
Money of course is always slow to
change channels, and it is not to be ex-
,ected that its diversion can be brought
about in day; but the time is coming
when the South will be vastly more
avored field than the West was in its
days.
The only limit to the growth OF wealth
n the South, whether in it's amount or
he rapidity with which it can be Gre
lted, is the profitable exchange of sur
plus products between people employed
n different work. Distance is the fric-
,ion-the lost power-of commerce.
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