The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1893-08-30
VOLUME XXVIII.---NO. 9.
Concerning Stock.

In these days when the dollar is
skittish and prone to seek the cool
sequestercd hooks of bank and safe
deposit vaults, we the people are
impressed with what a dear de-
lightful thing is credit. In some
respects it is surpassed with personal
appearance by cash, of the hot and
spot varieties, but the fact fingers
that for boon companion to chum
with, in season and out, at home
and abroad, credit is altogether agree
able.
Credit does not inhabit the Southern
States in focks. 1t is rare bird. 1t
settles here, once in while there, but
as general thing it dwells in Northern
lattitudes.
There is no reason in the nature of
things why credit should not be found
in large quantities in these parts but
the explanation of it's absenceis plain.
Credit does not thrive where there
isn't plenty of collateral and that's
what's the matter with the Hannah's
in Dixie.
The capitalistic chappies in the
North despisc to lend money on land
and they don't do it. It takes time
to sell land, it is troublesome to dis
pose Of, it can't be handled fast. 1t
is too unwieldy lever to attempt to
raise money with except with "great
deliberation. Land ownership has
been curions, and perplexing thing
since Adams title to that handsome
place of real estate betwixt the Tigris
and Euphratcs becames clouded.
Therefore your yankee Cresus es-
chews mortgages if there is a certif-
cate of stock waiting to be pledged.
When he wants money he wants it
quick and that is why he seldom lends
it unless on some security that is
available as an asset at moments no
tice.
Southern people should accumulate
"collateral. Farmers ought to make it
a point to take stock in manufacturing
enterprises. They should buy shares
in banks too, but more banks are not
so badly needed as are more factories.
If the man who succeeds in paying for
two horse farm would then buy a
few hundred dollars sworth Of good fac
tory stock before trying to purchase
all the land adjoining his place he
wonld be gloriously Independent.
When the pinch came, he would step
up to the cashier, turn over his secu-
rites, get the desired accommodation,
and escape the humiliation Of hav-
| ing dozen friends decline to endorse
his note.
Our people are rich in land. The
Advertiser believes that the time is
coming when land will pass by assign
ment just as does building and loan or
railroad or other stock and that titles
will be universally cleared. To effect
such reform in the laws will require
the tearing away of the prejudice Of a
hundred generations but it is coming
for the reason that there is nothing
grounded in common sense to prevent
it. But it is weary way off. For
the present, stocks must remain the
basis of credit and every man should
have supply. In periods Of 6nan-
cial depression they are the life pre-
servers or business.
The idea of hardworking farmers
buying stocks may be laughed at but
it is not ridiculous. Hundreds Of far
mers do save money and make invest
ments but the notion among them is
that there is nothing to buy except
land. If that notion could be rooted
out. it would be easier to build cotton
mills, our industries would be diver
sifed and the country's wealth would
| be multiplied.-LaurenS Aduertiser