The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1893-03-22
SHALL WE SELL OUR LAND ?
An Important Fra in Our History
Important Questions Confront Us
The Certainty Of Real Estate
The Uncertainty OF BOnGs-The
Unproductivenesso of the One and
the PrOfitabIeness Of the Other.

tnprOuuCtaVenCSHO Oh the OnC Rne
the PrOiitabIeness OF the Other.
Abbeville is now Oh The verge Of new err
In her history and the times demand of land
owners their most cuiisiderutc action.
The wispSt and most SagncouS of our clti
Zens are unaole to Sc. lar into the future. ,tnt
no man can tell what II day may bring forth
Fog this reason each man. no matter how
much he may confer with his friends, shoulC
act OH theapprovalo' o. his own Judgment. HI
alone nt last must tuke the Consequences y
his own act.
The building of the G c. t. n. Railwa,
through the limits of our town inspired u!
with hope and gave activity TO our commerct
while eniivenlng all lines OF our business pnr
suits. The cieased railroad facilities no
only gave new lie 10 our own industries anC
to our own mercantile Interests, but the nd
vaniages which we are enabled TO present art
attracting new men and new Industries with
I'm our borders, and they in turn give value tC
and demand for all kinds of property.
Because of this increased demand for houses
aud building lots. the price of real estate has
been greatly raised in nll parts or town.
Some lands have changed hands at the In
creased price, and others are held at It'll high
er figures.
now taking on will warrant the prices now
demanded is q question which the Press and
Banner cannot answer. Each landowner and
each buver must settle that question for him.
SELF Having in the past made so many mis-
takes himself the editor would not assume To
give anybody any advice as to the investment
Of money, but he may be pardoned II he gives
some opinions, based on facts, experience and
II is admitted in the first place that there
will be a demand for anywhere from twenty
TO fifty houses. For the erection Of each OF
these houses anywhere from half an acre 10
full acre " Ill be needed. Nearly all this land
will likely be sought In The neghhnrhood of
the Railroad shops. Mechanics cannot con.
place OF business. The railroad people will
then most likely buy the land lying in prox-
unity 10 the shops. To what extent such de-
,@namd @ can effect lands In the other parts OF
Outside Of the railroad folk the demand io'
building lots Is not great, but there IL SUN.
Client demand 10 give few landowners an OPP
poitunity to find buyer for their surplus
l"uh. and our judgment Is, that when rea-
sonabe price is offered II is well TO sell.
The profit In the normal In crease in the
II there has been any very grea. Increase IN
the value OF lands ou the outskirts Of town In
the last thirty yeaIs we are not aware uf the
fact.
Land is safe property 10 own, hui II IL yields
no income. where Is the profit? Land is the
only real property. and 1t is the only property
which may not easily disappear, but Tor oil
that u is not always most prortabe.
Stocks and bonds of the prOudest States or
OF the richest corporations may some times
become worthless, bul II the papers are prop
eriy drawn, and all the forms OF law are COM
piled with, mortgage OH land Is safe forever
Banks, railroads and manur curing COIN
panies sometimes 60 into The hands or re-
ceiv0rs, and the bonds OF great States and
rich towns sometimes turn out 10 be worth
less.
In the fflies the fathers OF this generation
OF South Carolinians thought 10 build them
State House in Columbia whose splendor and
grandeur would dazzle the eyes OF the rural
citizen and command the admiration OF the
world. To accomplish this purpose and u
crafty their vanity bonds Of the State were
Issued and sold to such Of rur citizens as had
the ready cash with which tn buy.
In the sixties or seventies, by bad manage
ment and dishonest administration Of the
State OF South Carolina had increased to
eighteen millions. The Radicals repudinted
onC-half OF every debt no. matter whether
good, bad or ndifierent-including the State
The Democrats, when they came into pow.
er, reaojusted the remaining nine millions
throwing out some three millions which were
tainted with fraud, but never once opened the
door for those unfortunates who bad been
cheated out OF half the money which had
been lent 10 the State. The Demo
Gratis ratified the net whereby the Radicals
South Carolina to-day refuses TO let these
swinded creditors of the State have a hear
ing in the United States Court whereby the
Government could be made to pay her honest
debts. Instead OF standing as a
monument TO the credit and honor OF our
forefathers, Its floors of marble and its
walls OF granite are a testimonial OF the
BY technicalities and legal quibbes, the
buyers OF railroad and township bonds In
some instances have found that they have
made mistakes-the Courts having declared
that they spent their money for paper which
was w"rthless-for papers which was fair to
the promise and false 10 the performance.
Our eople being rural people and having
but little experience with bonds have been d
Iitle tiuid about Investing In such securities.
Recently tie town Of Ahbpvile issued fif
teen thomsaud do lars " o"th OF bonds for the
In q a uh oh tro fol lyp
Ivy citizens oil the town und county Of Abbe-
Vile.
Now, some seventeen thousand dollars
worth of town bonds " soon be on the mar
ket In aid oi the g., Z. & n. shops. Such men
ns ". . Bradley. ESQ. ". Z. McGowun. Esq :,
Judge Cothrnn and Others have sign fled
Judge Colhrnn, 1t is said. will take pay In
bonds FOR lie land which he sells 10 the shops
While this editor has no advice TO give 10
any one, yet he would show his own faith In
them by Investing something In them.
The pDint " hich we make is, this Is an OPP
portun,ty which does not often occur, and
those cilIzeus who Of their own free will and
accord are willing To put their money In such
bonGs. might fud This a suitable time 10
sell unpr'fi,ab!e band with which to Invest in
these securities.
find an oppol tuniiy 10 Sci! u part OF their real
property aud relieve themselves OF the inter-
cat burden.
While We LeiIc, the pr resent furry In the
price ni land cannot very mater tally affect
the price III land Ut distance from the new
road, and while we believe the pendulum will
swing back. even In that direction, yet we see
10 reason For our people 10 be panic stricken
in any desire 10 part " ith their land.
But We believe If II good bid is made for un-
profitable or unprudurLive property that II Is
an opportunity not 10 be turned down.
They Gun TINS secure money to pay their
debts and stop interest. or II they owe no
debts the opportunity Of O life time Is pre-
sent,d for buying town bonds and bank
stock.
Not withstanding the uncertainty and dan
gers incident 10 such Investments, and de-
spite the tact That land Is the only real prop.
erty, yet IT. may be well sometimes to part
with IL in settlement Of debts or In exchange
for bonds and stocks and mortgages. The
man who owns waste and Improbable land
fails to improve bis talent.
AS the building OF houses Is seldom profit
able investment, except TO the contractor IL
is our opinion that II Is a mistake 10 build q
house to rent AS well undertake TO open q
clothing store with only one coat. 1t would
be either too big or too little, too costly or too
cheap. So with q house. The house does not
suit the renter.
No house in the town of Abbeville-(of the
square)-will bring the money which IL cost to
build, Perhaps sixty TO seventy-tve per cent
of the cost OF The house would be fair price
for the house aud the lot OIL which 1t stands.
But of this Others may know more than we
do. .
According to cur way of thinking 1t would
be Infinitely better for the owner 10 give away
building lot than TO erect dwelling house
on II with view to renting II. One thousand
dollars safely invest ed at ten per cent. will
one year with another, yield more clear
money than the rent OF any dwelling house
In Abbeyille.
Men who lend money generally get rich, but
men who hold unproductive lands and own
dwelling houses to rent. often find 1t hard &c
tr,c1 n md fn