Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-01-12
BUSINESS IN The SOUTH.
A Visitor from New York saw Many Evi-
deuces ola Revival.

John Swami. of Inmau. Swami & CO..
of New York. has just returned from
trip through the South. and In response
to questions Of the condition OF business
and financial interests In that section ne
said:
II was surprised and much encouraged
by what | saw and heard while was
In the South. Cotton Is doing well. new
mills are being put up. the railroads nave
already begun % show the effects OF
the new revival OF business. and there IS
a strong feeling OF confidence among Dusl-
noss-men I'm all the States in when /
came in contact with them.
Il think the reason for the carry re-
ylyal OF business * TO be .ouni ~ toh1i-
tiOns which prevailed TWO or thr'' ~
ago The South had been having t'tld'd
boom and not being In very good circuit
was affected by the Barring failure be
fore the North began to feel II. .Iluida-
ton came earli e. and - was nearly
finished when the silver panic finally came
20 head. 49,.
In short time people Gill geo the
GOOD effect of the liquidation brought
about by the panic. The only interests
which have been permanently injured are
those which deserved IT, The South would
undoubtedly have suffered from the mia
tion Of values, even n the panic had not
D. come when II cd. Now the boom towns
and inflated mining interests have heen
forced hv liquidation 20 a Commoh-sehse
basis. and the process has been tof te
General good. Heroic trcatm NJ may h'h
some of the patients. but II helps me rest
"The legitimate mining and manut1ctur-
ing interests however, are luicklN>- Cow
ering from the shock. Twelve years ago
Mr.. Abram 5. Hewitt IN whose judEmeht
have very great confidence predicted
fira birmingham -fil@-
trict iron would be produced more cheaply
than anywhere else In the world. HIS pre-
diction Is already verified With this iact
established | cannot understand Wny le'-
ple should want n tariff 10 keep IN blast
their less-favored competitors. IL seems
10 me that il would be TO their interest
that badlv-locatcd plants should lot Toe
fostered by a tariff. simply To o"npet'
v.ith them when the price of iron is E'rh.
t.,,en In these days. when there is hardly
any money % be- made IN iron the bH-
mingham industry Is running night Gl'ng
and profits are as good as could b' eN-
pccted
Il cannot see how the Wilson bill can
rossibIy iniure the South. The U1terihl
interests need no artificial protectJn' hd-
, ture has provided for them. inc mn
should, in my opinion, contain a PROVISION
FOR q Ieht tax on sugar and cor .es. foT
q
without being felt The opinions rave
heard from people in me South show CON
clusively that the general feeling Is not
I one OF dislike OF the bill, but merely a
sentimental dislike OF change. and appre'
hens,on of its bad effects. What Is most
necessary is speedy action. uncertainty
causes nearly all the opposition "hlch mas
been made % the measure. But uncer
taintv has not had such an effect as Is
noticeable throughout the North. No un-
usual number u factories have been smut
down. and the early revival or business
* already causing them 10 start up.
"The general situation is most enconr-
aging. The farmers have in the past year
or two begun % raise more wheat ana
50 are made Joss dependent on the sale
Of their cotton. while money Is more
abundant. An Indication of their I'M
proved condition and of the prospects Tor
this years crops is shown In the almost
uuprecad,ntcl demand FOR fertilizers. M'r-
chants IN general trade report good col
loctions. and the showing Of the railroahS
ls already a mark OF returning prosperity.
Pank statements are uniformity good anl
money for investment is pientiful ana
cheap. There are numerous indications
also that good share Of this capltal
comes from other sections of the couh-
f fry "