Editorial Notes and Clippings [pp. 484-496]

EDITORIAL NOTES AND CLIPPINGS.
suits of his observation during an extensive tour in the South:
The curious aspect is presented in
portions of the Southern States of a
part of the country needing supplies
of merchandise which are plenty in
other parts, but unable to obtain
them even at large prices. For example, hay is an article in great demand in parts of Georgia. It was
selling by the bale in Augusta a few
weeks ago at $4 a hundred. Notwithstanding this high price, the
ordinary rules of trade fail to operate,
and there is no flow of the highpriced article to supply the demand.
On looking into the reasons for this,
we are plainly compelled to attribute
it to the great characteristic fact that
the South has neither money nor
credit on which to undertake business. "Why does not a vessel load
of hay come here at once?" The
answer was, "If a Northern man
wishes to sell hay here, he must come
down with his load and peddle it out
bale by bale, unless he is willing to
trust us, and as few are willing to do
so our supplies are short." This incidental illustration tends directly to
the great and prominent point which
is worthy the attention of Northern
men, namely the openings for Northern capital in the South.
There was never offered to capitalists a more promising field of investment. It needs only a visit to convince
them of this, and they will be welcomed with the utmost cordiality,
whether they come as visitors or as
residents. It matters nothing what
is the political faith of the Northern
man; Radical or Conservative, he
will be welcomed and well received,
The published statements to the eon.trary of this are absolutely untrue.
If a Northern rowdy gets drunk in a
Southern hotel, becomes riotous and
receives deserved punishment, it is
generally published in the North as
an instance of Southern ill-treatment
of Northern travellers, All classes
of the people, old and young, are impressed with the conviction that they
need Northern visitors and settlers
among them.
We have seen in several instances
groups of Northern travellers conversing in hotels with Southern men
where in the course of the conversation it appeared that some of them
had been soldiers on opposite sides in
the same battles, and the course of
the battles formed at once the subject
of animated and interesting conversation, but in no instance was there
the slightest insult, ill-feeling, or passion displayed. We have seen similar conversations between civilians,
where the subject was the loss of
near and dear relatives on opposite
sides of the contest. In short, the
war has already assumed in the
minds of men a sort of historic aspect, its results are accepted as conclusive, and no one dreams of ever
again opening the questions involved.
One of the best societies which
could be formed now would be a benevolent society to promote intercourse between the two sections. It
is not the expeditions of political
speakers which will do good. It is
the visits to the South of honest
men who have no political ends to
serve which should be encouraged.
We speak of the openings for
capital. These openings are of two
classes; the first in the way of loans
of money, the second in the way of
purchases of property. There is, of
course, apprehension on the part of
Northern men that the values of
Southern securities may be overestimated. But we are persuaded
that there can hardly be a lower
depth than has now been reached.
Certainly it is impossible that tihe
real estate of the South can ever be
worth less than it is now offered at.
There are no better securities in the
world than are now proposed in
bonds and mortgages on Sou.thern
real estate.
The margins are ample on the
present low valuations, while they
are from four-fifths to nine-tenths
of the value of the property eight
years ago, We have seen improved
property of the best class, which was
saleable before the war at $60,000,
offered now for $15,000, and a loan
asked on it of $8,000, without a
taler, We have seen plantations
formerly worth ten dollars an acre,
including cleared, swamp and timber
land, now offered urgently at one
dollar and a quarter an acre, without
finding a purchaser. The general
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