FLOYD COUNTY, GA - NEWSPAPERS   What Will They Do With the Money 1869

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From The Rome Courier, January, 1869:
 
What Will They Do With the Money
  
There will be, by the first of March, be more money in
this section of the country than was ever known
before. The cotton crop will sell for nearly as many
dollars as it did in 1859-60 and now it cannot go for
negroes and will not for land.Hundreds of planters in
this and adjoining counties have now in hand from $100
to $5000 and feeling sort of good over it, but really
not knowing what to do with their money. They keep
very quiet about this matter and do not entrust the
secret to their most intimate friends. Some have
exchanged their greenbacks for gold, and it is known
that over $75,000 in gold has been carried home by
planters trading at Rome in the last 6 or 8 months. If
all these men who are thus hiding their money only
knew that so many others were doing the same thing
they would realize the folly of their course. And all
this money should be, at once, put to some good , safe
and profitable investment. There is now no danger of
any immediate great financial crash, and with Grant's
inauguration confidence in the stability of our
government will be strengthened and the probable
prosperity of the country will be increased. Then why
"hide your tallent in the earth" when all the dictates
of reason and duty command you to use it.

But our present purpose is to suggest a safe and good
investment for planters and others having money. It is
this: form a joint stock company and erect, at some
good location, a cotton factory, and go into the
manufacture of yarns and domestics. This will, if
properly managed, give you large proffits and be of
great advantage to the entire community. If you do not
engage in some kind of manufacturing, what will you do
with your money? It is time you were thinking upon
this subjest, and talking about it with your friends
and neighbors. Will you buy railroad stock or state
bonds? The value of these is almost as precarious and
vastly less promisng than factory stocks, and their
ultimate value depends upon the good faith of parties
beyoud your controll.

The planters of Floyd County, as we believe, can raise
$100,000 by the first of March, with which to build a
cotton factory. Polk, Chattooga, Bartow, any other
counties can raise nearly or quite as much. Why not
start a Planters' Factory, in each of these counties.
The proffits of cotton factories at the North are
immense and they might, here, be 25% greater. 

We find in exchanges the following statement of the
prices which $100 worth of stock in the several
Northern factories named, brings when offered for
sale:

  Androscoggin Mill, par value $100 185
  Pepperell Manufactoring Company, $100, 1,105
  Pacific Mills, par $100, 2,106
  Nashua Company, par value $100, 755.
  Stark Mills, par value $100, 1275
  Chicopee Manufacturing, $100, 275.
  Salisbury Manufacturing Company, par value $100,    270 1/2
  Boot Cotton Mills, par value $100, $1,080
  Laconia Manufacturing Company, par value $100, 1,200
  Amoskeag Manufacturing Company, par value $100, 1312 1/2
  Great Falls Manufacturing Company, par value $100, 215.

It will be seen, says the Augusta Press, that their
stocks command from two to twenty times their original
cost. That is caused by the great profitableness of
the mills. 

Why cannot we have such mints in Georgia? Our labor is
as cheap or cheaper than it is in New England. Our
water power is unexcelled and we will not be compelled
to pay the freights which they pay. Isn't it rather a
comfortable reflection that $100 in stock will bring
the snug little sum of $2,000? Are our people willing
that all these proffits should remain there? If they
are not, let them neglect no occassion to encoureage,
by every means in their power, the Northern
capitalists to pitch their tents among us.