[148] "What the South should do is the caption that graces the editorial effusions of all classes cf papers, and especially those of our own deeply solicitous and anxious friends of the North. Many of us think we know. The South should depend upon its own virtue, its own brain, its own energy, attend to its own business, make money, build up its waste places, and thus force upon the North that recognition of our worth and dignity of character to which that people will always be blind unless they can see it through the medium of material, industrial and intellectual strength. We may proclaim political theories, but it is the more potent and powerful argument of the mighty dollar that secures an audience there, and the sooner we realize it the better for us." (News and Observer, Raleigh, N.C., Nov. 27, 1880.) [149] Editorial in News and Courier, Mar. 9, 1881. [150] It is interesting and pathetic to observe how unaccustomed the South was to the most obvious facts of business. Concentration upon one crop had precluded from the Southern mind--speaking in the aggregate, of course--the first reasonings springing from diversification of industry and from ordinary competition. But once the necessity for a different attitude became apparent, the statesmanlike manner in which this was pressed must provoke admiration. The article in J. D. B. DeBow's "Industrial Resources", etc., pp. 124-125, presents the consideration that the cotton crop of Tennessee, amounting to 200,000 bales, 90,000,000 pounds at 6-1/2 cents an average pound, gave the producers 11-1/2 per cent. profit on their investment, while the manufacturers of the same crop made 24 per cent. profit--more than twice as great. "Are there any so blind as not to see the advantages of the system?" Much earlier Southern statements of the true fact from manufacturing cotton was to be found, but in the delirium of the latter days of slavery these were lost sight of. Wm. J. Barbee, in his "The Cotton Question" pp. 138 and following, commends for the reflection of capitalists in 1866 the "Manufacture of Cotton by its Producers, suggestions of S. R. Cockrill seventeen years ago." Cockrill speculated as to the gain to be derived from cotton mills in the cotton states, and said: "Facts like these should fix the attention of the cotton planter, teach him his true interest, and stimulate him to become the manufacturer of the product of his field, instead of permitting others to reap the entire profit." [151] News and Courier, Feb. 2, 1881. The editorial appeared apropos of the opening of books for subscriptions to the Charleston Manufacturing Company, which occupies a prominent place in the history of cotton manufacturing in the South. The editorial concluded: "This is the logic of the investment of money in cotton mills in Charleston. It will pay the stockholders their ten or twelve per cent., and the city at large will get a dollar's profit on every dollar's worth of raw cotton that the mills consume."