It may be well to consider a typical comprehensive appeal for domestic
capital. For this purpose a leading editorial in The News and Courier
asking support for the Charleston Manufacturing Company is particularly
useful.[192] In the first place, this company marked the entry of
Charleston into the field of regular cotton manufacture, and the
enterprise took firm hold on the interest of the city from this cause.
Also, South Carolina experienced the cotton mill campaign as a movement
more highly conscious than in any other State; Charleston was the center
of the campaign, as spiritual leader no less by reason of her sufferings
than her heroism, and the News and Courier was the mouthpiece of
Charleston.
To begin with, the editorial, headed "Everybody's Opportunity", sets forth
clearly the division of arguments: "The Charleston Manufacturing Company
addresses itself to the citizens of Charleston in a double capacity:
_First_, as a means of making money for the stockholders. _Second_, as a
means of enlarging the common income, stimulating the growth and
increasing the prosperity of the city."
Proceeding under the first of these heads, it is pointed out that the mill
will succeed because the management, in the hands of men known for their
business sagacity and activity, will be both economical and progressive.
There is no doubt that, along with other appeals to local resources,
confidence in the projectors of a cotton mill, as personal acquaintances
and men whose whole lives were familiar knowledge in a small community,
had a powerful influence. Next it is shown that the profits of the South
Carolina mills for the year 1879, probably the last available for
citation, warranted a belief that the Charleston mill would succeed,
having at least as good a chance as county plants. These profits had
ranged from 18 to 25-1/2 per cent. It is explained that steam power will
be used, but that it is used in England, and that the trend of the better
opinion is toward steam power rather than water power, as being more
reliable and capable of better control. The approval of steam by the
superintendent of the Camperdown Mills at Greenville in the same State, on
these grounds and also because he knew that the Northern mills using steam
made larger profits than those using water, is instanced. It is evident
that the necessity of employing steam power, instead of being able to use
the water power of the interior, was a hard obstacle to get over, for
recurrence is several times had to it in the course of the argument, and
the great advantages of coastal location are stressed as a
counterbalancing consideration.