Staunton Spectator
John M. Botts and his Traducers
For the Spectator
Excerpt:
The Negro Fever
Full Text of Article
There is a perfect fever raging in Georgia now on the subject of buying negroes. Several sales which have come under our eye within a month past, afford an unmistakable symptom of the prevalence of a disease in the public mind on this subject. In view of the fabulous prices offered for this species of property, reflecting men are led to the inquiry, what is to be done to supply the deficiency which is produced with us by the great demand for negroes in the Southwest? We are unable to give any satisfactory answer. But, so far as the effect which these high prices are to have in our own State is concerned, we think we can truthfully say the fever will soon abate in a very natural way. Men are borrowing money to day at exorbitant rates of interests to buy negroes at exorbitant prices.
The speculation will not sustain the speculators, and in a short time we shall see many negroes and much land offered under the Sheriff's hammer, with few buyers for cash, and then this kind of property will descend to its real value. The old rule of pricing a negro by the price of cotton by the pound--that is to say, if cotton is worth twelve cents, a negro man is worth twelve hundred dollars, if at fifteen cents, then fifteen hundred dollars--does not seem to be regarded. Negroes are twenty-five per cent. higher now, with cotton at ten and a half cents, than they were two or three years ago, when it was worth fifteen and sixteen cents. Men are demented upon the subject. A reverse will surely come.--Federal Union.
For the Spectator
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Died
Died
Advertisements; bottom left illegible.