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Story
July 5, 1839
Cheraw Gazette And Pee Dee Farmer
Cheraw, Chesterfield County, South Carolina
What is this article about?
A letter from Georgeville, Mississippi, dated May 10, 1839, describes widespread insolvency due to speculation, plummeting land prices from $30 to 75 cents per acre, abandoned lands, and poverty among former wealthy planters, urging purchase of cheap land.
Clipping
OCR Quality
98%
Excellent
Full Text
From the Edgefield Advertiser.
Extract from a letter received by a gentleman in this neighborhood, dated
"Georgeville, Miss. May 10, 1839.
"You would be astonished at the condition of things in this State. It is difficult to say, who is solvent, there has been so much speculation. Negroes sell pretty well in this county, but land, which a few years ago brought $30 per acre, now sells for seventy five cents. There are, to my knowledge thousands of acres of good and fresh land, without cultivators. It is not uncommon to see men, who recently were worth 50 negroes, reduced to poverty. I think that there will be many emigrants from the old States, next fall. Now is the time to buy excellent land, cheap."
Extract from a letter received by a gentleman in this neighborhood, dated
"Georgeville, Miss. May 10, 1839.
"You would be astonished at the condition of things in this State. It is difficult to say, who is solvent, there has been so much speculation. Negroes sell pretty well in this county, but land, which a few years ago brought $30 per acre, now sells for seventy five cents. There are, to my knowledge thousands of acres of good and fresh land, without cultivators. It is not uncommon to see men, who recently were worth 50 negroes, reduced to poverty. I think that there will be many emigrants from the old States, next fall. Now is the time to buy excellent land, cheap."
What sub-type of article is it?
Historical Event
Curiosity
What themes does it cover?
Fortune Reversal
Misfortune
What keywords are associated?
Economic Depression
Land Speculation
Mississippi Economy
Poverty Reversal
Cheap Land Opportunity
Where did it happen?
Georgeville, Mississippi
Story Details
Location
Georgeville, Mississippi
Event Date
May 10, 1839
Story Details
Letter details economic turmoil in Mississippi from speculation: insolvency widespread, land prices fallen dramatically, good lands uncultivated, former wealthy reduced to poverty, slaves still selling well, anticipates emigrants and advises buying cheap land.