A Brief Historical, Statistical, and Descriptive Review of East Tennessee, United States of America (Electronic book text)

Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. Excerpt from book: To The Capitalist. The East Tennessee Lands offer great advantages: since, in lieu of investing in Foreign Securities, and State Bonds, yielding a return of from five to seven and a half per cent; or English " Green-field Security, '' yielding two and a half to four per cent.; the Tennessee lands, even under an imperfect mode of farming, more than double these returns, and that too with " Greenfield Security." The only present tide of Emigration to Tennessee, proceeds from a slow, but unceasing source, and speaks loudly for the ultimate and increasing value of the Tennessee lands. The Eastern Pensylvanians, where improved Farms are worth from a hundred to a hundred and fifty dollars per acre, and even a hundred miles'West of Philadelphia on the Harrisburgh route, from a hundred to a hundred and twenty dollars per acre, sell out to wealthy Merchants and others; they again, buy out the Western Pensylvanian; he buys out (he Eastern Virginian; the Eastern Virginian buys out the Western; and the Western Virginian the Eastern Tennessean, the price and value of land increasing as the stream flows onward: as a proof of which, the lands in the two upper counties of East Tennessee (Sullivan and Washington) have within the last few years been gradually settling by the Western Virginians; and lands in those counties, from no other cause, are rated fifty per cent higher than in Jefferson and Blount Counties. To the Practical Farmer, who, with a capital of from 1,000 to 10,000 sterling, is enriching and embellishing the lands of another, Tennessee presents great inducements; for, with the latter amount, he may purchase a a most princely domain, with its natural park its broad, bold, and limpid streams its mountain back ground its rich alluvial River Bottom Lands its fertile meadows, and ever-green pasture...