The Souls of Black Folk · ¶290

Two circumstances complicate this development and make it in some respects difficult to be sure of the real tendencies; they are the panic of 1893, and the low price of cotton in 1898. Besides this, the system of assessing property in the country districts of Georgia is somewhat antiquated and of uncertain statistical value; there are no assessors, and each man makes a sworn return to a tax-receiver. Thus public opinion plays a large part, and the returns vary strangely from year to year. Certainly these figures show the small amount of accumulated capital among the Negroes, and the consequent large dependence of their property on temporary prosperity. They have little to tide over a few years of economic depression, and are at the mercy of the cotton-market far more than the whites. And thus the land-owners, despite their marvellous efforts, are really a transient class, continually…

Project Gutenberg ebook 408
Project Gutenberg ebook 408
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