ore untrue. Peoples do not in one generation or in two rid themselves entirely of characteristics which have been developing for centuries.
The phrase had a specific meaning for Henry Grady, as he explained in an article in Harper's Magazine. Grady noted first that the South had changed and that some of the changes were for the better while others were damaging. He noted how the abolition of slavery had meant the end of the large plantations, which were broken up into smaller farms, while still other small farms had been started by poor whites. This was a major economic shift for the region. The high price of cotton had spurred increased planting of this staple. In order to get enough money to plant this crop, farmers gave liens on their crops and often mortgages on their property and chattels, which meant that his credit was gone. The system of credit that existed was very poorly designed for the farmer. One of the elements Grady wanted for the New South was the establishment of a proper system of credit, but this would have to be accompanied by
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