How did Henry Grady affect the South's economy during the Reconstruction period?

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Henry Grady was a newspaper editor who intended to industrialize the South, since there was a Second Industrial Revolution in America after the Civil War that impacted very positively in the North. Even though he succedeed at some of it with the emerging of textile mills and tobacco factories, the plans for the New South ultimately failed as rural poverty persisted across the region and African Americans were not benefited in the process.