Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1854-10-26
THuRsDA Y. OCTOBER 30. 1884
Commercial Affairs Of the Country.

that money matters are gong 10 De
tighter, during the next twelve
months, than they have been in this
co untry for many years. The failure
of the provision crop all over the
Union, and the inevitable shortness
Of the cotton crop, have been the sub
jects Of remark from Maine to Geor-
gia, and yet none of our exchanges
seem to have arrived at any settled
conclusion in reference to the matter.
The New York Day Book, of late
date, has a good article on the sub.
ject, After looking itover and care
fully examining it, that paper has
come TO the conclusion that
"Those who have debts to pay and
pecuniary obligations to fulfil, will see
harder times the coming winter than
they have ever seen yet. We do
not think that provisions and bread
stuffs will be as high as they we're
last year, nor that working people
who have employment will find it as
difficult to make the two ends meet
as they did two winters ago.
.'Our reasons for so thinking are,
first: There will be no foreign demand
for our pork, beef, or -four, nor will
California require anything in the
shape of provisions from US. In Eu-
rope the crops we're never better than
they have been this year, and the
yield of California wheat, Indian corn,
and potatoes, will enable that State
to export breadstuffs. Of our man
ufactured goods she has also an
abundant supply, and will therefore
want nothing from us, for which she
will give US, as she has been DOING
millions monthly of her golden treas
ure. This fact alone will make mon
ey scarce in the Atlantic Cities
But this is not ALL We have been
running in debt 10 Europe for M ore
than two years for dry goods, laces,
silks, satins, jewelry and other luz u-
ries and gewgaws, far beyond our
means Of payment.
GAS we are dependent on California
for gold, and have nothing that Cali
f6effia wants to give her for that gold,
and as Europe wants nothing of US
but gold, it seems to US that we are
going to be in pretty tight quarters,
and shall most probably be obliged to
ask little extension of our debts.
"The drouth has not so entirely cut
off our crops but that we shall have
enough to eat, but how are we going
TO pay our debts? That is the most
troublesome question. Neither those
we owe nor those from whom we have
been getting specie want our pro-
duce, and what is to be done? Why,
those We owe must take our railroad
bonds, and wait until those from
whom we get our specie do want our
produce.
at was a great mistake we made
when we got over head and ears in
debt to Europe ought not to
have done it. We ought not to have
built SO many large and expensive
stores, nor such magnificent and
costly dwellings as we have done-it
was all wrong. We have gone ahead
too fast. We live too high; our
wives and daughters dress too ex-
travagantly, they outvie the prin-
cesses and duchesses of Europe, and
and go ahead of the most aristo-k
cratic ladies of England and France
We must come back to the starting
point, to the very mark where We
stood fveyears ago; when we get
there we shall be all right again.
The retrograde movement has begun,
and it is useless to whine and vince
about it. Back We must go; but this
kind Of Jordan am hard road to
travel
"Tbe question is, will we be any
better for being set back Gas Sam
Houston would say five years? We
Ire afraid not. The cod fish aristoc-
,aey of this country are bound to
lpe the fashion and extrayagance of
Europe, as long as they can possibly
lbtain the means, and we b ave but {
title hope that hard times will do
more than pull down one set and
aise up another equally as silly
This is a matter, however, which
Ices not affect the interior of the y
ountry so nearly as it does the cit e
es, and we shall sit quietly by and P
ee the fun c
The entire delegation in the next f
congress from Ohio, twenty -one in o