The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1857-11-27
THE WHOLE STORY.
sAsrE n ur AND nEAD IT OFTEN.

- N Ann WnOhc 0lOnI.
l. rAsrE n UP AND READ IT OFTEN.
| The Pittsburg Dispatch says, the balance
eftrads against Us, during the current ysnr
having TO be adjusted in cash, Is more than
one hundred and twenty millions Of dollars
And what caused this excessive importation
Of articles ofmerchandze, the most Of which
we ought to have made ourselvssl Com
mon sense tells IFS that Il is the Tariff III.
cy which has prevailed since is47. AID
who dictated this policyi The South--the
growers Of Cotton, whose great staple find
it's chief markets in England. And who
enables this single interest, this small minori.
ty Of the American people, to control .he
policy of the Government In respect to this
most important Of our material intsrestsi-
The so-called Democratic party.
Three times, now, have the foundations OF
our national prosperity been undermined
precisely In the same way. From the close
OF tho war with Great Britain 10 1916, until
1894, we had period of free trade and
large importation, and some of US are old
enough to remember the distress and utter
pros,ration of the country during that shin.
plaster period, when wheat was less per
bushel than oats have been 10 ordinary good
times, and when ten bushels of oats were
often sold for one dollar cash. Well, in
1924, a protective tariff law was enacted,
and the country at once began to recuperate.
The currency soon became good, exchange
regular and very low, manufacturing es:ab.
lishments sprung up everywhere, and the
farmers, having home Market began to
prosper too. Perhaps there never was a
more smooth and comfortable time since we
became nation.
-Four years afterwards, (ls2s,) so pleased
were the people with the protective policy,
that Congress was induced TO make il still
stronger This led to violent opposition on
the part of the cotton growing portion of
our people, and ended in the Justification
movement in South Carolina, and the unfor-
tunate Tariff Compromise of 1882, by which
the rates of import were slowly reduced, un-
til, in 1870, they should be only twenty per
cent. Most of us remember the crash of
1887, and the distressing depression that
followed, and which was only relieved BY a
return TO the protective policy in 1912.
10 1916, the policy was again changed
In ls47, the famine in Ireland, and a general
scarcity in Europe, gave us high prices for
our surplus breadstuffs, and that bore us
very well over one year. In ls4s, gold WINS
discovered in California, and that kept us
up for few years; but all things find their
level, and they have found it, for we now
see that sixty or seventy millions of gold,
which costs as, much labor MS il is worth, is
swallowed up and lost, like our cotton, 10.
bacco and -four, in the overwhelming flood
of European fabrics which the present free
trade policy pours upon us.
Il To sum up single sentence, zoe haue neu.
er had a general breakdown under the pro.ec-
tine policy; nor have ever recovered from a
reverse like the present ercept by the return
to protection. These are hlstorcle facts.
river BAsK.-The following letter is from
one of the officers of ths River Bank, Mem
phis, dated Nov. 10th: y y. ~ E...s -.
Dear Sir: see you publish a list Of bank
notes received at Nashville, in which the
River Bank does not appear. All banks
which keep constant deposit Of from $4,000
to $4,000 with the old banks there, can
have their notes quoted at par, and these old
banks levy this contribution on all other
Tennessee banks, and those which will not
submit to it,havet their notes discredited. The
River Bank pays black mail to no one, whe-
ther levied by bank note reporters, or over
grown monied monopoles. She pays her liza
bilities in coin, at the counter--has FEVER vet
failed or even hesitated to do SO, reports to
the contrary Notwithstanding, and can and
will continue 10 do so, have not the least
doubt, as long as she preteDds to do bust
ness. ...,. J. W. C.
eW- The papers East are rife with specu-
Iations in regard to the policy that will be de.
veloped by the Administration, at the open.
ing Of Congress, upon the subject now most
engrossing the attention OF the county,
The following is among the latest:--
at is rumored that Mr.. Buchanan, in his
first annual message to Congress, will take
bold ground on the currency question; that
he will re-affirm the principle laid down so
clearly in his elaborate speech on the indie.
pendent Treasury bill. He believes that il
was the intention of the trainers of the Con.
stitution 10 establish hard money currency,
and that the action Of Congress- since has
been steady departure from that intention.
1t will be his object, then, to rstrace the false
steps taken, and to bring the Government
back, to the true ground.
"The issue will be made in the next Con-
gress wheiher State banks hare the constitl-
tional po,oer 10 issue circulating promises TO
pay There will be n large party to take the
negative of the argument, who will not, II is
said, yield until decision has been given on
the question by the Supreme Court Of the
United States. A general bankrupt lao for
the banks ioiH be presented for action. They
will provide fixed legal course for putting
into liquidation insolvent banks all over the
Union"
Hoes.-The Cincinnati Gazette Of 18th
says
| The market for hogs may be considered as
having opened at $5,50aS5.75 per 100 lbs.
net, and at present these figures are firmly
sustained, with more faint indications of a
lower currency than were observable week
ago. Most Of the hogs that have arrived 90
far, or will come forward up to the lst of
December, will be required to ill contracts.
The markets for products opens more favora