The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1857-11-14

realized fot the prerstl crop The Psaic
in the North, the immense iailu'es In that
section, the pfosifaiion u business, bY
Which Thousands were thrown COS of om-
ployuent, destroy Iug as Il seemed She very
elements Of seeinl Organization the cx'
tension OF lhi. panic to lhe south, tho de'
cline in cotton, and the possibility that the
eontagion might be communicated -
Europe. insolsed affections of a painful
character. Bat light at length bfeaks
through Ibis gloom, and d'.pels the darn
clouds with Witch We hage been en,
compsssCd.
We haze nowhere met. doing lbe pres,
eui monetary crisii, Hi:h A. sensible and sat
isfactory reflection. as ARE contained IN the
subj eined article from the pen af the com.
mcfrial editor of lhs New iors lier.id
Tho prospect. Of so1'hsrn prosperity
vets never greater than they are moss.
It is evident that cotton can only b.
purchased bg sL,pmou's Of ihe r-tc.oas
metals from Emcps. AID when ve nk"
into consideration tast toe present il. likely
to realize ten million. of dolI,rs more thsu
the preceding crop, as - demonstrated tn
the article below. va may justly conclude
no, only dat the paDie vJli b. of sboh
duration, bet tla, Che entire country vii
be, in all probability speedily restored 90
state Of property such a. q hHa never
enjoyed Cotton &. not only hing. boat a
nagician TINT will rssioto tho county from
Bankruptcy to aiiluoeee.
The present crisis teaches two important
and .sluiaty lessons llr.t the value 81
the South and of negro slavery to the
t nion; aud secondly, the Necessity Of
di.countenaucmg every attempt to initiate
the currency. or 10 in,'0r undue specula.
tons, aud TO approximate rs nearly as pas
sible 10 specie basis. Cotton viii al
vsys command gold md silver, and sz
long n, we msintdn curreuc, that is nm
changcpblr. we seed hnve 40 lear If those
6natcfal feyas,ous which afe sueuled
with such vide spread rain to ether cons
munllies
\ very general inquify az present 3.
what sill b. the effect ~ The panic on our
cotton interests. and sill il materially de-,
press the price Of cotton. permanently or
temporarily \, lhis period Of the year
tho enuou grower has 90 friends Vt lbe
openiaQ of The season f1f tbr delYoties ut
the newly grown crop, It, eAtrlt ia mngol>
fed trade is always d'prefscd. goods ate
abundaut. and from the tenor OF Articles
on Tits subject, a dl,iu'ere-led party would
Cad their reasons all 40 plausible that
large ovetstock n, tho cotton dspols 81 the
end Of the year would appesr certain. and
fall IA value to shout one hall or tWo
thirds of the current prices Of The Try np-
resr 20 be as fixed a tact ~ any thug 100 the
tuiure can bee; aud yet, let the cfop Boz
what It may. it all disappears md MS IN the
ease of the past two Seasons. terminates at
twenty five to forty per rent over the sup
posed c1trsvngaury high prices at the
commencement The cause OF his Is q
very simple one--ii is the course o. mas
tufe aud 30 combinations of bauks. cap.
iinlisis. Or manufacturers combined can
Withstand II, for It arises from the Inability
OF the production 10 supply the cousump,
ton. The smudles oi ali Europe, aud he
posIerity or ruin Of thousands, we may
say hnly. Of hundreds Of thousands, %,
millions at people, depont upon the cui.
luta of this aununl plant. IL small pafi
Of tic li''d Siat,si irosts. worms. ant
hundred Of accidents Intervening steadily
between sowing the seed aud picking ihe
CROP, which with al the care bestowed
upon ils culture, aud the Inducements Of
certain sales "a, high prices hus hlien back
instead OF advancing, la ptopnrtion To HE
steady progress ct the consumption Of
goods for which It IA Indispensable The
position Of the plant now growing Is such
"a 10 ieudef large advance on the prices
now current fixed 'Ari provided the
same general causes affecting commerce
prevail tbs season as last season We
s.t. cputrui causes. because the element.
vhich t9im value d tier ,vety }csr-state
st warfare abundant provisions, or famine.
cholera aud other cpldemics. a.. Cotton
advanced ,lrad,i, IN price. tud the con.
sumption was extended in Europe, duHng
the whole t+!usau war and It's Disturbing
elements; aud Sc, the richest merchants
and bW US were ehary of IL al rhe open