The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-11-28


trade and industry around him, or at the
course OF the great commercial reyulsions which
have swept over this country at two distiact
periods Of time. The crisis OF 1887 was brought
about by the expansion of the United
States Bank and its gigantic attempt
to control the cotton crop. Its efforts
were more particularly directed to the
South, and when the crisis came the whole
commercial and financial fabric there was rot
ten to the core. With the crash everybody
there was ruined, and SO great was the effect
throughout the country. that even the North
could not recover from il until long series OF
years had passed away, and the South bad re-
| covered, by a succession Of good crops OF cot
ton and other products of its slave industry.
The financial revulsion Of 1857 presents the
| reverse Of this picture. 1t was tho North and
| West that were then rotten, from over trading
and speculation. But the financial condition
| of the South was sound, and the manutac-
tories, mills, forges workshops and trade of
the North, which were stopped by the revul-
sion, were FIRST set again in motion by the trade
| Of the South. Without it We should have Ian
guished for years in idleness and unproduetive
effort to find market for our industry, while
with it we recovered within year, and are
now in the full tide OF prosperity.
] To this prosperous state Of affairs the cotton
! crop alone Of the South contributes vast
amount. The value Of that crop for the present
! year will reach about one hundred and ninety
] millions of dollars Of this about fifty millions
of dollars come to supply our Northern manu-
4 factories, one hundred millions 60 to those
| Of England, and forty millions of dollars worth
/ are taken to the looms of continental Europe
In each Of these sections of the civilized world
! the cotton crop Of our Southern States is the
source Of life to large portion Of the most ac-
tive industry, and the fountain from whence
! spring vast rivers of commerce which quicken
into life other pursuits and occupations in
every part Of the world.
! The evolutionary revolution, which the re-
publican leaders propose to inaugurate, would
strike deadly blow at this vast foundation Of
wealth and values, and cause the whole edi9ce
ITO fall in disintegrated ruins. We have the
commercial and financial example of the fate
Of the British West Indian colonies 1t was
not the sugar planters alone who went down
with the abolition of slavery there--all the
other interests sank too. The merchants and
traders failed, the schoomasters and the min.
their labors and went home; aud, while the rich
! became poor, the poor sank into pauperism
! and degradation The trade which had fostered
! fleets in the exchange of products between
| the mother country and her colonies dwindled
| away; and to-day the once rich portions of
are now looked upon by the merchants, manu-
| faeturers and statesmen of Great Britain as the
| pauper dependencies of her empire. The
| policy which the black republican leaders have
initiated as their party programme would pro-
duce results similar but far more widely felt,
| ever in Its peaceful attainment.
But q peaceful attainment is impossible.
The men of the South are bone of our bone
and flesh Of our flesh. Many thousands of
! them have gone from our own homesteads and
out Of our own midst. Like us they entertain
the spirit of men. They should and they will
defend their rights, and, as we would do in the
like case, they will not wait till invasion comes
upon them. They must and they will prepare
to meet it, and even preparation will strike
deeply at the sources Of Southern industry and
Northern trade. But the moment the sword is
drawn in fraternal strife between the Northern
and Southern States of this Union, it cuts the
vast bond twined by thousands upon thou
sands of cotton spindles in America aud
Europe, and now binding the edifce of
industrial and social values throughout a vast
portion of the world. Shorn Of their national
strength, the sceptre Of industry and power
would pass away from the United States aud
| England, and the rule of the sword would
! again be enthroned over the starving multi
tudes Let every Northern merchant, farmer,
manufacturer and laborer bring these truths
home to his own case, and ask himself what
would be the value Of his property or his labor
on the day that the products of the slave ia
dustry in the South are destroyed.
CANDIDATES FOR OFFICE IN DEcEMBER.-At the