New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-01-29
CHRONIC REPUTATION.

The great currency explosion of 1887 was the
finale long foreseen and constantly proclaimed by
prophetic statesmen of the time The Treasury
charlatans who practiced their necromancies at
Washington, had promised the country deluge
of gold, instead Of which they gave it deluge Of
rags. If the shnpla,ter nuisance which they
brought upon the North was rank enough to
smell to heaven in the South it was perfectly
horrible. Almost every little Southern town issued
its small notes The great cities, as they there
call them, did the same, only on a larger scale.
individuals, merchants tailors doctors, and small
shopkeepers followed suit. Private corporations
Wed with all these in seeing who could circulate
the greatest quantity, though in the end there was
q woefu lack Of competition n to who would
most honorably redeem his Issues. II will be re-
membered, too, that it was a hard money Gov
eminent which then ruled; yet even the Southern
post-ofiices issued shinplssters, though they ex-
acted coin for postage. This was done in Florida
by the Tallahassee Postmaster. The city OF Pen.
sacola issued them largely, and contracted
debt of some $500 with Northern printer for
manufacturing its notes. Whether il redeemed
long went begging for his money, and finally real
lied from his typographical crcdulity the mag
niicent and only dividend Of $50. Such was the
pecuniary condition of Florida during the carni-
val Of rags only twenty years ago.
But this was merely the sharp practice of her
twopenny corporations. When Florida herself
undertook 10 play the double-shuile game over
al h.o aha did n Iar0alv nd
successfully. The South at large is tolersby
famous for reputation. But in this science Flor
ida developed a genius peculiarly her own.
While yet territory she plunged into railroad
building and internal improvements generally.
Though without money, she yet had credit
enough TO find buyers for about Si,0OOSOO Of
bonds Banks were chartered, work and cur
rency were plenty, and all who composed her
then feeble population seemed to be growing rich.
But il was borrowed riches only. Even the mil
lions spent within her limits in expelling few
Indians were Of no avail. The interest on her
bonds went unpaid, her banks failed outright and
the explosion was general. Northern creditors,
as usual, lost their claims, without the help Of
superiluous stay laws.
This bonded debt remained unpaid when Flor
ida came into the Union as u State. As if to
prove chronic love of fraud the Constitution
contained clause prohibiting the State from
assuming the debt Of the Territory. This shut
the door in every creditors face. They have
come and sent from Europe, vainly knocking ts
have it opened; and by this time, without doubt,
have abandoned their just claims as hopeless.
Now, it must be observed that this cheat is
deliberate one, without even the excuse of the
inability to pay because Florida has received
IL, 900, 600 Of acres from the General Govern
ment, one quarter Of which the creditors would
probably have been glad to take in satisfaction
of their bonds But, instead of using them as
a basis of compromise, they were made the basis
of q new issue of bonds for q new system of
internal improvements. Railroads were surveyed
and built by Northern men, who took bonds in
payment. Some of these may have gone to Eu-
rope, but the bulk of them are probably still held
among ourselves. Whoever the holders may be,
reputation now stares them In the face. The
State debt promises to be as worthless as that of
the Territory. The parties who owe this debt
railroad officers and acknowledgements the active
men in urging the State into Secession. The
presumption is irresistible that their moving i'm.
pulse il to use Dsunon as the convenient stalk
horse for perpetratng another atrocious fraud.
BY her census in 1855, Florida was shown to
contain llO,S2S inhabitants, of whom only 60, i93
were whites, while her slaves numbered AZ, 526,
and her free colored persons were SO4. In 1850
her whole manufactures were worth 1924, i95;
agricultural products only 1886, O59; and the
assessed value of her whole taxable property
S23, l9S, 1874 Her railroads extend only 100
miles. Though she numbers fewer merchants
than any other State yet the debts Of those who
failed last year amounted TO 100000. Her
mails are carried ut an annual loss to the Depart
ment Of $l67 900. The Government spent $50
600, 900 or more 10 clear her territory Of Indians
because her people alleged that their presence
etarded population. But her population continues
meager, and increases slowly. Without tho aid
Of Congress the alligators would have devoured
the people; and il but dozen Seminoles could
be again domiciled in her swamps her popula-
ton would be seen to be incapable Of selfProtee-
ton. Yet with all tLs mountain Of debt, ackhow