Baltimore daily commercial. [volume] (Baltimore, Md.) 1865-1867, 1866-05-21
THE DANGERS THE NATION HAS ES-
CAPPED AND THOSE 1T HAS YET TO
FEAR


Capitol, devising new disabilities and punish
ments, new modes of depressing the people of
the South-loyal as well as dsloyal-they
seem not to reflect at all upon the possibility
of having these mischievous devices return.
finally, to plague themselves and their con-
sttuents. Only the other day it was stated.
that the trade Of Boston with the South had
suffered perfect 'collapse;' but we have
not heard that Wilson and Sumner have re-
garded it as any admonition to desist from
their mischievous propensities in alternating
still further the two sections.
There was a time, however, when the most
blinded by fanaticism and anger, could see
that it was for their interest to look to the
South for relief from national troubles; and if
we are not greatly mistaken, that time is fast
coming back upon us once more. We referred
to this, recently, in showing what the heavy
export of cotton has done to balance accounts
with Europe, and thus preserve the national
credit; and we say the time is at hand again,
to set even the most reckless to thinking,
when within few days past one steamer takes
abroad ''three millions in specie, another
''seven hundred and fifty thousand" and yet
another ''four millions!'
Now these are sturdy and alarming facts
which cannot be gotten rid Of by any pedantic
harangues from Charles Sumner, any phian-
thropic pronunciamentos from James Wilson,
or any fierce and foolish TRADES from Thaddeus
Stevens. And when these one-sded and i'm
practicable politicians have led their constitu-
ents and associates far enough astray to again
endanger the financial stability of the nation.
it may be they will see their errors-however,
for all concerned, it may be too late.
One of the latest complaints against the
President from that side is that "among his
earliest acts Of reconstruction he ordered the
sale OF Government railroads and railroad
running stock, iron, materials to an enor-
''mous amount to Southern men on credit:''
-but-we may as well give the charge in full
from the Tribune, which is as follows:
Without the authority of law. President johnson,
among his earliest acts of reconstruction ordered the
sale of Government railroads and railroad running
stock, iron, materials to an enormous amount to
Southern men credit; he directed the quartermas-
tiers in charge to turn the property and take the
purchasers notes, payable monthly up to two years.
the value Of the property thus nomnally sold but in
reality given away, was probably two hundred mil
lions dollars. Of course, the notes. as they fell due
were not paid and it never intended they should
be paid They are under protest here to millions
The government holds chatel mortgages on property
all in rebel hands, that has been consumed in large
part in part has changed hands; and the balance of
which is used in defiant disregard of the contract of
purchase. The President refuses to permit proceed
lngs to compel payment, to recover possession of
any portion of this immense amount Of the public
property.
Now what are the facts which really justified
the President in his course in regard to this
matter? We contend that more enliqhteneG
and statesmanIike act than the one so loudly
complained Of has not emanatcd from any
quarter since oar troubles began ,frc gears ago;
and why?
When the war ended by the surrender of the
rebel armies, it found the great lines of rail
road, those especially through the heart of
the cotton States, effsctually ''smashed"-to
recall Gen. Sherman's strong expression-and
consequently, there was no means of getting
the only article that could sustain our financial
credit abroad-cotton-to the seaboard. The
frst impulse was to leave the railroads to their
fate; but we happen to know that it was the
earnest wish of the Secretary of the Treasury,
finally, to getthe great staple left in the South
atloat as soon as possible; and that it was in
pursuance Of well considered plans. that the
railroad companies were favored by the Gov.
eminent, the rolling stock turned over to them
Suph Eol,1
done besides to encourage them in the attempt
to send the cotton forward for the good of all
concerned. And so vital was this to the ma
tlonal credit, to the national welfare. that had
the Government gicen this property back to its
impoverished and discouraged owners, it would
have been Justitiable in doing it, since had not
the cotton gone forward promptly, at a time
when the balance oftrade was rapidly running
againstus, We might have been-as Govern
ment-abSolutely bankrupted, orhad our credit
so shaken, that wemigh not have recovered for
years.
AL that, is either unknown, or disregarded
now; and consequently, serves an admirable
purpose IN the interests of reckless politicians.
to lnt1ame the minds of their followers against
man whose far-reaching sagacity in sustain
ing the government and making it respected
both at home and abroad, is the most effective
rebuke that could be given to his envous and
malignant assailants in the interests of faction.
They may yet have to account to the DeoDle.
and repent bitterly for their madness and want
OF foresight in dealing rashly with matters
most vital to the nations future welfare; thew
may yet-doing what they can to crush a
people already impoverished and DISCOURAGED
have to pay at home for these errors and
outrages. The cotton manufacturers and the
capitalists of the North have been reached in
past times by the reaction caused bv wrong
DONG, let them see to it that the following ex.
hlblt-which we clip from a Southern ex.
change-does not yet tell upon them. We
quote:
II there be those who believe the story that three
million cotton bales will be produced during the cur
rent year. let them reflect that negro laborers were
drawn from all portions of the South to the most pro-
ductive cotton lands along the Mississippi Levees
unrepalred that were destroyed during war and uu-
exampled crevasses made within the past two months
have rendered cotton cultivation in wide districts
utterly impossible. Planters even now abandon the
task IN despair. These facts not peculiar to the
mississippi valley, but extend to low lands ON all its
Southern tributaries. Plantations on Yazoo, Sun
flower Yallabusha, Arkansas and Red rivers have
been swept over by unprecedented floods. The same
facts apply to the rich cotton lands on the Tombc-
bee, NoXubee and Alabama rivers, while ceaseIess
rams nave so promoted the growth of weeds and
grass IN heids badly cultivated during the war that
Inc producuon OF cotton must be small. In MANY
places seed planted have rotted because of ceaseIe
rams and TO obtain another supply is impossible
Negroes toll less and less assiduously. When fruits
rpen and roasting ears come. with warmth of summo
the day of African jubilee will have dawned Gil
Rights and Reconstruction bills finish the ,vor g
folly, and fill the South with idleness and novertT
Races are gradually forced apart and the value of
the African and laborer is swallowed mn bv
his rights a citizen.
The price of cotton must advance, and rapidly.
during the month. Liverpool and Northern man
uacturers cannot in the face of these facts long de-
press it. Northern spinners cannot always humbug
mankind with the story of three million bales There
will hardly be million gathered and assertions to
the contrary are designed to mislead.
The above is view of the situation which
may be scoffed at by men busy with the last
political phase in the great scheme of Presi-
dent making; but it is the duty of the masses
uyho n NO +n he